Dukascopy Support Board • View topic - stop loss hit but way above chart bars during RBNZ on Wed

bearishtrader

I was short AUD/NZD going in to the RBNZ announcement on Wednesday and had moved my stop down during the course of the trade. The stop loss was unexpectedly hit as the RBNZ was being announced, although the stop was at least 15 pips above highest chart bar of the RBNZ announcement.

Attachment:

File comment: My AUD/NZD trade where I moved stop loss closer before RBNZ on Wed June 8, but not close enough where the chart bar prints above stop.

20110608_RBNZ_Bad_Stop_Out.png [10.92 KiB]
Downloaded 527 times

If this was due to an errant quote, it seems like stop losses can be triggered quite easily during an active time because the chart itself did not even show an outside quote. Since I trade based off the chart this is kind of a bad thing. Any way to safeguard orders against outside quotes (if this was the case)?

The result is lost a lost opportunity of 100+ pips.

Here is the chart showing the stop loss is way above highest bar on chart:

Attachment:

File comment: Chart showing me being stopped out during Wed June 8 RBNZ notice the stop is way above high of RBNZ bar

Chart_AUD_NZD_30 Mins_snapshot.png [35.35 KiB]
Downloaded 570 times

Any tips or feedback appreciated.

Guest · **User rating:** -

bearishtrader wrote:

I was short AUD/NZD going in to the RBNZ announcement on Wednesday and had moved my stop down during the course of the trade. The stop loss was unexpectedly hit as the RBNZ was being announced, although the stop was at least 15 pips above highest chart bar of the RBNZ announcement.

Attachment:

20110608_RBNZ_Bad_Stop_Out.png

If this was due to an errant quote, it seems like stop losses can be triggered quite easily during an active time because the chart itself did not even show an outside quote. Since I trade based off the chart this is kind of a bad thing. Any way to safeguard orders against outside quotes (if this was the case)?

The result is lost a lost opportunity of 100+ pips.

Here is the chart showing the stop loss is way above highest bar on chart:

Attachment:

Chart_AUD_NZD_30 Mins_snapshot.png

Any tips or feedback appreciated.

are you looking at bid or ask chart? buy to cover is executed by ask price look at ask chart....kinda a bad screenshot

Guest · **User rating:** -

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

CrazyFkr · **User rating:** -

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

you are confusing long/short positions. what you said in last sentence is completely false. if ASK price ONLY goes above stop on a short position, it will close. Bid price is COMPLETELY IRRELEVANT in an open short position.

kindergarden stuff

Guest · **User rating:** -

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

it will not matter which chart you use to enter the stop, simply put if ASK hits the value of stop position is closed. The only difference is visual because the bars are different. You need to look at the NUMBER VALUE OF STOP and ASK PRICE. BBid price means nothing when you buy to cover....NOTHING

this is kindergarden stuff man, why answer questions you dont understand

Buss · **User rating:** -

CrazyFkr wrote:

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

you are confusing long/short positions. what you said in last sentence is completely false. if ASK price ONLY goes above stop on a short position, it will close. Bid price is COMPLETELY IRRELEVANT in an open short position.

kindergarden stuff

no, no. you have not understood properly CrazyFkr. i think you have not traded in dukascopy platform enough to understand what i meant.

Assuming the short position as discussed above, if you place a sl when bid>=1.3035 (for eg), your order will only fill the moment the bid crossess 1.3035 and above on "ASK" price. i.e when bid>=1.3034 and the ask is at 1.3045, it will be filled at 1.3045.

Buss · **User rating:** -

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

it will not matter which chart you use to enter the stop, simply put if ASK hits the value of stop position is closed. The only difference is visual because the bars are different. You need to look at the NUMBER VALUE OF STOP and ASK PRICE. BBid price means nothing when you buy to cover....NOTHING

this is kindergarden stuff man, why answer questions you dont understand

ha ha! nice joke. if you had downloaded the pics and checked what exactly happened in that guy's situation, you wouldn't have even dared to reply to the post.

he trailed the stop at "ask>=1.305" but watching "bid" chart. and shared the same where 1.305 never showed, making him think the other way and he never bothered to look at the "ask". unfortunate for him, when the news came in, the spread increased and the sl triggered and he still thought there was no chance for his sl to hit.

well, let's wait for the support to answer and also let them give clear picture of placing sl/tp on bid and ask when the position is long and also in short.

CrazyFkr · **User rating:** -

Buss wrote:

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

it will not matter which chart you use to enter the stop, simply put if ASK hits the value of stop position is closed. The only difference is visual because the bars are different. You need to look at the NUMBER VALUE OF STOP and ASK PRICE. BBid price means nothing when you buy to cover....NOTHING

this is kindergarden stuff man, why answer questions you dont understand

learn to read. what I said was bid price means NOTHING when buy to cover. It DOES NOT matter what chart you enter it on, only the actual numerical value of the stop matters. When ASK PRICE hits STOP VALUE position is closed regardless of what chart you enter it on and also regardless of bid price.

get a clue moron

ha ha! nice joke. if you had downloaded the pics and checked what exactly happened in that guy's situation, you wouldn't have even dared to reply to the post.

he trailed the stop at "ask>=1.305" but watching "bid" chart. and shared the same where 1.305 never showed, making him think the other way and he never bothered to look at the "ask". unfortunate for him, when the news came in, the spread increased and the sl triggered and he still thought there was no chance for his sl to hit.

well, let's wait for the support to answer and also let them give clear picture of placing sl/tp on bid and ask when the position is long and also in short.

