GBP/USD Stoploss at 1.8945 did not excuted at 8:30am (EST), stopped at 1.8979. somebody else? Thanks
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Quoting stockwetDislikedI think if you guys examine some of the other recent posts, you'll see that slippage is happening all over the place. The market is gapping quite frequently here in August. It may be a side effect of the summer season, or there may be other problems. But slippage complaints are coming from all over, not just InterbankFX. I had 13 pips slippage today using CoesFX. So, keep a level head and lets see if this begins to work itself out as summer ends.Ignored
Quoting BurgerKingDislikedCoesFX?
I heard they are in a law suit? Someone is suing them.Ignored
QuoteDislikedTrading During Economic or Geo Political News releases
In the case of significant economic releases, like non-farm payroll, there could be a significant gap from the price of a currency and the price immediately after. We have seen a gap on the gbpusd of 150 pips about three years ago. Basically what occurs is right after a release all of the Offers in the market go away from the current price. Banks can move their offers significantly from where it was prior to the release. This was the case on Friday the 4th of August 2006, the Market reacted negatively toward the dollar and the EURUSD and GBPUSD jumped significantly. If someone has a resting order such as a buy stop or sell stop, those stop orders are activated and turn into market orders and then are filled at the current prevailing market price. A buy stop or sell stop is not a guaranteed order at a certain price. It simply turns into a market order when it is activated and it then filled at the current prevailing price. The actual fill on a buy stop or sell stop could vary significantly from the original order price during significant market moves or gaps, during an economic release like non-farm payroll.
Quoting BurgerKingDislikedHave you visited CFTC website?
Check the financial data. Their capitalization was over 1M last January and is not less than 2K in June?Ignored
Quoting nvwineDislikedI have an account with Interbank FX as well as a couple of other brokers. I used to trade the news but now it no longer works consistently with most brokers. IBFX has the following warning on their web site:Ignored
QuoteDislikedOf all the world monthly economic reports that can move the currency market, this is it! The monthly US Non Farm Payroll report. This report is the most highly anticipa! ted report each month that can have the most dramatic impact on the markets.
Quoting stockwetDislikedThat's kind of funny considering they send out an email to their customers every month before NFP letting them know that it's a great trading opportunity. An excerpt from the email:
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Quoting stockwetDislikedSorry if this is old info for some. I think it's important to understand the typical mechanics of slippage so that people can figure out how to minimize it as best as possible. I say typical because this post clearly doesn't address any broker shenanigans. So, assume the broker is dealing honestly.
Prior to a news announcement, most people set buy or sell stop orders in order to catch the move. Yesterday, I set a buy stop order on the EUR at 1.2807, anticipating a strong bull move. As the announcement comes in, the market begins to move. In my case yesterday, ticks came in at around 1.2796, but then the next tick came in at 1.2820. In the case of these orders, where a tick never came in at your price, you get traded at the next available tick. In my case, that was 13 pips away from my desired entry point.
These gaps are only sometimes represented on the chart. Usually, small slippage like this is not well represented, sometimes it is.
If a broker guarantees your fills, then think about what that means for them. In my case, the market jumped 13 pips. If my broker had guaranteed my entry, then, I would have been entered into the market at 1.2820, but my entry price would have been represented at 1.2807. Guess who pays the difference - your broker. Most brokers aren't keen on paying all those pips out when the market skips.
So, how do you eliminate skips? Well, think about the factors in the market that can cause it. Sometimes, the entire market moves at once. For instance, with the FOMC announcement, nearly everyone anticipated a pause. So, everyone was positioned and ready to pounce on the dollar. Almost at once the market moved when the news was confirmed.
However, another cause for gaps is liquidity. If you're trading with a broker who has a single bank relationship, then, you have a representative market of 1. The likelihood that that one bank will gap is fairly high. However, if your broker has a relationship with 10 banks, and you're getting aggregated feeds, well, the probability that ticks will come in at your price during fast markets is fairly high. In other words, because there are more banks giving the feed, you have a higher probability of having ticks come in near your price because you have a wider market.
Not sound like an ad campaign, but, this is the primary reason I switched to CoesFX. As an ECN, CoesFX has a true aggregated feed from a number of different banks and market makers. They also have a corporate strategy of constantly increasing their number of liquidity providers. I say that they have a true aggregated feed because I have doubts about some of these other brokers who say they do. But, that's another topic.
So, my point is, find a broker that has access to the largest portion of this enormous market to ensure you have excellent liquidity. I'm crossing my fingers with CoesFX, so, I'll have to see how it goes. I did notice incredibly fast execution with my market orders as the market slowed - a problem I had with other brokers after a fast move.
Regards,
stockwetIgnored
Quoting forexplayerDislikedVery Good information Stockwet, thanks for sharing that with us. So does that imply that there would be zero slippage with an ECN like CoesFX? Or more realistically , the slippage could be very minimal in the order of 1-5 pips? tia.Ignored
Quoting BurgerKingDislikedAre you saying that inspite of the law suit and the very not nice CFTC data, you are still putting your money under coesfx?Ignored
Quoting stockwetDislikedBurgerKing,
Hmm, I'm not sure you read my posts about those things. Look, if you're not comfortable with them, then you don't have to use them. Why do you keep bringing it up though when I've already answered your previous posts?
stockwetIgnored
Quoting piccoloDislikedI'm considering CoesFX, too. At the moment they look like the best option for a broker that uses MT4.
stockwet, what about rollover charges? are they ok?Ignored
Quoting BurgerKingDislikedAre you saying that inspite of the law suit and the very not nice CFTC data, you are still putting your money under coesfx?Ignored
Quoting mrmikalDislikedBK,
This has been explained several times in multiple threads. So let's lay it down...CoesFX is liable by proxy because the Introducing Brokers who scammed those people was introducing through CoesFX. They will have to pay some form of penalty for not screening their IB's more closely, but the amount of punative damages that can be claimed against CoesFX will be minimal because CoesFX entered into the relationship with the IB's with the expectation that the IB's were working honestly. Besides, has the lawsuit even been settled?
If it hasn't, then you need to reserve judgement...here in the states, all parties are innocent until proven guilty.
If they have settled the lawsuit, then you have to see that CoesFX is still running perfectly fine, so...what's the line of questioning getting at?
Stock-y is entitled to his opinion and he is more than free to put his money at any broker he sees fit. He has answered the lawsuit issues in multiple threads and it seems pretty clear cut.
As far as I can tell, CoesFX hasn't skipped a beat since the lawsuit, but obviously, we'll keep our ears peeled for any info from the vine.Ignored