Spikes caused me to close out... arg! | Forex Factory

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Spikes caused me to close out... arg!

  • #1
  • First Post: Apr 4, 2007 9:55am Apr 4, 2007 9:55am
Last night I shorted USDCHF, and the price was going down nicely when I went to bed, about 15/20 pips, and I had a 15 pip trailing stop on it. On one of the 4-hr bars which I'm trading on I noticed that it had a lot of fluctuation, and this triggered the stop, covering me, and I wound up with a mediocre profit (but still okay) of only 10 pips.

So my question is, is the only solution to price spikes like this to set a larger stop loss or trailing stop? I don't want to lose profits, but I don't want to lose the shirt off my back either...?
  • #2
  • Apr 4, 2007 10:00am Apr 4, 2007 10:00am
Yes there is an anwser....don't trade.


You got profit...right??

Look at the history...spikes are in man.
  • #3
  • Apr 4, 2007 11:06am Apr 4, 2007 11:06am
on a 4 hour bar, you would expect your trailing stop to be outside the ATR for the bar...I'm not sure what that is for the USDCHF...spikes happen, that's a fact you're going to have to live with. The only thing you can do is monitor the trade. 15 pips trailing seems a bit small for a 4-hour bar, but then again, I'm not sure what an appropriate trail is for the USDCHF.

What was your target profit price?

Quoting JoshDance
Last night I shorted USDCHF, and the price was going down nicely when I went to bed, about 15/20 pips, and I had a 15 pip trailing stop on it. On one of the 4-hr bars which I'm trading on I noticed that it had a lot of fluctuation, and this triggered the stop, covering me, and I wound up with a mediocre profit (but still okay) of only 10 pips.

So my question is, is the only solution to price spikes like this to set a larger stop loss or trailing stop? I don't want to lose profits, but I don't want to lose the shirt off my back either...?
  • #4
  • Apr 4, 2007 11:39am Apr 4, 2007 11:39am
Quoting mrmikal
on a 4 hour bar, you would expect your trailing stop to be outside the ATR for the bar...I'm not sure what that is for the USDCHF...spikes happen, that's a fact you're going to have to live with. The only thing you can do is monitor the trade. 15 pips trailing seems a bit small for a 4-hour bar, but then again, I'm not sure what an appropriate trail is for the USDCHF.

What was your target profit price?
Target was 1.2160 ... yeah, I guess I should just be happy with the profit and move on! :-)
  • #5
  • Apr 4, 2007 7:55pm Apr 4, 2007 7:55pm
Always sell before going to bed!
  • #6
  • Edited 8:03pm Apr 4, 2007 8:03pm | Edited 8:03pm
I beat spikes. I use no stop losses. Spike up, spike down, whip saw, no problem for me.

Some say "The sky is the limit". I say "I own the sky".
  • #7
  • Last Post: Apr 4, 2007 9:29pm Apr 4, 2007 9:29pm
Quoting JoshDance
Last night I shorted USDCHF, and the price was going down nicely when I went to bed, about 15/20 pips, and I had a 15 pip trailing stop on it. On one of the 4-hr bars which I'm trading on I noticed that it had a lot of fluctuation, and this triggered the stop, covering me, and I wound up with a mediocre profit (but still okay) of only 10 pips.

So my question is, is the only solution to price spikes like this to set a larger stop loss or trailing stop? I don't want to lose profits, but I don't want to lose the shirt off my back either...?
Should I just say "shit happens" LOL.

If you get that spike too much, you may want to increase SL. But if you get that sometimes, better if you do nothing about it. Lower profit is better than loss.
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