nothing necessarily systematic nor permanent here, plus it shld be looked at on a broker case by case basis, and in most (99%?) instances its simply a result of across-the-board normal dealer inventory management, but... at a single broker/dealer the quotes you get may be shifted 1-2 pips against you if you are in the market for that specific pair, thus triggering stops 'earlier' than they would have if you'd been flat at that particular broker... in any case, this is not whats going to make or break you as a trader, hence my initially 'dismissive' response... and as roberk says, if your worried about it, just do what he says, or use an ECN-type broker who accepts stop orders... in any case its normal practice to have at least 2 brokers, for tons of obvious reasons... hope i don't need to explain that one too have a nice week-end!
one last thing, in fast markets, its fairly frequent for big players to simply sweep the order book and take out everything in say, up to 5 pips from mid-price... similarly when a big custie suddenly hits a small single b/d with a string of 10mio bullets, the dealer inventory management system is going to start shifting quotes swiftly and perform similar type 'wide' sweeps internally and/or on the market so as to lay off risk... and take out your stops in the process even if that price wasn't touched at another broker's (and things go back to 'normal' at your own broker's within minutes)... and its even worse if this happens when the mkt's quiet... ok the wife is yelling now... gotta go... )))))
You just put a limit order in at the other broker at the same level you would have put a stop at your original broker. If it is triggered you have two postions at two brokers, one long and one short. Close them both out and it is the same as being stopped out of the trade.
WaveMaster, 2cents posts have provided a wealth of information for myself and many others on this forum in regards to the world of Forex. I don't know him personally but I do know that he is a skilled and experienced trader and IMHO is one of the most valued contributors on Elite Trader. Rather than throwing bits of sarcasm his way, your time would be better spent reviewing his posts not only in this thread but in past threads.
Alright! ... I finally got an answer to my question! ... Hip Hip Hooray! ... Thanks Roberk, I knew I could count on you. That's all I was asking for folks, a concise explanation. No need for smart ass remarks motivated by egotism and arrogance. But I guess that's what happens to some people when they are successful and lack the discipline and maturity to treat others with respect.
Yes, straightforward answer is always the best! Glad to hear someone has answered your question before me. As a supplement, you should realise your profit/loss is being locked when you have 1 long and short position at the same time, so you shouldn't need to worry someone behind watching your stop/position. The disadvantage is you need to pay for a bit more commissions for this method, but it may be worth it if you consider the risks & potential losses saved.
Perhaps true, but not something that will keep me from being successful. I think you need to take a second look at the author of the post immediately before yours. Now who is the one that needs to learn to read carefully? By the way, how is the fillet of sole?