Weekly Thread: Sep. 21 - 26
- Thread starter rezo_s
- Start date
Quote from rezo_s:
Huge gap here on opening, euro opened at 1.1459, but do to "no slippage" and my strictly using orders policy, trade was closed at 1.1405...well, not bad at all even as it is: booking 232 pips of profit (+9.28%).
MTD:+7.14%.
USDCHF trade open.
Please explain your ' "no slippage" and my strictly using orders policy'. I don't understand it.
Any Broker that guarantees order fills will fill order no matter what. For example, Refco will execute your order despite the gap. I had a take profit order order over the weekend oneuiro trade @1.1405. The market opened above that level, but my order was executed at set level anyways. That actually good when market goes against you. If trade is open, and you have a stop loss, and market opens with gap below your stop (if you were long), it will be also executed at set level, and not the first market price. About the strict order policy - I always put both orders- stop and take profit. I prefer not to close trade manually - especially when we talk about stop loss.
The market is pretty good to sell the USD now, and entry signal is in place, but stops are very large. I use large stops, but now its way big to enter and targets are not that clear. For example, if I enter long euro now ( its at 1.1448 at the monent), stop should be around 1.1330/40, and target I see feasible is only around 1.1570. Better to let market calm down a bit before entering. Plus we have a very strong reversal/correction signaling daily candles - better to wait.