That sucks, hope you didn't lose too much. Someone said the entire move happened in a couple seconds. If its a market order they're supposed to get you out at the available price.
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DislikedThat sucks, hope you didn't lose too much. Someone said the entire move happened in a couple seconds. If its a market order they're supposed to get you out at the available price.Ignored
DislikedNews trading is risky as the market becomes more unpredictable at the news release so i usually avoid trading during the said period.Ignored
DislikedSo, today I did something a little bone-headed -- namely, I was long USD/CAD without realizing that a rate announcement was forthcoming. I had a 13 pip stop loss in place that was completely blown through and got slipped nearly 200 pips. The gap (where there's obviously no liquidity to fill my stop order) went for about 100 pips, but then price resumed at 1.2306. However, my stop didn't get filled until 1.2201 Do I have a legit case of getting a partial refund or no? {image}Ignored
DislikedNico, Just be careful with having a live account with this Broker .. i have seen some very funny data off .. case in point, see below. Other broker did not have that kind of move .. very very odd .. https://www.forexfactory.com/attachm...3&d=1503989132 {quote}Ignored
Disliked{quote} Yeah, I usually avoid it too but I goofed up and forgot about this one. I entered the trade about 15 mins beforehand not realizing it was coming. Rookie mistake.Ignored
Disliked{quote} IMO the rookie mistake is that 1 u use tight stops 2 u trade counter-trend 3 u don't understand that spread plays a role when you open and close a position and 4 brokers play no role and have no interest in widening the spread so much. so you should not blame the broker but yourself for your ignorance.Ignored
DislikedProbaly it was due to a major spread widening. as you see I closed at 1.21702 which means I made 200 pipsbut my profit is $150 instead of $180. Not that I care much... {image}Ignored
DislikedExactly 5 sec after news I buy 350 pips lower....another account I copied my trade to got 1 sec delay and 46 pips negative pips slippage vs my price!! Is the price moved ( already) up 46 pips in 1 sec!!! These as market orders!! Your SL is not a market order, so, broker virtually has a bit more delay once the price hit it to become market order and close. Not a big deal at quieter, normal market conditions, but in this case the when the first 4 second made a total move of approx 300 pips, that is average market speed of 75/sec! 2 sec execution indeed...Ignored
Disliked{quote} Nothing to do with wider spread. The UsdCad pip value for your lot size is 0.82 $/pip. ( not 90 cents/per pip)! Can take this calculator for reference, or any that matter... http://www.fxpro.co.uk/trading/calculators/pip#Ignored
QuoteDislikedYeah but the broker didn't really have to widen the spread THAT much comparing to other brokers who quoted the price for the same pair during the same period. If Nico had traded with a different broker other than Trader's Way, his loss would've been smaller for the same mistake he made because his stop-loss would've been filled earlier when the price was more favourable to him. That's the problem.
Disliked{quote} Market order is EXACTLY the kind of order that gets slipped the most because it's the order type that gets filled at whatever is the immediate market price so in very rapid market, if the market price dropped 600 pips before your market order is executed, then your market order would get slipped 600 pips. SL order is exactly a type of market order and that's why it's so vulnerable to huge slippages during fast market because once the stop-loss level is hit, if the market price moved further away by x number of pips then your stop-loss order...Ignored
Disliked{quote} Stop limit orders wonīt help much with spiking prices... Probably you just get loss over whole spike... Afterwards, if price starts to go to your destination, you will be stopped out...Ignored
Disliked{quote} No stop-limit would just allow your order to be stopped out at exactly your stop-limit price or better (if your broker is an ECN broker and allows you positive slippages) but NOT worse if the price spikes passing than your stop-limit level so it would be EXACTLY helping you with spiking prices when the price just spiked up/down pass your stop-limit level and then returns. I will illustrate to you with Nico1359's trade from his original post that started this thread: In stop-limit orders, that are TWO prices you need to set, a stop-loss price...Ignored
Disliked{quote} Hi! Thatīs what I mean. Stop limit order doesnīt guarantee anything... if price spikes down, and never retrace, you will be making way bigger loss than you would with normal sl order... If price however starts to spike up again, you probably would get better closing price monitoring trade manually than with limit stop. Using limit stop orders is just gambling on possibility that price will retrace, putting your equity on high risk. On the other hand, you may use stop limit orders at entries, since you will always get at the price you expected,...Ignored
DislikedSo, today I did something a little bone-headed -- namely, I was long USD/CAD without realizing that a rate announcement was forthcoming. I had a 13 pip stop loss in place that was completely blown through and got slipped nearly 200 pips. The gap (where there's obviously no liquidity to fill my stop order) went for about 100 pips, but then price resumed at 1.2306. However, my stop didn't get filled until 1.2201 Do I have a legit case of getting a partial refund or no? {image}Ignored