Hi Everyone !
Hope everyone is doing well. So i took a sell trade last week, and it was going really well. I even managed to move my stop loss to a 5% profit level. However, when I checked the trade in the morning, i noticed my trade was closed during the night for just a 2% profit, even though price didn’t come anywhere near my entry price or stop loss.
After speaking to the broker, it seems that slippage caused my trade to close above my 5% stop loss level. As you can see from the screenshot, I entered the trade at the begginng of the dotted red line on the left, the black line is where I moved my stop loss to. The end of the dotted red line is where I was stopped out, even though the the stop loss was way lower. This happened during the market open/close around Wednesday during the week.
A trade that was in around 7% profit suddenly closing past my stop for way less profit did hurt a bit lol. What i wanted to know is that is this normal ? I have always taken slippage into consideration, but this seemed to be by a huge amount. Is there any way around this ? How can I deal with this ? As I trade a trend following strategy on the 15m chart, some of my trades are held for around 2/3 days overnight, so closing the trades before market open/close isn’t possible. How do you guys deal with this ?
Just looking for some advice. Thanks in advance