Stops....

[Ridley]

Stops that dreaded word everybody hates.

Who's had a bad fill from their Bank/Broker lately

Who's good and who's not so good when it comes to stops ??

Should you always place your stop as "stop traded" so at least you know you havent been lifted.

Now I know its a nightmare working stops but are punters getting a good service from their Bank/Broker/MM

Your comments will be of interest

Be Lucky

Ridley

 

[Trader333]

Hi Ridley,

This will all depend on what you trade and the liquidity of the market. When I was trading futures which were the S&P, Dow Jones, Dax, Nasdaq and FTSE, I always got out at the exact price specified by my stop. This was using Interactive Brokers, but if you were to trade a less liquid market then it is quite possible that you may end up getting stopped out a long way from where you had wanted to.



Paul

 

[goldenben1]

I always leave stops on a bid or offered basis. That way I avoid getting taken out prematurely. A good shop should be able to give you a fill no more than 2 or 3 pts away from the rate. This is a small price to pay for confirmation of your level trading. Of course I have heard stories of much higher rates of slippage than this.

 

[Burney]

Word of warning on slippage.

Just a note of warning to anyone in case they get stung like I did last week.Currently if you are trading futures and options ,Crude Oil gold etc are being traded on a "Not Held " basis(I didnt know what that meant either). Basically they are not guaranteeing fills on any given timescale, you just wait your turn, I was waiting 1-2hrs for confirmations last week and was getting fills on Crude options with slippage of $300 per contract(on a Mkt order)-at 4x contracts that was sore. Unless you have a lot of nerve or a lot of cash then the War commodities are a bit of a hairy mkt just now.