SL of sell order hit but I do not understand why | Forex Factory

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SL of sell order hit but I do not understand why

  • #1
  • First Post: May 30, 2017 11:28am May 30, 2017 11:28am
In the EURUSD 1 minute chart you can see big candle up. When I mouse over this candle, I see high price 1.11934.

But SL has hit at 1.11947

Spread is 1.2 pips.

So how it has hit?

I have read that on chart there is shown lower price. But to close a sell order I have to buy at higher price.

Ok so higher price would be 1.11934 + 1.2 pip = 1.11946

So there was 0.1 pip till SL. Am I missing something?
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  • #2
  • May 30, 2017 8:03pm May 30, 2017 8:03pm
Quoting SPeedFANat1c
In the EURUSD 1 minute chart you can see big candle up. When I mouse over this candle, I see high price 1.11934. But SL has hit at 1.11947 Spread is 1.2 pips. So how it has hit? I have read that on chart there is shown lower price. But to close a sell order I have to buy at higher price. Ok so higher price would be 1.11934 + 1.2 pip = 1.11946 So there was 0.1 pip till SL. Am I missing something? {image}
Brokers (most) don't have a "fixed" spread so when price spiked the spread likely increased to 2-5. Your SL would have been hit on any broker.
  • #3
  • May 30, 2017 8:35pm May 30, 2017 8:35pm
Quoting SPeedFANat1c
In the EURUSD 1 minute chart you can see big candle up. When I mouse over this candle, I see high price 1.11934. But SL has hit at 1.11947 Spread is 1.2 pips. So how it has hit? I have read that on chart there is shown lower price. But to close a sell order I have to buy at higher price. Ok so higher price would be 1.11934 + 1.2 pip = 1.11946 So there was 0.1 pip till SL. Am I missing something? {image}
Spread widens on volume spike. So the spread at that point in time could be higher therefore would have easily hit with most broker.
Muahahahhahah...
  • #4
  • May 30, 2017 10:56pm May 30, 2017 10:56pm
Quoting srt
{quote} Brokers (most) don't have a "fixed" spread so when price spiked the spread likely increased to 2-5. Your SL would have been hit on any broker.
but the thing is my broker has fixed spread
  • #5
  • May 31, 2017 12:07am May 31, 2017 12:07am
Quoting SPeedFANat1c
{quote} but the thing is my broker has fixed spread
Which broker is that? Maybe contact their support team if you felt cheated.
Muahahahhahah...
  • #6
  • May 31, 2017 12:24am May 31, 2017 12:24am
Quoting srt
{quote} Brokers (most) don't have a "fixed" spread so when price spiked the spread likely increased to 2-5. Your SL would have been hit on any broker.
Right......... OMG, you have 44682 in profit........ really?
  • #7
  • May 31, 2017 12:47am May 31, 2017 12:47am
Clich on closed trade in terminal and drag and drop on chart. It will plot trade on chart then you can see what happened.
  • #8
  • May 31, 2017 1:04am May 31, 2017 1:04am
Quoting SPeedFANat1c
{quote} but the thing is my broker has fixed spread
right click pair and check specifications. check if it is really fixed spread. you might want to read the PDS carefully before contacting them, as they will quote u the PDS if there is one. usually brokers that offer fixed spread, offers it under normal trading conditions. ie no major fundamental/black swan release. if they are still offering fixed spread thruout such events, i can honestly tell you that you are trading at an artificial price which is prone to manipulation
  • #9
  • Jun 2, 2017 11:46pm Jun 2, 2017 11:46pm
Quoting Bicarus
{quote} right click pair and check specifications. check if it is really fixed spread. you might want to read the PDS carefully before contacting them, as they will quote u the PDS if there is one. usually brokers that offer fixed spread, offers it under normal trading conditions. ie no major fundamental/black swan release. if they are still offering fixed spread thruout such events, i can honestly tell you that you are trading at an artificial price which is prone to manipulation
in specification as you can see in screenshot it is number 12. So fixed.

What is PDS? where to read it?

By the way there was no red news for eur or dollar at that time as I see in forexfactory list of events. So I would say it is normal conditions. I think trump has tweeted something or so which caused this move.
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  • #10
  • Jun 18, 2017 4:49am Jun 18, 2017 4:49am
NOticed I have missed few posts.

Quote
Right......... OMG, you have 44682 in profit........ really?

haha - I wish it was true

Quote
Clich on closed trade in terminal and drag and drop on chart. It will plot trade on chart then you can see what happened.

tried that and I just see it closed on price which was not existing in chart. You can see small triangle above the candle in attached picture.
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  • #11
  • Jun 18, 2017 6:43am Jun 18, 2017 6:43am
Contact your account manager / support team. If they do give you any money back, make sure it's in the form of real money and not a bonus with terms and conditions.

Be sure to have that in writing, or record the conversation.
  • #12
  • Jun 18, 2017 11:39am Jun 18, 2017 11:39am
I contacted them. Its just demo money, but I still want to understand whats happening before using real money. So we will see what they reply.
  • #13
  • Jun 20, 2017 10:55am Jun 20, 2017 10:55am
Quoting SPeedFANat1c
{quote} in specification as you can see in screenshot it is number 12. So fixed. What is PDS? where to read it? By the way there was no red news for eur or dollar at that time as I see in forexfactory list of events. So I would say it is normal conditions. I think trump has tweeted something or so which caused this move. {image}
PDS is product disclosure statement. brokers usually send it to you when you open an account or can check their website, usually under the legal section..

Not sure which day u traded, and trump tweets nonsense everyday. so depending, how badly his tweet was that caused the black swan.

as many have said, before me, brokers offer fixed spread is one thing. but that is under normal conditions.

if a broker is offering you a fixed spread, means that they are only earning a fixed amount from you. however do note that interbank and ecn also has spreads. if interbank and ecn spread widens beyond 12 points, your broker will not be able to still offer you 12 points fixed at that precise moment. similarly at the end of NY session, when liquidity is at it's worst, eurusd spread on the interbank can go up to 2 pips for the first hour of NZ's open. u might want to try an experiment and check it out if your spread increases greater than 12 points during that time.

example of pds clause:-
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  • #14
  • Last Post: Edited 1:12pm Jun 20, 2017 12:58pm | Edited 1:12pm
Quote
however do note that interbank and ecn also has spreads. if interbank and ecn spread widens beyond 12 points, your broker will not be able to still offer you 12 points fixed at that precise moment.

yea, but they collect a ton when ecn offers narrow spread. So it should compensate for rare times when spread is increased.

But ok, if thats the case, then its not a fixed spread its minimum spread I will need to read the PDS later, or they will have to reply. They still did not reply. But ok, its a demo money, so I understand them that I am not a priority.


Quote
trump tweets nonsense everyday
so why the marked care about him then

Btw it happened at 2017 05 30 13:44:50 not sure which time zone it is , but it show 1 hour less than Vilnius time time.
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