Secrets of your broker - page 21
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As I said before I will not say exactly which order is actually opened instead of the so-called stop loss (by definition it is just a sell stop) - I will only be able to check it tomorrow, but the fact does not change - at large price movements you will close in a bigger loss than you expected!
It is absolutely true that a stop loss is nothing more than a sell stop. It is obvious - it is executed at the worst market price and at Bid, which leads it to the spread widening. Which I had to prove :-D.
You're quoting yourself :D Loss and profit are conditional profit and loss, they all have the same purpose, it's a stop. And how you close in + or - depends on you. You can call it a profit or loss, you can call it anything you like. You can call it sell loss or sell profit; the essence of stop will not change.
Today I'm kind - I'll open your eyes :-D The word loss is translated into Russian as "loss". Correspondingly, stop loss is a loss limitation. To close a loss in the + by definition is impossible! ;)
Close in "+" or "-" you can close any order, but we are talking about a stop loss. The profit or loss you will close "+" or "-" does not depend on you. It depends on the market. If it has gone in the opposite direction and is not going back there you will not close it in "+" no matter what kind of deposit you have)
Go on. Profit. Specifically Take Profit - translated as "profit taking". Take Profit is a reverse open Limit Order so that you could "fix" the profit. Thus, it can close either at the specified price or with a positive slippage, and you will not incur losses in any case!
And lastly,"it depends on the broker, the slippage he allows". The broker does not allow anything. In the contract it is written in black and white that the slippage is not limited and the user himself responsible for the possible losses! If the franc price slipped by 2,000 pips, you will close there!
The quotes are quoted to make it clearer what I am talking about. ))
Today I'm kind - I'll open your eyes :-D The word loss is translated into Russian as "loss". Correspondingly, stop loss is a loss limitation. To close a loss in the + by definition is impossible! ;)
Close in "+" or "-" you can close any order, but we are talking about a stop loss. The profit or loss you will close "+" or "-" does not depend on you. It depends on the market. If it has gone in the opposite direction and is not going back there you will not close it in "+" no matter what kind of deposit you have)
Go on. Profit. Specifically Take Profit - translated as "profit taking". Take Profit is a reverse open Limit Order so that you could "fix" the profit. Thus, it can close either at the specified price or with a positive slippage, and you will not incur losses in any case!
And lastly,"it depends on the broker, the slippage he allows". The broker does not allow anything. In the contract it is written in black and white that the slippage is not limited and the user himself responsible for the possible losses! If the franc price slipped by 2,000 pips, you will close there!
Just when you open your eyes to me, don't close yours!
The broker is responsible for the slippage. Otherwise drifting would be the most popular activity, among brokers. Especially when the loss is being trimmed. Spontaneous slippage occurs when the broker has no time to process orders. These situations are usually referred to as non-market or disputed situations. You can request to recover the loss because the obligation was not met, if there was no stop, then this is your problem. The broker is not liable for your losses.
In addition, I showed you a real deal on the skin, the stop loss was closed in the plus. And you're like a record stop loss, it's a must loss. Unless you reconsider your view of trading, stop loss will still be a profit cutting button.
I know what and how it translates as well as you do. Only the button has a general idea, expressed in the name. And the essence of its performance, expressed in its action. Stop Loss can be closed with a smaller profit or a bigger loss. And a text profit with a bigger profit or smaller loss.
You're messing with my head.
On the skin, line 2 is marked in red plain English and says Stop loss
I do not protect floating profits even with such stop-losses (it happens rarely but at a great distance). Because if a change in the main trend is not expected, I use a pullback (correction) to increase the volume by opening a new position(s).
If such a stop loss is set to protect existing profits, as if by chance, the price goes to it like a magnet. It cuts it off. And then continues to move further as if nothing had happened. So I either have a long distance, where it is impossible to hunt it. Or without it at all.
Is there anyone who used to work in a brokerage firm to tell secrets?
That is correct. If you protect an existing floating profit margin with Stop-Loss on loss limitation, then it will look red (as shown in the screenshot) when it triggers, in the history of transactions. This stop loss was in the breakeven zone. The trader used it to protect the profit. Whenever a stop loss is triggered, it is always displayed in red. And it is not necessarily a loss.
I do not protect floating profits even with such stop-losses (it happens rarely but at a great distance). Because if a change in the main trend is not expected, I use a pullback (correction) to increase the volume by opening a new position(s).
If such a stop loss is set to protect existing profits, as if by chance, the price goes to it like a magnet. It cuts it off. And then continues to move further as if nothing had happened. So I either have a long distance, where it is impossible to hunt it. Or without it at all.
Don't get your hopes up. Nobody is after your stoplosses. Quotes are the same for all market participants, at least at the same office. For example, you put a stop-loss at some price and someone put a take-profit for the opposite order at the same price. But your volume is 0.1 lots and TP for an order of 1 lot. What sense would it make for a broker to go after your stop?
The truth is I had a case. I increased 100 dollars to 7000 in a month or so. I ordered the money for withdrawal. I waited for a week. They do not withdraw and do not say anything. I would not withdraw. But the market was just for me, so I invested 10 lots at night on eurofunt. I entered the market with 10 lots in the night of the euro pound. They flooded the market with 4 digits and they dumped my deposit. My broker did not have such a jump. The brokerage firm is a small enough kitchen. I did not see any other broker who would do that. All my claims were left unanswered. It was in 2007. Now normal brokers are overlapped with prime brokers. In their brokerage firms the glass is real and the volume with 0.1 lot is incomparably bigger.
In general, stoploss is applied when the situation does not develop as you expected or when some important price level is supported. A large option for example. Usually, a stop-loss is placed at a few points behind the local extremum. Well, this is what the smart books recommend.
All I have concluded is that if you set a stop loss, the position will be cut.
This has happened so many times that there is no other conclusion to be drawn.
And then there are only regrets that a correctly predicted position (knowingly profitable) is suddenly taken out.
This is the main reason why I very rarely use stops on large losses.
They probably take a non-disclosure pledge, like the secret service, only "in their own way" :))
I'm sure their accounts are monitored.
And taking subscriptions.
And they're telling us what they do for a living.
Otherwise we'd be seeing comments from different brokers on the Net.
And they don't.
So they can only read our posts.
Follow us.
Analyse us.
Take steps to sharpen their work based on what they learn from us.
Surely they have stats data on public opinion.
A kind of marketers.
They read us and understand the direction of our thoughts.
They study our tricks and manners in bidding.
No matter how you look at it, they are after us.