Hello,
That's one of the reasons why trading is hard. Situations like this will occur. Stopped out by 1 pip and then price goes in your favor, buying the very top and price revers. There will be even days when everything you do is wrong. You are buying, price drops. Selling, price goes up. You decide to hold you trader longer, it hits your stop loss. Decide to close your profit trade, after a second it shoots up hundred pips in you favor... It will always be there. Unfortunately situations like this charge you emotionally, and it's better not to take more trades that day.
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It never reached the SL
Look at the chart once again, do you still think that the price never reached the SL?
Hello, That's one of the reasons why trading is hard. Situations like this will occur. Stopped out by 1 pip and then price goes in your favor, buying the very top and price revers. There will be even days when everything you do is wrong. You are buying, price drops. Selling, price goes up. You decide to hold you trader longer, it hits your stop loss. Decide to close your profit trade, after a second it shoots up hundred pips in you favor... It will always be there. Unfortunately situations like this charge you emotionally, and it's better not to...
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Yes I still think it didn't reach ... what am I missing?
Yeah man, that's when accounts get blown.
If that's the stop loss that you have planned, it was placed according your rules, than it's ok. You did a great job. The only reason it makes you feel so frustrating is that it hit you so close to your stop loss. But, as I said before, it will happen. You can't avoid it. It will be with you all the time.
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Yes I still think it didn't reach ... what am I missing?
Open - 0.88485 High - 0.88554
Low - 0.88479
Close - 0.88499
One more try. Do you still think that the price never reached the SL?
I have a question, that blue area on the last picture, what does it show? What was your take profit target? When you decide to close the trade?
Yeah man, that's when accounts get blown. If that's the stop loss that you have planned, it was placed according your rules, than it's ok. You did a great job. The only reason it makes you feel so frustrating is that it hit you so close to your stop loss. But, as I said before, it will happen. You can't avoid it. It will be with you all the time. {quote} Open - 0.88485 High - 0.88554 Low - 0.88479 Close - 0.88499 One more try. Do you still think that the price never reached the SL? I have a question, that blue area on the last picture, what does...
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High 0.88554, SL at 0.88560. So SL was 6 higher. Price did reach the SL, the next day. My profit target was the LL of the first image. Perfect entry and perfect exit, profit target would be hit with a 4/1 R/R
edit: oh I get it, you thought there was no TP. Of course there was a TP, I was waiting for the initial move to input it
Open, High, Low, Close showing data for the Bid price. You had a sell position, your stop loss was at 0.88560. To close your position you need to buy from the market at the Ask price. The average spread for eurgbp is more then 0.5 pips, and in some cases it may be even bigger.
Answering you question. The Bid price didn't reach the SL, but the Ask price did. That is why your position was closed.
What broker are you using? some brokers will trigger your stop loss early depending on spread.
If you contact the broker and send them the screenshots they may refund you for the loss. I've done this before in the past.
For the future you should always leave room for slippage on trades, depending on the pair. That's what this is, slippage. Depending on the broker could also be manipulation to stop you out early but more than likely just slippage and they should be able to refund you if they are honest, especially if its a one time thing.
From investopedia - Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. Slippage can occur at any time but is most prevalent during periods of higher volatility when market orders are used.
What broker are you using? some brokers will trigger your stop loss early depending on spread. If you contact the broker and send them the screenshots they may refund you for the loss. I've done this before in the past.
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There are 2 prices in the market. Bid and Ask. Why should broker do a refund? That price was in the market and order got filled, broker did everything right.
For the future you should always leave room for slippage on trades, depending on the pair. That's what this is, slippage. Depending on the broker could also be manipulation to stop you out early but more than likely just slippage and they should be able to refund you if they are honest, especially if its a one time thing.
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You should leave room for spread. Slippage is a different thing. As you mentioned Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. It looks like that the spread got bigger and triggered a stop-loss order at 0.88560. That order executed at 0.88555, and this is slippage. In this case he got better price than he wanted.
{quote} Open, High, Low, Close showing data for the Bid price. You had a sell position, your stop loss was at 0.88560. To close your position you need to buy from the market at the Ask price. The average spread for eurgbp is more then 0.5 pips, and in some cases it may be even bigger. Answering you question. The Bid price didn't reach the SL, but the Ask price did. That is why your position was closed.
{quote} There are 2 prices in the market. Bid and Ask. Why should broker do a refund? That price was in the market and order got filled, broker did everything right. {quote} You should leave room for spread. Slippage is a different thing. As you mentioned Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. It looks like that the spread got bigger and triggered a stop-loss order at 0.88560. That order executed at 0.88555, and this is slippage. In this case he got better price than...
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I forgot about the huge spread of GBP/CHF.
I messed up again today, I doubted myself and closed early. I'm one dumb trader, it's not even funny at this point.
I can see that you are trading with FTMO. Are you doing some kind of a challenge or is it just a demo account?
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I messed up again today, I doubted myself and closed early. I'm one dumb trader, it's not even funny at this point.
It looks like you made more then you were risking on that trade, that's not a bad trade. Imagine price drops 50 pip and you took a loss, would you still think that you closed too early? If your winners bigger then your losses, then you should not lose money in long term.
I can see that you are trading with FTMO. Are you doing some kind of a challenge or is it just a demo account? {quote} It looks like you made more then you were risking on that trade, that's not a bad trade. Imagine price drops 50 pip and you took a loss, would you still think that you closed too early? If your winners bigger then your losses, then you should not lose money in long term.
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Close to 2/1. I always go for 2/1 RR minimum but I get scared and drop out.
Yes it's an FTMO challenge, I passed the first stage, this is stage 2.
