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Has anyone ever heard of this. I placed a trade with a stop loss order. I was using mirus Futures. The stop loss did not execute and my entire account was wiped out. Mirus told me that a stop loss in not guarnteed and they will do nothing. Can this be true, than why place a stop
Can you help answer these questions from other members on NexusFi?
Usually a stop order should be entered as a market order (no limit). This means the trade will definitely be executed, but not necessarily at or near the stop price. Check your settings in the DOM or chart trader by right clicking. I find it strange the guy at Mirus did not explain it more clearly.
NT's standard "stop" orders are actually stop-limit orders. If the market moved past the limit half of the order without fist filling your stop, the limit order could never get filled.
There's some detail missing here isn't there. Stop wasn't filled, was he not watching at the time?
I once had a stop that didn't fill, I just called them up and they closed the position. It was an issue with the platform showing the stop was active when it was not. Very minimal damage to the account. All stops have a CME imposed fill zone eg for NQ it's 6 points. If I set a market stop and it's not possible to fill it within a range of 6 points the market will gap through with your stop not filled. That's what Mirus told me. Different limits for different contracts.
It would probably take some significant shock to world markets but its possible.
"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown
"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith
