Reduce slippage with a Stop Limit Order

Hello

I want to seek opinion from experienced traders here.
Is it a good approach to send a stop Limit order to reduce slippage?

To my understanding, Entry should be near the target because of the limit price. I understand that I may not get in board by my entry not triggered if price do jump above this limit, but it should not happen to often in Forex


Martin

I don't use stop limits, so can't say for certain, but i would think usually the times you will be getting slippage are the times your limit will not trigger (unless price comes back to it), so you are effectively choosing not to trade if there is slippage or hoping price will come back.

In the real world though this will vary from broker to broker and also depend on if they are a marketmaker, or REAL ecn. Funnily enough i've found most of the marketmakers i've used rarely give me slippage on my stops, but you pay for it with the spread.

I wouldn't worry too much about slippage, either way you are going to pay one way or another, just make sure you are not with a dodgy broker. The question i would be asking is, is my method profitable enough to deal with the slippage/spread...