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  • #10,641
  • Edited 9:30pm Mar 5, 2014 6:37pm | Edited 9:30pm
I straddled this baby. And, I barely broke even. I was also short EUR/AUD my stop was 14 pips away from price and they closed me out because of the widening spread. That really pisses me off. I should be sitting on a nice trade right now.

Either way, this was definitely worth trading.
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  • #10,642
  • Mar 5, 2014 6:38pm Mar 5, 2014 6:38pm
Thanks Tony
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  • #10,643
  • Mar 5, 2014 6:40pm Mar 5, 2014 6:40pm
Quoting dvanderlinde
{quote} You would have needed about a 80 pip SL in order to catch it though... Not a good R:R
What happened to your order? Which broker? Negative slippage ?
  • #10,644
  • Mar 5, 2014 6:40pm Mar 5, 2014 6:40pm
Quoting jeetvirk
Thanks Tony {image}
Yes, very smart to always be buying. The spread won't knock you out of the trade.
  • #10,645
  • Mar 5, 2014 6:41pm Mar 5, 2014 6:41pm
Quoting jeetvirk
Thanks Tony {image}
wow Any slippage? Spread?
  • #10,646
  • Mar 5, 2014 6:42pm Mar 5, 2014 6:42pm
Quoting elway
been enjoying this thread and have made a few trades this week. I just bought EA with a stop at 5272 but it didn't take it out until 5256. SO my loss was a lot more than planned. Does that kind of think happen a lot... is that normal? ew
It's called slippage it happens when markets move very fast, so news trading yes it happens a lot
  • #10,647
  • Mar 5, 2014 6:44pm Mar 5, 2014 6:44pm
Quoting Naokia980
{quote} What happened to your order? Which broker? Negative slippage ?
Im talking about last months EUR Interest Rate would have needed a huge SL to catch the movement
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  • #10,648
  • Mar 5, 2014 6:44pm Mar 5, 2014 6:44pm
Quoting dvanderlinde
{quote} You would have needed about a 80 pip SL in order to catch it though... Not a good R:R
I don't know what kind of strategy you have but I never use an 80 pip stop loss. lol
  • #10,649
  • Mar 5, 2014 6:44pm Mar 5, 2014 6:44pm
Quoting Fx3422271
I straddled this baby. And, I barely broke even. I was also short EUR/AUD my stop was 12 pips away from price and they closed me out. That really pisses me off. I should be sitting on a nice trade right now. Either way, this was definitely worth trading. {image}

Another great EURAUD trade. No whiplash and greatly resisted by RN, Daily Pivot and Monthly Pivot. Made for a higher probability sell.

if you were looking as UADUSD, the daily pivot was support. Either way, spread was OK and on pepperstone the screen seems to freeze but order was filled where expected..
  • #10,650
  • Mar 5, 2014 6:49pm Mar 5, 2014 6:49pm
Quoting 45drive45
{quote} Another great EURAUD trade. No whiplash and greatly resisted by RN, Daily Pivot and Monthly Pivot. Made for a higher probability sell. if you were looking as UADUSD, the daily pivot was support. Either way, spread was OK and on pepperstone the screen seems to freeze but order was filled where expected..
I was in 4 trades 2 of them should have been winners. But, only 1 was a winner and it actually made up for all of the other 3 losers. haha

This is why this was worth trading. If this EUR/AUD spread spike wasn't a bastard, it would have added another 60+ pips to my bottom line. The spread went up and knocked me out of the trade even despite the fact that my stop was 14 pips away from the effing price!!!!! But, if I was only in buy positions this would not have happened because my broker puts the entire spread on the buy side. Either way, I am going to call them anyway because the spread going up 14 pips during news on EUR/AUD doesn't work for me.

Also, two of the losers were GBP/AUD and EUR/AUD which are more volatile, my winner was AUD/JPY. So, if AUD/JPY can make up for EUR/AUD, GBP/AUD and AUD/CAD losers this was well worth it to trade. I just have to be smarter next time and only get into buy positions so that the spread does not knock me out. I should be sitting on big gains right now.

I post these photos in memory of my winner which fraudulently became a loser. And, my only winner AUD/JPY... Thanks for making up for this brokers bullshit!!!

I also closed AUD/JPY early because I didn't even want to take a chance in getting my money back.
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  • #10,651
  • Mar 5, 2014 6:51pm Mar 5, 2014 6:51pm
HannesJoub I sometimes do get order closers too,I think it's the malfunction of some sort on the brokers side due to huge quantity of orders coming in? Just a guess.
Finally nice clean move up on AUD/USD. Managed to get 40pips,thought about leaving 1/3 of lot in case it will run further but yesterdays news price movement taught me not to...
  • #10,652
  • Mar 5, 2014 7:05pm Mar 5, 2014 7:05pm
[quote=Fx3422271;7322380]{quote} Yes, very smart to always be buying. The spread won't knock you out of the trade.[/q

