Basically the ATR trailing stop uses the Average True Range for it's calculation (see Average True Range for the description of it). Once this figure is calculated the figure is then multiplied by a factor (usually 2 0r 3) and then taken away from the close. The following is an example of how a 3 x ATR Trailing Stop may be calculated on any given day:
ATR Figure = $0.08
Last Close = $6.78
3 x ATR Stop = $6.78 - ($0.08 x 3)
= $6.78 - $0.24
The trailing stop in this case would be set at $6.54
I experienced 3 minute fills and today, "slippage" of 75 pips with GFT. Sometimes brokers are totally slimy. I'll try MBT as soon as my account is ok'd, but I'll keep just enough in my account to use gft's charts which I like. MBT is a non-dealing desk, so it'll be different...I exploit the stophunting that DDs use (not primarily, but I've taken some $$ from them) so that won't be doable...
Its really gonna come down to your trade style and who you like...some hate this broker others love this broker...but 3 minute fills and 75 pips of slippage - those are the signs of crooks.
I experienced 3 minute fills and today, "slippage" of 75 pips with GFT..
That is completely ridiculous, and exactly the reason I have primarily traded with Oanda for years. I don't have to worry about fills. My stops and limit orders are executed right on the number.
In terms of the general discussion, I don't honestly believe there's a lot of broker manipulation of prices to run stops. If they did that intentionally, they'd be out of business pretty quick one way or another. This strikes me as being more an excuse offered up by frustrated traders who basically had their stops too close to the market.
OandA is best and safest broker....50/1 leverage.....very small trades are OK
If you are afraid to lose money...dont trade forex
learning to trade...at least a year...took me 3 years
I lose half my trades....smaller losses.....larger wins
trading a news event up front is called gambling
get a real good news/event calendar,4Cast has one,also ForexFactory
sometimes I do gamble a news event, but thats not trading
I understand how you feel about stop hunting. I've been stopped out to often by 1 pip. No mater how deep I place my stop. My wife says I take it too personal. I've been trying a new strategy that will scare most traders. I go with a strong trend. Go the opposite direction 10 pips and put a buy or sell limit and take profit at 30 pips. That takes care of the spread and gives a good profit. No stops. If you look at most pairs, they rise and fall an average of 45 pips each way. If you put a deep stop of 50 pip, its the same thing. The trade usually closes before morning. Also, learn patience. I have gotten out of loosing trades at a loss. After checking a few of these trades, I found that had I held them untill 23:00 they would have been winners.