CL Redux

July 1, 2011, 10:12 a.m. EDT
Dollar index adds to gains after ISM data

SAN FRANCISCO (MarketWatch) -- The dollar gained more ground Friday after the Institute for Supply Management said its index of manufacturing activity unexpectedly rose to 55.3% in June. The dollar index (NYE-DXY) , which measures the greenback's performance against a basket of six global currencies, rose to 74.635, from 74.560 before the data and 74.314 in late North American trading on Thursday. The euro (ICAPC:EURUSD) fell to $1.4455, from $1.4469 before the report and compared to $1.4502 Thursday
 
Quote from ZEAK:

So if I had my target order a stop, instead of a stop limit, there would have been slippage.....but the good kind??
More...

No.

A sell stop can only be placed below the current price, because a sell stop at .90 says, "sell when the market reaches .90 or lower" ... if you're currently at .80, then it would trigger immediately and you'd sell at the market. A sell limit is placed above the current price and says "sell at .90 or higher." A sell limit placed below current price would trigger immediately because it says "sell at XYZ price or higher," and price is currently higher, so it will sell at market.

If you're long, your stop loss order is a stop because it's below the last traded price, and your take profit order is a limit because it's above.

It would virtually take an act of god to receive "good slippage" on a market order.
 
Quote from Visaria:

no, why? trading august.
More...
Didn't seem like it was trading where you were posting. That's why I didn't understand.


BTW Shaken out of my .00 long. :( Some days it's happening and some days it isn't. :)
 
Quote from JoshDance:

No.

A sell stop can only be placed below the current price, because a sell stop at .90 says, "sell when the market reaches .90 or lower" ... if you're currently at .80, then it would trigger immediately and you'd sell at the market. A sell limit is placed above the current price and says "sell at .90 or higher."

If you're long, your stop loss order is a stop because it's below the last traded price, and your take profit order is a limit because it's above.

It would virtually take an act of god to receive "good slippage" on a market order.
More...

Sure. I use sell and buy stops to enter long or short. And use the same for targets and stops, but I always seem to get slippage when my stops are hit, but never when my targets are. Makes me wonder.....
 
You must log in or register to reply here.
Back
Top