cTrader Stop Loss & Take Profit

AlexanderMittl

I have a question regarding the RiskReward Management tool for cTrader. What trigger does the tool use for SL and PT? in terms of ask/bid. So for example: when I enter a long position and it places a sell stop for it, it uses the ask price to trigger the SL?
https://clickalgo.com/risk-reward-tool

Sebastian

Hi, Alexander, this tool uses the standard cTrader stop loss and take profit feature, so the trade needs to take into account the spread as payment to the broker, so a long position's stop loss would use the asking price and a short positions stop loss would use the bidding price. The opposite is used for a take profit.

https://help.ctrader.com/ctrader/trading/orders/

If you need further help you can contact Spotware on how their orders use stop losses.

AlexanderMittl

@"Sebastian"#p2961 Thanks for the answer, I am using the FTMO version of cTrader and I asked the firm via email on how it gets triggered and they told me "the SL and TP of a long position are triggered by the Bid Price while the SL and TP of a short position are triggered by the Ask Price". I am bit confused

Sebastian

example:

Long position, stop loss is closed using the asking price.
Long position, take profit is closed using the biding price.

You can quickly test this with cTrader using a symbol with a wide-spread and setting a stop loss and take profit.

You will find this is standard with all trading platforms, this is how the bid/ask spread works, you can also Google this question, if you think about it, you will see it makes sense as the markup is made on both stops and profits.

https://www.investopedia.com/terms/b/bid-askspread.asp

AlexanderMittl

@"Sebastian"#p2963 ok interesting, so FTMO didn't actually know what they were writing to me, haha :)

Sebastian

Maybe they misunderstood your question, test it yourself to verify.

AlexanderMittl

@"Sebastian"#p2965 so I tested it and cTrader for the FTMO plaftorm uses Bid price for a long positions stop loss as default, I would need to change the trigger method as soon as the order is set.
And I am only able to choose a trigger method for SL only, it is not available for your entry or take profit, is that normal?

Mike

Hi, Guys,

For a long position, they open on Ask and close on Bid.
For a short position, they open on Bid and close on Ask.

AlexanderMittl

@"Mike"#p3029 yes, except you change the trigger method

Mike

It's a standard cTrader stop loss or take profit, the R&R tool has nothing to do with it, if you need further clarification on how a cTrader Stop loss or take profit works, it is best to contact Spotware.

https://ctrader.com/forum/ctrader-support

AlexanderMittl

I am saying the FTMO version of cTrader uses the Bid for Buy and Ask for Sell trigger for SL's as default.
you would need to change it everytime again and this is not by using the RR tool, just by creating a "normal" order. And as said it is the FTMO version of cTrader, it could different due to that fact

Mike

OK, I understand, best to chat with Spotware about this as they created the platform.