For those of you who don't believe in stop hunting | Forex Factory

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Attachments: For those of you who don't believe in stop hunting
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For those of you who don't believe in stop hunting

  • #1
  • First Post: Edited 5:05am May 15, 2012 4:36am | Edited 5:05am
Okays. I use to think stop hunting is bullshit. I never believed in stop hunting. I thought it was just an excuse by amateurs who use market maker brokers...

Now, this is not exactly a case of stop hunting. but there sure is something wrong with the broker...

what happened was this... i entered a sell order of eur/usd at 1.2846 and a buy stop to offset the trade at 1.2858... my stop was triggered though price did not reach the level on the charts... i was perturbed... i went to Oanda live chat to ask for help. this is what i got...

Please wait for an agent to respond.
You are now chatting with
customerservice: Hello. How may I assist you?
ME: hi, my name is ---. my answer to the security question is ---. my account is ---
ME: i would like for you to help me check a trade
ME: i entered a sell order. --- units, eur/usd at 1.2846
ME: and a buy stop at 1.2858
ME: the buy stop was hit at 0500
ME: but the market did not reach that level
ME: did i make a mistake, or is there some kind of error
ME: thank you in advance
customerservice: please provide me with the ticket number
customerservice: may i have your date of birth as well?
ME: ------
ME: 12789290 is the sell order
customerservice: thank you.
ME: and the buy stop is 12789295
customerservice: was it MT4?
ME: yep
customerservice: okay please give me a moment to check up on your trade.
ME: no problem
customerservice: hello thank you for holding
ME: ok
customerservice: you did a sell trade at 1.2846, and a buy stop at 1.2858, both --- lots EUR/USD
ME: yup
customerservice: your buy stop was triggered because the ask price at the time Tuesday, May 15, 2012 5:00:31 PM was at 1.285810
customerservice: as your buy stop had been triggered and OANDA do not allow hedging, your buy trade and your sell trade of --- lots EUR/USD offset each other hence closed.
ME: on mt4, the highest price i saw was 1.2851
ME: so you meant that the spread widened to 7 pips?!
ME: http://imgur.com/UjOGI
customerservice: Hello. How may I assist you?
customerservice: unfortunately the ask at the time was 1.285810

http://i.imgur.com/UjOGI.png
http://i.imgur.com/SZuFQ.png

This is not the first time i have had problem with this broker... on 11may, my sell limit was triggered, but it was not reflected on my mt4 terminal... i only realized it after i saw my margin running pretty low... i went to live chat again. and they told me that hey. it takes time for your trade to be reflected on mt4... by the time it has already been 20 minutes and the trade was still not showing....

just sharing my experience, and hope someone can recommend me a better broker. or if anyone thinks that i have made a mistake somewhere, please do not hesitate to point it out (kindly).... thanks!
  • #2
  • May 15, 2012 6:02am May 15, 2012 6:02am
Quoting eipi
Okays. I use to think stop hunting is bullshit. I never believed in stop hunting. I thought it was just an excuse by amateurs who use market maker brokers...

Now, this is not exactly a case of stop hunting. but there sure is something wrong with the broker...

what happened was this... i entered a sell order of eur/usd at 1.2846 and a buy stop to offset the trade at 1.2858... my stop was triggered though price did not reach the level on the charts... i was perturbed... i went to Oanda live chat to ask for help. this is what i got...

[color=green]Please...
My lmax and MB fx feeds never spiked above 2856 when ZEW hit the wire. HOWEVER, my 6E euro futures feed shot to 2868. So, looks like wanda use the futures to hedge their exposure. Interesting, but not surprising, perhaps. You really should trade on an exchange that is open, accurate and impartial. The price quoted is the one you're trading. And your broker isn't arbitraging on another exchange.
  • #3
  • May 15, 2012 6:05am May 15, 2012 6:05am
I don't know what time your trade was, but at news Oanda regularly increases spreads, so if it was around a news event, the ask could easily have been that high. Also, the chart is a bid chart, so you won't see ask prices there anyway, only bid prices.

Re. stop hunting, it happens every day; is just a fact of life in trading regardless of what broker you use whether they are crooked or not...
  • #4
  • May 15, 2012 6:07am May 15, 2012 6:07am
Strange indeed. Spread was nowhere near 7 on Oanda fxTrade.
http://fxtrade.oanda.co.uk/why/spreads/recent#EUR-USD
:: everything is awesome ::
  • #5
  • May 15, 2012 6:11am May 15, 2012 6:11am
hi guys... seems that stop-hunting is a fact of life?? but 7 pips... thats a bit too much for me ><

do you guys mind sharing with me what brokers you are using now... i have already read through the forum and i am considering mb trading and tradestation... any comments?
  • #6
  • May 15, 2012 6:12am May 15, 2012 6:12am
Quoting Black Fox
Strange indeed. Spread was nowhere near 7 on Oanda fxTrade.
http://fxtrade.oanda.co.uk/why/spreads/recent#EUR-USD
ya! i don't know what happened!!! still trying to wrap my head around it... its pretty strange if you ask me...
  • #7
  • May 15, 2012 9:17am May 15, 2012 9:17am
So we got another "senior" agreeing that brokers do play tricks.

