some help with IB order types

Discussion in 'Forex Brokers' started by sempo, Dec 3, 2007.

  1. sempo


    ok a friend of mine suggested when I join IB to use limit orders.. so I use them when placing orders and it is good.

    But my stop loss I usually use 'STP' order type, and.. I find they often get not filled and slipped by like 4-8 pips or something like that.

    Not around news times, just generally, the odd thing is, sometimes I am watching my screen and the trade is meant to be stopped out at 226.55 say (the bid that is, and I was going long).. and it is hovering around 226.55, even goes to 226.54/53 and then goes back up again, and then goes down again. So it isn't spiking around... I can't understand why it won't get filled. Also these are not huge orders. Also, it isn't just GBPJPY it has happened to me on.. USDCHF, EURUSD, etc. Just used that trade as an example.

    Anyway, should I be using a different order type for my stop loss?

    Any advice and what not would be most appreicated to help me improve my pip-keeping-abilities ;)