When using London Gold trading software, some users may encounter this situation: even after filling in the pending order price, the system prompts insufficient price distance upon submission. This is generally not a software fault. Instead, the gap between the target price and the current market price fails to meet the minimum pending order distance specified by the platform.
I. What is the pending order distance for London Gold?
A pending order means users set a target price in advance. Once the market hits the corresponding condition, the order will be processed in accordance with order rules.
To maintain a certain gap between the pending order price and the prevailing market price, platforms usually set a minimum pending order distance. If the target price set by the user is too close to the current price, the order may fail to be submitted successfully.
II. What is the pending order distance for London Gold at Lucky Gold?
For London Gold on Lucky Gold, pending orders must maintain a minimum distance from the current market price: 200 points, equivalent to 2 US dollars.
For example, if the current market price is 3300 US dollars, and the target price set by the user only differs by 1 US dollar from the current market price, the minimum distance requirement of 2 US dollars is not satisfied. In this case, the target price needs to be readjusted until the gap from the current market price reaches the specified distance.
III. Why do 200 points equal 2 US dollars?
The minimum price fluctuation of London Gold on Lucky Gold is 0.01 US dollar. Therefore: 200 points × 0.01 USD = 2 USD
This explains why both 200 points and 2 US dollars are used in the trading specifications. With this understanding, when users receive the insufficient distance alert in the software, they can directly calculate the required adjustment based on the current price.
IV. Why does the system show insufficient distance right after setting the price?
Another common scenario: the target price entered by the user initially meets the 2-US-dollar distance requirement, yet the market price shifts the moment the order is submitted.
For instance, the gap stands at 2.1 US dollars at the time of entry. If the market quickly moves by 0.2 US dollars before submission, the actual distance drops to 1.9 US dollars, which fails to satisfy the pending order requirement.
Therefore, during periods of rapid price movement, pending orders placed right at the minimum distance are more vulnerable to real-time market fluctuations.
V. Check trading hours before placing pending orders
Apart from price distance, users also need to confirm whether the market is within regular trading hours.
Lucky Gold enters daily settlement from 05:00 to 06:00 (Tuesday to Friday) under Daylight Saving Time, and 06:00 to 07:00 under Standard Time. Trading is temporarily unavailable 5 minutes before and after settlement.
Hence, if the price distance meets the requirement but the order still cannot be submitted, you may check whether the current time falls within the settlement window.
How to remember the pending order distance rule for London Gold?
Lucky Gold users can simply keep this rule in mind: The minimum pending order distance for London Gold is 200 points, or 2 US dollars.
If you receive the insufficient distance prompt, first check the current real-time price, then recalculate the difference between the target price and the market price.