How do YOU execute trades!

[Gup16v]

Hi guys

just need some tips from the more experienced of us

im a price action trader, i focus on about 8 pairs and wait for pin bar set ups that sit in line with trend direction and key price levels (S&R).

the problem i have is i dont get filled on all my trades. I use a 50% retracement entry for a nice tight stop loss but as a result i miss a fair few trades

The issue i have is its messing up my trading sample. ie im not being filled for ALL the trades my plan says i should take.

how does everyone else execute trades. I dont really mind Market rate as slippage is not a problem but if there is something i can do differently but maintain market orders im all ears .

If i do go with market orders i risk the wrath of a larger stop loss before i know the trade is a bad one, obviously this can be solved by downsizing but my overall RR will be silly and the trade wont be worth it :S



Any input would be great

Thanks

 

[Jason Rogers]

Hi guys

just need some tips from the more experienced of us

im a price action trader, i focus on about 8 pairs and wait for pin bar set ups that sit in line with trend direction and key price levels (S&R).

the problem i have is i dont get filled on all my trades. I use a 50% retracement entry for a nice tight stop loss but as a result i miss a fair few trades

The issue i have is its messing up my trading sample. ie im not being filled for ALL the trades my plan says i should take.

how does everyone else execute trades. I dont really mind Market rate as slippage is not a problem but if there is something i can do differently but maintain market orders im all ears .

If i do go with market orders i risk the wrath of a larger stop loss before i know the trade is a bad one, obviously this can be solved by downsizing but my overall RR will be silly and the trade wont be worth it :S

Btw i use FXCM Uk, dont know if they 'manipulate' prices and orders lol

Any input would be great

Thanks

Hi Gup16v,

Welcome to the forum. I'm FXCM's representative here on Trade2Win. You mentioned that you aren't getting filled on some trades that your plan says should be filled. I'd be happy to look into this for you. Could you give me an example?

Also, in regards to how we execute orders for our clients, FXCM offers two different forex execution types: No Dealing Desk (NDD) and Dealing Desk (DD). On our NDD execution, there are 10+ liquidity providers that send us price quotes. We take the best bid and ask prices being quoted and use those to offset our client orders. For our profit, we simply add a pip markup to those best bid and ask prices. Since we don't take the risk on the other side of our client orders, we do not profit from client losses or lose from client profits. We make our money from client trading volume.

Even on our DD execution that was introduced in October to offer our clients lower spreads, we use the FXCM NDD price feed as a base to derive prices and execute orders. We simply reduce the pip markup. That means, if you look at our prices on an NDD account and compare them to our prices on a new DD account with lower spreads, you will see that the prices move up and down on both accounts together. The only difference is the pip markup as you can see in the illustration below.

Standard Spreads (No Dealing Desk)


Lower Spreads (Dealing Desk)
​

If you have any further questions about FXCM, feel free to post on our discussion thread.

Jason

 

[Gup16v]

Hi jason..

thanks for the information. i dont think checking individual potential trades i missed out will solve anything. Until im certain the reason im missing these trades is not my fault, ill be looking for ways to imrpove myself before feeding it back.

Although i may eventually query why your servers would all of a sudden go down in the middle of the day. Only to go back up when the days move is over lol. Story for another day. Again Thanks for your input.

 

[Jason Rogers]

Although i may eventually query why your servers would all of a sudden go down in the middle of the day. Only to go back up when the days move is over lol. Story for another day. Again Thanks for your input.

We've had no tech issues reported today, so I recommend you speak with our 24-hour tech support team to troubleshoot this problem you encountered: FXCM

 

[Jason Rogers]

i dont think checking individual potential trades i missed out will solve anything. Until im certain the reason im missing these trades is not my fault, ill be looking for ways to imrpove myself before feeding it back.

Have you taken into account the bid-ask spread?

One thing to keep in mind is that the FXCM Trading Station charts show the bid (sell) price by default. If you have an order to buy, then it's important to know where the ask (buy) price was trading at the time in question, in order to see whether your buy order could be filled. You can view the ask price on the chart by clicking on the "A" button in the chart toolbar as shown below.

