Hmmm, I read your stories here...I had an advantage I think because I trade lots of GBP so more focus here. What I have seen was massive buy orders all over the place AGAINST the GBP since start of last week. So I added almost 100% to my old, already profitable position on wednesday (shorting GBP) - although that is against everything I do in general but have never seen such an imbalance in buying orders against selling orders on a currency.
The buying pressure against the GBP was so huge that it only could down (theoretically)- even when it was so huge down already. Now these positions to the downside are filled...- my accout skyrocked this morning 45%... I sold 10% of my whole position.
I only added to my old position on wednesday because I was so safe already, so the avergaging was no problem. I wanted to put one more huge position this week but I wanted to set the Stop sell on monday, today. -I was too late...
As others mentioned here already: The market is moved by big players and the only earn money if the can take out SL which are far away from their initial position. The reason for that is, if you move the market 200 pips down, you have to buy it back (a.k.a. 200 pips up). So they have to be very careful when to attack in such a huge way. In general that happends after northern hemmisphere summer time...big boys need money again.
As I talk here they recover their open positions... so buying pressure still on GBP/USD and all over the board. But the main goal was to wipe out accounts like from Georginson.
So they earn small money from SL hunting (all over the year) and BIG Money from margin calls and in general they know where these calls sits. The mean thing here is, SL you can hide (by setting them mentally or with an external program) but MARGIN CALLS areas you cannot hide if you are already in with a huge amount, hoping for recovery. Industry knows that...
That's how they make money...
Just my two cents...
The buying pressure against the GBP was so huge that it only could down (theoretically)- even when it was so huge down already. Now these positions to the downside are filled...- my accout skyrocked this morning 45%... I sold 10% of my whole position.
I only added to my old position on wednesday because I was so safe already, so the avergaging was no problem. I wanted to put one more huge position this week but I wanted to set the Stop sell on monday, today. -I was too late...
As others mentioned here already: The market is moved by big players and the only earn money if the can take out SL which are far away from their initial position. The reason for that is, if you move the market 200 pips down, you have to buy it back (a.k.a. 200 pips up). So they have to be very careful when to attack in such a huge way. In general that happends after northern hemmisphere summer time...big boys need money again.
As I talk here they recover their open positions... so buying pressure still on GBP/USD and all over the board. But the main goal was to wipe out accounts like from Georginson.
So they earn small money from SL hunting (all over the year) and BIG Money from margin calls and in general they know where these calls sits. The mean thing here is, SL you can hide (by setting them mentally or with an external program) but MARGIN CALLS areas you cannot hide if you are already in with a huge amount, hoping for recovery. Industry knows that...
That's how they make money...
Just my two cents...
2
