Stop Hunting (I think) Got Me

Today I just had to scream. Placed a Sell order. Stop loss put at 1.38 EUR/USD....first mistake was putting it at round number (wanted to move it, but alas went on lunch break instead). Of course you know what happened to EUR/USD after that. My target was 1.3660. Just over a 100 pips in an hour...which would've made my day. Keep in mind that this wasn't a 'news trade.' I had previously placed a Sell Limit order last night and it was only recently triggered. Had nothing to do with FOMC.

I sat there and argued with my broker that the High for the hour only registered at 1.37982. Then they pointed out their High Ask price. So, my week got ruined by a mere 3 pips. 😭

I know, it happens to everyone and it's happened to me before but not like this. I've been waiting all week to take this trade, and then I get stopped out. I've had several good trades this week but all were taken at half-size positions, then followed by losers at full-size positions. Two steps forward and two and 1/4 steps back. This trade was actually at full-size position, and I would've profited nicely. Would've been best trade so far on my new real account.

Very irritated, but I guess that's what I get for not thinking about the fact that spreads widen around News time. 😑

Sad to heard that.

Use ECN Broker.
Spread make you loose. But comission does not. Pay comission instead of some spread. and save at least some of your trades.

this is safer.


BTDTR😉
good luck.

walker

   walker36 posted:
   Sad to heard that.

Use ECN Broker.
Spread make you loose. But comission does not. Pay comission instead of some spread. and save at least some of your trades.

this is safer.


BTDTR😉
good luck.

walker

Recommend best ECN? I've looked at commission brokers before but most have spread also, and their spread is not any lower than my current broker's spread. I'm at OANDA btw....I like them a lot but sometimes I think they stop-hunt.

BTW always be flexible when placing SL. you have placed it around NATURAL RESISTANCE/SUPPORT which is odd number 1.38000. you should consider + - 10 or 15 pip volatility when price reach that values.

regards

This is depends on your trading style. I can not just advise you a broker without knowing anything.

regards

   walker36 posted:
   This is depends on your trading style. I can not just advise you a broker without knowing anything.

regards

I'm U.S.-based so trading style isn't really an issue. We've got restrictions galore including 50:1 leverage. I don't trade robots. I don't trade news. Just a simple intraday system. But I prefer a broker with low-spreads yet high reputation. Someone who isn't going to take my thousands of dollars and run away. That's why I like Oanda. They're pretty simple.

what is your SL TP average values

<15 pip
>15 pip <50 pip
>50 pip <100 pip
>100 pip

   walker36 posted:
   what is your SL TP average values

<15 pip
>15 pip <50 pip
>50 pip <100 pip
>100 pip

SL: 30-40 (adjusting position size accordingly, I risk 2% or less)
TP: 75-100 (if exceed, move SL to break-even and let profits run)

Great risk reward ratio. I guess this is pushing you hard.

you can give a try to PFG Best. min account 1000 usd. spreads are really tight and comission is in between 7 to 10 usd round. you can fight with them for comission.

regards

Recommend best ECN? I've looked at commission brokers before but most have spread also, and their spread is not any lower than my current broker's spread. I'm at OANDA btw....I like them a lot but sometimes I think they stop-hunt.

I won't say they are the best, but as a US resident I'm happy with ATC Brokers. The minimum lot size is 0.1 lots, so if that's ok, you might check them out. The allow hedging by offsetting trades in their backend (FXCM), which is why I use them more than others (I'm doing ok at MB Trading as well, but their order execution is slower and they don't allow hedging).

ATC s min account openning is 5000 usd. I have no idea about his financial situtation. So advised PFG. ATC is the best of ever I have worked.

their spreads are quite the same.

But you should put 5000

regards

I have more than $5K and I do not need hedging. The thing is some ECNs charge spread + commission. I would rather pay one or the other. If they charge commission then why do they need to charge spread and likewise.

if you have more than 5K then ATC. consideer that they have also connected to the banks and they have latency. spread is covering this latency and comission is the profit.

