Why would a broker sabotage someone with a good strategy? It would be good for the broker if the person keeps on trading and with more money. A broker loses out when a client loses all of their money. A working system that's purely based off what happened in the past doesn't exist. There are HFT trying to make fractions of a cent by trading between 3 currencies. I'm willing to bet that someone out there has a record all every trade/tick for the past 20 years and has tried thousands of algorithms to try to find something that works based off of that.
The only system that works is one based on a long period of time. The less pips, the less ROI you'll get for an unleveraged position. Leverage also will always decrease ROI.
Well, if company is fraud, they will try to turn your life in hell and it doesn't depend on broker )))
To find good broker is as so important as to find a good strategy...
And I'm glad that my broker don't try to cheat me))
{quote} I searched on google too and I found the same graphic BUT the big problem is with the summer / winter clock change . Since I'm GMT +2 , London is supposed to open at 10 AM and NY at 3PM ( 15:00 ) . Is that updated to summer / winter clock or we must figure that out ?
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Your times are right all you need is something like this which gives local times then its easy to figure out.
Retail forex brokers are mostly thieves even the good ones will try to steal/rob you in some ways...I've been in this business for years, and the biggest lesson in forex I learned is NEVER TRADE WITH A RETAIL BROKER!! I don't know why ppl are still trading with retail brokers even though getting a fund solution is cheap nowadays and you can trade directly with a Liquidity Provider enjoying super low spreads and ultra fast execution unlike the shitty retails forex brokers taking the opposite side of your trades or trying to widen their spreads and give you slippage to earn some extra cash from you...People have been praising Alpari, FXCM, FX SOL..etc. All those bucket shops will never let you trade on the interbank markets, and if they do, they will either widen their spreads or slip you to get that extra cash...Trust me guys, you'd never know the meaning of real trading as long as you're still under the mercy of bucket shop retail traders.
Retail forex brokers are mostly thieves even the good ones will try to steal/rob you in some ways...I've been in this business for years, and the biggest lesson in forex I learned is NEVER TRADE WITH A RETAIL BROKER!! I don't know why ppl are still trading with retail brokers even though getting a fund solution is cheap nowadays and you can trade directly with a Liquidity Provider enjoying super low spreads and ultra fast execution unlike the shitty retails forex brokers taking the opposite side of your trades or trying to widen their spreads and...
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How can you directly deal with liquidity providers ? can you please explain more ??
Most brokers factor in that there will be some traders who will ultimately be successful. If you make consistent money the broker will be alerted and they will determine ways in which to manage your account. If there are a reputable broker they will not close your account
Hi Inceptionist, you mentioned some of the "shitty" brokers, please mention some of the good liquidity providers too (preferably US for me) that offer MT4 as one of their platforms? I would appreciate that a lot. Good pips to you!
{quote} How can you directly deal with liquidity providers ? can you please explain more ??
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You can directly deal with a liquidity provider when you get a fund solution; it's a type of solutions/business model specifically designed for the small fund manager or a professional trader who's managing his own funds+ clients' funds... When you get that type of solution, you'll be directly connected to one or several liquidity providers ( depends on what region or country you live in) and you can get a MT4 bridge or API to connect you to the LP trading servers+ You get to choose which country you'd like to start your fund in and get the license from...But don't worry, you won't have to do all that on your own...You can just do like what I've done; I went to a forex consultancy company and they asked me about which services/licenses/ Platforms..etc I'd like to get with my fund solution, so I chose from a wide range of available options and based on my choices they customized a package or a solution for me and I paid for it...2 weeks later they've got everything done for me...They got me the necessary licenses+a business bank account under my name in the country I chose+They connected me to the LP+They set up my MT4 Bridge and it was ready to go!! I'm sorry I won't be able to mention the company's name here on public; I don't wanna break any forum rules or do any marketing...If you'd like, I can let you know all the details in a private message or something.
Hi Inceptionist, you mentioned some of the "shitty" brokers, please mention some of the good liquidity providers too (preferably US for me) that offer MT4 as one of their platforms? I would appreciate that a lot. Good pips to you! {quote}
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As I mentioned in my reply to Hals, choosing a LP depends on what region you live in, there could be more than one LP in your region. I was looking for a LP in the middle east region when I got my fund solution..but the company told me that I can choose from a wide range of LPs all over the world in USA, EU, Asia, Middle East...etc. Best thing to do is to go a forex consultancy company Like what I've done and they will help you with everything and help with starting your own fund solution from A to Z.
If your broker makes money each time you trade, then they want you to continue to trade.
If your broker is taking the opposite position to you, then yes they will do something if you are consistently causing them to loose money. If you are with a reputable and licensed broker, you will move in a different account category and they will try and support you. You trade and are great for their business. You may even be "talent spotted" and asked to join a desk (not very likely, but does happen).
For the typical retail client just starting out, this is not a big deal. You should focus on learning to trade - whether you are paying slightly above the odds spreads or are suffering from slippage is probably not going to make much difference to your results over time. If you get the market direction right, the pips will come.
Successful retail clients can probably afford to seek out more efficient arrangements (tax and trade spreads). See what Inception is talking about above.
I have a question about a system ... It's true that if you have a consistent profitable system at a time brokers will realize and do something against you just to not make money ?
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I have been sabotaged by my broker and changed brokers, slippage would be a factor as well. It really depends who you decide to go with. I have heard of one of my mentors that was trading with a certain company and this is in the retail side. He opened a small account to try them out and he was such a good scalper, that he double his account in about two months, when they found out they pretty much started screwing with his account, he mentioned they would keep his entries on hold, they would make his position lag, very bad slippage. It was horrible. Never did business with them again. What is funny was that it was just a small account ... it was a joke. Anyways, yes it has happened and does happen.
If you have a profitable system, will brokers sabotage you?
