Hello, I finally figured out today why I have been losing at forex trading so badly for the last two months after previously trading quite successfully. Looks like IB has been manipulating my charts by up to 10 pips against me while in a live trade, after doing a cross chart check. Can anyone please post a 15 minute chart here of todays aud.usd chart with non-farm news spikes? I would like to compare all the spikes on my chart to another price feed which is hopefully reliable? IB has stolen approx 14 000 Euro in two months.
- #7
- Apr 7, 2012 3:02pm Apr 7, 2012 3:02pm
Also why did forex factory edit the title of my post from "Interactive Brokers Manipulation" to "Broker Manipulation"??? So now I have to deal with forex factory manipulation also???? This is why I created a second post with original title again which was deleted. Seriously what's forex factory's relationship with interactive brokers?
- #11
- Edited 9:03pm Apr 7, 2012 8:52pm | Edited 9:03pm
- | Membership Revoked | Joined Jun 2010 | 1,246 Posts
Did you think this place is a charity event? Come on, look around.. all these broker advertisements makes it obvious whats going on
you ever heard of NEVER BITE THE HAND THAT FEEDS YOU. FF IS A JOKE, THE PEOPLE HAS NO VOICE.
Here is an attached chart from IB. Similar to the one posted, but much different spikes from other data feed.
You do realize brökers don't all use the same banks/liquidity providers and so prices can differ at times?
The spikes you have experienced could have easily been, for example, stop hunts by big players from some of the banks your bröker gets liquidity from. This is normal and it does happen in all kinds of markets. And no, they are not attacking your stops specifically but rather clusters of stops where yours happens to be in (or on the way to).
Oh and it's easier for them to do when there is low liquidity. This is probably why you experienced this during "dead market".
Other times the spikes have nothing to do with said stop-hunting but other market activity and you were just unlucky. Spikes happen, that's the nature of market microstructure. You have to consider all possibilities even during seemingly dead markets. This is why learning how to trade is not the only thing that's important but also learning how the market and liquidity works and what kind of activities go on behind the scenes.
they want your money and nothing else.
This is not some computer game where the money magically come out of nowhere when price moves in your favor. This is a zero-sum game, a war where you only win when other traders lose.
Your ECN bröker couldn't care less whether you win or lose. The big players do, they need you to lose (technically speaking: they need the liquidity you expose to the market) and so they'll try to eat other players' stops like cookies, and they'll do it whenever they could just so they can get filled at a good price.
- #14
- Apr 8, 2012 3:30am Apr 8, 2012 3:30am
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
Anyway i'm not talking about spikes on the chart, although they were way off my alternative data feed. I could care less about these scam spikes.
What I was concerned about was why IB's feed was approx 8 - 10 pips off the alternative data feed on the only trade that I was live in, aud.usd? In a dead market!
By saying IB were 8-10 pips off only during your Aud/Usd trade suggests you think they operate some kind of individual quote model, is that what you're saying?
And as for IB's quotes, they sent me a document approx 2 months ago when my losing streak started forcing me to sign, which was a disclosure that stated that IB doesn't pass on trades to market and you are trading against IB. If I find it i'll attach it.
- #16
- Apr 8, 2012 4:41am Apr 8, 2012 4:41am
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
Hi pipmutt. Yes that's what i'm saying. I believe they are individually targeting my account
Why did IB send me this statement 2 months ago when I had been trading forex with them for almost 2 years and have had my account with them for 7 years?
Bottom line is, justifiably or not, you've lost confidence in them as a brøker. There's nothing worse than losing focus on your trading because of some external reason (suspected brøker interference, platform errors, connection problems etc etc). I know from personal experience it's tempting to try and get the money back (don't get mad, get even) but it's not worth the time, energy, or frustration and it rarely works out. Maybe it's just time to move on and put it down to experience? The grass isn't always greener though, sometimes it's better the devil you know than the devil you don't!