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Stop loss not filled

  • #1
  • First Post: Mar 21, 2007 6:02pm Mar 21, 2007 6:02pm
I was in a short position on the EUR/USD before the Fed interest rate announcement and had closed most of my position but left some open at a small profit because I had a stop loss set at breakeven.(1.3312) The dollor weakened quickly but my SL was not filled until 1.3330. I called my broker forex.com but they just said that was the best rate they could fill my stop loss at because of the market conditions during news. That caused an 18 pip per lot loss for me that I never anticipated. Does anyone know if this is normal and legit? What can be done to avoid this?
  • #2
  • Mar 21, 2007 6:07pm Mar 21, 2007 6:07pm
Quoting andyoliver
I was in a short position on the EUR/USD before the Fed interest rate announcement and had closed most of my position but left some open at a small profit because I had a stop loss set at breakeven.(1.3312) The dollor weakened quickly but my SL was not filled until 1.3330. I called my broker forex.com but they just said that was the best rate they could fill my stop loss at because of the market conditions during news. That caused an 18 pip per lot loss for me that I never anticipated. Does anyone know if this is normal and legit? What can be done to avoid this?
it's normal and you can look for a better broker but a lot do this. Stops are never safe during news.
  • #3
  • Mar 21, 2007 6:16pm Mar 21, 2007 6:16pm
That's what happens sometimes during news. No one really at fault here unless the broker promised to guarantee your stop loss.

Imagine if everyone is buying, who would be selling? That's what happened.
  • #4
  • Mar 21, 2007 7:42pm Mar 21, 2007 7:42pm
I see the broker guarantees stops except during fundamental news announcements according to their policy.
  • #5
  • Last Post: Mar 21, 2007 8:09pm Mar 21, 2007 8:09pm
Quoting andyoliver
I was in a short position on the EUR/USD before the Fed interest rate announcement and had closed most of my position but left some open at a small profit because I had a stop loss set at breakeven.(1.3312) The dollor weakened quickly but my SL was not filled until 1.3330. I called my broker forex.com but they just said that was the best rate they could fill my stop loss at because of the market conditions during news. That caused an 18 pip per lot loss for me that I never anticipated. Does anyone know if this is normal and legit? What can be done to avoid this?
they trade against you. your order never left the building. if you were long your limit would have been filled! think about it
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