I am a newbie in FX trading. Actually I did my first trade last Friday and experienced some strange things with my order. Hope people here can help me make it clear.
At January 4, 2:00am EST, I set one "if then/OCO" order for euro/jpy and left. After I came back I found the "if" part of the order was not executed at all and the remaining "OCO" orders are executed abnormally. I asked its customer service about this and they told me this is because the NFP economic announcements caused a gap in the market. The rate set in my "If" order was gapped over. The market jumped from a rate below my order rate to a rate above my order rate without hitting the rates in between.
I want to know whether the explanation they provided me is reasonable. Do all brokers treat this in the same way? How do your brokers do to this?
I know given the extreme fluctuations that can occur, it is not always possible to guarantee stops and limit orders during fundamental announcements. So do we have to pay losses caused by this by ourselves?
Any suggestions are welcome. Thanks in advance.
At January 4, 2:00am EST, I set one "if then/OCO" order for euro/jpy and left. After I came back I found the "if" part of the order was not executed at all and the remaining "OCO" orders are executed abnormally. I asked its customer service about this and they told me this is because the NFP economic announcements caused a gap in the market. The rate set in my "If" order was gapped over. The market jumped from a rate below my order rate to a rate above my order rate without hitting the rates in between.
I want to know whether the explanation they provided me is reasonable. Do all brokers treat this in the same way? How do your brokers do to this?
I know given the extreme fluctuations that can occur, it is not always possible to guarantee stops and limit orders during fundamental announcements. So do we have to pay losses caused by this by ourselves?
Any suggestions are welcome. Thanks in advance.
