Missed trades, but not to worry

I have been playing it save this week as I was a not sure what Memorial day would do for liquidity. My cautiousness may have led to blindness, because I totally missed out on another perfect setup on Brent Oil. The third last bar in below chart formed on Memorial day. I found it a bit small, but it was a pinbar that I could trade according to the method I use. Anyway I had doubts about the trade due to the off-day for US banks. And when in doubt, I do not trade. So all in all it looked like a good decision until I saw today's sell off.. Oh well, you cannot be in all trades and there will be more to come.
Brent Oil selling off
Then something else happened. My entry order did not get filled on the USDJPY today. Why? you might ask. First let's look at the chart.
USDJPY not entered
First of all I never enter at market, but always by limit order. I place them with stops and TPs, but also with bounds. These bounds are the level of slippage I am willing to accept in order to get filled. In "normal" moving markets (no news events) and with enough liquidity entering with a 3 pip lower and upper bound works. So what happened is that my entry level was reached right when Mr Draghi, President of the ECB was presenting some report and at the time that both US and Japanese banks where closed. So I checked the recent spreads at my broker Oanda and saw that right at that moment spreads are usually 1,5 pip higher then that they are throughout the rest of the day for this pair.Below is a snippet of spread graph by Oanda. The big block is the weekend, when spread moves up to 10 pips as markets are closed. My entry got triggered when spread "peaked" at 2,5 pips on Wednesday 30/5, while most of the time the spread is around 1 pip.
USDJPY Oanda spreads
Source: http://fxtrade.oanda.co.uk/why/spreads/recent

So the lesson I have learned is to pay more attention to setting these bounds at correct levels. And that these levels can differ per pair and time of day that I expect to get filled.

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