Questions: to start with MetaTrader and forex - page 94
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thx for your answer. However I understand that I pay commission - this is cost 1, I pay spread - even if it 1 pips - this is cost 2, and I pay for slippages - this is cost 3. As for me cost 1 and cost 2 - are quite stable and I can calculate it, however, cost 3 is changeable, so today I can get positive slipaage +10pips, but tomorrow get negative -100. So, my key question, as you trade with ECN broker, you have a strategy, you have a potential gain, as you have calculated it on you historical data, so how much do you count for slippages??
If you are trading ECN your slippage mainly depends on 2 things :
1. Market offers (for buy and sell) - depending on available prices and the maximal slippage you allowed, somewhere in between you are going to have your order filled
2. The "chain of command"
. More or less like this : ECN broker will not execute orders from small traders first, but orders from big, contracted clients. Then comes some kind of fifo and it all depends on where are you in that list of users waiting to get their orders filled and what are the available prices and amounts then. The cost of all that will not depend on when your order is executed
If you are trading ECN your slippage mainly depends on 2 things :
1. Market offers (for buy and sell) - depending on available prices and the maximal slippage you allowed, somewhere in between you are going to have your order filled
2. The "chain of command"Do you mean IOC orders, or how do you range slippage??
Do you mean IOC orders, or how do you range slippage??
Any order at all. We should be at clear : we (the small traders) are not on the top of the list when it comes to executing orders and because of that, the prices "slippage" will be always larger for us than for the "1st class" clients
but you can't range slippage for market order, or pending stop order. or I don't understand you
Non-Farm Employment Change (NFP) is coming today.
So I will be appreciate, if someone, who trade this news, will share their slippages statistics.
Thx in advance.
Non-Farm Employment Change (NFP) is coming today.
So I will be appreciate, if someone, who trade this news, will share their slippages statistics.
Thx in advance.The slippage changes so fast that you can not execute orders at that speed (re quote, wrong price, ... you can not register it)
You can not know what the slippage will be - it depends from an order to an order
In accordance with nbtrading.
How much do you suggest to start with?
When we enter the Forex world, we should start doing first practice on a demo account with an amount equal to what the planned one future trading with a real account.
Because I noticed that many beginners normally open demo accounts with $ 5,000 or $ 10,000 on, and so it is easy to start with, then without any real knowledge come with $ 100 in a real account. Result, many accounts and sometimes jump after losing their money, give up, or many continue indefinitely, as if they were playing roulette at this point you will become addicted forex and only after a long period of time give up losing money. Why do not we have enough knowledge and develop emotions are not compatible with Forex.
It is usual that people "need" money quickly, and that is why they start trading. And then they loose. I saw a lot of people that had no idea at all about trading, lost their job, and they started hoping that they will make what they could on a job. That is the same old thing : desperation makes people lose