My broker stop hunted me! | Forex Factory

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My broker stop hunted me!

  • #1
  • First Post: Edited 2:14pm Jul 13, 2008 1:43pm | Edited 2:14pm
Anyone care to share their horror story w/ a particular broker? We'd love to hear the tale relived.

To start, we had the 30 pip EURUSD spike on Oanda last week....
  • #2
  • Jul 14, 2008 5:36am Jul 14, 2008 5:36am
I was in profit enough to sail thru the spike - as Billflet's sig says 'it's all just noise'
In trading, there is no bullshit. You either make money or you don't.
  • #3
  • Jul 14, 2008 9:18am Jul 14, 2008 9:18am
Oanda seems to be getting bad these past few weeks, especialy before and after news reports. Their prices are so off real market quotes at times its crazy.
  • #4
  • Jul 14, 2008 9:27am Jul 14, 2008 9:27am
my broker looks like this:

http://rhythmlabonline.com/wp-conten...elmer_fudd.jpg

  • #5
  • Jul 14, 2008 12:01pm Jul 14, 2008 12:01pm
Dr watson! Dr watson! come quickly! We have a **living** specimen. The world thought this species went extinct years ago!

 apatobaro brachycanthus leptosenilis

heavily deceived thin spined one (scrawny yellow rabit hunter)

Oanda is SUCH a dinosaur! I used to trade there.
  • #6
  • Jul 14, 2008 1:05pm Jul 14, 2008 1:05pm
guys, can we get names of brokers that are screwing clients?

that's what i'm after.... building a list of horror stories w/ various brokers.

thanks again.
  • #7
  • Jul 14, 2008 1:23pm Jul 14, 2008 1:23pm
I would love to see some actual evidence of this ? / ? It seems to me the brokers would not participate in this kind of activity because it would be 1) illegal and 2) counterproductive to their business. The more likely scenario in my opinion is that the traders getting stopped out just simply made bad trades and are looking for someone to blame.
Keep it simple stoopid....
  • #8
  • Jul 14, 2008 2:20pm Jul 14, 2008 2:20pm
Quoting Kurka Fund
I would love to see some actual evidence of this ? / ? It seems to me the brokers would not participate in this kind of activity because it would be 1) illegal and 2) counterproductive to their business. The more likely scenario in my opinion is that the traders getting stopped out just simply made bad trades and are looking for someone to blame.
1) It's not illegal, marketmakers are perfectly within their rights to quote whatever they like, fill whatever they like, reverse trades, hunt stops, miss targets, it's all in the agreement.

2) 90% of their clients probably don't even notice anything is wrong!

But you wanted evidence so here you go, Oanda at it's finest.....(watch quotes 20 seconds in)

http://www.mediafire.com/?dz21xxsxjjm (1.85mb .wmv)
  • #9
  • Jul 14, 2008 2:24pm Jul 14, 2008 2:24pm
Quoting lostinspace

But you wanted evidence so here you go, Oanda at it's finest.....

http://www.mediafire.com/?dz21xxsxjjm (1.85mb .wmv)

You mean NFP is a dangerous time to trade?!? Who would have thought.


You either learn to play the game, or you end up a victim of it.
  • #10
  • Jul 14, 2008 2:28pm Jul 14, 2008 2:28pm
Quoting mbqb11
You mean NFP is a dangerous time to trade?!? Who would have thought.


You either learn to play the game, or you end up a victim of it.
Thank you for verifying point no.2!

What are you going to say next, that it was an arb opportunity? Yeah, right
  • #11
  • Jul 14, 2008 2:31pm Jul 14, 2008 2:31pm
Quoting lostinspace
Thank you for verifying point no.2
And thanks for showing us that NFP there are spikes, spread widening, and the same people losing money

  • #12
  • Jul 14, 2008 2:34pm Jul 14, 2008 2:34pm
Quoting mbqb11
And thanks for showing us that NFP there are spikes, spread widening, and the same people losing money

lol, you see what I mean, some people just can't see anything wrong with that picture and that's why marketmakers like Oanda can get away with this stuff.

Too funny, seriously, just too funny.
  • #13
  • Jul 14, 2008 3:04pm Jul 14, 2008 3:04pm
Quoting lostinspace
lol, you see what I mean, some people just can't see anything wrong with that picture and that's why marketmakers like Oanda can get away with this stuff.

Too funny, seriously, just too funny.
What is Oanda getting away with. Helping me pay my bills, by taking my trades? Bad Oanda, bad.

