GBP/NZD Gapping Question

Mr Fox

Established member
510 136
Good Afternoon Chaps,

Just a quick question on GBP/NZD.

I placed a short at 09.11 on GBP/NZD, price filled was 1.94078, my SL was 10 pips, and target was 10 pips. As price was going in my direction I tightened the stop to 5.1 pips, so target, and SL was placed. I received phone call, so was away from the screens for 20 mins, and upon returning at 09.26 I had been stopped out to the tune of -20 pips on the nose.

Now I don't normally trade this currency, but saw a set-up that I liked, so traded it.

Now my question to all the learned fellows on this forum is, is this sort of price movement I.E. gapping up 14.9 pips above set SL normal on GBP/NZD with no clear gap in price, or should I be querying this with my broker(Yes I could query it right away, but since I hardly ever trade this currency I thought I'd ask you chaps if this was normal, and if it is normal I can wipe my mouth, and move on).

I look forward to your responses.

Best
John.
 

tar

Legendary member
10,443 1,313
Good Afternoon Chaps,

Just a quick question on GBP/NZD.

I placed a short at 09.11 on GBP/NZD, price filled was 1.94078, my SL was 10 pips, and target was 10 pips. As price was going in my direction I tightened the stop to 5.1 pips, so target, and SL was placed. I received phone call, so was away from the screens for 20 mins, and upon returning at 09.26 I had been stopped out to the tune of -20 pips on the nose.

Now I don't normally trade this currency, but saw a set-up that I liked, so traded it.

Now my question to all the learned fellows on this forum is, is this sort of price movement I.E. gapping up 14.9 pips above set SL normal on GBP/NZD with no clear gap in price, or should I be querying this with my broker(Yes I could query it right away, but since I hardly ever trade this currency I thought I'd ask you chaps if this was normal, and if it is normal I can wipe my mouth, and move on).

I look forward to your responses.

Best
John.

15 pips slippage on GBP/NZD ? let it go , its an animal , i am surprised that you used 5-10 pips SL with this beast .
 

Mr Fox

Established member
510 136
15 pips slippage on GBP/NZD ? let it go , its an animal , i am surprised that you used 5-10 pips SL with this beast .

Thank you for your response, and advice, thus I have let it go.

I really thought that the 10 pip SL for GBP/NZD was very tight, as far as the currency is concerned, however I didn't factor in slippage of another 10 pips. lol

It just "seemed" like a good trade at the time, and when I was up circa 6 pips I reduced the SL to 5.1 pips, but didn't realise it was going to turn, and slip so much. Ah well expensive lesson learnt.

Best
John.
 

tar

Legendary member
10,443 1,313
If it happens more often then yes complain or leave the broker , but this pair is definitely more volatile than say Cable or EU .
 

Mr Fox

Established member
510 136
If it happens more often then yes complain or leave the broker , but this pair is definitely more volatile than say Cable or EU .

I usually just stick to Cable, but decided to venture out into GBP/NZD, but it does seem a little strange that on another broker platform I have price loitered around 9 pips(5.1+3.7 spread) I would have thought I would not have been slipped an extra 10, by my primary broker.

P.S. Thank you once again for your advice, it has been heeded. I shall put it down to a learning experience, and forge on.

Best
John
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock