To Good To Be True, FxStreet? | Forex Factory

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To Good To Be True, FxStreet?

  • #1
  • First Post: Mar 13, 2013 12:40pm Mar 13, 2013 12:40pm
Hey,

I just got an email from Fxstreet as a subscriber who have introduced a new service for traders to actually view orders by the banks? Personally, this goes against my belief and many successful traders that the bankers are out to catch the retailers stops. Yes, they trade against each other as well, however why would they publish data so many banks compete for prices and letting the general trading public know this information? Some of there entry prices are quite good. Is the market now ever more transparent than before that traders big n small are sharing information? Always thought it was a competition strongest vs weakest?

Here's the website:-

http://www.fxstreet.com/technical/trading-positions/


Thanks.
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  • #2
  • Mar 13, 2013 3:27pm Mar 13, 2013 3:27pm
There was a thread about this a while back. I think it was this same website. I think the conclusion was too good to be true.


You are likely right on that as well. Banks wouldn't want others to front run their orders to piggy back the move and ruin their liquidity. Banks buy into retail long stop losses, and sell into retail short stop losses.
"Trade Small, Trade Often."
  • #3
  • Mar 13, 2013 3:53pm Mar 13, 2013 3:53pm
quite a few of those listed publish their plans along with the win/loss trade results...... mig bank posts quite often here..... and are quite open with their trades.......h
to trade and code, keep both simple... no call to impress....h
  • #4
  • Mar 13, 2013 4:43pm Mar 13, 2013 4:43pm
There's no way a bank is going to publish their pending orders. That would allow for others to frontrun their positions as well as have competitors exploit them by giving them a nearly exact amount they'd need to push before they could hit the stops. Way too good to be true.
  • #5
  • Mar 13, 2013 4:45pm Mar 13, 2013 4:45pm
Quoting Kanzler
There's no way a bank is going to publish their pending orders. That would allow for others to frontrun their positions as well as have competitors exploit them by giving them a nearly exact amount they'd need to push before they could hit the stops. Way too good to be true.
Simply NOT true. Banks could care less about retail traders
Retail brokers care about retail traders
When the Joker is in the deck.. fear not and play it well
  • #6
  • Mar 13, 2013 4:49pm Mar 13, 2013 4:49pm
Quoting Slim Buffett
Simply NOT true. Banks could care less about retail traders
Retail brokers care about retail traders
Banks couldn't care less about retail traders but I guarantee you they worry about other banks.
  • #7
  • Mar 13, 2013 4:51pm Mar 13, 2013 4:51pm
Quoting TheBeastFX
Banks buy into retail long stop losses, and sell into retail short stop losses.
Have you worked for a bank and therefore have proof of this statement? If so, did your superiors say in effect "hunt down the retail traders" and if that is so how could they take out all the SL's of millions of retail traders?

I mean.... really, explain in further detail so that I can understand how you know.
When the Joker is in the deck.. fear not and play it well
  • #8
  • Mar 13, 2013 4:52pm Mar 13, 2013 4:52pm
Quoting Kanzler
Banks couldn't care less about retail traders but I guarantee you they worry about other banks.
That had nothing to do with your original statement

Don't get "twisty" on me now !!!!
When the Joker is in the deck.. fear not and play it well
  • #9
  • Mar 13, 2013 4:54pm Mar 13, 2013 4:54pm
Quoting Kanzler
There's no way a bank is going to publish their pending orders.

It's already been proven that they do

seems to me


what's your way out now ??
When the Joker is in the deck.. fear not and play it well
  • #10
  • Mar 13, 2013 5:17pm Mar 13, 2013 5:17pm
Quoting Slim Buffett
It's already been proven that they do

seems to me


what's your way out now ??
Have an example?
  • #11
  • Mar 13, 2013 5:38pm Mar 13, 2013 5:38pm
Quoting Kanzler
Have an example?

ummmm.... you could start here

Quoting hayseed
quite a few of those listed publish their plans along with the win/loss trade results...... mig bank posts quite often here..... and are quite open with their trades.......h
and then just be sensible

ego tripping is cool and all but.........
When the Joker is in the deck.. fear not and play it well
  • #12
  • Mar 13, 2013 6:07pm Mar 13, 2013 6:07pm
Quoting Kanzler
There's no way a bank is going to publish their pending orders. That would allow for others to frontrun their positions as well as have competitors exploit them by giving them a nearly exact amount they'd need to push before they could hit the stops. Way too good to be true.
//----

some banks/large spec's post their trades, their success's and their not so success's all the time..... and yes, doing so would allow others to 'frontrun' their orders...... but would frontrunning a limit order be an explict value..... and yes, it would allow competitors to target stops..... but what competitor has or is willing to risk the money required.... occasionally a few will give the actual size of the trade..... not sure if that practice is wise though......

some of those guys are very good at their entrys and exits, ie mig bank...... posting their views might be an added benefit......h
to trade and code, keep both simple... no call to impress....h
  • #13
  • Mar 13, 2013 6:21pm Mar 13, 2013 6:21pm
I met a trader once who knew someone who worked for a swiss bank that trades currencies and they do hunt for stop be it other banks but retailers get caught in between if they are not careful.

