Hello,
I'm new here and to forex. I have used another platform a long while ago. I was very discouraged with the almost, "gambling" style that seemed to be surrounding the trading. I have since found this site, and plan to sign up in a couple weeks.

Now for my question:
I'm trying to setup a trade using FxPro's practice account. Each time I try to execute the trade I get an, "Invalid S/L or T/P" error. It seems that I get it now matter how I setup the trade. Thanks in advance.

Hi,

You receive this error when the stop loss or target value doesn't match the market price or they are too close to the market price. For example you want to go short and your stop loss is below the market price which doesn't make sense. Or your target is above the market price.

I guess I must just have them too close. I tried it again with it set much further out and it worked.

It also appears that I may have been doing to close to the market price. Thanks for your input.

Ok, now I just don't understand. With EURUSD I have a pending Buy Limit trade with Price of 1.47300, S/L at 1.47250, T/P at 1.47400, with the market at 1.47199 and it won't take it. I'm not sure what I'm missing. Thanks

Change it to "buy stop" and it will take it.

If current market price is 1.47199, you cannot place a limit buy at 1.4730, because the price is already below your limit. In this case you have to place a Stop Buy

You have a pending buy at 1.4730. That means that when/if this trade is executed at the Offer of 1.4730, the Bid price will be 1.4728, so your S.loss only allows 3 pips movement

Thank you for the clarification. I can see a couple errors I had made. Since I was using the last (5th dec) number to calculate the PIP I had it way too tight. I have been away a while, and the definitions on the net said the PIP is the smallest movement in price. That's the 5th dec. on FxPro's display.

Also, I was confusing stop with limit. Thanks for the correction.

Yes, it can be confusing.
With, for example, EUR-USD, it is universally accepted that the difference between 1.4700 and 1.4730 is 30 pips, but because of the 5th digit, you have to enter it as 300, not 30.
I originally found that I was being stopped because I had not realised this at first.