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  • #741
  • Mar 21, 2016 11:50pm Mar 21, 2016 11:50pm
Quoting bagman
{quote} I don't see how slippage is a problem
Tell that to all those who were long on EURCHF on Jan 15th last year.
  • #742
  • Edited Mar 22, 2016 12:36am Mar 21, 2016 11:58pm | Edited Mar 22, 2016 12:36am
Quoting jen101
{quote} Tell that to all those who were long on EURCHF on Jan 15th last year.
Well provided they were with one of those more reputable brokers, those who were short on EURCHF on that day were on their knees offering all kinds of gifts to whatever Gods/Goddesses they believe in for the same slippages.
Make your losses in demo. Earn your profits live.
  • #743
  • Edited 1:10am Mar 22, 2016 12:52am | Edited 1:10am
Quoting tylerbose
well since this debate has switched into a Broker discussion, l'd like to add my grain of salt and tell you about my personal experience. when i opened my account, few years ago everything was fine, the execution was excellent and so was the spread. my strategy was really dependent on it, as a scalper/spike trader every millisecond count. my first week of trading was a grate success, i made 100% ROI, every trade went as it should. the second week....things begun to go south, i experienced slippage on most on my trades i lost a big part of my profit...
I had the SAME EXACT EXPERIENCE when I used a tickscalper strategy at Pepperstone and ICM, with the only difference that the meltdown - due to HUGE slippages - started to happen to me after 3-4 weeks (but that was the time when my ROI has reached 100%).

At the end there were some trades when my 3 pips Stop Losses were triggered on my "Razor" (yeah...) and "True ECN" (sure...) accounts practically SIMULTANEOUSLY WITH THE TRADE ENTRIES (on EUR/USD where the displayed spreads were 0.2 - 0.5 pips).

In other words: Both brokers have put their nasty "virtual dealer plug-ins" on my accounts...

One might say that it is "off-topic".... But no...!

Even though @tylerbose and me had profitable strategies, brokers SIMPLY DO NOT let profitable scalpers stay alive.

The CASINO always HAS TO WIN....
  • #744
  • Mar 22, 2016 12:56am Mar 22, 2016 12:56am
Quoting Forexia
{quote} Well provided they were with one of those more reputable brokers, those who were short on EURCHF on that day were on their knees offering all kinds of gifts to whatever Gods/Goddesses they believe in for the same slippages.
I was SHORT on EURCHF on that memorable day, but still my sell trade was closed with a LOSS by a nasty broker (when a smaller TP was triggered)... Probably they have opened the spread in both directions...

Again: The CASINO always HAS TO WIN....
  • #745
  • Mar 22, 2016 12:56am Mar 22, 2016 12:56am
Although most people will say that slippage is used to make you lose, im a see it to believe type of guy and have not seen it used in this way yet. And i prefer to take what i see with my own eyes over something written by someone i do not know on the internet.

Why do i believe this? I have seen many times either by looking at my SL position and then the actual close price as well as watching trades live. Yes, slippage can make your close price on a loss a little more, but it can also make your profit more. I have seen this many times on a live trade.

It is not rare to see a TP level broken through on news for example by 10+ pips before closing in my experience anyway. So if slippage is just a factor of using systems that need to pass through various stages before the task is complete, or "Software" used by brokers it is a double edge sword that can be bad but also good. At least in my experience.

If you experience bad slippage and the broker blames IT issues or lag then change brokers to one with better IT structure. If all brokers do this then its your decision to continue or stop. The definition of stupidity is to keep doing the same thing but expecting different results

People may disagree with what i say but its what i have experienced and seen with my own eyes. So each to their own. In a nut shell, i am yet to see slippage only happen one sided (ie. Only on SL to make me lose more). If i do, i may be back to tell you a different story. But over 3 years and still waiting...
  • #746
  • Mar 22, 2016 2:28am Mar 22, 2016 2:28am
Quoting MasterGuru
{quote} I was SHORT on EURCHF on that memorable day, but still my sell trade was closed with a LOSS by a nasty broker (when a smaller TP was triggered)... Probably they have opened the spread in both directions... Again: The CASINO always HAS TO WIN....
That's WHY I said "PROVIDED they were with a more reputable broker". Perhaps I should've put "provided" in capital letters in my original message. I dunno which broker you were with but it looks like it's one of those casino brokers.
Make your losses in demo. Earn your profits live.
  • #747
  • Mar 22, 2016 2:35am Mar 22, 2016 2:35am
Quoting mrhigurashi
Although most people will say that slippage is used to make you lose, im a see it to believe type of guy and have not seen it used in this way yet. And i prefer to take what i see with my own eyes over something written by someone i do not know on the internet. Why do i believe this? I have seen many times either by looking at my SL position and then the actual close price as well as watching trades live. Yes, slippage can make your close price on a loss a little more, but it can also make your profit more. I have seen this many times on a live...
I think you have a point but I have to say that with the brokers I have used, especially IC markets, the slippage on a pending order buy or sell level always seems to be more then at the TP level! Same market conditions but it's never in the punter's favour.

