how to correct these horrible fills ?

Discussion in 'Forex Trading' started by jjk2, Feb 8, 2008.

  1. jjk2

    jjk2

    yesterday, i submitted a pending order for the following

    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)
    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)
    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)
    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)
    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)
    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)
    2000000 EUR.CAD SELL STPLMT @ 1.4580(stp price), 1.4380(lmtprice)

    all of these orders had very large breathing room (lmt is 200 pips away from the stop price). i gave it a large breathing room so that I have high probability of getting complete fills.

    and today, all of it was filled. HOWEVER! these are the prices they were filled at

    1.4500
    1.4503
    1.4480
    1.4484
    1.4470
    1.4470
    1.4473

    avg price @ fill : 1.4483

    100 PIP SLIPPAGE! i suspect this is because I gave it too much breathing space ? so should i use something like 50 pips away from stop price for limit and face the risk of getting partial fills ?
     
  2. I suspect you got filled at about 7am EST during that big drop and the slippage was due to a fast market.
     
  3. gwac

    gwac

    Canada unemplyment was a hell of lot better than expected at 7am est. The US dollar fell big time, your fills are proper base on the surprise number at 7am.


     
  4. jjk2

    jjk2

    ah i see.

    but my GBP.CAD position didn't face as much slippage...
     
  5. gwac

    gwac

    As a % or points remember, g/c is 2 and E/C is 1.4, so check to see if it was the same % of points, should have been. Since the only currency moving at 7am was Funds ($/cad)

     
  6. The GBP must have held up better than the EUR against the CAD at 7am EST.
     
  7. gwac

    gwac

    eur/usd and gbp/usd should have remained unchanged during this time so the only influence would have been $/cad. So both should have had the same % fills.

     
  8. jjk2

    jjk2

    yes. filled right when the announcement came out.