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Market Manipulation?

Matt (BluePanther)
Nov 12 2016 at 23:50
1354 Posts
Greggy posted:
EURUSD - All I want is to be able to compete in a fair market and this market isn't fair to small traders like myself. All I'm doing is what these massive Algorithms are doing day in day out!!! There are literally billions of trend lines. I could draw tram lines day in day out as broker websites tell us to do, but look at how often they break them. Not only that the market is moving sideways!!! Can't win, no matter what you do or you can but it's holding onto your money. I spent hours yesterday morning trying to buy USDCHF up, being guided by trend lines and every time they were being broken. I used stop losses, and I must have lost a dozen or more trades!!!


You'll never win if you have a dodgy bucketshop broker. First step to successful trading is to get a strongly regulated broker. Different jurisdictions (countries) have differing degrees of regulations. My preference is Australia and UK, and US is a strong consideration.

My broker is fine, I just need a decent system now!

Tony Gregg
Greggy
Nov 13 2016 at 07:33
158 Posts
I'm listening. The market is always right? What about the Sterling flash crash a few weeks ago. Was the market right then? If they can crash the market in a couple of minutes, no doubt they are able to manipulate the market daily!!! As for the market being of the view that Clinton would win - were they really of that view or were they misleading people? Setting small traders like myself for a downfall. Why did the market open Sunday Evening with massive gaps and why did USDJPY trade above that gap until the night of the election. You talk about positioning myself and timing my entry etc, but there was nothing wrong with what I did the night of the election except trade!!!

I was fully aware that the gap might be filled, I was long USDJPY and short EURUSD and as I said I expected the market to retrace and fill the gaps, but I was of the opinion that the market would rebound had Clinton won. Both overshot my estimations and soon recovered once Trump was elected. Why is USD going up now? I'm no idiot!!!

Tony Gregg
Greggy
Nov 13 2016 at 07:33
158 Posts
Tony Gregg
Greggy
Nov 13 2016 at 07:35
158 Posts
Had I been analysing charts 30 - 40 years ago I'd have been considered a genius!!! Not laughing, well nearly!!!

Tony Gregg
Greggy
Nov 13 2016 at 07:37
158 Posts
.....or a nutter - whatever!!! I know that's what some people think of me!!! I'm use to it!!!

Tony Gregg
Greggy
Nov 13 2016 at 07:37
158 Posts
....but times change, we live in the age of Algorithms now - humans don't matter!!!

Tony Gregg
Greggy
Nov 13 2016 at 07:41
158 Posts
IMPORTANT:

My advice to manual traders & newbies or anybody else is to treat what I've been posting with CAUTION because the past few days it seems the market has been doing the total opposite. Having said that I have proved that it has worked in the past!!! Just be careful, especially when trading with real money. Furthermore, always test any strategy, any advice on a demo account before trading live!!!

Good Luck!!!

Dove_Services
Nov 13 2016 at 08:25
33 Posts
Greggy posted:
EURUSD - All I want is to be able to compete in a fair market and this market isn't fair to small traders like myself. All I'm doing is what these massive Algorithms are doing day in day out!!! There are literally billions of trend lines. I could draw tram lines day in day out as broker websites tell us to do, but look at how often they break them. Not only that the market is moving sideways!!! Can't win, no matter what you do or you can but it's holding onto your money. I spent hours yesterday morning trying to buy USDCHF up, being guided by trend lines and every time they were being broken. I used stop losses, and I must have lost a dozen or more trades!!!


There are at least three things I noticed from your charts that suggest to me in your trading approach that you need to seriously consider changing if you want to fundamentally improve as a technical trader.

(1) You need to declutter your charts. There are too many lines running across your charts. You obviously is a strong believer in lines but the problem is you don't know how to use them (both in drawing and application). If you know how to use them there would not be that many. Imagine a house with dozen of clocks and they are all telling you a different time. Do you think you will be able to tell the correct time? If telling the time is important for you in trading, you need to spend time to understand how it is meant to work. You should read up on the trading books that teaches the use of trend lines in trading.

(2)In your charts, I note that you have charts in 5M, 15M and 30M TF. You need to decide on which time frame is your trading time frame. In other words, your trade decisions should be based on a singular TF. Switching TF's is a common problem in trading and while there are benefits to having multiple TF's, you still need to have a primary trading TF.

(3)The EURUSD has been on a strong downtrend in the past few sessions (1H TF) with successive lower swing highs and lower swing lows. Not a single lower swing high has been taken out and yet all your trade decisions are on the buy side. In effect you are trading against the trend. They are low probability trades and you should avoid trading against the trend especially at your skill level. Remember the trend is your friend. Don't get into the top and bottom picking business.
         

Tony Gregg
Greggy
Nov 13 2016 at 08:35
158 Posts
Decided to give my mouth a rest.

God Bless & Good Luck with your Trading!!!

c3po
Nov 13 2016 at 12:33
51 Posts
Greggy you expect something that happened before- same thing to happen again but under different circumstances. see? indicators will always be late. you need to figure your own method to triangulate price movement and corner price only BASED upon what others have done (elliot wave, etc). problem is not only different market conditions, the trader is different too. like drivers are different - you dont drive exactly like anyone else and teh road conditions will never be exactly teh same again as they ever where at any point in time ever. its a chinese puzzle you have to figure out for yourself bud.

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