Large or small Slippage, which is better?

macpee  
I was wondering the use of slippage and what value to specify? MT4 documentation uses 3 for slippage. Can slippage minimize the annoying requote when trying to place an order? What value of slippage can minimize 'requote'? Can I use slippage as large as 20 or just use 0? Thanks in advance.
Eleni Anna Branou  
macpee:
I was wondering the use of slippage and what value to specify? MT4 documentation uses 3 for slippage. Can slippage minimize the annoying requote when trying to place an order? What value of slippage can do this please minimize 'requote'? Can I use slippage as large as 20? Thanks in advance.

It depends on your strategy, if you are scalping on M1 or M5 timeframes, you should use the lowest slippage possible, but if you are trading on larger trends & higher timeframes you could accept larger slippage values.

macpee  
Enrique Dangeroux:
With market execution, slippage is ignored.
I doubt if this is true. When then is slippage used if not at trade exection?
Alain Verleyen  
macpee:
I doubt if this is true. When then is slippage used if not at trade exection?

He said "market execution" in opposition to "instant execution".

Slippage is ONLY used in "instant execution", on "market execution" it's irrelevant and ignored.

macpee  
Alain Verleyen:

He said "market execution" in opposition to "instant execution".

Slippage is ONLY used in "instant execution", on "market execution" it's irrelevant and ignored.

Hmmmm. I never knew market execution does not include instant execution.
macpee  
Amir Yacoby:
Yes, if you get requote it means you are at execution mode where you are requesting an order by a specific price (and not the best price available like in market execution for instance) and thus you can use the allowed slippage.
I am not satisfied with your answer. All you did was explain what slippage is. My question is to know how slippage can possibly be used to overcome requote (even at the said instant order). My guess is that with large enough slippage a trader is believed to tolerate the  new price during requote, as long as the shift in price is still within the slippage value specified.
Enrique Dangeroux  
macpee:
Hmmmm. I never knew market execution does not include instant execution.

Maybe research what is the difference. 

The best slippage is positive slippage. The next *best* slippage is as low as possible if it is not positive, As it makes you enter the market at WORSE price.

The best way to overcome requote is to have large slippage. This is not what you want.

Change broker!

Gong876  
Can somebody teach me how to make a proper news auto trader?