I am new to forex trading. I just created my first EA that only uses stop orders. I started with IC markets yesterday and I have been getting a slippage on my orders aroung 0.2 pips. Is this normal for a broker ?
Hi Gueco,
Yes, slippage is quite common when using a stop order irrespective of the broker you use. As your EA is using a stop order, it is essentially trying to place a buy order in a rising market and a sell order in a dropping market.
A “stop” order requires price to be hit by the market before your trade is accepted, at that point your stop becomes a market order and it gets filled at the current market price. So the volatility/momentum of the market at that moment will dictate whether you will be filled near or far from your price order."
Regards
Narayan