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Is forex education misleading or everyone is stupid?

  • #561
  • Jan 30, 2022 12:34pm Jan 30, 2022 12:34pm
Quoting ryuryu
1. Forex market is NOT decentralized. They just copy/paste and imitate. No real trades occur.
Do you have a source for that? Can you provide tangible evidence, or is it the projection of your mindset and market beliefs?
  • #562
  • Jan 30, 2022 2:28pm Jan 30, 2022 2:28pm
Quoting Oliver.Twist
{quote} Do you have a source for that? Can you provide tangible evidence, or is it the projection of your mindset and market beliefs?
Broker#1
1. Sell 100 lot size
2. No buyer found

Broker#2
1. Sell 100 lot size
2. Buy 200 lot size

You think that guy from Broker#1 sold for that guy from Broker#2?

And brokers exchange profit/losses? Reconcile accounting? Bullshit. There are no transaction between brokers ever. Broker just "draw" the win or loss. And since there are much more losses than wins there is no need
All the data they "exchange" is that "tick" volume to imitate the market.

Next question you can find the answer to. Why few milliseconds after real trading activity on CME exactly the same activity occur on every broker. And what happens if there are no matching volume?
Observer effect
  • #563
  • Jan 31, 2022 1:27am Jan 31, 2022 1:27am
Hi CT, this is actually my second post on FF.
I understand your skepticism on the long term profitability in the Forex market.
But have u comprehensively done any research on how profitable news release can be?
  • #564
  • Jan 31, 2022 3:07am Jan 31, 2022 3:07am
Quoting ryuryu
{quote} Broker#1 1. Sell 100 lot size 2. No buyer found Broker#2 1. Sell 100 lot size 2. Buy 200 lot size You think that guy from Broker#1 sold for that guy from Broker#2? And brokers exchange profit/losses? Reconcile accounting? Bullshit. There are no transaction between brokers ever. Broker just "draw" the win or loss. And since there are much more losses than wins there is no need All the data they "exchange" is that "tick" volume to imitate the market. Next question you can find the answer to. Why few milliseconds after real trading activity...
Brokers work with liquidity providers (big banks). Each broker can work with several liquidity providers.

Info from metatrader web site:

Quote
A gateway is an integrated solution that enables brokers to instantly hedge their risk associated with clients' operational risks (STP) though an interaction with other MetaTrader 5 brokers

Here indeed brokers can share their deals to match sides - even without liquidity provider involvement. All is calculated and distributed to get all sides satisfied.

Quoting ryuryu
Why few milliseconds after real trading activity on CME exactly the same activity occur on every broker.
not a big deal to integrate thousands of servers to exchange info in milliseconds. and still, there are differences - charts are not equal for different brokers.

Quoting ryuryu
And what happens if there are no matching volume?
Huge slippage and/or order can't be filled with the desired price.

But you are right - traders with 1k capital are handled by the broker itself. Very fair. Brokers hedge opened deals. No risk for them. + on the same brokers 90% deals are matched.. buyers and sellers. All covered by software. all the rest go to other brokers. And maybe some tinny part goes to liquidity providers.

But overall - all this ecosystem operates quite logical and win-win for all parties. Ofcourse gamblers and stupid traders will lose all money.. so what?

Do not trade with bad brokers - those exist too. As usually - in all businesses there exists scams.
  • #565
  • Jan 31, 2022 4:09am Jan 31, 2022 4:09am
Quoting imoh4king
Hi CT, this is actually my second post on FF. I understand your skepticism on the long term profitability in the Forex market. But have u comprehensively done any research on how profitable news release can be?
Profitable enough if you spend some time finding a broker with decent execution and pick news that usually offer good momentum like NFP, some other US data and rate hikes from several central banks, especially BoE or Bank of Canada which are less predictable than other central banks.
  • #566
  • Jan 31, 2022 5:53am Jan 31, 2022 5:53am
Quoting joyny
{quote} Brokers work with liquidity providers (big banks). Each broker can work with several liquidity providers. Info from metatrader web site: {quote} Here indeed brokers can share their deals to match sides - even without liquidity provider involvement. All is calculated and distributed to get all sides satisfied. {quote} not a big deal to integrate thousands of servers to exchange info in milliseconds. and still, there are differences - charts are not equal for different brokers. {quote} Huge...
I heard that fairy tale many times. I think it is lie. Brokers don't have any liquidity. Liquidity are stops. They can't obtain them from another broker or market.
All they take is tick data to be able to draw their charts. That's why all the chart all over the world are equal.
There is no feedback. Everything works one way. If somewhere "there" somebody buy immediately it will reflect all the brokers. But if any person buy or sell on broker it will never affect no "big" market ahead no other brokers. Never.
And that's why they are hiding volume data from us. Because then we can ask the question why 2+2=235 or why 100+100=3. And where the world did they got that "buyer" for that "seller".

