Is this slippage or what!

Discussion in 'Forex' started by cscott, Aug 18, 2006.

  1. cscott


    I had a forex IDEALPRO trade at IB that got stopped out 21 pips away from my stop. It wasn't major news time, but the pair did move down quickly a few pips. When I inquired why my stop was executed so far away, IB told me that stops are simulated on forex. They also stated that they sent the simulated stop as a market order when it reached my stop price, and because there was a spike in the price, by the time the order reached them, the price was filled far away from my Stop. I have a fast cable connection. Is this slippage on IB's part? If so, it doesn't seem very reasonable.
  2. LOL
  3. Yeaaaaaaaaaaaaaaaaaah ... that's why I won't touch Forex (among other reasons).

    If there are pros who don't want none, who am I to say different?
    Smart money says just leave it alone.

    A trade's a trade's a atrade's. Plenty of other tradeable markets out there.
  4. pcvix


    No, since Ideal Pro is an ECN platform.

    A limit stop is always an option.
  5. cscott


    What do you mean that IdealPro is an ECN platform? Are you saying the slippage is the bank's fault that it is cleared through, such as Citibank or Deutsch?

    A Stop Limit has to go thru the price twice so there's a greater chance that it won't be executed at all. I prefer execution, even if a little slippage, so a Stop Limit is not an option for me. But 21 pips - that's a lot of slippage!
  6. Steve_IB

    Steve_IB Interactive Brokers

    Neither the banks or IB's fault. It was just a function of the market at the time. I checked the time of this order, and in a 4 second period the range was 36 points, and then continued to trade lower over the next minute.

    This could have happened in any market

    A stop-limit with a limit price equal to your stop at 95 wouldn't have been filled for quite a while.

    You can always check your fills after the execution by bringing up the time and sales from the chart - this won't show the trades, but will show the bid/offers at the time.
  7. cscott


    Thanks Steve for clarifying that for me and thanks for taking the time to check it out. I appreciate it.
  8. Exactly. You would not have seen this on the e-mini's, which is what I trade.
  9. What pair were you trading?

  10. cscott



    In IB's discussion board, I read where a guy's stop on IDEALPRO was executed 54 pips from his stop. I guess 21 pips slippage wasn't so bad after all.
    #10     Aug 18, 2006