The only way around it is to trade with limit orders but of course one needs a really good technical trading system or strategy to identify the right levels to set one's trades at. That way slippage is in one's favour both sides of the trade. You can also set up your TP and SL levels well in advance and just wait for price action to come to you. It's a different way of trading but as you can see with traders like GDR it works!
  • #748
  • Mar 22, 2016 2:35am Mar 22, 2016 2:35am
Quoting MasterGuru
{quote} I had the SAME EXACT EXPERIENCE when I used a tickscalper strategy at Pepperstone and ICM, with the only difference that the meltdown - due to HUGE slippages - started to happen to me after 3-4 weeks (but that was the time when my ROI has reached 100%). At the end there were some trades when my 3 pips Stop Losses were triggered on my "Razor" (yeah...) and "True ECN" (sure...) accounts practically SIMULTANEOUSLY WITH THE TRADE ENTRIES (on EUR/USD where the displayed spreads were 0.2 - 0.5 pips). In other words: Both brokers have put their...
Did you use MT4? I dunno how many times I need to stress this on this forum: DO NOT use MT4!! WHY are people still using MT4 when you know there is Virtual Dealer Plug-in available for the broker to use at any time to requote, stop-hunt, delay execution at their whims? Especially if you are scalping, every single 1/2 pip counts!! Use cTrader or any other platform BUT MT4!! You are paying commission either way so WHY are you using a platform that you know actually provides tools to the broker to cheat? You like to lose or something?
Make your losses in demo. Earn your profits live.
  • #749
  • Mar 22, 2016 2:45am Mar 22, 2016 2:45am
Quoting jmtini
{quote} I think you have a point but I have to say that with the brokers I have used, especially IC markets, the slippage on a pending order buy or sell level always seems to be more then at the TP level! Same market conditions but it's never in the punter's favour. The only way around it is to trade with limit orders but of course one needs a really good technical trading system or strategy to identify the right levels to set one's trades at. That way slippage is in one's favour both sides of the trade. You can also set up your TP and SL levels...
Yeah. But as you say how it effects you is really dependent on your trading and how bad it is. If it really is a broker doing something on purpose to try and make you lose then better move on and trade somewhere else. Id say general scalpers would be the ones who suffer. Thankfully i don't scalp and don't have this trouble very often. Even if i do experience slippage its not to the point where it puts me at a loss significant enough to be worried. If i have a TSL that should be profit of $100 when hit but actually closes for $100.01, im not about to cry about it because in reverse my TP would general experience the same and close at $100.01. So works out for me.
  • #750
  • Mar 22, 2016 2:45am Mar 22, 2016 2:45am
Quoting mrhigurashi
Yes, slippage can make your close price on a loss a little more, but it can also make your profit more. I have seen this many times on a live trade. It is not rare to see a TP level broken through on news for example by 10+ pips before closing in my experience anyway. So if slippage is just a factor of using systems that need to pass through various stages before the task is complete, or "Software" used by brokers it is a double edge sword that can be bad but also good.
You are lucky that you are with one of the more reputable brokers that actually slip you positive slippages and in that case, yes slippages becomes a double-edge sword and actually can potentially benefit you in a fast-moving market. But when you are with one of those what I call casino brokers, they only slip you the negative slippage and just fill you at the quote price when there is positive slippage to your favour thus swallowing all the positive slippages themselves. Both FXCM and Gain Capital had been caught doing that and both brokers had been fined by the CFTC and have since started slipping you both ways or at least FXCM has done so since the fining. But ASIC doesn't care so I am not surprised that ASIC brokers like Pepperstone and IC Markets are only slipping traders one way to the broker's favour. When I was with IC Markets about two years ago, I would still get positive slippages occasionally on cTrader (I do NOT ever touch MT4) but I guess it might have changed now.

And I agree if you see you are constantly being slipped negative slippages but never positive ones, then it's time to close your account with the broker and move on. No point sticking with a broker when you can't make any money. We are traders. We are trading to make a profit NOT to be the ATM machine for the broker and it's just amazing how brokers constantly forget that.
Make your losses in demo. Earn your profits live.
  • #751
  • Mar 22, 2016 3:01am Mar 22, 2016 3:01am
Best thing to do is ask your broker. If they don't want to answer or give you the run around well then you know what you have to do! But then again, they may just give you critic answers like the ones below from Pepprstones PDS and FSG. From what i understand they are saying they have no conflict of interest but their relationships might LOL....

