Gold is spikey. It is crap market to trade if you need to use tight stops or are a day trader. Gold is best left to lower frequency wider stop trading. So if when you do get slippage it doesnt happen often and will be a smaller fraction of the orginal stop distance.
It seems that is the case. My assumption was that it was a really liquid market and this kind of stuff doesn't happen but looks like i was wrong.
lol, i figured that out 3 years ago. It burnt me many times. It also fooled me with its 100K+ volume. The only commodity that i know of that is even vaguely suitable for day trading is crude oil and even then you often get much more slippage on your stops than FX and Index futures.
I follow GC closely, and actively trade it. Right now I'm trading Feb GC. I don't see a time today when you would have had "slippage" of $10 on a one lot in the Feb contract. OldTrader
10 points NOT 10 dollars! i guess i didn't phrase it correctly. Slippage was 10 ticks. what i really wanted to know was if anyone else had a simmilar story to mine?
10 ticks is peanuts. 50 ticks on no news happen many times a year. 100+ ticks on news. Gold is spikey.
I agree that oil is probably the best commod to day trade, but I disagree on the slippage part. I often trade crude with a 5¢ stop and almost never get slippage. The only time I get fucked is during news and that is to be expected.
Seems i get more slippage on gold then on the currency contracts. Even though gold seems to have higher volume go figure. You would think more volume = better execution but i guess not always! Live and learn!