Hi Guys
can anyone please tell how does buy stop and sell stop works. I entered a buy stop order and i got the price around 15 pips away from the price i fixed.
[B]When a Buy-Stop or Sell-Stop order is triggered, it becomes a Market Order.[/B] At that point, it is executed exactly the same way as a Market Order entered by you, for the same price, at that same instant. In other words, it becomes [B]an order to enter immediately at the best available price.[/B]
The 15-pip difference between your order, and the price at which it was actually executed, is called [B]slippage,[/B] and that much slippage is unacceptable, unless you are trading an exotic pair and/or you are trading under severe market conditions (such as during NFP).
If this slippage occurred while trading a major pair under normal market conditions, then you should contact your broker to have your trade re-priced. If this slippage represents a pattern with this broker, then you should change brokers.
15 pips, or 15 points?
10 points = 1 pip
yup 15 pips
i traded during the news of new zealand unemployment and market reacted really fast and the price just shoot up. I called my broker and he said it was due to the market volatility
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