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Honest truth about forex.....

FXtrader2010
Nov 26 2016 at 15:25
724 príspevkov
the GBP flash crash is a perfect example of the honest truth of FX. you will never ever win or make it. A move that even baffled Mark Carney as to how it happened. Im not saying the pips of the move but the time which it covered that movement is pure BS. popular news says it was caused by algorithms being triggered. like wtf?

this is the move of a corrupt sovereign entity. I myself and others I know were big traders have lost a lot from this like not just penny accounts you all seem to run here and show. The future of OTC FX and trading in this arena is like the wild wild west and you swimming with some big mean fish. your chance of success is virtually 0. Not just because you have some special pattern and others dont but there are people who can push a button and move the market.

c3po
Nov 26 2016 at 15:39
51 príspevkov
FXtrader2010 posted:
the GBP flash crash is a perfect example of the honest truth of FX. you will never ever win or make it. A move that even baffled Mark Carney as to how it happened. Im not saying the pips of the move but the time which it covered that movement is pure BS. popular news says it was caused by algorithms being triggered. like wtf?

this is the move of a corrupt sovereign entity. I myself and others I know were big traders have lost a lot from this like not just penny accounts you all seem to run here and show. The future of OTC FX and trading in this arena is like the wild wild west and you swimming with some big mean fish. your chance of success is virtually 0. Not just because you have some special pattern and others dont but there are people who can push a button and move the market.


im really sorry to hear of anyone losing real money. Not to stir the pot but my ea on backtest made 5% on EURGBP the day of breaxit., it was just a backtest but a trillion dollar market is going to heave and ho. CHF unpairing from EUR, and other sipkes make you better prepare for it because you know its coming.

Nina (NEEnah)
Nov 27 2016 at 07:41
71 príspevkov
Hey everyone, I read the latest posts and have to say that many local and even international brokers from my country do the same spread widening. So I guess this is a massive practice of manipulation globally.
@togr Honestly, I don't think that any tool that hides your stop losses will help against serious brokers with advanced dealing desks. Also c3po is right that the broker is mostly looking to hit expected stop losses levels from the majority and not looking for individual client stops.
@c3po Thanks for bringing this up. Yes, what you are saying is a spread widening but also you say it hits the stops of the traders. Isn't it then part of the stop hunting manipulation in general? If you don't think so - what's your definition for 'stop hunting'?
Wish you all to stay away from such bad broker practices and success in your trading!
Will keep following this interesting discussion.

c3po
Nov 27 2016 at 09:58
51 príspevkov
NEEnah posted:
Hey everyone, I read the latest posts and have to say that many local and even international brokers from my country do the same spread widening. So I guess this is a massive practice of manipulation globally.
@togr Honestly, I don't think that any tool that hides your stop losses will help against serious brokers with advanced dealing desks. Also c3po is right that the broker is mostly looking to hit expected stop losses levels from the majority and not looking for individual client stops.
@c3po Thanks for bringing this up. Yes, what you are saying is a spread widening but also you say it hits the stops of the traders. Isn't it then part of the stop hunting manipulation in general? If you don't think so - what's your definition for 'stop hunting'?
Wish you all to stay away from such bad broker practices and success in your trading!
Will keep following this interesting discussion.


Hi Nina. I thought stop-hunting is when market makers actually move the Bid price with massive orders of millions of dollars to hit obvious stop areas.

here is a good read on it.
https://www.investopedia.com/articles/forex/06/stophunting.asp



FXtrader2010
Nov 27 2016 at 17:47
724 príspevkov
c3po posted:
FXtrader2010 posted:
the GBP flash crash is a perfect example of the honest truth of FX. you will never ever win or make it. A move that even baffled Mark Carney as to how it happened. Im not saying the pips of the move but the time which it covered that movement is pure BS. popular news says it was caused by algorithms being triggered. like wtf?

this is the move of a corrupt sovereign entity. I myself and others I know were big traders have lost a lot from this like not just penny accounts you all seem to run here and show. The future of OTC FX and trading in this arena is like the wild wild west and you swimming with some big mean fish. your chance of success is virtually 0. Not just because you have some special pattern and others dont but there are people who can push a button and move the market.