Switch brokers if you are unhappy with them lol...whoa thats tough to do
  • #14
  • Jul 14, 2008 3:13pm Jul 14, 2008 3:13pm
Quoting mbqb11
What is Oanda getting away with. Helping be pay my bills? Bad Oanda, bad.

Switch brokers if you are unhappy with them lol...whoa thats tough to do
Switch? No need to switch, no serious trader would trade with a bucketshop who does things like that.

I'm quite happy to be proved wrong here, all you need to do is post a screenshot or give details of one other marketmaker who quoted Eur/Usd 1.5654 at 1:35 BST (8.35 EST), that should be easy enough to do if Oanda were quoting accurately. The NFP numbers had already been released 5 minutes earlier, Oanda spreads were nearly back to normal.

Or maybe you can explain Oanda's 44 pip difference in quotes, I would be interested to hear your explanation. And before you say it was a spike due to bad data, Oanda stand by those quotes. Or maybe it was the other two marketmakers who were out, that's fine, just show me another marketmaker who quoted the same price as Oanda at that time.

If you're going to argue your point then at least support it with something tangible.

Thanks
  • #15
  • Jul 14, 2008 3:16pm Jul 14, 2008 3:16pm
It's called having multiple brokers depending on the type of trades your taking. I know from long long ago not to putz around with oanda during NFP. Maybe now you know also.

If anyone is new to these boards and surely will stumble into this thread as broker stop hunting is really fun to talk about. If you want to know who's making money, its the people not sitting around complaining about brokers all day.

Best of luck

Mike
  • #16
  • Jul 14, 2008 3:28pm Jul 14, 2008 3:28pm
hey guys.... this isn't where i wanted the thread to go.

Kurka: there was a thread posted last week where the guy showed a screen capture of Oanda spiking 30 pips away during normal market conditions (no news even close.) you can search for your evidence there.... i am too lazy to find it again, but it is there if you want it.



please, let's not get into platform freeze/spread widening discussions during news releases. let's talk about your spikes that occured during normal market hours.

thanks.

ps) if this thread doesn't do anything for you, kindly move on. thanks in advance.
  • #17
  • Jul 14, 2008 3:32pm Jul 14, 2008 3:32pm
Quoting mbqb11
It's called having multiple brokers depending on the type of trades your taking. I know from long long ago not to putz around with oanda during NFP. Maybe now you know also.

If anyone is new to these boards and surely will stumble into this thread as broker stop hunting is really fun to talk about. If you want to know who's making money, its the people not sitting around complaining about brokers all day.

Best of luck

Mike
Ah right, so that would be a 'no' to posting anything like a screenshot or details to support what you're saying. That's fine and not totally unexpected.

Oanda moved price to suit their order book for their own financial benefit, plain and simple. Is that honest?

Like you say, "not to putz around with oanda during NFP" and that's good advice by the look of it, another choice might be to trade with an honest marketmaker because if Oanda can do something as blatant as that then they can probably do anything!

I take it you trade with Oanda, in which case I think you better hang on to that luck you're passing around, you're going to need all you can get
  • #18
  • Jul 14, 2008 3:36pm Jul 14, 2008 3:36pm
Quoting lostinspace
Ah right, so that would be a 'no' to posting anything like a screenshot or details to support what you're saying. That's fine and not totally unexpected.

Oanda moved price to suit their order book for their own financial benefit, plain and simple. Is that honest?

Like you say, "not to putz around with oanda during NFP" and that's good advice by the look of it, another choice might be to trade with an honest marketmaker because if Oanda can do something as blatant as that then they can probably do anything!

I take it you trade with Oanda, in which case I think you better hang on to that luck you're passing around, you're going to need all you can get
Interesting how the majority of your posts are complaining about brokers. Over a third of them relating to Oanda and a video you found on the internet. Have you had bad luck with trading?
  • #19
  • Edited 3:52pm Jul 14, 2008 3:40pm | Edited 3:52pm
Quoting nvwine
Interesting how the majority of your posts are complaining about brokers. Over a third of them relating to Oanda and a video you found on the internet. Have you had bad luck with trading?
Not since I changed marketmakers (or rather went back to my original choice), no

I think discussing different marketmakers is useful, and highlighting problems that traders have had gives people a heads up of what to look out for.

If you read a reply I posted in another thread I actually recommend Oanda so it's nothing personal against them, I'm just posting facts and my own personal experiences.


~
  • #20
  • Jul 14, 2008 3:46pm Jul 14, 2008 3:46pm
Quoting tdion
hey guys.... this isn't where i wanted the thread to go.
Sorry tdion, my mistake, I got a little carried away! I'll go back to lurking, it's safer
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