But while trading ATC you should be carefull about Invalid price ERROR_129

they are ECN but instant order execution. SO you should set your Slippage value the max value of slippage that you can accept while your order execution. If slippage is higher then that then your order will not be filled and you will get INVALİD_PRICE_ERROR.

this is good actually. saving you entering orders with high slippage value. They fill the order with the correct price. They dont manuplate this setup to their favor. this is very important.

walker

   walker36 posted:
   if you have more than 5K then ATC. consideer that they have also connected to the banks and they have latency. spread is covering this latency and comission is the profit.

But while trading ATC you should be carefull about Invalid price ERROR_129

they are ECN but instant order execution. SO you should set your Slippage value the max value of slippage that you can accept while your order execution. If slippage is higher then that then your order will not be filled and you will get INVALİD_PRICE_ERROR.

this is good actually. saving you entering orders with high slippage value. They fill the order with the correct price. They dont manuplate this setup to their favor. this is very important.

walker

I read that ATC is a IB for FXCM....which as you may/may not know was recently fined $2 million for slippage malpractices. Any comments on that? I still might give them a try.

FXCM has got the ticket. Not ATC. You can find that detailed information in my Thread. Atc has the best slippage MINUS/PLUS.

no worries.

walker

Yes, I think the key here same size positions. I got my ass kicked last week cause increased trading sizes. I think position size should be kept same unless volatility is too high and it can be reduced form regular size to accommodate wider stops like it was few weeks ago when 5 min candles were 50 pips and instead to look for more pips. I usually use position sizing by dividing my balance either on 10 000 or 5000.
I think we all should keep same size while trading to avoid being hit hard if we increase size and lose.
I have been thinking of adding to winning position but first position must be already in profit and locked and there must be some systematic approach to this only in certain situations.

   Splexin posted:
   Today I just had to scream. Placed a Sell order. Stop loss put at 1.38 EUR/USD....first mistake was putting it at round number (wanted to move it, but alas went on lunch break instead). Of course you know what happened to EUR/USD after that. My target was 1.3660. Just over a 100 pips in an hour...which would've made my day. Keep in mind that this wasn't a 'news trade.' I had previously placed a Sell Limit order last night and it was only recently triggered. Had nothing to do with FOMC.

I sat there and argued with my broker that the High for the hour only registered at 1.37982. Then they pointed out their High Ask price. So, my week got ruined by a mere 3 pips. 😭

I know, it happens to everyone and it's happened to me before but not like this. I've been waiting all week to take this trade, and then I get stopped out. I've had several good trades this week but all were taken at half-size positions, then followed by losers at full-size positions. Two steps forward and two and 1/4 steps back. This trade was actually at full-size position, and I would've profited nicely. Would've been best trade so far on my new real account.

Very irritated, but I guess that's what I get for not thinking about the fact that spreads widen around News time. 😑

BTW you can also code a EA to hide your SL or TP from broker if you really think of hunted by broker. then broker will not see your SL and or TP. Stealth mode.

your EA will manage those levels. so they can not be hunted.

walker

   walker36 posted:
   BTW you can also code a EA to hide your SL or TP from broker if you really think of hunted by broker. then broker will not see your SL and or TP. Stealth mode.

your EA will manage those levels. so they can not be hunted.

walker

You must've read my mind because I was thinking about this. But I mean is it truly effective? When I add SL and TP to an order on my platform, it goes straight to the server, so even if the platform freezes or my computer fails those points are still in place. What happens if the EA stops working or platform freezes (preventing EA from working).....suddenly now you have no SL at all.

rule of naure you can not get something without giving anything. this is your desecion. you better know the frequency of SL/TP hunting how much it damage you and you know the frequency of freezing platform or other effects.

brokers can hunt due SL/TP are placed at their side or you can stay unprotected in the case of platform freeze.

what you can do is you can run 2 platforms at the same time with same account.
eg...
one from VPS and one from Local. I have noiced that on my trades. It is very rare of both freezes or loose connection at the same time.

you can run that EA on both platforms. there will be no conflict due you will only use it for TP/SL. and if one fails other handles.

this is your desecion.

good luck

walker