Hi,
My strategy suffers from widening spreads during news. You can see my recent thread here about perhaps another trick that a broker that can take advantage of to hunt stops.
http://www.forexfactory.com/showthread.php?t=33114
Given that I don't trade news, and I hold trade from a day to a few days (and my stop loss are not real tight, they are around 40 - 50 pips for GBP/USD, for instance), you might find it suprising that my strategy is affected by the widened spreads but indeed, it is. Even the GBP/USD is volatility has dropped by a so much and so it doens't move fast enough away from my SL and so from time to time unavoidably I will find that the market price is close to my stoploss like just 10 pips away from the market price just before the many major announcements each week (and many brokers like Oanda widened their spreads for each pair at least a few times each week).
Many times I found that my SL is taking out by the widened spreads and then it goes to my original flavorable direction.
So, to aviod these problems, I welcome all suggestions to recommend some reliable/well establish brokers (no new/unknown brokers please) that don't widen spreads or just widen theirs spreads a little during news based on your actual experience with that brokers. REQUOTES and FREEZE of platforms just before/during news are VERY WELCOME. Just please don't hunt stops. I don't plan to enter new positions during news, just don't want my stops be taken out by the widened stops (see my link above). I am looking for brokers that don't frustrate their clients who already hold positions just before news, but only frustrate those who don't have positions and want to jump in to trade news because they will get requotes/platform freeze.
Thanks!
My strategy suffers from widening spreads during news. You can see my recent thread here about perhaps another trick that a broker that can take advantage of to hunt stops.
http://www.forexfactory.com/showthread.php?t=33114
Given that I don't trade news, and I hold trade from a day to a few days (and my stop loss are not real tight, they are around 40 - 50 pips for GBP/USD, for instance), you might find it suprising that my strategy is affected by the widened spreads but indeed, it is. Even the GBP/USD is volatility has dropped by a so much and so it doens't move fast enough away from my SL and so from time to time unavoidably I will find that the market price is close to my stoploss like just 10 pips away from the market price just before the many major announcements each week (and many brokers like Oanda widened their spreads for each pair at least a few times each week).
Many times I found that my SL is taking out by the widened spreads and then it goes to my original flavorable direction.
So, to aviod these problems, I welcome all suggestions to recommend some reliable/well establish brokers (no new/unknown brokers please) that don't widen spreads or just widen theirs spreads a little during news based on your actual experience with that brokers. REQUOTES and FREEZE of platforms just before/during news are VERY WELCOME. Just please don't hunt stops. I don't plan to enter new positions during news, just don't want my stops be taken out by the widened stops (see my link above). I am looking for brokers that don't frustrate their clients who already hold positions just before news, but only frustrate those who don't have positions and want to jump in to trade news because they will get requotes/platform freeze.
Thanks!