Confused by stop loss
Sorry you got the loss today :(
My guess is that this is a result of the Spread, which can be quite large on Gold..
Keep in mind that 'Price' is the Bid
and Sells are closed at the (higher) Ask
-BB-
Sorry you got the loss today :(
My guess is that this is a result of the Spread, which can be quite large on Gold..
Keep in mind that 'Price' is the Bid
and Sells are closed at the (higher) Ask
-BB-
I agree, it makes me wonder why a lot of people prefer using Close[0], in their code, instead of Ask and Bid.
Also keep in mind, that on test data this is just a smoothed out approximation too. IMHO It pays to put in a slippage of your own into your close point / risk management calculations.
> I agree, it makes me wonder why a lot of people prefer using Close[0], in their code, instead of Ask and Bid.
Definitely - the bigger the spread (which varies per pair with Volume and hence often varies with time of day) the more this matters
This has even more effect on crosses, AUDNZD on broker XXXX ring any bells for anyone!
And especially when you have a 0.50 lot on a tight stop on Gold....
Lets all be careful in the Forex :)
-BB-
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Hi there,
I placed 2 sell trades on Gold with stop losses on each. Both of the trades were automatically stopped out but the stock never traded at the stop loss price. The details of one of the trades below:
In the hour between 12:00 and 12:33 the open was 948.80 and high was 949.20. The price never reached the stop loss but it was still stopped out.
Why?
regards,
Stephen