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Conflict of interests in this forum

JHenrique
Sep 04 2016 at 12:52
32 posts
There is conflict of interest between the members of this forum and “expenrencied” members?

In my country, the brokers finance, directly or indirectly, programmers of robots, “teachers” of trading, “traders” of calls, technical and fundamental “analysts”, every what you think…

So, in a closed group of programmers in the FB, I ask for all if they already had found or programmed a profitable EA and if yes, if they could give a demo version. Do you know what they answer me? They laughed at me.

So I said that they or are idiots, because they are working in a thing that doesn’t work, or they are scammers, because they are offering services for others persons that don’t know that EA doesn’t work. In other words: Conflict of interest.

So, the “traders” says that I operate for 2 or 5 five, I will become a profitable trader. Really? REALLY!?!? RRREEEAAALLLLLLYYY!?!?!?!?

How can I know that these advices was give me for benefit me or for, actually, benefit the broker? In other words: Again conflict of interest.

How can I know that advices and tips that I read in this forum was wrote by profitable trader for teachers newbie traders or of it was wrote for broker’s works for seduce and induce the newbie trader make trading.
Magixs (Magiic)
Sep 06 2016 at 12:02
435 posts
If they're saying something factual, fact check it. If it's an opinion, then you have to be smart enough to see whether it has weight or not.

If it's a system just look at the track record/broker/$ trading the system.

Be smart.
stian
Sep 06 2016 at 13:10
325 posts
True ECN type brokers doesn't cover your trades themselves, they make money from your volume. The more you profit, the more volume you can have. If you lose all your money, you stop trading.

Market makers tend to profit from your losses.

Never blindly trust a tip from anyone. There is no such thing as a 100% chance they will be profitable.
aidysproule
Sep 06 2016 at 16:51
18 posts
Never blindly trust a tip from anyone.

Is the a tip your giving us? 😝
stian
Sep 06 2016 at 17:34
325 posts
aidysproule posted:
Never blindly trust a tip from anyone.

Is the a tip your giving us? 😝

Sure, just don't blindly trust it. :P
cedtrading
Sep 08 2016 at 06:54
46 posts
yes maybe market maker cover your trade to opposite way but this not mean they go to find your stop loss.... they just dont need as 95% of trader crash account, anyway if some trader become profitable in long term and fastly , the broker send you to extern market of him system.
FxMasterGuru (FxMasterGuru)
Sep 08 2016 at 08:17
1608 posts
cedtrading posted:
yes maybe market maker cover your trade to opposite way but this not mean they go to find your stop loss.... they just dont need as 95% of trader crash account, anyway if some trader become profitable in long term and fastly , the broker send you to extern market of him system.

Absolutely right. Even 'ECN brokers' cover the trades 'in-house' for small retail traders.

Once a trader starts becoming consistently OR too profitable then they either:

1. Activate their parasite 'virtual dealer plug-ins' on smaller profitable accounts (trading below 50 lots)

OR

2. They send the orders to real liquidity providers (usually > 50 lots).

The common denominator is the appearance of HUGE slippages with the typical explanation upon inquiries: 'Sorry. That was the best price where we could match your order with a buyer or seller...' (which could be 10+ pips away and totally legal...)

In other words: the displayed ASK/BID prices are mostly 'for show only' for smaller and newer accounts, i.e. which have not got the virtual dealer plug-ins (yet) and which are traded 'in-house' (i.e. B-booked).

Want to avoid such manipulations? Develop your proftable startegy and move it to the highly regulated and centralized currency futures markets.
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vontogr (togr)
Sep 08 2016 at 09:54
4862 posts
JHenrique posted:
There is conflict of interest between the members of this forum and “expenrencied” members?

In my country, the brokers finance, directly or indirectly, programmers of robots, “teachers” of trading, “traders” of calls, technical and fundamental “analysts”, every what you think…

So, in a closed group of programmers in the FB, I ask for all if they already had found or programmed a profitable EA and if yes, if they could give a demo version. Do you know what they answer me? They laughed at me.

So I said that they or are idiots, because they are working in a thing that doesn’t work, or they are scammers, because they are offering services for others persons that don’t know that EA doesn’t work. In other words: Conflict of interest.

So, the “traders” says that I operate for 2 or 5 five, I will become a profitable trader. Really? REALLY!?!? RRREEEAAALLLLLLYYY!?!?!?!?

How can I know that these advices was give me for benefit me or for, actually, benefit the broker? In other words: Again conflict of interest.

How can I know that advices and tips that I read in this forum was wrote by profitable trader for teachers newbie traders or of it was wrote for broker’s works for seduce and induce the newbie trader make trading.

To be honest most of your writing is just garbage. You have to study Forex much more to really understand it.
xgavinc
Sep 09 2016 at 10:21
235 posts
Trading is conflict:

Between your mind and the market.
Between you and your broker.
Between you and other traders. (though the chances of a trader you know being directly on the opposite side of your trades in a +$3tril market is remote.)

Every trader has a goal - make money.
Every broker has a goal - make money.
Every bank has a goal - make money.

If everyone made money there would be none left to go around. If you are scared about conflict and total market distrust, it may be best to not trade and stash your money under your bed. It's risk / reward, traders take the risk for the reward - manage risk by educating yourself, do your own homework, do your own trading and stop relying on a trader, broker, programmer, EA, etc. to make you money. Learn to take your own advice first and foremost.
For every loss there should be at least an equal and opposite profit.
rob559
Sep 09 2016 at 17:37
1916 posts
togr posted:
JHenrique posted:
There is conflict of interest between the members of this forum and “expenrencied” members?

