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  • #206,801
  • Mar 4, 2010 3:00pm Mar 4, 2010 3:00pm
I am sure there must be something to it..people would tell me your paranoid when I would say the broker is watching my account right now..most brokers outside the US are not regulated at all no NFA no nothing and there is no law saying they have to give you a certain price. They can and will change the price on you it its to there advantage. You ever wonder about those price spikes that happen out of nowhere for no reason? There is a readon it's your broker taking out the stops.
Now that I have done a few things I really do not have a problem anymore.
I never put in a SL that can be seen. There are many management EA(s) that will close out your trade, put in trailing stops, TP manage slippage etc and do it all at once.All you do is drag it on the chart turn it on for live trading and let it do the work but the other plus is your broker will never see any of your settings. Quite a few good free EA(s) on this forum and other forums.
You still need to come up with all the settings for your trades but how nice it is to sit back and let the EA open,close etc etc.
Dean


Quoting balance
when i enter with 1 lot all is fine i reach my goal , everything is ok , when i enter big time 10 lots... is like my broker is after me , especialy when i enter with stop loss
  • #206,802
  • Mar 4, 2010 3:02pm Mar 4, 2010 3:02pm
Quoting Mr Hatch
i tried something new this week, trading with pre-defined sl.

so, take a look.

I try not to enter TP and SL. i sometimes experience severe price spikes with my broker....weird cos the price would jump 20pips in split seconds and then things would return to normal.

If only trading can be as easy as demo trading lol. I think alot has to do with our trading psycholoy and broker hunting our stops.

But i think psychology is a big problem. If i had to enter all my predetermined entries i would have made 4 times the amount i did this week. but the fear off losing sometimes blocks your common sense.

Sucks hey. But i always feel that tomorrow the market is still going to be there.

My demo account is growing faster than my live one though!!
  • #206,803
  • Mar 4, 2010 3:02pm Mar 4, 2010 3:02pm
How do you trade the NFP?
Thanks
Dean


Quoting balance
tomorrow i'm in for the news , big time , maximum loss 8-9000 , posibile gain...countless
  • #206,804
  • Mar 4, 2010 3:04pm Mar 4, 2010 3:04pm
Quoting dean walker
I am sure there must be something to it..people would tell me your paranoid when I would say the broker is watching my account right now..most brokers outside the US are not regulated at all no NFA no nothing and there is no law saying they have to give you a certain price. They can and will change the price on you it its to there advantage. You ever wonder about those price spikes that happen out of nowhere for no reason? There is a readon it's your broker taking out the stops.
Now that I have done a few things I really do not have a problem...
so, the only possibilty to achieve a similar effect at a broker that doesn't support mt4 would be to place a counter-trade at a given level. wth...
  • #206,805
  • Mar 4, 2010 3:08pm Mar 4, 2010 3:08pm
Quote
U Mean That Tweezer Bottom & Doji !?

Yes honey..those tweezer bottom and doji..i didnt knew it was called tweezer bottom..tweezer bottom is a bullish signal..right?

By the which forex provider you are using for charts? Your charts are impressive and simple to analyse.
  • #206,806
  • Mar 4, 2010 3:09pm Mar 4, 2010 3:09pm
Quoting dean walker
How do you trade the NFP?
Thanks
Dean
depending on the number , if it's green or red , i wait for at least 5 minutes then i go in , anyway i saw something interesting , before major news last minutes before the price tends to go against the direction of the normal market reaction... so this is a clue also

i know my metod of trading into the news is crazy but no broker indiferent how big he is , cannot trade against the hole market
  • #206,807
  • Mar 4, 2010 3:10pm Mar 4, 2010 3:10pm
Quoting dean walker
..most brokers outside the US are not regulated at all no NFA no nothing
You're not serious, are you?
Do not focus on making money; focus on protecting what you have.
  • #206,808
  • Mar 4, 2010 3:10pm Mar 4, 2010 3:10pm
Over halfway to target.
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Every time you use 'hopium' in a post, God kills a kitten.
  • #206,809
  • Mar 4, 2010 3:11pm Mar 4, 2010 3:11pm
Quoting dean walker
You ever wonder about those price spikes that happen out of nowhere for no reason? There is a readon it's your broker taking out the stops.
Dean
Sorry, I can't agree with that. I see those spikes that you speak of, but I have one live account and two demo accounts with 3 different brokers in different countries. I see spikes just the same across all 3 brokers charts.

Brokers (for the most part) make money hand over fist from the 95% of people who attempt this business. There simply is no need to watch every trade that every trader makes, even if they could, just to steal money from their customers....they are already making good money.

The BIG players have the capacity to take out stops where it is obvious that a shit load of stops are placed at any given point, but that is quite a different scenario.

I don't believe that the major and respected brokers have the time or the need to 'spy' on retail traders so that they can pocket 'chump change'.

It might seem that the PA goes against you the moment you place a trade, but there is no conspiracy....it's happened to me as well. It is simply poor timing on the part of the trader.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #206,810
  • Mar 4, 2010 3:14pm Mar 4, 2010 3:14pm
Quoting realjumper
Sorry, I can't agree with that. I see those spikes that you speak of, but I have one live account and two demo accounts with 3 different brokers in different countries. I see spikes just the same across all 3 brokers charts.

