Been using regular stop orders but keep getting slipped on volatile pairs during news releases.
Thinking about switching to stop limits but worried about orders not filling during fast moves.
What’s been working better for you guys in practice?
Stick with regular stops for protection and treat the slippage as an insurance cost. Stop limits work great when markets are calm, but they’ll leave you hanging during big moves or gaps, exactly when you need them most. If slippage is killing your profits, just size down or skip trading around major news events. I’d rather take a small guaranteed loss than get burned by a stop limit that never fills.
Stop limits can leave you hanging if the price gaps past your limit. I just use regular stops and deal with the slippage.
Been there. Lost way more money on unfilled stop limits than slippage ever cost me.
What fixed it for me - switched to regular stops and found a broker with solid execution. Moved to IC Markets a few years ago and slippage dropped big time compared to my old market maker.
I also skip trading 30 minutes before/after major news. The extra profit potential isn’t worth the execution headaches.
For crazy volatile pairs like GBP/JPY, I just add 2-3 pips to my slippage calculations when sizing positions. Rather plan for it than get caught with an unfilled stop when things go sideways.