Hi Everyone,
This post is about if some brokers will have the stop-loss triggered (or not triggered) just because of the widening of spreads during news time. If you have good/bad actual live experience in this area please share your experience/thoughts, especially if your broker is Oanda (or some other major one like EFX, FXSol, GFT) as I have narrowed down my choices of brokers to the aforementioned few.
I trade mid term mainly (don't trade news) and so my stop is not tight, for example, I long GBP/USD at 1.9000 and my stop-loss is at 1.8900 and now for example just before major news being announced it is being traded at 1.8910, not yet touching my stop-loss point. For some brokers that like to have their spreads widened during news (sometimes to a great extent like even 30pips wide for bid/ask), like Oanda and FxSol, if just a minute before a major news the original spread is 1.8910/1.8914, and it widens to 1.8895/1.8920, would it trigger the stop-loss (at 1.8900) if the spread is just being widen, and this widened spread touches (or passes) the stop-loss, but no actual trading passes through the stop-loss? I am concerned about this because obviously you don't want to get your stop-loss being triggered just because of the widening of the spreads. Imagine just after the news annoucement in this example that because of the news the GBP/USD jumps from 1.18910 to 1.9020 and you were stopped out because the spread is widened and hit your stop-loss (but no actual trading through your stop loss). Are there any traders out there that have good or bad experience with stop-loss being (or not being) triggered just because of the widening spreads (but no actual trading through your stop-loss). Need your valuable thoughts as this is an important criteria to think about when I choose my broker.
Please share your actual live experience in this area, especially if your broker is Oanda, FxSol, GFT, etc. If you have any suggestions of brokers that would not trigger stop loss if only the spreads are widened, please state your recommendations.
Thanks.
This post is about if some brokers will have the stop-loss triggered (or not triggered) just because of the widening of spreads during news time. If you have good/bad actual live experience in this area please share your experience/thoughts, especially if your broker is Oanda (or some other major one like EFX, FXSol, GFT) as I have narrowed down my choices of brokers to the aforementioned few.
I trade mid term mainly (don't trade news) and so my stop is not tight, for example, I long GBP/USD at 1.9000 and my stop-loss is at 1.8900 and now for example just before major news being announced it is being traded at 1.8910, not yet touching my stop-loss point. For some brokers that like to have their spreads widened during news (sometimes to a great extent like even 30pips wide for bid/ask), like Oanda and FxSol, if just a minute before a major news the original spread is 1.8910/1.8914, and it widens to 1.8895/1.8920, would it trigger the stop-loss (at 1.8900) if the spread is just being widen, and this widened spread touches (or passes) the stop-loss, but no actual trading passes through the stop-loss? I am concerned about this because obviously you don't want to get your stop-loss being triggered just because of the widening of the spreads. Imagine just after the news annoucement in this example that because of the news the GBP/USD jumps from 1.18910 to 1.9020 and you were stopped out because the spread is widened and hit your stop-loss (but no actual trading through your stop loss). Are there any traders out there that have good or bad experience with stop-loss being (or not being) triggered just because of the widening spreads (but no actual trading through your stop-loss). Need your valuable thoughts as this is an important criteria to think about when I choose my broker.
Please share your actual live experience in this area, especially if your broker is Oanda, FxSol, GFT, etc. If you have any suggestions of brokers that would not trigger stop loss if only the spreads are widened, please state your recommendations.
Thanks.