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Best Broker for Tight Stops

  • #1
  • First Post: Jan 3, 2013 11:12am Jan 3, 2013 11:12am
Hey guys. My current method of trading allows me to pinpoint entries with a stop of 2-3 pips max. Unfortunately I've been having trouble with my current broker. Even though I have the "trade-through" option selected on my platform, I've been getting stopped although price never touches my level. For example, last night I had entered a AUDUSD short at 1.0486 with a tight stop of 1.0488. A couple minutes later, I was stopped out at 1.04883. When looking at the chart and T&S, the highest price traded was 1.4863. So, I'm guessing that the "trade-through" feature is not working on my platform (which is unacceptable). The ask must have temporarily hit 1.0488 which stopped me out, but I shouldn't have been stopped unless the bid actually traded through 1.0488.

Hopefully everything above makes sense. I curious if anyone can recommend a broker that allows me to enter tight stops with a "trade through" function. Thanks!
  • #2
  • Jan 3, 2013 8:37pm Jan 3, 2013 8:37pm
Quoting scottymoll
Hey guys. My current method of trading allows me to pinpoint entries with a stop of 2-3 pips max. Unfortunately I've been having trouble with my current broker. Even though I have the "trade-through" option selected on my platform, I've been getting stopped although price never touches my level. For example, last night I had entered a AUDUSD short at 1.0486 with a tight stop of 1.0488. A couple minutes later, I was stopped out at 1.04883. When looking at the chart and T&S, the highest price traded was 1.4863. So, I'm guessing that the "trade-through"...
For spotfx? Check out armadamarkets, icmarkets and exness. Lots of other options.....Check out here http://www.100forexbrokers.com/
  • #3
  • Jan 3, 2013 10:29pm Jan 3, 2013 10:29pm
Quoting scottymoll
Hey guys. My current method of trading allows me to pinpoint entries with a stop of 2-3 pips max. Unfortunately I've been having trouble with my current broker. Even though I have the "trade-through" option selected on my platform, I've been getting stopped although price never touches my level. For example, last night I had entered a AUDUSD short at 1.0486 with a tight stop of 1.0488. A couple minutes later, I was stopped out at 1.04883. When looking at the chart and T&S, the highest price traded was 1.4863. So, I'm guessing that the "trade-through"...
All the broker or bank has to do is increase the spread and you are stopped out. You would have to go with a fixed spread or no spread broker. There are some that charge monthly fees to trade and no spread, or that is their claim. I would imagine if you used a computer program to close your trades rather than putting your stop at the broker. There are several which have hidden SL programs. They will place a 100 pip, or what ever number you choose, SL at the broker but the program will close out the trade if the price is hit. Price action is determined by money exchanging so if someone goes to a bank and exchanges money it will temporary change the price with the exchange. That has nothing to do with a broker that is normal market movement. 2-3 pips is going to get hit a lot no matter who your broker is. If you can return 10-15 pip profit average then you can be profitable with a 25% win rate.
  • #4
  • Jan 3, 2013 10:46pm Jan 3, 2013 10:46pm
I have to second the last reply, you need to go in for a fixed spread or you're just going to get stopped out every time the variable goes beyond the limit you set. Some of the brokers provide for fixed spread, which is great if the min is within your limit..
  • #5
  • Last Post: Mar 8, 2013 4:47am Mar 8, 2013 4:47am
I think that the question is more related to your strategy and the stops related to the strategy, boths go hand in hand in my opinion. First understand your strategy, then ask the right questions to broker. Those that use Equinex setup are usually very tight stops.
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