Nolite dormiens pungere ursum. -- Latan Proverb.
- Joined May 2005 | Status: Member | 1,494 Posts
In trading, there is no bullshit. You either make money or you don't.
forex and all eas are a scam, stay away from forex 53 replies
ALL KIND OF MT4 Indies (EX4) (MQ4) & (MQH) SHARE ALL 17 replies
T101 buy all or sell all scripts with a twist. 0 replies
One for all. All for one. 6 replies
"Show All" doesn't show all! 3 replies
Quoting tojokoDislikedIndeed, it _is_ a teamsport. Or, why do you think George Sorros told every
body, that he bet against the Pound? (Of course, only _after_ he did so?)Ignored
Quoting narafaDislikedTo answer the question of the thread shortly, in a sense, everybody in the forex market is against everybody....Every trader is competing with literally every other trader....Simple & true, and that's just my opinion of course...
Thanks,
NaderIgnored
Quoting tojokoDislikedwhy do you think George Sorros told every
body, that he bet against the Pound?Ignored
Quoting opteronDislikedthat's just the media portraying his action as "unbelievably" accurate. publicity or no publicity created is trivial.
Soros said the market will respond the same way even if he had not shorted the pound. In terms of the universal law of reflexivity, he is just a market participant. His analysis before his action was that a turning point where the cognitive and participatory actions will diverge, is reaching soon.
The big fall in pound merely affirms that his thinking is accurate at that time.
There is no team sports action here when the illusion of dichotomy has been broken. It means Soros is "one" with the market, in a natural state of union with market flow at that time. And this is the holy grail of trading...Ignored
Quoting DarkstarDislikedI take it your a fan?Ignored
DislikedI was thinking about, what will happen if... ok, imagine something like that:
We all (the most people as possible, including all live-traders of this forum, and of all other forums of the web, plus all other traders that don't look forums, but can be contacted via IM or emails) think about one day (say for example moonday, we choose a currency (say for example gbp-usd), we choose for a particular hour/minute/second when there are no NEWS in the market, it's important (say for example 8.45.00 gmt+1), then.. in that exact moment we all buy as more as we can gbp-usd, everybody buy buy buy the most of he can buy (in live accounts!)! every forex trader of this world buy the most he can buy, of that currency, in that exact moment! and we all set TP for 50 pips.
what will happen?
do price will go up in 5 seconds, and hit all our TP? (and after touch it, everyorder will be closed, so maybe it will return 50pips down?)
what will happen?
$$$ for everybody?Ignored
DislikedI was thinking about, what will happen if... ok, imagine something like that:
We all (the most people as possible, including all live-traders of this forum, and of all other forums of the web, plus all other traders that don't look forums, but can be contacted via IM or emails) think about one day (say for example moonday, we choose a currency (say for example gbp-usd), we choose for a particular hour/minute/second when there are no NEWS in the market, it's important (say for example 8.45.00 gmt+1), then.. in that exact moment we all buy as more as we can gbp-usd, everybody buy buy buy the most of he can buy (in live accounts!)! every forex trader of this world buy the most he can buy, of that currency, in that exact moment! and we all set TP for 50 pips.
what will happen?
do price will go up in 5 seconds, and hit all our TP? (and after touch it, everyorder will be closed, so maybe it will return 50pips down?)
what will happen?
$$$ for everybody?Ignored
DislikedI was thinking about, what will happen if... ok, imagine something like that:
We all (the most people as possible, including all live-traders of this forum, and of all other forums of the web, plus all other traders that don't look forums, but can be contacted via IM or emails) think about one day (say for example moonday, we choose a currency (say for example gbp-usd), we choose for a particular hour/minute/second when there are no NEWS in the market, it's important (say for example 8.45.00 gmt+1), then.. in that exact moment we all buy as more as we can gbp-usd, everybody buy buy buy the most of he can buy (in live accounts!)! every forex trader of this world buy the most he can buy, of that currency, in that exact moment! and we all set TP for 50 pips.
what will happen?
do price will go up in 5 seconds, and hit all our TP? (and after touch it, everyorder will be closed, so maybe it will return 50pips down?)
what will happen?
$$$ for everybody?Ignored
DislikedI couldn't agree more with the second post in this thread.
In the stock market traders trade against one another and during the whole process the broker gets a part of the money as comissions
On Forex traders play within the retail broker's computer system.So basically most retail FX traders do not even realize that they do not buy or sell anything , they just place bets on movement of specific currency pair.These bets are accepted by the broker
Brokers have a system which can be described this way (a bit simplified):
1. They have customer accounts
2. They have a profit account
If you become their customer and place for example 10K in your account their statistics tell them that for example within 2 weeks a certain amount out of these 10K will be at the broker's profit account , for example 4K
And here is the explanation why so many traders complain about their FX brokers:
It is far more expensive to obtain a customer than to maintain a customer
The broker does not need a long-lasting relationship with you as this would usually be the case with a stockbroker.Their job is get as much money from your account balance into their profits account as soon as possible.After that you can leave , no one will care!
1. On one side the broker will take steps to accelerate the money movement from the customer accounts into the broker's profits accounts
These are many ways to do this: freezing the platform , manual execution , stop hunting , requoting etc.
2. Dealing with profitable traders
Face it: If you are a really profitable trader the broker does not need you because only a small part of your account balance is gonna come into the broker's profit account - maybe even nothing
and when you make profitw the broker will even have to take money out of their profit account in order to pay it into yours.Can you see my point? it is so simple
For this reason most retail brokers will take steps to get rid of you , this is very easy.They just will frustrate you to a level at which you will leave on your own
So basically Forex is the same as a casino for most retail traders.Just when you go to a casino you know you are gambling and on Forex most people actually think they are trading!
andrewIgnored
DislikedBy the way regarding Oanda , I forgot to mention that they have built in certain features into their system to help you lose as well.But they do not tend to manipulate open trades like most other brokers.
However following features must at least be considered as "ethically questionable":
1. No possibility to hedge through the same account (only through a sub-account) , basically this is one way trading
2. Margin call means everything will get closed immediately
3. Very expensive withdrawals = £25.00 = $50.00
Come on , do I really need to explain why it is the way it is?
andrewIgnored