Jason

 

[Gup16v]

Yep pretty sure jason.

to be honest the question in mind is not technological ie glitches, lack of skill in operating the platform.

the question in mind is rather about Technique. As mentioned im sure i can do more to get more of my trades filled by better judgement.

i thoroughly believe in a random distribution of wins and losses. If im missing most of my winners then all i have is a random distribution of losers haha lol.

Just to clarfiy the purpose of this thread is see if other PA traders can share how they enter trades.

and Thanks again jason, like i said if i feel the reason for this is dealer related ill feed it back to you but for now i think i can sharpen myself up to judge better.

 

[malaguti]

Btw i use FXCM Uk, dont know if they 'manipulate' prices and orders lol

and Thanks again jason, like i said if i feel the reason for this is dealer related ill feed it back to you but for now i think i can sharpen myself up to judge better.[/QUOTE]

Your problem you state is slippage, thats different from executing trades. You also state that FXCM could be manipulating prices.
Surely your issue is with the platform/broker? If you never experienced slippage is your execution better or the broker better?
I'd take Jason up on his offer to help..I wish IG would do that!!

 

[Gup16v]

haha nah the price manipulation was just me messing around!!
i think me stating fxcm has slighly confused the situation, so ive edited the post. its nothing to do with fxcm.

its about me trying to establish where its worth going for a 50% retracement order or an 'at market' entry.

essentially for all those that see a Pin bar set up.. What is it that you do to initiate the trade. Do you wait for a retracement for a better price and lower stop loss or do you enter at market with a gurantee fill?

im trying to fiqure out which is better for me. as numerous times ive entered a market order but the market never went anywhere near it. so its Absolutely nothing to do with fxcm.

i hope that clears it up.

 

[Shakone]

haha nah the price manipulation was just me messing around!!
i think me stating fxcm has slighly confused the situation, so ive edited the post. its nothing to do with fxcm.

its about me trying to establish where its worth going for a 50% retracement order or an 'at market' entry.

essentially for all those that see a Pin bar set up.. What is it that you do to initiate the trade. Do you wait for a retracement for a better price and lower stop loss or do you enter at market with a gurantee fill?

im trying to fiqure out which is better for me. as numerous times ive entered a market order but the market never went anywhere near it. so its Absolutely nothing to do with fxcm.

i hope that clears it up.

You mean a limit order right? A market order will be executed, a limit order may not.

Most of my entries are limit orders or stop-limit orders. I have an area I think is a good entry, but I place the limit order 1-2 pips/points above/below that area so that I will be filled if it does get there (simply taking account of the spread). Sometimes I get positive slippage. Sometimes it comes close but doesn't fill, but that is a trade I wasn't supposed to take. So I don't understand what you mean by "im not being filled for ALL the trades my plan says i should take." It either came to your entry point or it didn't. Maybe tell us a bit more what you mean by that statement.

 

[Gup16v]

more simply put..

my entry technique is to buy or sell at a 50% retracement of the pin bar.

pros - tight stop loss
cons - dont get filled all orders as makret may not retrace.

I know what i mean i just cant explain it

I think ive figured it out, if you keep rewording the question you eventually get the answer lol

was just interested to know what others deem an acceptable entry on pin bar reversal formations.

ill see how it goes.thanks

 

[Shakone]

Yes I understand what you mean. There used to be a lot of people here taking the break of the high of the pin as entry.

 

[Gup16v]

i suppose since i want in all the time...instant execution maybe better or atleast worth trying.

 

[mayapower]

This is a good thread. I am new to this field and before I start to work alone I should learn about this subject very well. Otherwise I will be totally lost. I like this all the information.

 

[Shakone]

i suppose since i want in all the time...instant execution maybe better or atleast worth trying.

Spend more time on what you'll do once in a trade, rather than spending all the time worrying about the exact entry spot.

 

[Gup16v]

Spend more time on what you'll do once in a trade, rather than spending all the time worrying about the exact entry spot.

Not really worrying about it to be honest. i just wanted to know what others did.

And when im in trades i do nothing lol unless something obvious says the position is false i just leave the market to its own devices..

thanks for the advice any ways