HI
In trading what you dont know can hurt you.
For example MT4 platform offers special order execution facilities.
you can place an order set that has 3 components at one shot.
pending order
USD/EUR
EUR/USD BUY STOP ENTRY 1.3056 TP1 1.3076 SL 1.3036
SELL STOP ENTRY 1.3022 TP1 1.3002 SL 1.3042
ONCE YOU FEED THESE ORDERS,What I understood,is if after buy is executed,if tgt is reached,trade is sold and stoploss becomes void.
if after buy is over,if stoploss is hit,then target order is void
In india,nse exchange is say 50 years behind.
we dont have OC-ONE CANCEL OTHER FACILITY.
WE NEED TO SIT NEAR PC. TO CANCEL UNEXECUTED STOPLOSS ORDER IF TARGET IS EXECUTED
IN CASE OF MT4,YOU PLACE ORDERS ,STOPLOSS,TARGET THEN GO AWAY.
YOUR JOB IS DONE
This is where MT4 is ahead in the game.