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slippage with stop orders

  • #1
  • First Post: Jul 22, 2008 7:50pm Jul 22, 2008 7:50pm
hello folks,

where would you place your stop order if you wanted to be in, even in a fast moving market, but with as little slippage as possible?

price now 1.5750 and I want to be in if price reaches 1.5760.
would I place a buy stop order to trigger @ 1.57595, because hopefully there will be a lot of sell orders at the round number of 1.5760?

the opposite wanting to sell if price goes down to 1.5740, so place a sell stop order @ 1.57405?

hopefully an experienced trader can reply to this?

thanks
  • #2
  • Jul 22, 2008 8:12pm Jul 22, 2008 8:12pm
Quoting yonnie
hello folks,

where would you place your stop order if you wanted to be in, even in a fast moving market, but with as little slippage as possible?

price now 1.5750 and I want to be in if price reaches 1.5760.
would I place a buy stop order to trigger @ 1.57595, because hopefully there will be a lot of sell orders at the round number of 1.5760?

the opposite wanting to sell if price goes down to 1.5740, so place a sell stop order @ 1.57405?

hopefully an experienced trader can reply to this?

thanks
I've never had any slippage with my stop or limit orders.
There is a lot of slippage trading futures, but I haven't seen it with forex. It may depend on the broker. I've always used IBFX.
  • #3
  • Jul 22, 2008 9:12pm Jul 22, 2008 9:12pm
thanks billbss

maybe I should have mentioned the lowest spread

suppose the spread is usually 4 pips and your broker gives you different values to choose from to trigger the stop order, like ask, bid, mid, last.
I want to buy as close to 157.60 as possible without much risk of not getting filled at all.
Normally the quote would be 1.5756 - 1.5760. I would have to pay 1.5760, although only 1 trade @ 1.5760 triggered my order and instantly price turns around and its back at 1.5750 in no time.

Maybe there`s no best way to play this?

thanks
  • #4
  • Last Post: Jul 23, 2008 5:40am Jul 23, 2008 5:40am
Quoting yonnie
thanks billbss

maybe I should have mentioned the lowest spread

suppose the spread is usually 4 pips and your broker gives you different values to choose from to trigger the stop order, like ask, bid, mid, last.
I want to buy as close to 157.60 as possible without much risk of not getting filled at all.
Normally the quote would be 1.5756 - 1.5760. I would have to pay 1.5760, although only 1 trade @ 1.5760 triggered my order and instantly price turns around and its back at 1.5750 in no time.

Maybe there`s no best way to play this?

thanks
If price turns on you frequently once your stop order is hit, a stop-limit order will serve you well. However this is not available for MT4 users.

Stop-Limit will wait for price to hit X then put in a limit order.
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