Anyway, it doesn't matter much. Guy said that market is not controlled and it is random. I think it is fully controlled and not random. That's all.

P.S. i think metatrader and metaquotes are the key problem for forex. They are #$%^& scammers. Look at their mt5. It calculate the profit without fees. Everything made to ruin you. They are playing on the brokers side. Try to post a question why it works so strange and you will be banned forever. Even if you have funds on the account. Noone never will give your money back. And the biggest problem is their "demo" accounts. It ruin the market. Market is when real money playing the game. But they don't care. They are selling fake signals and fake eas. And i even don't say that is is shame that in 2022 that garbage works only on windows and there are no custom indis on mobile version. Shame. Shame. Shame. Brokers should think about it. Metaquotes kills their business.
Observer effect
  • #567
  • Jan 31, 2022 6:33am Jan 31, 2022 6:33am
Quoting ryuryu
{quote} Shame. Shame. Shame. Brokers should think about it. Metaquotes kills their business.
Inserted Video
  • #568
  • Jan 31, 2022 6:44am Jan 31, 2022 6:44am
Quoting ryuryu
{quote} There is no feedback. Everything works one way. If somewhere "there" somebody buy immediately it will reflect all the brokers. But if any person buy or sell on broker it will never affect no "big" market ahead no other brokers. Never. And that's why they are hiding volume data from us. Because then we can ask the question why 2+2=235 or why 100+100=3. And where the world did they got that "buyer" for that "seller". Anyway, it doesn't matter much.
all brokers do have the right of keeping the a-book. the a-book trades go live on the market, the b-book trades are just a mt4 server play. they are like a demo trading, but with real money instead.

how exactly the brokers do use the b-book and why use it in precise? i have no idea. they have the right to move clients from b to a and the other way around anytime they want. the b-book is an officially there for their service. sounds shady and in a way it is, but it is still legal and there are no penalties for using a b-book, as it is seems it is a part of the whole business, in a way.

i have heard it from a former biz partner of ours, who holds two brokerages, regulated in a Baltic country. i could not understand why the b-book was completely legal, just remembered it as a fact.

maybe someone who knows more on the b-book keeping can explain it in details?

Quote
Guy said that market is not controlled and it is random. I think it is fully controlled and not random. That's all.
poor guy... imagine, i am keeping one of the largest inventory of gold (or money, whatever), in my warehouse/bank, and have zero control over the price? the price is sooo random, a group of folks can bring it down from 2000 to 200 instead, randomly, and buy me all out of my gold for 1/10 of the price? and me, holding one of the largest gold's inventories? can't do anything about that? imagine that?!?
Maadik Hugiis. IQ 69.
  • #569
  • Jan 31, 2022 6:44am Jan 31, 2022 6:44am
Quoting MoneyZilla
Buying only. Gold. 21+ months in a row. .
hi, what broker do you use for gold and how is the spread in busy hours?
  • #570
  • Jan 31, 2022 6:50am Jan 31, 2022 6:50am
Quoting Ieis5
{quote} hi, what broker do you use for gold and how is the spread in busy hours?
mtcook and icmarkets. really not following their spreads, as most of the time gold's spread is around 1.0 or even below. my trading is not dependent on the spread and swaps. it is not unusual to hold trades for 20 to 40 biz days. using also forextime uk (fxtm uk), where spread is steady around 5.0 or higher. result-wise dont see much of a difference, although it looks like there is a big one, but i tried to explain it to myself and i could not...
Maadik Hugiis. IQ 69.
  • #571
  • Jan 31, 2022 7:01am Jan 31, 2022 7:01am
Quoting MoneyZilla
imagine, i am keeping one of the largest inventory of gold (or money, whatever), in my warehouse/bank, and have zero control over the price? the price is sooo random, a group of folks can bring it down from 2000 to 200 instead, randomly, and buy me all out of my gold for 1/10 of the price? and me, holding one of the largest gold's inventories? can't do anything about that? imagine that?!?