CrazyFkr · **User rating:** -

Buss wrote:

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

it will not matter which chart you use to enter the stop, simply put if ASK hits the value of stop position is closed. The only difference is visual because the bars are different. You need to look at the NUMBER VALUE OF STOP and ASK PRICE. BBid price means nothing when you buy to cover....NOTHING

this is kindergarden stuff man, why answer questions you dont understand

ha ha! nice joke. if you had downloaded the pics and checked what exactly happened in that guy's situation, you wouldn't have even dared to reply to the post.

he trailed the stop at "ask>=1.305" but watching "bid" chart. and shared the same where 1.305 never showed, making him think the other way and he never bothered to look at the "ask". unfortunate for him, when the news came in, the spread increased and the sl triggered and he still thought there was no chance for his sl to hit.

well, let's wait for the support to answer and also let them give clear picture of placing sl/tp on bid and ask when the position is long and also in short.

lets put it this way, you are TRYING to sat the same thing I just did but I have a grasp on english grammar and usage. Do you really think if i want to stop a position at say 1.4 that it matters which chart i put the stop on? it looks different on the 2 charts but if you ever saw a chart that actually shows the spread band you might get a clue. The numerical value of the stop is what matters and only a moron would not be able to differentiate.

CrazyFkr · **User rating:** -

Buss wrote:

Guest wrote:

in times of news, spread tends to increase and also volatility. you are only watching the bid chart. if you'd thought of seeing the "ASK" chart, you would have got the answer. while the bid high was 1.3034 the ask was 1.3057 ( spread increased to 23 pips from normal 4-5 pips) in the aforesaid case.

spreads tend to be higher in lower volume pairs.

to overcome such problems, try to put the sl/tp also based on "BID" for eg: sl bid >= 1.3035. even though the position will be closed at ask price only, your order will be filled only if the bid goes above the level.

it will not matter which chart you use to enter the stop, simply put if ASK hits the value of stop position is closed. The only difference is visual because the bars are different. You need to look at the NUMBER VALUE OF STOP and ASK PRICE. BBid price means nothing when you buy to cover....NOTHING

this is kindergarden stuff man, why answer questions you dont understand

ha ha! nice joke. if you had downloaded the pics and checked what exactly happened in that guy's situation, you wouldn't have even dared to reply to the post.

he trailed the stop at "ask>=1.305" but watching "bid" chart. and shared the same where 1.305 never showed, making him think the other way and he never bothered to look at the "ask". unfortunate for him, when the news came in, the spread increased and the sl triggered and he still thought there was no chance for his sl to hit.

well, let's wait for the support to answer and also let them give clear picture of placing sl/tp on bid and ask when the position is long and also in short.

also where did the long/short position crap come from? this discussion refers to a short position so you need to stop trying to confuse the discussion so you can sound right, you made bad statements just admit it and move on now

bearishtrader

Hey thank you guys for your help it is very insightful. All my charts are set to BID by the way (which seems to be my default) I never thought to check the chart in ASK mode. I went back and checked chart in ASK mode and indeed the bar high of AUD/NZD during RBNZ was slightly above my stop level. The screen grab I put up is BID mode.

It never occurred to me even there were two chart modes, which is why I was confused when it showed the stop out. You are right when the news hit the spread got really wide/bad and nailed me.

Contest Support

bearishtrader wrote:

Hey thank you guys for your help it is very insightful. All my charts are set to BID by the way (which seems to be my default) I never thought to check the chart in ASK mode. I went back and checked chart in ASK mode and indeed the bar high of AUD/NZD during RBNZ was slightly above my stop level. The screen grab I put up is BID mode.

It never occurred to me even there were two chart modes, which is why I was confused when it showed the stop out. You are right when the news hit the spread got really wide/bad and nailed me.

Apologies for the delay.

Great. It appears that you've found the right explanation before we posted it.

As was correctly noted, it is essential to build the chart on the right price side - Bid or Ask. In the opposite case, confusion may arise.

bearishtrader

Thanks too Dukascopy support for looking in to this!

Contest Support wrote:

bearishtrader wrote:

Hey thank you guys for your help it is very insightful. All my charts are set to BID by the way (which seems to be my default) I never thought to check the chart in ASK mode. I went back and checked chart in ASK mode and indeed the bar high of AUD/NZD during RBNZ was slightly above my stop level. The screen grab I put up is BID mode.

It never occurred to me even there were two chart modes, which is why I was confused when it showed the stop out. You are right when the news hit the spread got really wide/bad and nailed me.

Apologies for the delay.

Great. It appears that you've found the right explanation before we posted it.

As was correctly noted, it is essential to build the chart on the right price side - Bid or Ask. In the opposite case, confusion may arise.

Buss · **User rating:** -

bearishtrader wrote:

Thanks too Dukascopy support for looking in to this!

Contest Support wrote:

bearishtrader wrote:

Hey thank you guys for your help it is very insightful. All my charts are set to BID by the way (which seems to be my default) I never thought to check the chart in ASK mode. I went back and checked chart in ASK mode and indeed the bar high of AUD/NZD during RBNZ was slightly above my stop level. The screen grab I put up is BID mode.

It never occurred to me even there were two chart modes, which is why I was confused when it showed the stop out. You are right when the news hit the spread got really wide/bad and nailed me.

Apologies for the delay.

Great. It appears that you've found the right explanation before we posted it.

As was correctly noted, it is essential to build the chart on the right price side - Bid or Ask. In the opposite case, confusion may arise.

Some funny guys like CrazyFkr and guest try to answer without understanding the depth of the problem. please guys if you can't understand the question, don't comment. Both the support and the guy who raised problem are my side.....