Stops and Candles

[kaya75]

Hello All,

I just got stopped on a Aud/NZD trade at 1.2094 - 13:30 gmt (26/04/13) - the candle price was nowhere near this - but after a chat with the broker, i looked at the Min/Max and sure enough at 13:29 the price shot through my stop - i've never seen this before, is it common? i thought candle wicks showed the MAX ask price...

oh well live, learn and enjoy the weekend :clap:

 

[mike.]

The candle wick is the highest and the lowest price, the top and bottom of the candle body is the open and close price, If you were spreadbetting then look on another chart to see if the price did hit your stop.

 

[malaguti]

Hello All,

I just got stopped on a Aud/NZD trade at 1.2094 - 13:30 gmt (26/04/13) - the candle price was nowhere near this - but after a chat with the broker, i looked at the Min/Max and sure enough at 13:29 the price shot through my stop - i've never seen this before, is it common? i thought candle wicks showed the MAX ask price...

oh well live, learn and enjoy the weekend :clap:

as Mike says, check your broker candle, with a true more reliable candle. and yes this is very common

 

[Shakone]

Yeah this is spreads widening before the news. My highest ask doesn't quite reach 1.2094, but it's not far off that. What's shown depends on your charting program. It may show the mid price (average of bid and ask) or it may show the bid price or the ask.

 

[kaya75]

Ok, thanks for the replies, makes sense now, I generally use Mt4 fed through a demo, my broker is oanda, but thier mt4 server is est not gmt.. etc

But its a bit rude, to be fair, ill try and keep an eye out for them..
Thanka all
Peace and pips

 

[rawrschach]

Hello All,

I just got stopped on a Aud/NZD trade at 1.2094 - 13:30 gmt (26/04/13) - the candle price was nowhere near this - but after a chat with the broker, i looked at the Min/Max and sure enough at 13:29 the price shot through my stop - i've never seen this before, is it common? i thought candle wicks showed the MAX ask price...

oh well live, learn and enjoy the weekend :clap:

wicks show traded prices, stops are triggered when the bid/ask goes through your stop e.g. if you have a sell stop at 52s and the market goes offered at 52s it will trigger even if the market didn't trade there.

The fact that *you* traded there won't show up on your broker's chart because it didn't happen the real market.

 

[Rambo35]

Ok, thanks for the replies, makes sense now, I generally use Mt4 fed through a demo, my broker is oanda, but thier mt4 server is est not gmt.. etc

But its a bit rude, to be fair, ill try and keep an eye out for them..
Thanka all
Peace and pips

So you lost in the trade in a demo account? In case you did it was not a loss and you did not trade. Glad you got your question answered, but in demo accounts you do not trade as there are neither profits nor losses.

 

[kaya75]

So you lost in the trade in a demo account? In case you did it was not a loss and you did not trade. Glad you got your question answered, but in demo accounts you do not trade as there are neither profits nor losses.

No, I trade a live account, but use a demo account to feed data to Trade Interceptor for charting pruposes on the move. Trade Interceptor is not supported by my broker

 

[Rambo35]

No, I trade a live account, but use a demo account to feed data to Trade Interceptor for charting pruposes on the move. Trade Interceptor is not supported by my broker

Oh ok, thanks for clarifying.

 

[kaya75]

Oh ok, thanks for clarifying.

No worries

- it's a pain that Trade Interceptor doesn't support more brokers or Brokers support Trade Interceptor.