When you get stopped out in a stock you can get a lot worse fills then your stop was suppose to protective you against getting due to large orders sweeping through. I was wondering if stops in forex work in the same kind of manner or if they do a better/worse job of protecting you. Are having live stops prepared a bad idea if you are constantly monitoring your position?
My broker is questrade. I will be only be making a few trades per week trying to take around 1-3% per trade. I will place the stops probably around .5-1% away from my entry and want to make sure my 1% stops don't get blasted through.
Yes, you can get 'slippage' on stop loss orders. This usually happens on news events, i.e. in case of low liquidity. Except for news events, slippage will be minimal.