Have you ever heard of the country called Turkey? Somewhere south of Europe and west of Asia, I think... A fairly substantial country both in terms of size and population. They seem to have a problem with their Lira -- it keeps dropping in value. Turkey is governed by a dictatorial regime that controls all aspects of their economy. And they keep trying shit to stop the Lira's fall -- but it's not working. So, what's going on there? Since you guys would claim the price of the Lira is "controlled", then it follows you believe President Erdogan is intentionally tanking his country's economy. Okey, dokey...

By the way -- there is a difference between "controlled" versus manipulation. No doubt there is manipulation at play -- but is that a surprise? We're talking about money, right? Who here doesn't attempt to manipulate how they make money? This "controlled" vs random argument sounds like whining to me...
  • #572
  • Jan 31, 2022 7:08am Jan 31, 2022 7:08am
Quoting ohitsyou
{quote} Have you ever heard of the country called Turkey? Somewhere south of Europe and west of Asia, I think... A fairly substantial country both in terms of size and population. They seem to have a problem with their Lira -- it keeps dropping in value. Turkey is governed by a dictatorial regime that controls all aspects of their economy. And they keep trying shit to stop the Lira's fall -- but it's not working. So, what's going on there? Since you guys would claim the price of the Lira is "controlled", then it follows you believe President Erdogan...
Ok, market is not in control. The price moves because you draw lines and rectangles on the chart.
The rain is because you pray (and because of virgins of course). And the lira drops not because the dictator rule the country economy but not the professionals but because the moon cycle. Okey, dokey...
Observer effect
  • #573
  • Jan 31, 2022 7:08am Jan 31, 2022 7:08am
Quoting ohitsyou
{quote} Have you ever heard of the country called Turkey? Somewhere south of Europe and west of Asia, I think... A fairly substantial country both in terms of size and population. They seem to have a problem with their Lira -- it keeps dropping in value. Turkey is governed by a dictatorial regime that controls all aspects of their economy. And they keep trying shit to stop the Lira's fall -- but it's not working. So, what's going on there? Since you guys would claim the price of the Lira is "controlled", then it follows you believe President Erdogan...
well, basically there is just one currency in the whole wide world. usd. usd rules out. everything else. when usd is saying something costs this much, it is right. fed is tanking the turkish lira and noone can help the lira, unless the turkish dictator starts doing whatever he is advised to do, but it seems he does not, yet, doing it... the russians have identical problems like erdogan. and the rubble's price against the most important currency in the world - the usd, is totally out of their control. fed controls the usd and fed says how much something against the usd costs... and if this is not a control, i don't know what it is...
Maadik Hugiis. IQ 69.
  • #574
  • Jan 31, 2022 7:24am Jan 31, 2022 7:24am
Quoting MoneyZilla
{quote} well, basically there is just one currency in the whole wide world. usd. usd rules out. everything else. when usd is saying something costs this much, it is right. fed is tanking the turkish lira and noone can help the lira, unless the turkish dictator starts doing whatever he is advised to do, but it seems he does not, yet, doing it... the russians have identical problems like erdogan. and the rubble's price against the most important currency in the world - the usd, is totally out of their control. fed controls the usd and fed says how...
Okay -- the Fed rules -- perhaps, I don't know and I don't care. You guys complain about brokers, MT4 and MetaQuotes -- they're not the Fed!! There is a big difference between the Fed and Metaquotes.

