Hi all,
Just noticed I got stopped out of a position moments before a decent breakout, just as the December ECB minutes were being released.
I’m fairly new, around a year or so in. Has anyone experienced this with IG?
It looks like the price never made it to my stop level at 1.19359… Extremely frustrating!
Would really appreciate any thoughts on the matter
Cheers!
Does the chart show mid-prices or bid prices?
What is the spread normally and what was the spread around this news event?
See this thread - The price jumps and tha bid is of course in front of teh price when price is going down ie in front of price when you are long - dailyfx is “IG”
https://forums.babypips.com/t/whats-with-the-long-tails/119718
Not sure exactly, looks like the spread increased just before the minutes were released. I might need to widen my stops and find a reliable news feed.
Rookie mistakes! Will journal and learn from this hopefully… need to avoid these events I think
You din’t read the thread then ? 
But yes you need to calculate your stops then add a "Screw u factor "
So smaller charts don’t reflect the true price? Is there any point trading them with a broker like IG? Or will all brokers have the same issues
Think about that - you put a bet on - “they” don’t know whether you’re betting 5 minute chart or monthly - all your interaction is on the short term charts.
afterwards, the evidence seemed to disappear, on the 1 day + charts !
I have not tried the issue on other broker’s charts, but it looks as though this is not universal !
Hi DevSwan. Your stop would have been hit by the sudden surge of the price downward and a widening spread on news, just before price took off to the north… it was a news event that was anticipated… see link below.
When I was using the IG Platform ( Mid 2016) you could only set 1 line, either the Bid, Ask or average of both (Mid price). Made it confusing for a newbie because you could not see how wide the spread was… maybe the platform is different now??
When orders are sent out to be filled by a liquidity provider or bank, they are filled at the best available price whether the fill price is above or below the price requested.
To put this concept into a numerical example, let’s say we attempt to buy the EURUSD at the current market rate of 1.3650. When the order is filled, there are 3 potential outcomes.
Outcome 1 (No Slippage)
The order is submitted and the best available buy price being offered is 1.3650 (exactly what was requested), the order is then filled at 1.3650.
Outcome 2 (Positive Slippage)
The order is submitted and the best available buy price being offered suddenly changes to 1.3640 (10 pips below our requested price) while our order is executing, the order is then filled at this better price of 1.3640.
Outcome 3 (Negative Slippage)
The order is submitted and the best available buy price being offered suddenly changes to 1.3660 (10 pips above our requested price)while our order is executing, the order is then filled at this price of 1.3660.
Anytime we are filled at a different price, it is called slippage.
What Causes Slippage?
So how does this happen? Why can’t our orders be filled at our requested price? It all goes back to the basics of what a true market consists of, buyers and sellers. For every buyer with a specific price and trade size, there must be an equal amount of sellers at the same price and trade size. If there is ever an imbalance of buyers or sellers, this is what causes prices to move up or down.
So as traders, if we go in and attempt to buy 100k EURUSD at 1.3650, but there are not enough people (or no one at all) willing to sell their Euros for 1.3650 USD, our order will need to look at the next best available price(s) and buy those Euros at a higher price, giving us negative slippage. But of course sometimes the opposite could happen. If there were a flood of people wanting to sell their Euros at the time our order was submitted, we might be able to find a seller willing to sell them at a price lower than what we had initially requested, giving us positive slippage.
I don’t use IG though, I use JAFX but this is something that happens with any broker.
I am defiantly a newbie! I’m using Pro Realtime… see screenshot…
Bid and Ask displayed in the top right corner? Spread is usually 0.7 when I trade London session.
Thanks for the news calendar! I didn’t see it on the Baby Pips one…
That is what we are told.
The reality is that most bets never get past the broker’s computer. They are entirely governed by the computer’s software.
Hi , do you still use JAFX ? what s your opinion about them…do you have any preferred forex broker ? ( I am searching for a fx broker. I live in usa ) . thank you, Ray