Just found this fxstreet plan to get more contributers!

http://about.fxstreet.com/current-trading-positions/

Webinar

http://www.fxstreet.com/webinars/ses...1-6424607ef4d6
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  • #14
  • Mar 13, 2013 7:19pm Mar 13, 2013 7:19pm
Quoting Slim Buffett
ummmm.... you could start here



and then just be sensible

ego tripping is cool and all but.........
I have no ego to build here but I think the question should be asked "why". Why would a bank freely offer such information when doing so offers no benefits to the bank but potentially puts them at a heightened risk? It doesn't make any sense to me.
  • #15
  • Mar 14, 2013 4:41am Mar 14, 2013 4:41am
Quoting Kanzler
... I think the question should be asked "why". Why would a bank freely offer such information when doing so offers no benefits to the bank but potentially puts them at a heightened risk? It doesn't make any sense to me.
This.
A friend/trading mentor of mine trades currencies for a large financial institution. I told him about Forex Factory and his reaction kind of told me that if he publicized any of the information being talked about here he would instantly be fired.
si hoc legere scis nimium eruditionis habes
  • #16
  • Mar 14, 2013 5:16am Mar 14, 2013 5:16am
Quoting numbnuts
This.
A friend/trading mentor of mine trades currencies for a large financial institution. I told him about Forex Factory and his reaction kind of told me that if he publicized any of the information being talked about here he would instantly be fired.
Normally these traders sign NDAs with the banks/institutions prior to get the contract. So they are not allowed to disclose anything.
  • #17
  • Mar 14, 2013 7:01am Mar 14, 2013 7:01am
Quoting numbnuts
This.
A friend/trading mentor of mine trades currencies for a large financial institution. I told him about Forex Factory and his reaction kind of told me that if he publicized any of the information being talked about here he would instantly be fired.
//---

no doubt there are many such firms with many such very strict rules.... if the employee had been properly covered on what can and can not be disclosed, the firing in that case might be justified....

goldman, loyds, morgan, normua, and such should have departments that approve any trade disclosure..... there is not a week goes by some bank or large spec does not publish it's latest forex trade ideas......

has anybody kept track of nomura's..... hmmmmm..... but in any event, makes me wonder if we wouldn't be better off trading for ourselves......h

//---
http://www.nasdaq.com/article/forex-...omura-cm154570

http://www.forexfactory.com/news.php?do=news&id=405556

http://www.cnbc.com/id/41156787

http://www.forexfactory.com/news.php?do=news&id=404595

http://www.forexfactory.com/news.php?do=news&id=388826

http://www.zerohedge.com/article/gol...recommendation
to trade and code, keep both simple... no call to impress....h
  • #18
  • Mar 22, 2013 5:22am Mar 22, 2013 5:22am
Hi guys,

I´m a forum lurker but wanted to add here. I have seen this feature too, but I took it a different way.

If you look, I think Danske Bank are the only "Bank" who contribute. MIG bank are a retail broker (I think they are called a bank for regulatory reasons only), and the rest look like advisory firms who sell signals.... so for most of them, they make money off providing a good reliable service.

Also, another thing I took from it... this gives a nice visual of where "Banks" and signal providers are clustered, so if you are worried about companies tricking retail into taking positions that they can front run, I would contend that you can apply Keynes´ motion of successful investing relying on the ability to anticipate the anticipation of others...

What I mean is that, if someone wants to front run you with real paper, and they give you some proxy positions, take a step back and think like them... If your own strategy matches the signals, you can think "whats the catch? what have I missed here?" Also, you can directly compare which firms are in the money and which are duds, without having to look across numerous websites.

In short, I see this like a market profile of where people are trying to front run me. I think that being able to see across institutions and look for clusters in recommended positions, is quite a useful risk management technique, no?

Anyway, thats just my 2pips,

Safe trading folks
  • #19
  • Mar 24, 2013 8:54am Mar 24, 2013 8:54am
I don't know with your country, but in my country it is impossible to get data from the bank. If banks in your country can give data very easily that is amazing
  • #20
  • Mar 26, 2013 3:34am Mar 26, 2013 3:34am
Is this good??
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