U seems really heavily frustrated... I remember I was in this bad mood after my first years of manual trading, loosing some small accounts . At this time i didnt realize the broker(CMS) stop hunted me to death, besides other dirty tricks. I almost gave up on forex trading. I m glad i didn't. I changed the broker and started trading EAs and guess what? Since than i made money
pc8multifx posted: U seems really heavily frustrated... I remember I was in this bad mood after my first years of manual trading, loosing some small accounts . At this time i didnt realize the broker(CMS) stop hunted me to death, besides other dirty tricks. I almost gave up on forex trading. I m glad i didn't. I changed the broker and started trading EAs and guess what? Since than i made money
First of all a broker could never 'stop hunt' you. When you send an order in it goes straight to the execution desk for filling. What they have is a price and size. This immediately goes to the back office for processing. By the time you get your ticket back so many trades would have happened that they honestly don't know your position anymore. Stop hunting is just an illusion. Your broker isn't out there to 'get you'. You're scalping for crying out loud, you should expect slippage and requote. This happens in every market not just fx. I mean if you get an offer 98 bid 99, you have to make a decision or the broker will say: your risk.
You seem to missing the point of the website. It's not only for people who can trade, but also for those who can't and are looking for those who can. Nothing wrong with that. Not everyone wants to sit there for years trying to figure out forex. Quite acceptable to pay someone else to do it for you.
Because of all the bullshit systems here I think the latter half of the equation are getting rather frustrated. I'm not even looking and I'm frustrated.
People who hold up the bullshit systems should expect to get ragged. Those looking are tired of all the dishonesty. I know I am.
Of course non of that has anything to do with this system. Just your attitude.
Whatever my attitude we are all looking for an EA that works. All of us think there must be one out there or we would not be on this forum.
pc8multifx posted: i never scalped.. when u see the a trade stopped out on a price that never appeared on any other broker platform u can be assured this is stop hunting
i know what i m talking about , i m long enough in the business
if u still don't know about brokers plug in software to flag u out, u should be very careful
how far away was the price from the other brokers? If it's a few pips, it is acceptable. Like I said you should expect slippage and broker can quote you whatever price he wants to. If you don't want to deal on that you simply say 'no deal'. If he makes a mistake and quotes you 1 big figure away, it is your decision to take it or leave it. He can't break the trades if he lost money by quoting you the wrong price, either. It's a fair game. You can blame a broker for a bad fill in which case you just go find someone more competent. But you can't blame a broker for a bad price. It is your responsibility to know the right price. If I give an order to sell 10 euros I would expect this order to be done smoothly and at the current market price. But if my order is for 1000 contracts in a fast market I know it would take sometime to fill and the price will be awful. As long as it's not too far out of the line I'm okay with it. Brokers are in this business to make money, too. If you leave a stop at say 1.5000 and the market stands at 1.5020, the broker would of course be liable if he fills you at 1.5000, a level which the market never reaches, call him up and I bet he would gladly break the trades for you(unless it's not a broker but a crook? but then again it is your responsibility to do the due diligence on your broker). But if the market is at 1.5001 and the broker charges 1 pip for commission then shouldn't it be your responsibility to account for the commission when you place your order? Also if you put a market order it will be executed at the market. Stop orders are market orders they will be filled at the market, which means it could theoretically be 200 points below the order price and it would still be a lawful transaction. Maybe you should've put a limit order instead? But then you may not get filled at all.
OK I guess I'm being quite a hard ass here but look at your average win, they're only 10+ pips, that's scalping. 10+ pips is like, what, 1/1000 of the real move? If you go to a bank with your track record they will filter out the news trades and these little things because they know these things can't last and they want to see if you trade the real moves.
ask brokers how they define scalping.. its not about the profit target in pips, its all about the TIME u stay in the trade to make the profit. They need time to hedge my trade if its a MM bucketshop broker.
Go to the monthly analytics of my EAs, click on it and see how long i hold the trades....u got it?
When u get stopped out trade after trade by one single pip, no matter how far away the stop was set, and than price reverses than u know its stop hunting. This was only an issue in the beginning when i traded manually
It cant happen to my system anymore, i just hedge trades instead of a stop loss. Bucketshops stop hunting isn't a problem for me anymore😀 These greedy bastards now steal money with 1 or 2 pips slippage on every single position exit, even in the slowest market times LOL
Why are my open orders locked? Simple, I place one or two trades a day. Myfxbook updates pretty frequently, I don't want other people jumping on the back of my trades then complaining when I have a loosing run!. The reason I am on here is because I like the way myfxbook displays information. That said I verified my system and I guess I must have done that for a reason. I just don't know what that reason is yet.
Am I worried about stop hunting? No. IF it exists i'm sure its only in the worst brokers. Mine is straight through and I am happy with them so far.
Would I sell my EA? Why would I, anyone here is not likely to pay what I want for it. If it carries on at the rate that it is, I'll be worth $24 million dollars by this time next year, why would I sell it for $95. If it fails or performs really badly then I could sell it but I am not that kind of guy.
Would I take investors? Maybe.
Do I expect this system to be successful indefinitely? I hope so. Theres a better chance of me getting rich from this than winning the lottery.
Did I write the EA myself? No. However I commissioned it based on my ideas. It was written for me then I added a couple of twists, so I have the only copy.
What is my system? Three years of staring at charts until my eyes hurt and patterns begin to emerge. Sound money management, breakouts and price action.
Did RFOLGATE sleep on the sofa with Fiona. I don't know, Fiona is my dog so I hope not but each to their own!
Oh Yes, just in case you are interested, my average trade lasts around an hour or so. I use stop losses and I set take profits. Don't be scared of the fact that I'm not displaying my live trades or history:)
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.