Quoting pfredricksDislikedHello all!
I am so thankful that i found this forum.
I began trading the forex about two months ago. I was highly successful on my demo account. Then, i went live. Whew, what a difference. I thought that i must be going crazy because i made about twenty trades and they all deflected away from where i predicted. Then i got stopped out twice within 1 pip on two different occasions-and i had puposefully set my stops very wide. It was amazing. The candlesticks marched right down to my stop then shot right back up in ways which did not occur on other brokers charts. It was so blatant that i started researching and ended up here. I just want to reaffirm what you are reporting with stop hunting and manipulation. It is awful. I am pretty much convinced that scalping cannot work in this environment and trading with stops is a death sentence. It's sort of like playing poker and showing everyone at the table your hand, but you cant see theirs.
Now, i am curious about ways to fight it.
For example- could we
Put in a larger limit buy order 1 pip above the stop? So the MM would actually risk loosing more by hunting/triggering the stop
Going long with no stops at all
What is the solution for those of you who know what i am talking about exists? With good analysis it would seem like a pretty good way to go.
The data cannot be manipulated as much in the long term gameIgnored
On another note, I use an expert in MetaTrader to handle my stops. That way, I don't need to add the stop to an order where everyone can see it, but, I run the risk of getting into a bad situation if my computer crashes. There is always a trade off with whatever you choose to do to get around the stoploss issue.