Is this slippage or what!

Quote from Bitstream:

ib takes part of the blame for placin' trust in counterparties for your transactions that are completely crooked, and takin' thier side when they do somethin' utterly unjustifiable, but heck what can u do, other than take your loss and move on by kissin' goodbye the bandits of db and the likes for good.
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I don't know if I would blame IB. In all fairness to them, they make forex trading available to us if we wish to indulge; they do not force us to trade fx. I'm sure other markets are not 100% honest either. The fact that forex is unregulated lends itself to forex being more crooked than other trading markets. From what has been stated in this thread, it appears that the most crooked entities are probably the banks that clear the forex trades. I guess there is a reason that Deutsch bank is called "douche bank". :D
 
fyi... I took a look at the bid/offer prints in the futures. During the same time period the spread on futures went as wide as 27 points.

So it's difficult to say which market you would have got a better fill on.

My guess is that you would have got a slightly better fill in the futures. This move was not a spike, but a valid move down. Remember although IDEAL-Pro has a number of liquidity providers - they are major investment banks using automated systems - thus, they are likely to adjust to a price change very quickly.

In the futures markets, these type of participants would adjust just as quick - the difference is that you have alot of slow moving retail orders in the futures market who are unable to adjust their orders as quickly, so you can often execute against these prices.

Hope that helps
 
Quote from cscott:

Allow me to back up a bit. Please elaborate and tell me exactly what you mean by stating "It was just a function of the market at the time?" Are you saying that:
1) There were no tradeable prices during that time
2) My stop was executed too slowly and that's why I got stopped out at a worse price, OR
3) Something else?
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STEVE at IB: In case you missed the above previous post in this thread, would you mind answering the above? Otherwise, I believe #2 is correct.

Also, can you tell me why Oanda can fill a stop closer to the price than IB? Others here have given their opinion, but I'd like to hear yours. Thnx.
 
Quote from cscott:

STEVE at IB: In case you missed the above previous post in this thread, would you mind answering the above? Otherwise, I believe #2 is correct.

Also, can you tell me why Oanda can fill a stop closer to the price than IB? Others here have given their opinion, but I'd like to hear yours. Thnx.
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- I have never traded with them so don't really know. Also unless you had a stop in with them at exactly the same time, I don't see how this can be assumed.

Now - if you did have a stop at the same time - and you did get a fill at your stop - as this was a valid move down, then this would imply that they were slow to update their pricing.

Thus, the question is like asking me why is Oanda 1.2595 bid, but Deutsche Bank are 1.2550 and four other banks are 1.2588 bid.

Perhaps they are price-followers - ie. waiting for the bank quote first and then updating their prices - this would introduce a slight lag - but you would need to check this with them. In which case, if you automate your system, maybe this is something that you could take advantage of.

Again, I posted the information previously, there was no delay in your stop trigger.

In times of market volatitility in any market you can get the bid jumping erratically. The FX market - spot and futures- around news is possibly the worse of the lot. I've seen two market orders in the FX futures sent within a fraction of a second but get filled 80 pips apart. That's the function of the market.

{Side note: Also remember that some shops use last as a stop trigger, whereas we use double bid/offer}.
 
This thread is what you get when you have people who don't understand markets trading. In a market you get the price the other participant is willing to offer you - you have now had your lesson cscott. :D

Cscott, you should go to Oanda. Have a lot more fun.
 
Quote from Steve_IB:

Again, I posted the information previously, there was no delay in your stop trigger.

In times of market volatitility in any market you can get the bid jumping erratically. The FX market - spot and futures- around news is possibly the worse of the lot. I've seen two market orders in the FX futures sent within a fraction of a second but get filled 80 pips apart. That's the function of the market.

{Side note: Also remember that some shops use last as a stop trigger, whereas we use double bid/offer}.
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Thank You for the info. Now, if I remember correctly how stops are triggered can be changed in TWS, so would changing our stops from double bid/offer to last give a better stop result?
 
Quote from cscott:

Thank You for the info. Now, if I remember correctly how stops are triggered can be changed in TWS, so would changing our stops from double bid/offer to last give a better stop result?
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You can't. It is indeed a user option in TWS, but not for IDEALPro.
 
Going back to the original subject, look at this tick chart, it tells the story. This is on a GAIN feed, and CAD news this morning.

Just look at the gaps, this is why you do not get filled during fast markets. If you look at a 15 min chart this would look like an orderly run up, completely seamless in its moves. And you think that the prices are being filled incrementally pip by pip to the top. But when you break it down to the ticks the story is quite different.

I did not include pricing on the chart because the chart would have been too big, but between 88 and 98 there were no ticks, that means if you missed the 88 entry you would have waited till 98 and we do not know the size at 98 so who knows were you might have gotten filled.

And that my friends is why trading news, while it looks good on paper, does not work in reality.

the ever NO news trading VIPER
 

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