filter to avoid huge slippage

[NWG_student]

On friday I was trading CAD news, and choose usd/cad as my pair. I was bracketing the price, placing buy stop and sell stop 7 pips away from market price 5 seconds prior to release.

Notice the price didnt move one single pip up toward my buy limit, anyway both pendings was triggered at the very same time, even with a 14 pip distance, which means price would bounce up and down in matters of milliseconds which the candle dosent tell me.

both orders were opned with no less than 29 pip slippage and were closed within an eye blink. Even with that bad entry this would according to my chart been a profitable trade. Both my sell position and buy position was closed immedeatly, SL was set at 10pip.

In my eyes this is scam, and what im asking if there is a way to protect your orders from this kind off ripoff. Should I be conserned and consider to change broker or is this "normal"?

Se attached screenshot for a visual description.

If someone has a script or something to protect your account from slippage and spread scams please feel free to share.

Thanks in advance.

 

[Pharaoh]

Any chance of redoing that chart with prices visible on the Y axis?

I'm not sure you could devise a bot or script to avoid slippage on exit. You can set up (at least for market orders), you can specify max deviation that you'll accept.

I suggest turning on the ask line. On short time frame charts, it makes the spread very visible. If you have a pair of hedged pending orders and the spread goes wild, both can activate and slip past their stop-losses in a fraction of a second.

 

[iMusingKiMi]

I avoid to trade on fundamental, so I does not have experience entering even 5 mins on high impact. But I agree what Pharaoh said that there are max deviation options there to choose. Even 50 or 100 pips in a matter of second won't surprising me at all during high impact.

 

[bigdolly]

On friday I was trading CAD news, and choose usd/cad as my pair. I was bracketing the price, placing buy stop and sell stop 7 pips away from market price 5 seconds prior to release.

Notice the price didnt move one single pip up toward my buy limit, anyway both pendings was triggered at the very same time, even with a 14 pip distance, which means price would bounce up and down in matters of milliseconds which the candle dosent tell me.

both orders were opned with no less than 29 pip slippage and were closed within an eye blink. Even with that bad entry this would according to my chart been a profitable trade. Both my sell position and buy position was closed immedeatly, SL was set at 10pip.

In my eyes this is scam, and what im asking if there is a way to protect your orders from this kind off ripoff. Should I be conserned and consider to change broker or is this "normal"?

Se attached screenshot for a visual description.

If someone has a script or something to protect your account from slippage and spread scams please feel free to share.

Thanks in advance.

View attachment 17681

Requesting audit as an option. Maybe your orders were processed off-market.

USD/CAD? Usually it has normal liquidity, odd enough.

What is an execution type? (STP 99% or Scam ECN 100%)

 

[robertrfx]

I avoid to trade on fundamental, so I does not have experience entering even 5 mins on high impact. But I agree what Pharaoh said that there are max deviation options there to choose. Even 50 or 100 pips in a matter of second won't surprising me at all during high impact.

Yeah, I also never trade during these news events. Not only the slippage but also the quick movements may hit our Stop loss levels.

 

[iMusingKiMi]

Yeah, I also never trade during these news events. Not only the slippage but also the quick movements may hit our Stop loss levels.

Yeah, maybe I am just a fully technical trader and I don't understand fundamental trading at all. Hence, I will just avoid and fundamental news with high impact, especially NFP, ECB, Interest Rates etc. No point to me to trade with something I don't have knowledge, and technical trading only profitable if you are patient enough. At least the price move slowly, but steadily.

 

[downtrend]

Yeah, maybe I am just a fully technical trader and I don't understand fundamental trading at all. Hence, I will just avoid and fundamental news with high impact, especially NFP, ECB, Interest Rates etc. No point to me to trade with something I don't have knowledge, and technical trading only profitable if you are patient enough. At least the price move slowly, but steadily.

you are right, I had traded some major news for some time but then these variable spreads had started to arise a serious problems as these spreads are increased during news time causing a late entry or trigerring both pending orders.

 

[NWG_student]

Thanks all for your views, I will be looking into deviation

I asked my broker for a detailed log, and it looks like everything went down 100% after the book and unfornatly what happend was simply that price wasnt availible so order were triggered at next availible price.

For order #8564110 this order opening condition was met when the Market offer exceeded 1.12657 at 15:30:00.325
The subsequent S/L set at 1.12216 and confirmed by us at 15:30:00.934 was triggered only 22ms later.

For order #8564111 this order opening condition was met when the Market Bid fell 1.12501 at 15:29:55.235
The subsequent S/L set at 1.12305 and confirmed by us at 15:30:00.763 was triggered 193ms later with a small positive improvement on your desired price.

During this short period the spread ranged between zero and 12.1 pips. It is this factor that had the main impact on your trading results last Friday.