I have seeing posters here on FF being ridiculed over and over for trying to open peoples eyes about brokers tactics.

I experienced it myself. Every time i post about my experience with oanda and their algorithms designed to spike you out, there is always a poster to come and do some damage control.

My conclusion is that if you are ok with bucket shops you are either not making money ( which the brokers love) or working for a broker and being payed to come here and try to damage control things.
  • #8
  • May 15, 2012 9:19am May 15, 2012 9:19am
Quoting QuadrupleX
So we got another "senior" agreeing that brokers do play tricks.

I have seeing posters here on FF being ridiculed over and over for trying to open peoples eyes about brokers tactics.

I experienced it myself. Every time i post about my experience with oanda and their algorithms designed to spike you out, there is always a poster to come and do some damage control.

My conclusion is that if you are ok with bucket shops you are either not making money ( which the brokers love) or working for a broker and being payed to come here and try to damage...
i guess i must have been really lucky that no one has come out and tried to make a foool out of me, YET.... LOOOL...

but on a more seriosu note, what broker are you using now???
  • #9
  • May 15, 2012 9:25am May 15, 2012 9:25am
Quoting eipi
i guess i must have been really lucky that no one has come out and tried to make a foool out of me, YET.... LOOOL...

but on a more seriosu note, what broker are you using now???
Since I'm a fierce critic of some bucket shop brokers here I don't want to be taken as working for their competition so I don't state what broker I'm trading with.

Now if you read my past posts, I did mention it when the conversation wasn't direct against any broker.
  • #10
  • May 18, 2012 1:13pm May 18, 2012 1:13pm
Quoting QuadrupleX
So we got another "senior" agreeing that brokers do play tricks.

I have seeing posters here on FF being ridiculed over and over for trying to open peoples eyes about brokers tactics.

I experienced it myself. Every time i post about my experience with oanda and their algorithms designed to spike you out, there is always a poster to come and do some damage control.

My conclusion is that if you are ok with bucket shops you are either not making money ( which the brokers love) or working for a broker and being payed to come here and try to...
You scalpers and EA users are big pain in the ass!

Why on earth would anyone execute a trade with a 10pip stoploss! For the brokers its more like taking candy from a stupid kid.

Any trade with a stoploss below 100 is minced meat and a generous contribution to market liquidity
The only way not to think about money is to have a great deal of it
  • #11
  • May 18, 2012 2:19pm May 18, 2012 2:19pm
damn you guys still trade with market makers
  • #12
  • May 28, 2012 7:01pm May 28, 2012 7:01pm
Quoting Makavelli7
You scalpers and EA users are big pain in the ass!

Why on earth would anyone execute a trade with a 10pip stoploss! For the brokers its more like taking candy from a stupid kid.

Any trade with a stoploss below 100 is minced meat and a generous contribution to market liquidity
Wow, you must be the moneymaker on this forum.
Whats your next quote gonna be ......"Buy High, Sell Low" ?? or "Its ok to have a negative R/R" ?

Lets take a look at the brokers face when he takes out your 100 pip stop.

Don't get me wrong, aint no scalping fan either but a 100 point stop isn't exactly Low Risk-High probability,.......unless you're shooting for a straight 300-400 point gain. Your broker probably loves you!!
  • #13
  • May 28, 2012 10:20pm May 28, 2012 10:20pm
Quoting PoundTrader
damn you guys still trade with market makers
not for nothing but if you still trade with Citi, they do auto-execution, which is market making. Just because they base their quote feed off the "national" bank, doesn't mean they aren't dealing to you directly as your counter party first before hedging their net exposure with the banks in the back end.

Just saying.
FXGears.com
  • #14
  • May 29, 2012 2:51am May 29, 2012 2:51am
I don't know why would anybody trade with MT4, fxtrade is much better.
  • #15
  • May 29, 2012 3:47am May 29, 2012 3:47am
Previously I had been experiencing this all the time when I play short time frame with tight stop loss with Oanda. I am really piss and it affect me all the time which result me in playing higher tf with more breathing space for SL.

I dont think they are stop hunting, but they do have confusing bid/ask lines. Till now i dont get the facts about 3 different lines of Ask and 3 different lines of Bid. I contacted Oanda few times, they always said add the lines, it will show you your SL are triggered, its true.

So right click on your chart and display those lines, and you will get what I mean.
Attached Image
The only winner is the one who survive the longest...
  • #16
  • May 29, 2012 4:53am May 29, 2012 4:53am
Quoting Jack_Larkin
not for nothing but if you still trade with Citi, they do auto-execution, which is market making. Just because they base their quote feed off the "national" bank, doesn't mean they aren't dealing to you directly as your counter party first before hedging their net exposure with the banks in the back end.

Just saying.
yep im dealing with my LP directly, so they are my market maker. if you know forex then you know citi presence in forex, so there's no way in hell you can compare a market maker broker to a market maker bank are you crazy
  • #17
  • Last Post: May 29, 2012 5:55am May 29, 2012 5:55am
Quoting PoundTrader
yep im dealing with my LP directly, so they are my market maker. if you know forex then you know citi presence in forex, so there's no way in hell you can compare a market maker broker to a market maker bank are you crazy
Jack means well PoundTrader. Just at times he believes he knows it all, which is certainly not the case.
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