NexusFi: Find Your Edge


Home Menu

 





How to get rid of slippage in forex?


Discussion in NinjaTrader

Updated
      Top Posters
    1. looks_one ericson with 2 posts (1 thanks)
    2. looks_two wldman with 1 posts (1 thanks)
    3. looks_3 WillSmithRules with 1 posts (0 thanks)
    4. looks_4 Quick Summary with 1 posts (0 thanks)
    1. trending_up 1,548 views
    2. thumb_up 2 thanks given
    3. group 3 followers
    1. forum 4 posts
    2. attach_file 1 attachments




 
Search this Thread

How to get rid of slippage in forex?

  #1 (permalink)
 ericson 
Sacramento, CA
 
Experience: Advanced
Platform: NinjaTrader
Broker: NA
Trading: Stocks, Forex
Posts: 64 since Nov 2013
Thanks Given: 14
Thanks Received: 19

Why does this happen for market orders in forex?? I am trying limit orders at the bid when long and short to see if that works. Yet setting the limit in a wild market could be tricky and my order never filled. What have you done to fix this problem? How can i simply get the current price in the opening bar + or - 1 pip to get the order?


Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Quantum physics & Trading dynamics
The Elite Circle
REcommedations for programming help
Sierra Chart
Cheap historycal L1 data for stocks
Stocks and ETFs
MC PL editor upgrade
MultiCharts
ZombieSqueeze
Platforms and Indicators
 
  #3 (permalink)
 
wldman's Avatar
 wldman 
Chicago Illinois USA
Legendary Market Wizard
 
Experience: Advanced
Broker: IB, ToS
Trading: /ES, US Equities/Options
Frequency: Several times daily
Duration: Hours
Posts: 3,534 since Aug 2011
Thanks Given: 2,069
Thanks Received: 9,556


like a jag.

Trade a listed product. For currencies that is the CME. Use a broker that does not trade against you or sell your order flow. If your method will allow it use limit orders. Find out specifically how you broker handles limit orders. Forex is still the wild west and is an unregulated marketplace. Limit orders do not have standing, they are considered indications of interest until executed and that will NEVER favor you. Some brokers leave what would otherwise be marketable limit orders reside on an internal server NOT at an exchange or on a computer where counter parties will see them. Often once a limit is touched that order reverts to market so you have to know how your desk handles that and if there is a way to in effect enter limit price or nothing.

That said, when trading spot I use MB Trading and I can not remember ever having a real objectionable issue with slippage. Often I'd get price improvement with them through their ecn-like market place.

All the best and good luck.
Dan

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #4 (permalink)
 ericson 
Sacramento, CA
 
Experience: Advanced
Platform: NinjaTrader
Broker: NA
Trading: Stocks, Forex
Posts: 64 since Nov 2013
Thanks Given: 14
Thanks Received: 19

Wldman thank you for the reply. But I would to use COBC = true for calculating the indicators and then COBC = false when doing orders, so the orders execute tick by tick. How can i accomplish this?

Started this thread Reply With Quote
  #5 (permalink)
WillSmithRules
Sugerland, TX/USA
 
Posts: 13 since Jan 2014
Thanks Given: 2
Thanks Received: 15


wldman View Post
like a jag.

Trade a listed product. For currencies that is the CME. Use a broker that does not trade against you or sell your order flow. If your method will allow it use limit orders. Find out specifically how you broker handles limit orders. Forex is still the wild west and is an unregulated marketplace. Limit orders do not have standing, they are considered indications of interest until executed and that will NEVER favor you. Some brokers leave what would otherwise be marketable limit orders reside on an internal server NOT at an exchange or on a computer where counter parties will see them. Often once a limit is touched that order reverts to market so you have to know how your desk handles that and if there is a way to in effect enter limit price or nothing.

That said, when trading spot I use MB Trading and I can not remember ever having a real objectionable issue with slippage. Often I'd get price improvement with them through their ecn-like market place.

All the best and good luck.
Dan

I agree... RUN AWAY FROM FOREX!!! The currencies futures are calling your name!!!

Reply With Quote




Last Updated on January 14, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts