Prepare for the unexpected in live trading

I open this thread for serious traders. Anything can happen in Forex, in this thread we talk about how do we be prepared in live trading.


Once I demonion 3 month, I opened my very first live account, and on my approach funding it. I shall write my concerns in live trading and supply my solution, And I've some questions too, any feedback is welcome!


Issue A: slippage?
I do not look at any Time Frame smaller compared to H4, I utilize pending orders simply, all the pending orders put 25 pips away or more.

Issue B: stop hunting?
My platform have host established stops, I do not use them, I will leave my position once close get across my halt. I have the discipline now after 3 month demonion.

Issue C: Money safety?
Starting with a small account that I can afford to lose, Bank the profit, If I likely can create any J

Issue D: Re-Quoting?
For a beginner, I've very small account, they say 95% traders lose money, they say every thing with your broker is good when you're losing money. But it is another thing when you beginning taking down the home.

Suppose re-Quoting did happen in the worst situation, what do I do? As I mentioned earlier, be prepared for everything: What is kind stuff have legal impact when I contend with their customer services? Suppose I post all my pending orders atforexintuitiveuntil I send the orders to the brokers host, Can the trading journal inforexintuitiverescue me after the broker mess me around? If I didn't post my trading journals here, what's about place it?


Issue E: altering my order?
Is there some broker do this kind of ugly stuff? I have no idea.


Forex is a tricky business, just like others, what I've written is your worst case situation, I hope all this bad stuff do no exists. The point is we hope the very best and prepare for the worst, what's your ideas?


Happy Trading!


-- Aidans

Only for you to understand a Market Maker and you can perform. For instance you set your pending order based on your trading egy on a new high lets say 1.3610 so you place an order to buy at 1.3610 now the worst case scenario might be that your broker will not guarantee you no slippage and matches your order with 1.3612 but also now comes the tricky part that the market never went higher then 1.3608 so that your system didn't generate a buy order but you are long and the market gos down and no one haven't any legal argument because your broker will tell you that they market manufacturer possess the right to quote any price they want and also to underpin their announcement they will say that other customers may have the opportunity to act on this price so their isn't any point to search you because they might also loose on it ( as much as I experienced their are out MM which really feed various prices to their customers to prevent that but it is impossible to prove and also on their charts that you may for a short time see afterward different prices between too .) And on a placed Stop loss order the exact same match is definitely going on to have some safety you have to set your orders manually and then you just get re-quotes all this practices interfere with your ability to remain calm and focused on the market

This clears up. I know the slippage.

About the 1.3608 High, I may miss something:

Can you means that I palce my buy stop at 1.3610, on my chart, the price purchase High is 1.3608, then the market just go south, BUT on my order histroy, my stop order purchase triggered. right?

For mepersonally, 1.3608 can trigger my 1.3610 buy stop is really tough know. From defination, cease order purchase triggered only if the price get across it, then the order purchase execute by market order. Considering that the pub's high 1.3608 is smaller compared to my stop, the stop shouldn't be triggered.

Quote:

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Originally Posted by ;

only for you to know how a Market Maker can perform with you. For instance you place your pending order according to your own trading egy on a new high lets say 1.3610 so you place a order to buy at 1.3610 now the worst case scenario may be that your broker does not guarantee you \no slippage \ and fills your order together with 1.3612 but and now comes the tricky part that the market never went higher then 1.3608 so your system did not generate a buy order but You're still long and the market gos down

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Yes the price will on a reliable chart just be 1.3808 but at your MM it will demone a high of 1.3610 and even more