My Friends just following simple Tony's rules only buying and i am risking only 15 pips on every trade around 50 $ to make 300$.
For news trading i think Oanda is best and one thing more i try to enter 5 mins before news b,cuz i some time Oanda start increasing its spred 3 to 4 mins before news..
  • #10,653
  • Mar 5, 2014 7:36pm Mar 5, 2014 7:36pm
[quote=jeetvirk;7322418]
Quoting Fx3422271
{quote} Yes, very smart to always be buying. The spread won't knock you out of the trade.[/q My Friends just following simple Tony's rules only buying and i am risking only 15 pips on every trade around 50 $ to make 300$. For news trading i think Oanda is best and one thing more i try to enter 5 mins before news b,cuz i some time Oanda start increasing its spred 3 to 4 mins before news..
Yeah, would have been about 70 pip gain on EUR/AUD. Yes, always be buying is good.
  • #10,654
  • Mar 5, 2014 7:40pm Mar 5, 2014 7:40pm
Quoting dvanderlinde
{quote} It's called slippage it happens when markets move very fast, so news trading yes it happens a lot
That is why a Sell order doing the news can be terrible, i lost 3x my SL on the AUD RBA Rate Statement news trade yesterday because of such slippage. Now i am sticking to only Buy.
I love to straddle, that way i dont care about the direction of the market, but now i have to do the straddle on two pairs e.g for AUD news i put a pending Buy order on both AUDUSD and EURAUD , though more pips comes from EURAUD and on a sell off days like today's Trade balance i will miss out, but i will try to accept some pips on AUDUSD, that outcome is much better than huge slippage on SL. Such unpredictable loss can take away MM for the news trades.
Buy Buy should be the long term target
  • #10,655
  • Mar 5, 2014 7:47pm Mar 5, 2014 7:47pm
Quoting iddy
{quote} That is why a Sell order doing the news can be terrible, i lost 3x my SL on the AUD RBA Rate Statement news trade yesterday because of such slippage. Now i am sticking to only Buy. I love to straddle, that way i dont care about the direction of the market, but now i have to do the straddle on two pairs e.g for AUD news i put a pending Buy order on both AUDUSD and EURAUD , though more pips comes from EURAUD and on a sell off days like today's Trade balance i will miss out, but i will try to accept some pips on AUDUSD, that outcome is much...
Agreed. I have to stick to this too. I would have made a killing tonight.
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  • #10,656
  • Mar 5, 2014 7:54pm Mar 5, 2014 7:54pm
Quoting jeetvirk
Thanks Tony {image}
very nice aud/usd trade
  • #10,657
  • Mar 5, 2014 8:09pm Mar 5, 2014 8:09pm
Quoting iddy
{quote} That is why a Sell order doing the news can be terrible, i lost 3x my SL on the AUD RBA Rate Statement news trade yesterday because of such slippage. Now i am sticking to only Buy. I love to straddle, that way i dont care about the direction of the market, but now i have to do the straddle on two pairs e.g for AUD news i put a pending Buy order on both AUDUSD and EURAUD , though more pips comes from EURAUD and on a sell off days like today's Trade balance i will miss out, but i will try to accept some pips on AUDUSD, that outcome is much...
1000% amen to this.

Find a currency pair that supports the BUY order.
  • #10,658
  • Mar 5, 2014 8:51pm Mar 5, 2014 8:51pm
With several trades this week I've been stopped out with +/- 15 pip SL by a mere 2-3 pips and then a reversal of + 40-50 pips which would have been winners. Are we setting the SL large enough? Seems you almost have to do a 20+ pip SL on many of these...I know Tony suggests 18 pip SL on the biggies and less on the others.
With the Aud/Usd today it shot down about 6-8 pips...My broker spread went to 10-12 pips for a second or two...That ain't a lot of breathing room...The R:R isn't as sweet but 20:50-60 still ain't chopped liver!!
  • #10,659
  • Mar 5, 2014 9:25pm Mar 5, 2014 9:25pm
Quoting Wigglesworth
With several trades this week I've been stopped out with +/- 15 pip SL by a mere 2-3 pips and then a reversal of + 40-50 pips which would have been winners. Are we setting the SL large enough? Seems you almost have to do a 20+ pip SL on many of these...I know Tony suggests 18 pip SL on the biggies and less on the others. With the Aud/Usd today it shot down about 6-8 pips...My broker spread went to 10-12 pips for a second or two...That ain't a lot of breathing room...The R:R isn't as sweet but 20:50-60 still ain't chopped liver!!
I don't know about your trades, but for me I know what the problem was. MT4 plots the charts using the "bid" price so therefore the charts are favorable for long positions. All of the times I have ever been stopped out unjustifiably I was in a short position.
  • #10,660
  • Mar 5, 2014 9:34pm Mar 5, 2014 9:34pm
Quoting elway
been enjoying this thread and have made a few trades this week. I just bought EA with a stop at 5272 but it didn't take it out until 5256. SO my loss was a lot more than planned. Does that kind of think happen a lot... is that normal? ew
Which broker do you have? I usually don't have slippage like that. I haven't had slippage like that in awhile.
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