Overview of Order Send Error 138
Error 138 is a common issue associated with trading on the Forex market, and is an error code sent by the broker responding to an OrderSend() function call initiated by an expert advisor. The Requotes signal is sent by the broker in response to the order attempt, meaning it is not possible to continue with the order being submitted as it was requested. The difficulty arises as the user must select a market order, changing the price and the amount of the order that can be filled, and this can significantly affect the original opinion of the investor. Understanding how to properly read and react to Error 138 is an important step in the process of successful Forex trading.
How to Interpret Order Send Error 138
Error 138 signals that the broker is unable to complete the order attempt with the original parameters. The investor must then decide whether to use the most recent market prices, or to use a wider price range, allowing the order to be filled at prices slightly different from the original intended order price. A market order must be employed, and the amount of the order that can be filled could be close to, equal to, or greater than what was requested. In some cases, the broker’s system is unable to fill the order with the original amount of lot sizes, and this further complicates the order.
Strategizing with Forex Solutions
The best solution to Error 138 is to adjust the order settings and type as quickly as possible to avoid a delay, as even a minor delay can alter the market conditions and cause additional losses. If the order is for a small amount of money, it is best to use an even wider price difference to save liquidity and ensure the order is filled as close to the intended price as possible. When filling orders for larger sums, it is advisable to move the order slightly uphill or downhill in order to not disturb the market with orders that are too wide. In order to successfully strategize with Error 138 solutions, it is important for the investor to be aware of the side effects of different order types and settings.
Error 138 is a complex issue that requires careful attention and understanding in order to avoid serious losses. By being aware of the side effects and risks associated with adjustments to an order, investors can reduce the chance of significant losses due to the Requote signal. By strategizing with the right solutions and paying close attention to the market, investors can successfully manage Error 138 to their benefit.
Understanding Order Send Error 138
Many forex traders have encountered order send errors in automated trading. Order send error 138 is one such error that can be encountered when using MT4 or MT5 trading robots. Understanding what order send error 138 means, and how it can be mitigated, can help traders understand and avoid these errors in the future.
Error 138 is ERR_REQUOTE, which is a requote error. This means that the price values of the Ask and Bid have changed between the time that the order was sent and the time the order was received. This can be caused by fast moving markets, or by slow relaying trade feeds, or by the disconnection of the server during this time frame.
When this order send error occurs, it will result in the order being closed without being filled. This can create some confusion and frustration for the trader, as they will not understand why the order they sent did not get filled. This can be a problem for traders because it can prevent them from meeting their trading goals.
Avoiding Order Send Error 138
In order to avoid being affected by the order send error 138, traders can take proactive steps before and during the trading process. This includes understanding the price fluctuation behavior of the asset being traded before opening a position, and only placing trades when the currency pair is moving within a reasonable range.
In addition, traders should use limit-based orders when trading, as these types of orders do not require a requote. This means that the order is sent without the price being able to change substantially between the time the order is sent and when it is received.
Another way to avoid the order send error 138 is to be aware of market news, such as as important economic announcements or geopolitical events. These types of events can cause large price movements and thus make it difficult or impossible for traders to place orders. Being aware of economic news before trading can also provide traders with opportunities to make quick profits by trading the news.
Order send error 138 can be an annoying and frustrating experience for traders, resulting in winning or losing trades that are not accurately reflected in their results. However, with some careful planning and strategic risk management, traders can mitigate the risk of being affected by this error. Understanding the potential risks of the market and picking the right entry and exit points, as well as using limit-based orders to ensure that the trade is triggered at the desired price, can help traders avoid or minimize the probability of being affected by order send error 138.