In my country, the brokers finance, directly or indirectly, programmers of robots, “teachers” of trading, “traders” of calls, technical and fundamental “analysts”, every what you think…

So, in a closed group of programmers in the FB, I ask for all if they already had found or programmed a profitable EA and if yes, if they could give a demo version. Do you know what they answer me? They laughed at me.

So I said that they or are idiots, because they are working in a thing that doesn’t work, or they are scammers, because they are offering services for others persons that don’t know that EA doesn’t work. In other words: Conflict of interest.

So, the “traders” says that I operate for 2 or 5 five, I will become a profitable trader. Really? REALLY!?!? RRREEEAAALLLLLLYYY!?!?!?!?

How can I know that these advices was give me for benefit me or for, actually, benefit the broker? In other words: Again conflict of interest.

How can I know that advices and tips that I read in this forum was wrote by profitable trader for teachers newbie traders or of it was wrote for broker’s works for seduce and induce the newbie trader make trading.

To be honest most of your writing is just garbage. You have to study Forex much more to really understand it.

yes....
Richard Bills (RichardBills)
Nov 09 2016 at 15:55
74 posts
Regulation and proper rules should always be in place to fight conflict of interest. This is a serious topic, indeed and I believe that if someone is selling something, there should be a prominent risk disclaimer and clear mentioning of any commercial affiliation. Read the comments and thought it would be good to add that point.
@JHenrique - you never know until you do your due diligence researching the service provider.
Raj (RPatell)
Nov 14 2016 at 09:08
64 posts
Hopefully to be on the winning side 😄
Knowledge is king!
FxMasterGuru (FxMasterGuru)
Nov 14 2016 at 10:00
1608 posts
RPatell posted:
Hopefully to be on the winning side 😄

@RPatell

What are the chances of retail traders (like us) against crooked brokers and poweful banks, not to mention institutional pro traders armored with the world's best available hardware, software and top of the class MIT statisticians and IT specialists on their payrolls...

Seriously... What are the REALISTIC chances of being on the 'winning side'...?
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c3po
Nov 14 2016 at 10:37
51 posts
how do you know anything is real? just trust your own testing. Learn MQL and it will help your testing to bring into focus how it works.
c3po
Nov 14 2016 at 10:42
51 posts
FxMasterGuru posted:
RPatell posted:
Hopefully to be on the winning side 😄

@RPatell

What are the chances of retail traders (like us) against crooked brokers and poweful banks, not to mention institutional pro traders armored with the world's best available hardware, software and top of the class MIT statisticians and IT specialists on their payrolls...

Seriously... What are the REALISTIC chances of being on the 'winning side'...?

dont accept a loss unless you have a winner to meet or exceed it to close along with it. Now figure out how to distribute your orders so it doesnt blow the account. think like a child. pretend that you know theres an answer to the puzzle and as long your determination to solve it exceeds your discouragement then you will succeed.
xgavinc
Nov 14 2016 at 10:43
235 posts
There is no spoon...
For every loss there should be at least an equal and opposite profit.
FxMasterGuru (FxMasterGuru)
Nov 14 2016 at 16:06
1608 posts
c3po posted:
FxMasterGuru posted:
RPatell posted:
Hopefully to be on the winning side 😄

@RPatell

What are the chances of retail traders (like us) against crooked brokers and poweful banks, not to mention institutional pro traders armored with the world's best available hardware, software and top of the class MIT statisticians and IT specialists on their payrolls...

Seriously... What are the REALISTIC chances of being on the 'winning side'...?

dont accept a loss unless you have a winner to meet or exceed it to close along with it. Now figure out how to distribute your orders so it doesnt blow the account. think like a child. pretend that you know theres an answer to the puzzle and as long your determination to solve it exceeds your discouragement then you will succeed.

...??

Attachments:

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c3po
Nov 14 2016 at 17:07
51 posts
FxMasterGuru posted:
c3po posted:
FxMasterGuru posted:
RPatell posted:
Hopefully to be on the winning side 😄

@RPatell

What are the chances of retail traders (like us) against crooked brokers and poweful banks, not to mention institutional pro traders armored with the world's best available hardware, software and top of the class MIT statisticians and IT specialists on their payrolls...

Seriously... What are the REALISTIC chances of being on the 'winning side'...?

dont accept a loss unless you have a winner to meet or exceed it to close along with it. Now figure out how to distribute your orders so it doesnt blow the account. think like a child. pretend that you know theres an answer to the puzzle and as long your determination to solve it exceeds your discouragement then you will succeed.

...??

oh I thought it was someone cool asking a real question, didn't realize it was you or wouldn't have tried to help.
FxMasterGuru (FxMasterGuru)
Nov 14 2016 at 17:45
1608 posts
@c3po

Thanks, anyway...! You are a good fella!

By the way, statistics clearly show the chances of beating the brokers, banks and instititutional traders in their own game.

The chances are about the same as beating the casinos in blackjack or becoming a consistently profitable poker player...

It is possible (many people did just that), but again, what are the chances for the majority of us...?
__________________________________________________________________________________________________

P.S. I would argue with this statement of yours: ''Dont accept a loss unless you have a winner to meet or exceed it to close along with it.'' A close friend of mine did the same (i.e. did not accept the loss) got a margin call and eventually lost $200k+. She did not accept the loss... She was tough and determined... Later she committed suicide...
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Dove_Services
Nov 14 2016 at 22:21
33 posts
c3po posted:
FxMasterGuru posted:

dont accept a loss unless you have a winner to meet or exceed it to close along with it.

Psychologically that is what we are tempted to do. Unfortunately that goes against the golden rule 'cut your losses but press your winners'. Trading is hard for this simple reason.

Every few years I have to go back reading 'Phantom of the pits' as a reminder.
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