(Sorry for some grammar mistakes, I’m not a native english speaker )
- For reference, i recorded my screen while trading; feel free to watch it here: imgur .com /a/UjSxmgy -
Yesterday, i tried to (DEMO)trade the NFP-News. As you probably have heard: It was a huge miss. The expected numbers were 720k-750k and the actual numbers are only 235k!
As the numbers came out, the Dollar fell very fast! The EUR/USD rose in 3 minutes up 38 Pips to a major resistance level.
I tried to implement your strategy: Having 2 Orders (1 Buy Stop / 1 Sell Stop) for both potential outcomes.
As the numbers came out (08:30) the candle spiked instantly within 5 seconds - and despite my buy stop, i got filled 5 Pips above my stop price. I still made a good profit but if it would have reversed fast, my risk-reward-ratio would be very bad because the SL wouldn’t change.
I know, that is called slippage, but here comes my question:
Whose (Market/Stop/Limit)-orders get filled first? Are the retail traders with a low volume those who get filled last?
I think everyone would like to have the best entry price. But if (theoretically) everyone has a buy/stop order at the same price, who is getting the best possible entry?
And another little question: As you can see in my little video (around 10 seconds left), the SL/TP in the MT5 changed without me doing anything. The TP was on a lower price (which was reached) but because of the change, it didn’t got filled automatically. Luckily, i closed the trade manually but if that would be an EA, that could have ended in a big disaster.
Can you tell me why it changed? Is it MT5 or the market?
I’m looking forward to your answers! Have a good weekend!