Sell/buy order failed, not enough money

[Nynz11]

I've been using Galileo FX Pro for about a month now but a week on live account. I have $500AUD capital and set lot size to 0.03 and would get an error message of
2024.02.02 17:15:00.990 Galileo FX_Pro_MT4 EURUSD,M5: Sell order failed! not enough money retry...

But I have had trades that have opened and then this message would come up so I changed the lot size to 0.02 and trades would open again and then the error message would come up again. Anyone know the reason why?

Thanks!

 

[Chris]

I've been using Galileo FX Pro for about a month now but a week on live account. I have $500AUD capital and set lot size to 0.03 and would get an error message of
2024.02.02 17:15:00.990 Galileo FX_Pro_MT4 EURUSD,M5: Sell order failed! not enough money retry...

But I have had trades that have opened and then this message would come up so I changed the lot size to 0.02 and trades would open again and then the error message would come up again. Anyone know the reason why?

Thanks!

This usually signals that there aren't enough funds in your account for that lotsize.
Generally it's a matter of the leverage on the account,it might be too high and in order to trade with that specific lotsize you would require more funds.

 

[Nynz11]

This usually signals that there aren't enough funds in your account for that lotsize.
Generally it's a matter of the leverage on the account,it might be too high and in order to trade with that specific lotsize you would require more funds.

Thanks for your reply. I was just confused as to why it would open a trade and then get the error message and then sometimes would open another trade after the message.

 

[malthouse1993]

Yes, its all to do with the margin requirements of your broker and how many trades and of what size you have running at the same time. I notice that some assets such as Gold require a much larger margin than say a trade on EUR/GBP and I am then more likely to see a "failed" to open trade due to lack of money or words to that effect. Hope this helps.