How are ETX for Stop Orders?
There is no option for Stop Market Order, other than guaranteed stop, which is so far down the orderbook it throws any notion of risk management right out the window.
Trading on Forex especially, where all the retail investors are leveraging up *500 in order to make a profit from a penny or two’s worth of price movement, there tends to be a lof of FU wipeout candles, which if Stop Order’s were not executed, say because the market moved to fast for the Stop Limit order to be filled, could conceivably result in a lot of margin calls.
The one trade set up I find that I can consistently execute well and the only trade setup that I would deem as viable in a Forex chart environment due to the sheer frequency of massive wipeout FU candles that put an end to trading traditional market structure patters etc, are Undervalued-Overvalued trades based of the Volume Profile tool on Trading View. Typically, one of these practice trades which I tend to get good results with, requires 1000 GBP margin. Projected profit is 100 GBP and the Stop Loss typically starts at 50 GBP in order to protect my Stop against any final small(ish) FU moves before the market turns back in the direction from whence it came…
Now I would happily sit knocking out Volume Profile reversal trades with a 70% success rate all day long, only ever risking 50 quid per trade in order to probably make 100…but in the absence of a Market Stop Order, am I really only risking 50 GBP? If I find myself on the wrong end of one of these big nasty Stop Running wipeout candles, am I infact risking 1000GBP on every trade I make, whose projected profit is only 100 pounds?
Have u ever experienced your stop orders not being filled on ETX cos the market moved too quick?