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What is Forex requotes (requotes)?

Requotes (Eng. requotes)-so-called slippage resulting from abrupt movements of the prices when you try to close the deal by the trader. Requotes are missing when you stop orders when the deal closes on a clearly defined costs, exhibited by the trader.

Requotes are unpleasant for the trader that fail to quickly close an unprofitable deal. When you try to do the trading terminal makes a sharp sound and displays a message that the price has changed. The trader is to cancel your request and leave at the current price, or wait for a better price. The most often do not expect, if the price continues to move in a bad trader (which, in effect, and experienced requotes). Most traders are just close a transaction at a disadvantageous price.

Sometimes occur and positive slippage. Despite this, most brokers close a deal on the trader's price. The ideal is to close trade deals without slippage. Below we will explain how this can be done.

Causes of requotes

● Before slipping is actively used by unscrupulous dealing centers, who played against the trader. The calculation is simple-getting few chances in a row to requote what irate trader would agree to any price. Moreover if closed loss-making position to quickly close to not increase the losses on her.

• Poor communication. The reason is most often in the provider. Now is very rare.

● Forex trading using Instant Execution, execution of transactions on exactly the requested price, requires several requests for quotation, if during the processing of a customer order price level has changed. Given that some DC provide Instant Execution with 5-by five digit quotes that change several times per second, then the trader will face permanent requotes.

Learn to avoid the requote

Slippage is eliminated in two cases:
● when trading through a broker that provides high-quality NonDealingDesk execution of orders. The DC will not play against the trader, their profits-no deposit gamblers, and the Commission and part spread on open transactions. Such brokers no matter at what price is the opening and closing of the transactions, only the transaction amounts are important, and the fact of its opening. Slippage in this case does not benefit any trader or broker.

● when trading with Market Execution (at market price). The deal is at the current market price. Repeated requests no broker. The number of digits after the decimal point is not important-4 or 5. the trader receives the market price, which is relevant at the time of processing the order broker. In this case, 5-tiznačnye quotes a better deal because the spread is less than 4-hznačnyh (except trade at night, at the close of the market on a Friday or a Sunday).

If you are using automatic trading system and the need for accurate execution price (that is, Instant Execution), you need to use a Forex account with 4-hznačnymi quotes + fixed spread. Completely avoid requites in this case did not succeed, but they will be less. Not all Forex expert advisors require such measures, but know this is necessary.

Another option would significantly reduce the requote on accounts with Instant Execution is setting the maximum deviation. In MT4, go to the menu Tools → settings → trading → Deviation or easier-in the opening of a new order "enable maximum deviation from quoted prices. Note, however, that in the latter case, you lose the whole point of using Instant Execution.

Sum up the results. Fear not requite, but best kept to the minimum. The most profitable for traders (to avoid slippage rates) is the use of Forex accounts with narrow spreads and no requotes. Alternatively, I can advise to open account Pro STP broker Review. The pros of this account, low spread, no requotes, account is ideal for trade advisers, scalping, etc.

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