#8564110
2014.11.21 15:29:55.110 109.189.217.61 '9797': order buy stop 0.40 USDCAD at 1.12657 sl: 0.00000 tp: 0.00000 exp: never
2014.11.21 15:29:55.110 '7': request from '9797' (buy stop 0.40 USDCAD at 1.12657 sl: 0.00000 tp: 0.00000)
2014.11.21 15:29:55.110 EBR '7': confirm '9797' buy stop 0.40 USDCAD at 1.12657 sl: 0.00000 tp: 0.00000
2014.11.21 15:29:55.111 109.189.217.61 '9797': order #8564110, buy stop 0.40 USDCAD at 1.12657
2014.11.21 15:29:55.111 EBR '9797': open order #8564110 modified by API
2014.11.21 15:30:00.541 '9797' activate order #8564110 at price 1.12316 with SLIPPAGE -341 small pips; commission = -2.400000
2014.11.21 15:30:00.541 EBR '9797': open order #8564110 modified by API
2014.11.21 15:30:00.815 109.189.217.61 '9797': modify order #8564110, buy 0.40 USDCAD at 1.12316, sl: 0.00000 tp: 0.00000 -> sl: 1.12216 tp: 0.00000
2014.11.21 15:30:00.815 '7': request from '9797' (modify #8564110 buy 0.40 USDCAD at 1.12316 sl: 1.12216 tp: 0.00000)
2014.11.21 15:30:00.933 EBR '7': confirm '9797' modify #8564110 buy 0.40 USDCAD at 1.12316 sl: 1.12216 tp: 0.00000
2014.11.21 15:30:00.934 109.189.217.61 '9797': modified #8564110, buy 0.40 USDCAD at 1.12316, sl: 1.12216 tp: 0.00000
2014.11.21 15:30:01.008 '9797' close order #8564110 by STOP_LOSS at price 1.12189 with SLIPPAGE 27 small pips
2014.11.21 15:30:01.008 EBR '9797': order #8564110 closed by API

#8564111
2014.11.21 15:29:55.175 109.189.217.61 '9797': order sell stop 0.40 USDCAD at 1.12501 sl: 0.00000 tp: 0.00000 exp: never
2014.11.21 15:29:55.175 '7': request from '9797' (sell stop 0.40 USDCAD at 1.12501 sl: 0.00000 tp: 0.00000)
2014.11.21 15:29:55.306 EBR '7': confirm '9797' sell stop 0.40 USDCAD at 1.12501 sl: 0.00000 tp: 0.00000
2014.11.21 15:29:55.307 109.189.217.61 '9797': order #8564111, sell stop 0.40 USDCAD at 1.12501
2014.11.21 15:29:55.307 EBR '9797': open order #8564111 modified by API
2014.11.21 15:30:00.470 '9797' activate order #8564111 at price 1.12205 with SLIPPAGE 296 small pips; commission = -2.400000
2014.11.21 15:30:00.470 EBR '9797': open order #8564111 modified by API
2014.11.21 15:30:00.720 109.189.217.61 '9797': modify order #8564111, sell 0.40 USDCAD at 1.12205, sl: 0.00000 tp: 0.00000 -> sl: 1.12305 tp: 0.00000
2014.11.21 15:30:00.720 '7': request from '9797' (modify #8564111 sell 0.40 USDCAD at 1.12205 sl: 1.12305 tp: 0.00000)
2014.11.21 15:30:00.762 EBR '7': confirm '9797' modify #8564111 sell 0.40 USDCAD at 1.12205 sl: 1.12305 tp: 0.00000
2014.11.21 15:30:00.763 109.189.217.61 '9797': modified #8564111, sell 0.40 USDCAD at 1.12205, sl: 1.12305 tp: 0.00000
2014.11.21 15:30:00.990 109.189.217.61 '9797': modify order #8564111, sell 0.40 USDCAD at 1.12205, sl: 1.12305 tp: 0.00000 -> sl: 1.12305 tp: 1.12005
2014.11.21 15:30:00.990 '7': request from '9797' (modify #8564111 sell 0.40 USDCAD at 1.12205 sl: 1.12305 tp: 1.12005)
2014.11.21 15:30:00.990 EBR '7': reject '9797' modify #8564111 sell 0.40 USDCAD at 1.12205 sl: 1.12305 tp: 1.12005 (1.12189 / 1.12273)
2014.11.21 15:30:01.070 '9797' close order #8564111 by STOP_LOSS at price 1.12273 with SLIPPAGE 32 small pips
2014.11.21 15:30:01.070 EBR '9797': order #8564111 closed by API

Well I got the lesson at expenses of 2 loosing trades, and will not bracket the market in order to catch high impact moves anymore