SL triggered even when price wasn't near to it. Slippage or spread?

New comment
 

So yesterday my SL was hit on GBP/CAD even thought price was nowhere near my SL. I was at the transition of NY session and Syndey session, so it's natural that price does some weird stuff. But i've never seen this much distance between the price on the chart and real time price. (Pic 1)


Today the same happened on EUR/GBP, this was in the middle of London session and already in NY session. Yes price got alot closer than with the GBPCAD example, but there should be alot less unpredictable stuff happening like in low volume sessions. I once again took another loss even though my SL was not hit on the chart. (Pic 2)

I'm not here to whine about it forever. What can i do to prevent this? Adjusting SL seems stupid since im already adjusting it accordingly. Any tips? 

 

From the images, it looks like the spread was widening, not necessarily slippage.

However, in your images, you don't have your Ask line enabled, which would allow you to monitor the spread more easily in real-time. So enable it.

Also, by using the desktop terminal, you can use the Symbol's panel (Ctrl-U) to have a look at the Bid and Ask prices at the time, so you can confirm what happened.

It is always good to study the spread behaviour of the symbol you trade. By knowing its minimum, average and its maximums at different times of the day, you can adjust your strategy accordingly.

Remember the following ...

There is a Ask price and a Bid price. Charts only show the bars/candles based on Bid (or Last) prices.

  • A "buy" position opens at the Ask price and closes at the Bid price.
  • A "sell" position opens at the Bid price and closes at the Ask price.
Enable the Ask price line on your chart so that you can track the current value visually.
 

Hey man, thanks for the quick reply! I enabled it now so i'll be able to use it for future trades. Could be that spread just got super high on the time of the transition of the markets. Just my luck i guess. Thanks again!


Fernando Carreiro #:

From the images, it looks like the spread was widening, not necessarily slippage.

However, in your images, you don't have your Ask line enabled, which would allow you to monitor the spread more easily in real-time. So enable it.

Also, by using the desktop terminal, you can use the Symbol's panel (Ctrl-U) to have a look at the Bid and Ask prices at the time, so you can confirm what happened.

It is always good to study the spread behaviour of the symbol you trade. By knowing its minimum, average and its maximums at different times of the day, you can adjust your strategy accordingly.

Remember the following ...

There is a Ask price and a Bid price. Charts only show the bars/candles based on Bid (or Last) prices.

  • A "buy" position opens at the Ask price and closes at the Bid price.
  • A "sell" position opens at the Bid price and closes at the Ask price.
Enable the Ask price line on your chart so that you can track the current value visually.
New comment