online brokers and stop loss

dr.blix · Jan 16, 2009

hi,

using stop loss with my online broker, the share centre, i set a stop of 41.6 this morning.

it flashed down to 41.6 for a split second, then back up. the share centre made the trade, but at 41.73.

it's now at 42.8 and i'm a little annoyed. i thought they were called stop loss...not stop profit.

i could understand it if it was nosediving and they couldn't fill it until 41.5 or 41.3, but why would they fill the order above my stop??

should i complain? its at 40bloody3 now

nine · Jan 16, 2009

You just experienced positive slippage.

This is a rare and pleasant phenomena. Your brokers system did the right thing (sold when your stop was hit).

dr.blix · Jan 16, 2009

so slippage is when your buy/sell order is only partially filled before moving onto the next price?

i wouldn't mind so much, but they're not always that with it. ironic that they can be so on the ball in a taking me out of a situation where i could have made a profit.

i think it's starting to get to me!

Magos · Jan 16, 2009

dr.blix said:
hi,

using stop loss with my online broker, the share centre, i set a stop of 41.6 this morning.

it flashed down to 41.6 for a split second, then back up. the share centre made the trade, but at 41.73.

it's now at 42.8 and i'm a little annoyed. i thought they were called stop loss...not stop profit.

i could understand it if it was nosediving and they couldn't fill it until 41.5 or 41.3, but why would they fill the order above my stop??

should i complain? its at 40bloody3 now

Read this please: is from a broker
Order execution is guaranteed under normal market conditions. Under abnormal market conditions or when the order level falls within the price gap on the market opening, the order is executed at the quote which is presented in the quotes flow during the process of order execution. Buy Stop, Sell Stop or Stop Loss is executed at the level less profitable for the Customer; Buy Limit, Sell Limit or Take Profit is executed at the level more profitable for the Customer

dr.blix · Jan 16, 2009

thanks magos, i think i get it.

online brokers and stop loss

dr.blix

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