Wide stop at news releases

[jajuski]

Hi,
I have tried live trading with Fxsol for a week now. My strategy is to place entry orders ( long and short) during news releases and place a tight 5 or 10 pips stop loss. Their demo had no problem with a 5 pip stop loss but when live trading, they would widen the stop to 24 pips. My question is are there any forex brokers out there that would allow a tight 10 pip stop loss during news releases? Can you recommend good, reliable fx brokers who allow a tight stop loss? thanks.

[MyWay]

BFX /Solid Gold http://www.strategybuilderfx.com/index.php?page=SGFS has a 6 pip min stop and the spreads don’t move past 5 on news, best ive found yet..

[MickMason]

Originally Posted by jajuski

Can you recommend good, reliable fx brokers who allow a tight stop loss? thanks.

Probably quite a few allow it but none of them will guarantee it....

[jajuski]

thanks, MyWay for the info. Is Solid Gold a reputable forex broker and have you tried trading the news with them? Can you rate their trading platform and overall service on a scale of 1 to 10? ( 10 highest ).

Mick Mason could you recommend some forex brokers that will allow placing tight stop loss during news releases? thanks.

[yardie]

It looks like the brokers are catching on to the news trading crazy and are taking advantage of it. More and more brokers will go in this direction over time.

[MickMason]

Originally Posted by jajuski

Mick Mason could you recommend some forex brokers that will allow placing tight stop loss during news releases? thanks.

Pretty much any mainstream broker I would think, FXCM, Oanda, CMC etc etc, give them a ring or email them and ask.

The thing about trading news/data is you need to accept the broker (marketmaker) will fill your order at a price which is available in the market, like you he has to protect himself against loss as well.

I doubt any broker will guarantee a stop in volatile market conditions such as news and data releases, expect slippage.

Sorry I can't be more specific, perhaps you would be better off speaking to dealers at a couple of brokers and asking why they do what they do.

Cheers

Mick

[Gamma_Jammer]

Originally Posted by MickMason

Pretty much any mainstream broker I would think, FXCM, Oanda, CMC etc etc, give them a ring or email them and ask.

The thing about trading news/data is you need to accept the broker (marketmaker) will fill your order at a price which is available in the market, like you he has to protect himself against loss as well.

I doubt any broker will guarantee a stop in volatile market conditions such as news and data releases, expect slippage.

Sorry I can't be more specific, perhaps you would be better off speaking to dealers at a couple of brokers and asking why they do what they do.

Cheers

Mick

Mick is right as usual. Why on earth should a broker simply hand you money by showing you pricing that simply isn't available to them in the wholesale market? Madness.

Imho this isn't real trading at all, and enough experienced traders have warned people on this site that they're gonna get burned doing so that anyone who chooses to ignore advice that people have taken time to write frankly gets what they deserve (which is triple digit slippage on payrolls day).

Good luck, but don't give up your day job.

GJ

[MickMason]

Originally Posted by Gamma_Jammer

Good luck, but don't give up your day job.

GJ

lol

Hey GJ, not seen you around, been on your holidays?