GBPJPY can look like free range until you histogram slippage. I pulled a few hundred discretionary scalps and plotted signed slippage in points. The centre of the distribution was boring; the right-hand tail was where quiet weeks died.
Desk response after seeing the shape:
- Harder spread filter before entry on GBPJPY than on EURUSD.
- Smaller size when Asia is already wild or when London opens into a messy overnight range.
- Time-stop enforced — tails love traders who “give it room” without a clock.
If you have charted slippage on a volatile cross, did the histogram change your size, your session hours, or whether you trade that name at all?
I revisit the histogram quarterly. If the tail thickens, I do not “try harder” on GBPJPY — I shrink size or shorten the hours I allow that cross. Tools change; humility stays.
