How to avoid requotes from Forex brokers

How to avoid requotes from Forex brokers
How to avoid requotes from Forex brokers

Id.konsumtif.com- How to avoid Forex broker requotes: Forex requotes are offers by brokers to execute trades at different prices.

Requotes don’t happen all the time, because they are usually caused by a forex broker’s server being full due to too many trader orders coming in in a short time.

This condition occurs when the market is encouraged by the release of important fundamental data.

Therefore, overlapping sessions where a lot of information is published that has a great impact are times that are not recommended for traders to open positions, especially those who are beginners.

Here are some ways to avoid Forex Broker requotes, see detailed information below.

1. Don’t trade when there is a high-impact press release

It’s a good idea to steer clear of entering the market when major fundamental news is released, unless you are a savvy news trader in calculating the risk of currency requotes.

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Not only for those who are concerned about the impact of currency requotes, many technical traders also avoid trading when Bews is released.

Prices generally move fast with high volatility, so the risk of loss is also as great as the potential gain.

The direction of the currency’s movement is quite difficult to predict technically, because the market sentiment at the time was influenced by fundamental factors.

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2. Determine Stop Loss and Take Profit levels before the open position

Exit positions can also be subject to currency requotes, the impact on trading income is quite significant, especially when close requests can be executed at levels that do not match the target.

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To avoid this, it is better not to modify or simply set a stop loss and take profit after the position is open.

If it has been determined before the open order, the trading position will be safe from the danger of currency requotes that appear when you close the order.

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3. Activate the maximum deviation function in MT4

If your MT4 broker has a maximum deviation, use it to the best of your ability to avoid currency requotes.

The maximum deviation is the maximum deviation limit, the amount of which can be determined by the forex trader himself.

Therefore, you can set the maximum holding price limit that applies to each trade position.

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If you set the maximum deviation to 3 pips, the broker’s forex quote offer will show the price level with a maximum difference of 3 pips from the price in real time.

Open sale at the price of 1.4165 as such, no currency requotes will be offered below 1.4162.

In conclusion, the maximum deviation does not actually eliminate the currency requote, but controls it at a price level whose difference you can accept.

Many forex traders who are active in high market volatility use this feature. They accept the risk of currency requotes for things that are impossible to avoid, but can be controlled.

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