Dear Mathew, I can’t believe it, my trade was instantly closed after my order got filled ( market order + stop loss order) without any reason, it’s not one but twice and I’m pretty sure this time I made no mistake with my stop loss order, so how come my trade was stopped??? Could you please give me an explanation?
I looked at your trades. You are confusing stops and limits. To use just one example, you bought at 231.798. Then you entered a Sell stop at 233. This stop was instantly marketable (i.e. the market was trading below your sell stop), so you sold again at the market, as soon as you bought.
If you are confused about or unfamiliar with stop orders and limit orders, there is a help link available on the order entry ticket. Or you can go directly to this link:
www.collective2.com/how_stop
Dear Mathew
I was mad at myself for being undisciplined that cause my trade from positive to negative. I had 3 available options that the worst case was to accept a break-even trade , however I neither chose one of them and instead of making a few extra bucks, I’m now 30 pips away from my stop.
I was completely frustrating at myself then I saw your response in my thread. I had a really good laugh, I had no idea whether I was laughing at my stubbornness, stupid decision that potential lead to a loss or was I laugh at your response which saying that I was confused with stop and limit order, hence suggested me a help link about them.
Well, I’m just a so-so trader with an average knowledge about currency market but I don’t think I have any problem to distinguish between stop and limit order. So, I tried to find out why you’re saying that I bought and then put a sell stop order although I know it’s not what I’ve done with my order ( let me repeat that I entered both failure trade via a “market order” with a “stop loss order” together and my trade was instantly closed out, the third trade was success with a market order because I put no stop loss order since both previous trade was fail with a stop loss, so there is no reason to repeat).
I logined to my personal e-mail to see what i could find in the signal update message sent by C2 and surprisingly what I saw is 3 of my signal update was showing about the AUD/USD trade which I closed last Friday, not the latest trade GBP/JPY. However, after I manually closed my trade at C2, I later rechecked my e-mail, and realized this time the latest signal update message " sell to close @ market order" not only showing correctly, but also magically corrected all of the 3 previous fault signal. That was so weird thing.
well, you might ask me for the proof as you’re reading to this sentence but unfortunately I had not taken any screen shot out of those fault message. why? (so if you ask) There is no reason to take care about the evidence while I’m facing the loss in my brokerage account, also who knows those message would correct themself ? more importantly, I had no whatsoever real loss about those 2 failure trading signal in C2 , just some bad numbers in my stats and since the drawdown and problem to use C2 sending signal happened last month, I now have no “live subscriber” at the moment, so you don’t have to worry about I made up those statement just to “defend” for my mistake.
Finally, what I want in this lengthy message is just to hope that you will take time to investigate this error in order to solve it, so that we don’t have to experience it again. That’s all about what I’m trying to say. thanks for reading.
Let me simply reiterate what the C2 database says. You had a long position. You entered a SELL STOP order, but your stop price was above the current market price at the time you entered the order. Thus you were filled immediately at the market.
I did not mean to insult you by saying that you do not know the difference between stops and limits. Another alternative is that you used C2’s convenient all-in-one order entry which lets you specify a “profit target” and a “stop loss” at the same time that you type in your entry order. In that case, you simply accidentally transposed the profit target and stop loss – that is, you typed the stop loss in the “profit target” box, and the profit target in the “stop loss” box. That would explain why your sell stop price was above the market price.
