10 point slip on commex gold?
- Thread starter Razorsharp
- Start date
I'm looking at my archived transaction and order book data. Can't really dump it into a screen.
The price might have rebounded hard if the pros wanted to use the stops to get long and were prepared to soak up all the selling. In this case they were probably already short (can't be sure obviously) and just needed to push the price into the stop zone to set off a freefall.
And yeah, the typical spread on the GC is NOT 10 ticks. Ludicrous statement.
Doubt it would have helped. Would have probably just sat in the book as the price sailed merrily south. Was a high risk entry. The OP did the right thing biting the bullet and getting out.
Yeah i was looking to catch a bear trap, but looks like i got caught LOL.
Live and learn thats trading for ya.
Live and learn thats trading for ya.
If trading the overnight session (especially anytime on a Sunday) then all bets are off as to where market orders will get executed (although 135 ticks is truly epic). These sessions should be plastered with the disclaimer: Any resemblance of efficient price discovery in the market action during these times is purely coincidental.
Final word from me...of all the contracts I trade the 6E is kindest to me. Might be to a few of you too.
All the best folks
Scoob
I got 10 tick slip during peak conditions, imagine during overnight.
all bets are off as they say!
all bets are off as they say!
Terminology: a "point" is $1. A point is not a tick.
Slippage of 10 ticks overnight is bigger than normal, however if you placed your stop at an obvious place, such as below a recent low, then other people will often have stops at the same level and you'll get bad slippage. 10 ticks is fairly common if you get stopped out at an obvious point and the market spikes through your stop price. I regularly (maybe once a week or so) see stops trigger and move gold $2-3 instantly.
10 ticks is $100 dollars per contract.