bernard wrote:I have an ECN live account with FxOpen.
Observing what they are doing to me, I don't believe I can ever be profitable, naked trading or dressed!
I use the attached script for instant sells of lot size 0.5, no SL and no TP.
Upon execution of EURUSD sell, I am instantly minus $50.
In the absence of any news and spikes this morning, this means that there was an slippage of 10 pips.
I am not much of a coder, but I can see that the script has a slippage of 3 max.
I don't want to open a trade if the slippage is over the set limit.
Can some one please help?
Thanks
Bernard
Hi Bernard, with .5 lots, you just needed it to go 10pips against you to have a dd of 50. Depending on when you trade, the spread can be up to 2pips. So you just need it to move against you 6pips to have a dd of 50$.
Why 6pips? Say the spread is 2pips. When you take the order you automatically lose 2pips. Then there is the other 2pips from closing the order (your broker lives off this and commission)
6pips for eurusd is nothing. If you cannot stomach such dd, look like 1% per 100$ lot size.
For reference, trading 1 full lot, you can easily be in an immediate dd of 100$ just by opening the trade. Exotic pairs like USDsek have it even worse, you can be in a dd of 200 or more
