Huge slippage Thursday morning on EURUSD?? | Forex Factory

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Huge slippage Thursday morning on EURUSD??

  • #1
  • First Post: Jul 4, 2008 1:02am Jul 4, 2008 1:02am
this morning 3 July 2008, while trading, I had a sell entry order at 1.5852 on EURUSD, this was set hours before the 8:30 annoucements, but as the market moved after 8:30 NY time, my order did not get filled until 36 pips below, which was 1.5816, I can be very certain that the market hovered between 1.5852 & 1.5816 for at least 15-30 seconds, but obviously my trading software have freezed up completely although the price is still jump around 1.5840-ish...

although the sell order supposed to be kept on the server, not on my computer, has anyone else have the same problem last night?? This is certainly not the first time it happened, and it is plain robbery, does it mean I need to change brokers? Because it's been ripping thousands of dollars from me everytime it happens, please share your experiences?? Thanks
  • #2
  • Jul 4, 2008 1:20am Jul 4, 2008 1:20am
it is normal...
  • #3
  • Jul 4, 2008 1:45am Jul 4, 2008 1:45am
Quoting white_tiger
it is normal...
normal to have 36 pips of slippage? or normal that the system freezes? at least I need to know if someone elsewhere had a sell order between 1.5852 and 1.5816 and if they had been filled at a better price than my 1.5816!

I have the chart from this broker showing the price had moved around 1.5850 without filling my order now, lucky I can look up history data now since this broker have their own charts now, but what can I do with it?
  • #4
  • Jul 4, 2008 2:48am Jul 4, 2008 2:48am
Depends on your settings for slippage.

If you did not set a slippage option then by default it's a market order so the can slip your order as much as they want/can.

If you set a slippage option of let say 10 you can ask because when i look the market at that time the volatility was not huge enough for them to use this excuse.

Send a request to your support center.
  • #5
  • Jul 4, 2008 3:20am Jul 4, 2008 3:20am
what is your broker and what platform do u use?
but that kind of slippage during nfp is a common thing..
  • #6
  • Jul 4, 2008 9:45am Jul 4, 2008 9:45am
Even after that, the euro went another 100 pips.
  • #7
  • Jul 4, 2008 10:27am Jul 4, 2008 10:27am
I know any slippage can be common, but the point is I saw with my own eyes that at that time the prices was trading although below but much closer than my 1.5852 before it started falling and it took a while before it fell to 1.5816! But the platform just froze up and it didn't execute my order until the platform resumes from freezing up!

It was like the orders are kept locally on my computer and the trading station only sends the order to execute after it realise the price have been hit! So if there is a technical problem with the software and it freezes up, it doesn't get executed until it reconnects to the server! Does anybody work in the industry? Is this how their software operates? If my observation is right, it seems like a HUGE FLAW TO ME to NOT keep the orders on their own server??
  • #8
  • Jul 4, 2008 10:40am Jul 4, 2008 10:40am
Quoting Kenz987
Even after that, the euro went another 100 pips.
yes, but I've put in 2 orders, one to exit after 12 pips profit and so the other outstanding position will have 12 pips stop loss, and I will let the remaining position run, but this 1.5852 order of mine got executed at 1.5816, and got closed right away at 1.5840 although the price never got back here after it fell to 1.5816, so bang, right away I have a closed position which lost 24 pips, so I thought what the hell, so I decided to close all my positions, and stay out, felt like I got robbed! I had other longs with stop loss at 1.5852, which were closed at 1.5816 too, so definately not a good trading day, pure robbery...
  • #9
  • Jul 4, 2008 11:11am Jul 4, 2008 11:11am
[quote=white_tiger;2091727]what is your broker and what platform do u use?
OK, so I don't know how to do quotes...

Tell us the bad people so we can boycott them.
  • #10
  • Jul 4, 2008 11:11am Jul 4, 2008 11:11am
Quoting dragoncat
normal to have 36 pips of slippage? or normal that the system freezes? at least I need to know if someone elsewhere had a sell order between 1.5852 and 1.5816 and if they had been filled at a better price than my 1.5816!

I have the chart from this broker showing the price had moved around 1.5850 without filling my order now, lucky I can look up history data now since this broker have their own charts now, but what can I do with it?
Mate look at the chart what do u expect? you had a order in massive news move. that's life in FX
  • #11
  • Jul 4, 2008 11:17am Jul 4, 2008 11:17am
Why do people want to trade when it's the most risky just for a few lousy pips? There a plenty of nice high probability setups throughout the month...
  • #12
  • Jul 4, 2008 11:36am Jul 4, 2008 11:36am
Quoting Tjpld
Why do people want to trade when it's the most risky just for a few lousy pips? There a plenty of nice high probability setups throughout the month...
read what he wrote, he said it was a pending order set several hours before this announcement

Quoting >Apocalypto<
Mate look at the chart what do u expect? you had a order in massive news move. that's life in FX
Look at the chart more closely... First one is from my live feed, second one is from ibfx demo feed. Yes the price moved but the rate increase of the BCE was so expected that there was no spike !

On a major spike this could happen but this annoucement was really different.

Nothing can explain this but a broker trying to rip off a customer...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd fxlite.gif Size: 11 KB
Click to Enlarge Name: eurusd ibfx.gif Size: 21 KB
  • #13
  • Jul 4, 2008 12:03pm Jul 4, 2008 12:03pm
Quoting dragoncat
this morning 3 July 2008, while trading, I had a sell entry order at 1.5852 on EURUSD, this was set hours before the 8:30 annoucements, but as the market moved after 8:30 NY time, my order did not get filled until 36 pips below, which was 1.5816, I can be very certain that the market hovered between 1.5852 & 1.5816 for at least 15-30 seconds, but obviously my trading software have freezed up completely although the price is still jump around 1.5840-ish...

although the sell order supposed to be kept on the server, not on my computer, has anyone else have the same problem last night?? This is certainly not the first time it happened, and it is plain robbery, does it mean I need to change brokers? Because it's been ripping thousands of dollars from me everytime it happens, please share your experiences?? Thanks
This is perfectly normal under these conditions. If you don't want slippage use limit orders instead or slippage protection or something, as they say in metatrader software. After the news or during a major press conference as yesterday, you see market moving a lot but in fact there is very little "money" or liquidity in the market to fill any orders. There are very few new orders and its only the people with already open positions asking crazy prices for the currency they own because nobody really knows what the actual price should be. Blaming the broker for slippage in these conditions is like blaming the gas station owner for rising gas prices.
  • #14
  • Jul 4, 2008 12:07pm Jul 4, 2008 12:07pm
Quoting melpheos
read what he wrote, he said it was a pending order set several hours before this announcement



Look at the chart more closely... First one is from my live feed, second one is from ibfx demo feed. Yes the price moved but the rate increase of the BCE was so expected that there was no spike !

On a major spike this could happen but this annoucement was really different.

Nothing can explain this but a broker trying to rip off a customer...
so u know the exact banks these two brokers get there feeds from? flimsy at best.

end of the day u trade news you take a risk to be slipped.
  • #15
  • Jul 4, 2008 1:09pm Jul 4, 2008 1:09pm
Quoting >Apocalypto<
so u know the exact banks these two brokers get there feeds from? flimsy at best.

end of the day u trade news you take a risk to be slipped.
two brokers show that the volatility was very small when the news was released and he used a pending order ! Not a at the market order so he should not have been slipped (except if his settings was wrong)

In any case, what he described is a robbery !

If a 150 pips candle had been shown i would have say it's normal. Here the volatility was very small.
  • #16
  • Jul 4, 2008 1:41pm Jul 4, 2008 1:41pm
Probably better to trade corn and wheat - none of those nasty gaps or limit up moves.
  • #17
  • Jul 4, 2008 2:15pm Jul 4, 2008 2:15pm
that does suck and unfortunately it does happen. I was looking at my charts and the 8:35-36 M1 candle open at 1.5851 and closed at 1.5817. Doesnt seem like there is too much to be done about the slippage, you were just on the wrong end of it.
  • #18
  • Jul 4, 2008 3:21pm Jul 4, 2008 3:21pm
hi Kenz987, not sure if I'm allowed to disclose it in the forum, but I'm with FXCM for 3 years or more now I think, if I broke any rules by disclosing the broker, admin please remove it...
  • #19
  • Jul 4, 2008 3:22pm Jul 4, 2008 3:22pm
Apocalypto, I have the chart direct from FXCM which gets the feed directly(called Marktscope but I can't upload it somehow) that clearly shows the bid price, clearly showing that...
at 8:34 the candle opened at 1.5865(9), Closed at 1.5850(1), High was 1.5872(7), Low was 1.5849(7)
at 8:35 the candle opened at 1.5850(1), Closed at 1.5817(7), High was 1.5854(7), Low was 1.5809(4)

so this tells that in the first minute, the price had went below my sell price of 1.5852, down to as low as 1.58497, then closed at 1.5850, the next minute it went back up to at least 1.58547, so clearly in the 2 minute they should have more than enough opportunity to fill my orders, and my orders was set hours before 8:30am!
  • #20
  • Jul 4, 2008 3:38pm Jul 4, 2008 3:38pm
I would've accepted easily if the price spiked, and it was truely slippage, but I saw it with my own eyes that the price went below 1.5852, back up many times, before actually falling for real, and it took a while till it fell down to 1.5816, what I'm truely worried is I feel this is could be a technical problem with the broker, and they are not accepting responsibility, and if so, I need to change broker before they rob further money off me! It feels like that the orders & stops are kept locally and not on their server, and when their server gets busy, my orders doesn't get filled until my trading software resumes connection! I hope this is not true, as it seems like a huge flaw to me?
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