A Stop Loss or Take Profit is triggered by the applicable Bid or Ask price, which may differ from the price shown on your chart. A level may therefore appear to have been reached on the chart without the price needed to trigger your order reaching it. This article applies only to Stop Loss and Take Profit orders attached to positions. Pending orders operate under separate trigger rules.
Which price triggers my order?
The applicable price depends on whether you are buying or selling:
Position |
Opening Price |
Closing Price |
|---|---|---|
Buy |
Ask |
Bid |
Sell |
Bid |
Ask |
For example, a Sell position is closed using the Ask price. If your chart displays only the Bid price, the Ask price may not have reached your Stop Loss or Take Profit even though the chart appears to have reached the level.
Can spread affect my Stop Loss or Take Profit?
Yes. The spread is the difference between Bid and Ask, and it can change with market conditions. When the spread widens, the Bid and Ask prices move further apart.
A widening spread may cause the applicable Bid or Ask price to reach your Stop Loss or Take Profit level even where the chart price appears not to have reached that levelt, particularly during periods of increased volatility, lower liquidity, market opening, or other conditions where spreads may widen.
What if prices gap through my order level?
A market can move between prices without a quote being available at every price in between.
A trigger and an execution are different events. If the market moves through your Stop Loss or Take Profit level without the applicable price being available at that level, the order may be executed at the next available price rather than exactly at the level you set.
Do not assume that a different closing price means the order failed to trigger.
Was the order level successfully applied?
Check that your Stop Loss or Take Profit is still attached to the position and shows your intended level.
If you attempted to add or modify a level and the request was rejected, the new level may not have been applied.
Can trading hours prevent my order from triggering?
Stop Loss and Take Profit orders can only be triggered when the relevant product is actively tradable.
Some products may have separate trading hours and quote-only periods. During a quote-only period, prices may still be displayed, but trading may not be available.
Subject to the product's trading conditions, if the applicable price reaches or passes your Stop Loss or Take Profit while the product is not actively tradable, the order will not be triggered during that period. When trading resumes, the order's trigger condition is assessed against the available market price.
You can check the product's trading hours and trading conditions in MT4/MT5 → Market Watch → Specification.
How do I investigate an untriggered order?
If you believe your Stop Loss or Take Profit should have triggered:
- Check whether the applicable Bid or Ask price reached your level.
- Enable Show Ask line if you are checking a Sell position.
- Confirm that the Stop Loss or Take Profit level was actually attached to the position.
- Check the product's trading hours.
- Review the relevant order and account history for execution details.
If, after reviewing the applicable Bid or Ask prices and trading hours, you believe your order should have triggered, contact the Moneta Markets Trading team at tradingenquiry@monetamarkets.com for an execution review.
Provide your trading account number, order number, Stop Loss or Take Profit level, date and time (including your time zone), and any relevant screenshots.
A Stop Loss or Take Profit does not guarantee execution at the exact level specified. During fast-moving or gapping markets, an order may be executed at a different price. Market conditions such as volatility, reduced liquidity, spread widening and price gaps may affect the triggering and execution of Stop Loss and Take Profit orders.