Brokers (for the most part) make money hand over fist from the 95% of people who attempt this business. There simply is no need to watch every trade that every trader makes, even if they could, just to steal money from their customers....they are already making good money.

The BIG players have the capacity to take out stops...
my friend , 10.000 is no poket change , and they dont watch every retail trader...there is software for that
  • #206,811
  • Mar 4, 2010 3:15pm Mar 4, 2010 3:15pm
Wel a whole lot of them are not regulated..I am talking big guys like FX Solutions, Alpari UK they have something but it's not the NFA ..
They can do what they want and you really have no legal ground..
Dean


Quoting Why Oh Why
You're not serious, are you?
  • #206,812
  • Mar 4, 2010 3:16pm Mar 4, 2010 3:16pm
Quoting Why Oh Why
You're not serious, are you?
My view is here.
Do not focus on making money; focus on protecting what you have.
  • #206,813
  • Mar 4, 2010 3:17pm Mar 4, 2010 3:17pm
Quoting balance
my friend , 10.000 is no poket change , and they dont watch every retail trader...there is software for that
I realise that there could be software for that, I didn't mean that the physically sit in front of screens all day!! It IS chump change in the bigger sceme of things.

Why would a broker bite off the hand that feeds him?

Edit: Especially when 95 % of people who attempt trading will just give the broker all their money withing 12 months or so.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #206,814
  • Mar 4, 2010 3:19pm Mar 4, 2010 3:19pm
Quoting realjumper
I realise that there could be software for that, I didn't mean that the physically sit in front of screens all day!! It IS chump change in the bigger sceme of things.

Why would a broker bite off the hand that feeds him?
the answer is in your own text

'' bite off the hand that feeds you '' human nature ! greed
  • #206,815
  • Mar 4, 2010 3:22pm Mar 4, 2010 3:22pm
Quoting balance
the answer is in your own text

'' bite off the hand that feeds you '' human nature ! greed
Nope, sorry....I don't buy into that. That's a very cynical view and I just don't see it......from the major brokers that is....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #206,816
  • Mar 4, 2010 3:23pm Mar 4, 2010 3:23pm
Quote
Sorry, I can't agree with that. I see those spikes that you speak of, but I have one live account and two demo accounts with 3 different brokers in different countries. I see spikes just the same across all 3 brokers charts.

Brokers (for the most part) make money hand over fist from the 95% of people who attempt this business. There simply is no need to watch every trade that every trader makes, even if they could, just to steal money from their customers....they are already making good money.

The BIG players have the capacity to take out stops...


I agree with you. I have talked to a CEO of global forex broker.

He says we want our retail clients to go ahead and win against likes of JP Morgan, GS, UBS, Barclays trading floor etc.

There can be mistakes but no way the broker intentionally cheat retail clients.
  • #206,817
  • Mar 4, 2010 3:25pm Mar 4, 2010 3:25pm
Ok everything will be boring until london....cya!
COT: The precious data ignored
  • #206,818
  • Mar 4, 2010 3:27pm Mar 4, 2010 3:27pm
It's possible your correct however strange things happen much to much for my liking.. I just finished a excellent book called..Beat the Forex dealer..it's not hype and when you read it by the trader thta wrote it well it will open up a lot of eyes..

I have 2 demos with2 differnt brokers plus my live accounts with 3 brokers
and I will tell you the price is never the same now of course then will say that is because of the data feed etc I simply do not believe it. A EA helps greatly with this..how many times have you tried to mannually close out a trade in profit only to see a requote hit an don the next trade you lost like 10 pips.

If you look into this deeply you will see Forex and Casinos are set up the same way. It's all the same working with math and numbers to get the odds on your side. Now if your a seasoned and good trader like you for example none of this is really going to hurt you because of the way you trade but get new people in and the brokers have all the weak stops taken care of so a new guy have little chance of getting ahead.
Dean


Quoting realjumper
Sorry, I can't agree with that. I see those spikes that you speak of, but I have one live account and two demo accounts with 3 different brokers in different countries. I see spikes just the same across all 3 brokers charts.

Brokers (for the most part) make money hand over fist from the 95% of people who attempt this business. There simply is no need to watch every trade that every trader makes, even if they could, just to steal money from their customers....they are already making good money.

The BIG players have the capacity to take out stops...
  • #206,819
  • Mar 4, 2010 3:29pm Mar 4, 2010 3:29pm
Quoting dean walker
Well a whole lot of them are not regulated..I am talking big guys like FX Solutions, Alpari UK they have something but it's not the NFA. They can do what they want and you really have no legal ground
No Dean. They can't. Alpari UK is FSA regulated, FXSol I don't know.

FXDD is opening an office where I live - Malta - and if they share your opinion as with others here then I can assure you the MFSA will close them down eventually. And the same goes in the UK where I'm from originally.
Do not focus on making money; focus on protecting what you have.
  • #206,820
  • Mar 4, 2010 3:29pm Mar 4, 2010 3:29pm
Quoting kingfisher
I agree with you. I have talked to a CEO of global forex broker.

He says we want our retail clients to go ahead and win against likes of JP Morgan, GS, UBS, Barclays trading floor etc.

There can be mistakes but no way the broker intentionally cheat retail clients.
This is rather enlightening...

http://www.forexfactory.com/showthread.php?t=5809
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