Acceptable levels of slippage on stop order in MT4

I was just wondering what acceptable levels are.
45 pips slippage acceptable on a stop order?

Also maximum deviation from quoted price. Do brokers respect that or not?

http://i57.tinypic.com/5ewi39.jpg

45pips is not acceptable. I would eventually ocasionaly accept up to 6-8pips if the maket mooved very very fast with big mooves. But 45pips is way to much.
What broker is that ? What time and pair ?

Slipages and spreads can vary a lot from one broker to an other.
Look at how your spread get bigger at the daily closure.

Surikat,

My broker normally takes around 1.2 to .8 pips per round trip. This is for Stop and Limit orders. For Market Execution Orders only God knows. Don't ask about news. Due to certain restrictions, I can't use any Broker I want. But without getting into Broker Names, what should be tge ideal condition or rather prevailing condition of slippage for Retail Traders like us :-(

This ECN broker is one of top when it comes to reputation amongst traders. Maybe even the very best reputation. I don't dare to post the name. FF bans people very easily for things like that. They call it revenge post.

You see that little red line in the middle of the bull candle? that's my buy stop order. Did Not fill until at the top where you see the arrow.

Man, I never faced a situation like this or I was not aware of that. They say even with ECN there is no counter party particularly if the order lot is small. Then I feel I am far better off with my unregulated broker. Then there is are platforms where traders trade against each other without the LP and all traders want to sell without the LP. or am I naive. ?

It's just a mess. There is no accountablility for the broker or the LP. They can basically blame whatever they want. Usually liquidity.
I am also starting to think maybe DD brokers are better. At least there is some kind of accountibilty compared to ECN brokers.

Guys all:

The slippage is not controlable in real A-Book/ECN/STP market. Remember if we sell then we need on another side a buy guy. And also is not the same sell 0.01 lots or 0.1 lots or 1.0 lots or 10 lots.

Regards

Yes, and no. It's not legal to overcharge somneone for a trade/fill a trade. Just like you cant charge extreme ineterest rates(usury).
I have mostly been effected when trading NZDUSD. Anything from 23 to 45 pips.

45 pips is basically 100 times more than advertised. It is not my responsibility to negotiate good low fast spreads and fills with the liquidity providers. It's the brokers job. Thats what they get paid for. If their negotiation has been bad or if the companies/banks can't provide the brokers liquidity for the retail traders the brokers still have to fullfill their responsibilty according to the terms and conditions of when you sign up AND the law and regulations. YTou guys talk like they can do what the fuck ever they want. If more traders complained maybe we wouldnt be in this mess that we are right now.

But yes, the game is basically rigged for MT4 brokers. I also believe metaquotes has a huge part in mess.

but in their conditions they always mention that slipage can happen and that spread can get bigger during high volatily or low liquidity.

Hi AngryTrader,

Also certain brokers have good fills for certain Pairs. Its better to stay with the good ones of your broker. Brokers are customers for MQ and other Platforms. I believe they demonstrate with a PPT on how to have an upper hand on the retail trader. Thats why they are the most preferred platform (for the dealer). Since so much money and lives are involved they should open source the server and client software. Someone (Kathy Lien) told its better to hedge with SPOT fx. Imagine if we go to the counter and buy physical currency and price shooting up like this :-)

One other problems is that we only have market orders. Fill or kill orders would have solved lot of these problems but as you state it is not in their interest.

Quite acceptable for news. My SL are 70-80 pips away from a supposed entry point while trading news. But for sideways market it's too high I guess.

Who is talking about SL? We are talking about slippage.
But seriously you have 70-80 pips SL? What is your TP? 2-300 pips?
That sound like an awesome strategy...

If they're a real ECN/A-book only, it's not really their fault.

Maybe they can upgrade their servers/get better connections to liquidity providers or source for deeper pools of liquidity, but apart from that, these things happen. Remember, it can happen in your favour too. In this case if your limit order had been TP, it would have filled +45 pips in your favour. This is called positive slippage, and true ECNs have that.

Oh btw, these things tend to happen more often when you are trading against the dominant trend/order-flow (when price is heading up, mostly limit orders are stacked below to buy so such slippage seldom occurs), so... another reason not to I guess.

The way the books work is that market orders (incl all kinds of stops sent to broker) get the first price with others to match against. If your trade idea is to "chase" a price moving up fast then the problem is that the price may be moving fast because it's the price discovery process where sellers are found. The brokers may show you ask is "100" then you send "buy market" and then turns out the next seller was selling for "1000" so you paid 1000 instead of 100 which the broker shows you. They can get away with this because "market order" is saying "buy/sell at any price, just get me in/out no matter what". This allows any middle men in the process between you and the seller to make sure you pay the worst price possible. (eg. maybe there are sellers at 101 but the middle men buy those and then sell to you at 1000). This possibility for front running is unavoidable with market orders unless everyone is trading at same (honest) exchange or direct. Of course lot of the stock exchanges weren't honest - they made special order types for big volume hft clients that allowed jumping queue etc.

That sounds like pretty extreme example but that's rough version of what probably went down in "flash crash" in the regulated stock markets except instead of 1000 someone sold at 0.01 if they used stops below where buyers were. (and even if your stop is placed among buyers, a big traders limit order has priority, so they get to sell to every buyer and then you get to sell at 0.01 and they buy at 0.01 - in "perfect score" scenario). Some markets have % limits on how much price can move in certain time but the moves may go on in markets where such limits are not in place. Summary: if you don't know how the market works (most MT4 users don't as MT4 hides it) then surprises will be in store eventually.

Additionally certain brokers have great fills for specific Pairs. Its better to remain with the great ones of your broker. Brokers are clients for MQ and different Platforms. I trust they exhibit with a PPT on the most proficient method to have a high ground on the retail dealer. That is the reason they are the most favored platform. I never confronted a circumstance like this or I didn't know about that. They say even with ECN there is no counter gathering especially if the request parcel is little. At that point I believe I am much better off with my unregulated broker.