im really sorry to hear of anyone losing real money. Not to stir the pot but my ea on backtest made 5% on EURGBP the day of breaxit., it was just a backtest but a trillion dollar market is going to heave and ho. CHF unpairing from EUR, and other sipkes make you better prepare for it because you know its coming.
sorry I wasn't referring to brexit. That move was actually called for and made sense and it was your risk to take. But the GBP flash crash last month.

kieran (snapdragon1970)
Nov 28 2016 at 14:15
1945 príspevkov
c3po posted:
NEEnah posted:
Hey everyone, I read the latest posts and have to say that many local and even international brokers from my country do the same spread widening. So I guess this is a massive practice of manipulation globally.
@togr Honestly, I don't think that any tool that hides your stop losses will help against serious brokers with advanced dealing desks. Also c3po is right that the broker is mostly looking to hit expected stop losses levels from the majority and not looking for individual client stops.
@c3po Thanks for bringing this up. Yes, what you are saying is a spread widening but also you say it hits the stops of the traders. Isn't it then part of the stop hunting manipulation in general? If you don't think so - what's your definition for 'stop hunting'?
Wish you all to stay away from such bad broker practices and success in your trading!
Will keep following this interesting discussion.


Hi Nina. I thought stop-hunting is when market makers actually move the Bid price with massive orders of millions of dollars to hit obvious stop areas.

here is a good read on it.
https://www.investopedia.com/articles/forex/06/stophunting.asp
Sponsored by ....any time you see a broker sponsored piece of text/advice take with a very large pinch of salt.


"They mistook leverage with genius".
LLewis
Nov 28 2016 at 15:18
35 príspevkov
FXtrader2010 posted:
the GBP flash crash is a perfect example of the honest truth of FX. you will never ever win or make it. A move that even baffled Mark Carney as to how it happened. Im not saying the pips of the move but the time which it covered that movement is pure BS. popular news says it was caused by algorithms being triggered. like wtf?

this is the move of a corrupt sovereign entity. I myself and others I know were big traders have lost a lot from this like not just penny accounts you all seem to run here and show. The future of OTC FX and trading in this arena is like the wild wild west and you swimming with some big mean fish. your chance of success is virtually 0. Not just because you have some special pattern and others dont but there are people who can push a button and move the market.


What you say makes sense and I just want to add that the more eggs you put in 1 basket, the more risk you take to be hit by such events. To me the fact that there was quite a big difference in quoted prices from different authoritative sources was also very surprising.

Once a trader, always a trader!
Nina (NEEnah)
Nov 29 2016 at 15:18
71 príspevkov
c3po posted:
Hi Nina. I thought stop-hunting is when market makers actually move the Bid price with massive orders of millions of dollars to hit obvious stop areas.

here is a good read on it.
https://www.investopedia.com/articles/forex/06/stophunting.asp


Hi c3po, I see what you mean and thanks for the shared article. I got your point and all is clear 😄 You are right about the bid price but as stops are placed on both short and long trades and the spread can widen by increasing both bid and ask price, I just think that stop hunting can be applied in all scenarios by the bad brokers.

Torsten (tormess)
Dec 01 2016 at 11:09
52 príspevkov
c3po posted:
For real. FXCM is 'regulated' but they will wait right before a sell off and as soon as everyone gets ther stoplosses set, FXCM jumps their Ask price up 10x like from 3 pips to 30 pips and shreds everyone's stops....and THEN they drop the Ask price again and let all the algos replace their sell orders then they JUMP the Ask line up again 10x and pop all those orders... THEN they drop Ask back to 3 pips and let algos replace orders again, then Jump up again.... rinse repeat...

you can watch thier Ask line jump from 3 pips to 30 about 10 or 15 times until all accounts blown and/or until the sell off proceeds. Total scam cheating bastards. OH BUT THEY'RE REGULATED. by who? a bunch of crooked friends?


Thank you c3po for brining this up. I learnt a lot from the discussion that followed.

Alexandre (AlGauthier)
Dec 05 2016 at 16:12
35 príspevkov
Great discussion overall!
I would add just the point that across the EU there is a directive that says the broker should provide always the best possible execution of the orders. I think that any case where the price differs significantly from a publicly respected source, such as Bloomberg, could be filed to the regulators for investigation. Not sure if such execution rule exists in the US though.

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