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A couple of times I have noticed that my stop loss orders move on their own. How is this possible. Say I am in a short and have placed my stop loss order on my chart, I suddenly see the order move up in the chart. What exactly do you think is happening in this situation? Thanks for your help.
Can you help answer these questions from other members on NexusFi?
If you placed a short and the stop loss moved down, it could be you had unknowingly set a trailing stop. The stop loss order should never move further away though and increase risk.
If you gave some more information there is more chance of people working out the likely problem:
What is the product being traded and the type of market?
How large was the stop loss distance you set in ticks or pips?
Which platform/broker?
Just the basic information.
For instance futures trading products are different to CFDs or other market maker products where the broker sets the price. Some platforms which are commission free with the broker profiting on the spread have minimum stop loss distances to ensure they can make a profit. Maybe your stop loss is too tight and within their minimum distance. Maybe the required distance fluctuates with market volatility. Did the stop loss move instantly when the entry order filled, or later?.....and such like.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Thanks, YM, platform is not commission free. It does not happen every time, it has happened 2 or 3 times in 3 years of trading, its not a trailing stop loss. The stop loss was not too tight, the stop loss moved up and away. The stop loss did not move instantly on order fill, it moved later.
Sounds like a fast moving market and it blew through the stop? Your stop will fill at market price and if price moves quickly that could be far below or above your stop price.
