Would like to get some insight into something from a couple of members here. Was trading light crude oil.
I had my stop loss at 46.30 when a position opened at market price at 47.30. In a matter of seconds price dropped 100, took out my stop loss and continued as usual at the 47.30. Continued upward from there and is now trading at the 47.50 area.
Was wondering if a couple of members could tell me today’s low for light? From everywhere else I’m reading it didn’t even drop below 47? Couple of different news feeds giving me the same information.
Have attached a photo of the trade itself. Finding it to be a bit suspicious. I haven’t lost a single trade with them since opening the account so don’t want to jump to conclusions but this is a bit suspect.
The lows at one exchange are not represtative of the lows of another. Make sure to use the data from the exchange you are trading when making decisions. And do not fall for the trick of thinking that you would be doing better by trading the same implementation at a different exchange. In one instance you may have a single trade that would have done better on one exchange than another, this does not mean that the overall expectancy of your implementation would have been improved in the long run elsewhere. If you are truly concerned, try your implementation simultaneously with two exchanges.
While you are unhappy that your stop was taken out, some other trader out there with a limit order may be thrilled he got filled on such a spike. Today he was him and you were you, but on another day you may be him and he may be you.
Consider this: you are taking a long position in a commodity that is basically the HEADLINE bear market for the year and remains to have elevated daily/weekly price ranges as a result and you have a stop that is closer to the price than the price range for the day. In fact, there is a candle on your chart wherein a single half hour posted a high/low range of about 120 within just the last session. The price then went back down to cover that range and go lower in this session. So the price moved up and back down by more than your stop distance in less time than the last session. That means the likelihood of your stop being struck is higher than 50%. And what will you say if the price goes below that whole candle on every exchange you can find within the next 24 hours?
What I am trying to say is, shix happens. No. Stops happen.
Having checked the exchange on nearly 8 other platforms, the pricing on the others is NOWHERE near this price infact, over 100 pips in the difference, now don’t tell me that there are 100 pips in the difference on different platforms or brokers.
Its fairly suspect that my stop was hit dead ON THE BUTTON. Came back up and then continued as normal towards the upside, so my overall bias was correct. In a nanosecond my stop was hit and the trade continued as normal. Having spoke to a few other traders about this they are also concerned about what happened, why it happened and if it will happen again.
Dukascopy do take the other side of your trades, so there is a possibility of foul play.
Thank you for having brought this problem to our attention.
After having investigated your case, it appears that we are able to offer you a solution.
Your position 50072319 was opened the 31.03.2015 at 09:54:54 at 47.39.
At 09:56:10, the take profit on this position was set as followed: “Take profit: bid > 48.300”.
The take profit was touched at 14: 05 the same day.
So the profit on this position should have been: (48.30 - 47.39) * 100 = 64.00 USD
For this position, your registered loss is now 109.00 USD
So we will credit your account for a total of 109.00 + 64.00 = 173 USD = 161.21 EUR
The funds will be credited into your account as soon as we receive from you confirmation that you agree with this solution and considered the case as closed.
We do apologises for the inconvenience caused to you.
Oh I was even more pessimistic than that. When you look at your chart now, has it been updated to reflect a much higher low than the one it showed before?
In the first place, what caused this spike down to take out your stops? Did you press them for an answer? If it happened once it could happen again. What if they refuse to own up the next time? I can’t tell you what to do but if I were you I would take their offer to refund then take my money somewhere else.
nothing was said about it, i pressed them but an answer wasn’t given. My money + TP was refunded so I’m happy with the outcome. Nothing else to report at the moment from them, they are a good broker, but VERY expensive. Thinking of joining XM.