23.1
We do not have any relationships or associations, which might influence us in providing you with our
services.

8.
1
Pepperstone
has a relationship with its nominated Execution and Clearing Broker. These relationships in
no way influence the provision of financial services by
Pepperstone
.
8.
2
Pepperstone has a relationship with its Liquidity Providers and Prime Brokers. These r
elationships may
influence the information provided to clients.
  • #752
  • Mar 22, 2016 3:22am Mar 22, 2016 3:22am
Quoting Forexia
{quote} Did you use MT4? I dunno how many times I need to stress this on this forum: DO NOT use MT4!! WHY are people still using MT4 when you know there is Virtual Dealer Plug-in available for the broker to use at any time to requote, stop-hunt, delay execution at their whims? Especially if you are scalping, every single 1/2 pip counts!! Use cTrader or any other platform BUT MT4!! You are paying commission either way so WHY are you using a platform that you know actually provides tools to the broker to cheat? You like to lose or something?
In those days cTrader was just emerging and I did not know about those f**ing "plug-ins".

But you gave me an idea... I will reprogram my scalper to cTrader and give it another try. Thanks!

P.S. Nevertheless, I might just find out that there are "plug-ins" for cTrader, too..
  • #753
  • Mar 22, 2016 3:40am Mar 22, 2016 3:40am
there are not reliable ctrader brokers.
  • #754
  • Mar 22, 2016 3:54am Mar 22, 2016 3:54am
Quoting MasterGuru
{quote} I had the SAME EXACT EXPERIENCE when I used a tickscalper strategy at Pepperstone and ICM, with the only difference that the meltdown - due to HUGE slippages - started to happen to me after 3-4 weeks (but that was the time when my ROI has reached 100%). At the end there were some trades when my 3 pips Stop Losses were triggered on my "Razor" (yeah...) and "True ECN" (sure...) accounts practically SIMULTANEOUSLY WITH THE TRADE ENTRIES (on EUR/USD where the displayed spreads were 0.2 - 0.5 pips). In other words: Both brokers have put their...
Not buying your story. You lost your nerve after getting stopped out a few times. If you want to be the leet scalper with 3 pips stop you can't just blame broker everytime you get stopped out. You want to play high risk like that that's what happens. Keep blaming the broker or some plugin. Much easier than accepting that you could not handle getting stopped out this quick.
Price-Action Extremist
  • #755
  • Mar 22, 2016 4:06am Mar 22, 2016 4:06am
Quoting bagman
{quote} Not buying your story. You lost your nerve after getting stopped out a few times. If you want to be the leet scalper with 3 pips stop you can't just blame broker everytime you get stopped out. You want to play high risk like that that's what happens. Keep blaming the broker or some plugin. Much easier than accepting that you could not handle getting stopped out this quick.
That's fine... Don't believe it, which will not change the facts...
  • #756
  • Mar 22, 2016 4:57am Mar 22, 2016 4:57am
instead of arguing about brokers which one's are not con-men please someone has to know of a good honest one with low charges and I will be ​
  • #757
  • Mar 22, 2016 5:11am Mar 22, 2016 5:11am
Quoting Ross88
instead of arguing about brokers which one's are not con-men please someone has to know of a good honest one with low charges and I will be ​
"Honest Broker" - well, that is a real OXYMORON...

Further examples:

Attached Image
Attached Image
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  • #758
  • Mar 22, 2016 5:20am Mar 22, 2016 5:20am
Quoting MasterGuru
{quote} "Honest Broker" - well, that is a real OXYMORON... Further examples: {image}{image}{image}
so you don't think there are honest broker and and bagmen thinks they are all pretty honest and I think they must be some were in the middle do you have one to recommend for a inexperienced trader like myself (my top 3 to look into are (FMCX) (Oanda) (FXopen)​
  • #759
  • Mar 22, 2016 5:27am Mar 22, 2016 5:27am
Quoting Ross88
{quote} so you don't think there are honest broker and and bagmen thinks they are all pretty honest and I think they must be some were in the middle do you have one to recommend for a inexperienced trader like myself (my top 3 to look into are (FMCX) (Oanda) (FXopen)​
@Ross88

Then obviosuly you should ask not me, but "Mr. Bagman"...
  • #760
  • Mar 22, 2016 5:36am Mar 22, 2016 5:36am
Quoting Ross88
{quote} so you don't think there are honest broker and and bagmen thinks they are all pretty honest and I think they must be some were in the middle do you have one to recommend for a inexperienced trader like myself (my top 3 to look into are (FMCX) (Oanda) (FXopen)​
I don't think you will find your answer here or anywhere in fact. Best way is to try for yourself. I am yet to see any broker that has 100% positive comments. As you know with the internet now everyone's a critic.

Funny is that you look at Bagman and that other MasterGuru but they are both at the extremes. Bagman is the guy who is 100% pro Forex and MasterGuru is 100% anti Forex (or anti broker, still not sure). Better take note of the people who are non biased and admit that yes, some if not all brokers have their tricks but its not the end of the world...?

I personally never take advice from someone who can only show a problem without any solution though...
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