Trading the NZD Trade Balance

Hehe, Thanx merlin for advice! I been demoing for 3 months news and i have always won in all my demos trades, kinda crappy being this my second real trade that i lost. In fact when i look back at my trades for NZD trade balance, it seems that they slipped me, even with my stop limit order + TTO. Slipped me about 15-20 pips within a 1 second. I had my Stop limit at 95 and it exited my order at 80. So i dont know who to blame, me or them. But blaming is not a good thing for traders to go about trading. I will call them tommarow morning about this (after the C. serivice Brad told could not do anything about this). THey slipped and primised (on their website) not to slipp even with my stop limit. If it wasnt for this, i could have traded retrace and made some good $$, but i didnt.

Tuesday is another day, i will make this look like my demo with the countless successfull news trades. No more worries, im ready to learn and earn now! Consumer confidence here i come!

R u trading with MB? They promised not to slip on stop limit orders...where was your order set? Where did u get entered?

Hey News, yep they did slip me 15 pips. I had a position from .6698-03, long. I was entered at .6700 with a Stop limit at .6695. But i was exited at .6680 within 1 second. Lost 15 pips (spread as the dude said when i called). They slipped me, which Stop limit promised not to. Hopefully i can get refunded the difference. But Customer Service Brad said unlikely. He went into a spew on how Forex is unregulated and it was going to be a slim chance that i will get my money back. I will still call them in the morning, such as Brad advise.

All my trades should have been on the plus side, but it wasnt, due to spreads and slippage. US consumer Confidence is coming, cant wait to trade this, learned my lession and will apply it for tommarow's trade.

yes you should NEVER get slipped on stop limit. your order CAN get jumped (rendering your stop useless), but it can never get slipped. this is a structural thing and not up to the broker. if you really got slipped on a stop limit then they will reverse the trade for sure.

btw, be careful with stop limit, it only offers limited protection. your stop CAN AND WILL get jumped in a fast market.

Not sure I follow you. It seems your stop limit was set between 98 and 03. You got filled at 00, which is correct-no slippage there. Then I don't exactly follow-you had another stop limit set at set at 95? There has to be a gap between the stop and the limit otherwise you definately can get slipped.

Try using the stop limit+tto-remember, there ALWAYS has to be a gap between the stop and the limit (your entry point). They claim that you cannot get slipped either above or below on the entry if you gap, however, you may not get filled either, if a price is not available.

When u use the SL+TTO on the buy side, the upper tto is a "take profit" point and the lower tto acts as your "stop-loss" point. You can definately get slipped on the lower tto.

On the sell side, the lower tto is your take profit point and the upper tto is your "stop-loss". Again, you can get slipped there.

Don't use another stop limit order as a "stop loss" for the first one, if that is what you did. Use the tto.

Apparently you didn't. If your broker had their way with you on this one they will have a field day with you tomorrow.

Merlin,
He states he was slipped on his stop limit. I think he means he was slipped on his stop loss. This is entirely possible and likely during volitility. stop losses are market orders. And market orders are subject to slippage.

And, as newstrader and merlin point out never use a stop limit as your stop loss. If they get skipped over in volatility it is like having no stop loss at all.

There was indeed a retrace! and then a down move again!

Unfortunately, I had to bring my mom to a hospital so I was not in the ride.

BTW. Seems that the broker simply had a glitch. Trade records were back right now and the 1 pip profit still intact. LOL!

To all who use straddle, be carefull doing it on a broker with variable spread - straddle wont work with them unless you place a larger SL.

So did I. September 1st non-farm payroll was my first live trade.

Thanx for the words Merlin, i will call to see what is up.


I set my order from 98-03, but the spread went high as 05, which got me filled. But i had my stop limit order at 95 (lower) and 20 (high). I was filled at 00, but had my stop limit at 95, which wasnt honored because of the fast VOILITILE (key word as the C. service said) market. I did use stop limit + TTO, which is why i called. This happened to me twice today, for the home sales trade. I will aquire them about this to see if i can get a refund (i got slipped [structual loss as merlin said] 7 pips). So total i got slipped [structual] 22 pips (15 + 7).

Here is what it is:

Sell Short TTO < 0.6695 or > = 0.6720] on MBTX
expiriring 12/25/06 100000 traded at .6680!!

Hunter: The only recourse you have here is to have them provide you with their Tick Data, or Tape. This is supposed to show where the market traded and what prices where available. They should give you the next available price below where the lower TTO was set.

All in all, I don't like the way this looks though...if they don't get you comin, they seem to be getting you going...

Slippage is always possible in a volitile market on any other type of order except the stop limit-which garuntees a price, but not a fill. That level of slippage at that time does seem to be a bit excessive though...

I dont like how tihs looks too newstrader. But a loss is a loss. I have no one to blame but myself. I shouldnt have gambled with a pair that i know nothing about. And should have my Stop Limit higher, like around 20 range. The spread was about 15-20 for the report last night, which is the reason why i got filled at the 6700 mark. But you are right about the TTO, it is the next possible market order price, which was 6680, all of this happened within a 1 second time frame, no human alive could have reacted fast enough to stop this. I may be down, but i will get up and become more successfull. This only makes me more determine to do better. MBT may slip during times of news, but its part of the game, i only wish it slipped me in the good direction, which is rare. I tried my best to contact them, hopefully i will get the difference, but i doubt it. Ill take the loss and in the long run, i will find a way to win. Since news trading is profitable in the long term, i have nothing to dwell on.

Nice report on US Durable goods Newtrader, we will see what happens during the asian session. I will have my stop limit+ tto higher this time for this trade. And the fade is where the money is!!