I assume you guys trade, right? But you are so angry -- or, at least ryuryu is. If you are so angry then don't trade. You guys have the luxury of choosing whether to risk your fun money trading forex. That's a luxury that billions of people on this planet don't have. If trading makes you so angry then why trade? Seems like an easy problem to solve -- don't trade.
  • #575
  • Jan 31, 2022 7:41am Jan 31, 2022 7:41am
Quoting ohitsyou
{quote} Okay -- the Fed rules -- perhaps, I don't know and I don't care. You guys complain about MT4 and MetaQuotes -- they're not the Fed!! There is a big difference between the Fed and Metaquotes. I assume you guys trade, right? But you are so angry -- or, at least ryuryu is. If you are so angry then don't trade. You guys have the luxury of choosing whether to risk your fun money trading forex. That's a luxury that billions of people on this planet don't have. If trading makes you so angry then why trade? Seems like an easy problem to solve --...
Inserted Code
      }
      if (ticket > 0) { break; }
      err=GetLastError();
      if(err==4 || err==128 || err==136 || err==137 || err==138 || err == 141 || err == 145 || err == 146) //Busy errors
         Sleep(2000);
      else 
         break;
   }
Inserted Code
      if (err==129 || err==132 || err==136 || err==138 || GlobalVariableGet("fakeError") > 0)
speaking of mt4/5.
us cent accounts are important. here is why. i have lost $50,000+ US Cents (equals to $500 US Dollars), instead of losing $50,000 US Dollars, while testing the EA on a live US Cent account. and it was a brilliant idea to use a live USC instead of a live USD... these are the 10 errors that just interrupted my EA's trading and put her out of the track. the dev guy i work with, needed about 6 months to handle all these 10 errors, as some are impossible to reproduce, unless the metaquotes server (the broker's server) on the other end does something about it...

i will spare the name of the broker, as i really want to see what is more there for me to handle of the metaquotes bag of tricks. looking forward for the next set of errors my ea has to handle with a style.

and me is not angry. i am happy. putting me off the tracks becomes more and more difficult, as we handle most of the brokers tricks already...
Maadik Hugiis. IQ 69.
  • #576
  • Jan 31, 2022 7:44am Jan 31, 2022 7:44am
I do the same, any test will be on cent acct then will be $ acct and after getting good result will add fund and withdrawal is must time to time. Don't do cumulative. Open new acct of profit.. Will grow more.. Or may loose less..
  • #577
  • Jan 31, 2022 8:19am Jan 31, 2022 8:19am
It isn't misleading and no one is stupid. It is just that people can't repeat the same process again and again. Anyone trading the markets everyday for 2 years will start to realize that trading can be a full time profession, they just need to show up and that is 80% of the game.
A trade should be based on an assumption based on facts
  • #578
  • Jan 31, 2022 8:30am Jan 31, 2022 8:30am
been trading for 5 yrs now (on and off) sticking to your daily job is still much profitable in any sense, a sure win2win... ive been here in forums its hard to find a consistent history here, because forex is pure random one (everything is down trend LOL),, if anyone is profitable for 1 yr or 2 yrs, the nxt yr will be loosing streak oh well, i stop here and people should stop claiming he is consistent because if you are that good why you are here? you should be in draghi potition
end of the month, u r already a winner
  • #579
  • Jan 31, 2022 9:23am Jan 31, 2022 9:23am
Quoting ohitsyou
But you are so angry -- or, at least ryuryu is. If you are so angry then don't trade.
I'm not angry! I'm surprised! When a person with poker face tells me that the price is moving because he drew a line I'm surprised. I even sometimes check, maybe I was transferred to the 13th century, for example, and now it’s not 21.
And yes I don't like metaquotes and they should remove demo trading! No demo! Only real money! We need more degen gamblers!!
All these masters of rectangles and random lines on the chart are so tasty!!! But 99% of them are demoing! Not good!!!!
Observer effect
  • #580
  • Jan 31, 2022 11:00am Jan 31, 2022 11:00am
Quoting imoh4king
Hi CT, this is actually my second post on FF. I understand your skepticism on the long term profitability in the Forex market. But have u comprehensively done any research on how profitable news release can be?
Slippages make news trading impossible.

Slippages are not brokers faults.

During news, there's no one to take your trade. Less liquidity. There's is no broker in the whole world that will solve this for you, the slippages.

If there's one claiming they can. They're scammers.
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