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Honestly frustrated with trading forex

  • #121
  • Sep 21, 2015 7:01am Sep 21, 2015 7:01am
Wrong comment about Hotforex.Guys Hotforex will not trade against you.You loose your money when you trade against your self because of shallow and vague knowledge about the market movement.No matter how good and honest a broker may be a bad trader will always loose unless he or she goes back to the drawing board, demo trade and learn very well price action of the market .Nothing luck but much more of higher probability trading and a good money management
  • #122
  • Sep 21, 2015 8:40am Sep 21, 2015 8:40am
Quoting davood13
{quote} excuse me. my english isn't good but i have a question.i work with hot forex broker. and during FOMC and some important news last week , there is no stop - hunter or price manipulation on my demo account. here is my question: price on demo server and real is the same? i mean if i work with broker with demo acc and i realize that there is no price manipulation on demo , can i open a real account with them?thank u in advance
NO Demo is NOT the same as in real trading. They might use the same server for price data for demo and real trading BUT the execution of your trades in demo could be COMPLETELY different, depending whether the broker is good or bad. In demo, all of your trades are executed instantly, very fast as soon as you entered them which is also what would a good broker do in real account but with a bad broker, execution of trades in real trading can be very bad as they will potentially delay the execution of your trades, give you bad prices for your trades, a price that's very different from what you saw before and wanted to get and they will even reject your trade on purpose so you would lose. Because bad or scam brokers, they trade against you so when you lose, they make money.

And there is also no stop-hunting or price manipulation in demo of course because you are not investing your real money, so they don't care to stop hunt you. But with a bad broker, there would be stop-hunting and price manipulations. Like I said, they win when you lose because they trade against you.

So demo is ONLY used to test your trading strategy; you won't find out whether your broker is good or bad until you open a real account with them. So if in your demo account, you are making money consistently but all of sudden when you open real account, you are not making money when you should, then it's the broker's problem.
Good luck!
Make your losses in demo. Earn your profits live.
  • #123
  • Sep 21, 2015 8:49am Sep 21, 2015 8:49am
Quoting aje6767
Wrong comment about Hotforex.Guys Hotforex will not trade against you.You loose your money when you trade against your self because of shallow and vague knowledge about the market movement.No matter how good and honest a broker may be a bad trader will always loose unless he or she goes back to the drawing board, demo trade and learn very well price action of the market .Nothing luck but much more of higher probability trading and a good money management
There is a VERY SIMPLE test to determine if the loss is due to broker or trading strategy. If your trading strategy was consistently making money in backtesting AND in real time testing and all of sudden when you trade in real trading, you are not making money anymore, and when you see clearly if your strategy had been carried out perfectly just like in demo, you should be making money but you are not anymore in real trading, then it's clearly a broker issue. To keep staying with the broker is just cheating to yourself out of all the potential profit that you could be making but are instead being pocketed by the broker.

But if your trading strategy was not profitable at all in demo then yes, it won't be profitable in real trading either and that would not be broker's fault.

So what you can also do, and this is allowed by majority of the brokers, is to demo and real trading at the same time and watch how your strategy is being executed. If you see your strategy is being played out fine in demo with stops and tp's all correctly executed and no execution delays or rejections or requotes and yet at the same time your same strategy in real account is constantly stop-hunted, tp targets not executed when the price was clearly touched, execution of your trades are constantly delayed, rejected or requoted, and the spread is all different from what's on the demo then clearly the broker is manipulating trades and prices against you. And you know whether your broker is honest or a scam.

No point arguing about it here. Trading results from demo and real accounts speak for itself.
Make your losses in demo. Earn your profits live.
  • #124
  • Sep 21, 2015 9:33am Sep 21, 2015 9:33am
Quoting Forexia
{quote} NO Demo is NOT the same as in real trading. They might use the same server for price data for demo and real trading BUT the execution of your trades in demo could be COMPLETELY different, depending whether the broker is good or bad. In demo, all of your trades are executed instantly, very fast as soon as you entered them which is also what would a good broker do in real account but with a bad broker, execution of trades in real trading can be very bad as they will potentially delay the execution of your trades, give you bad prices for your...
sorry for bothering you.can you tell me gap during news is price manipulating or not?
my chart GBPUSD M30 Wed 16 Sep (average earning index 3m/y and claiment count change)
Attached Image (click to enlarge)
Click to Enlarge Name: forexfactory price manipulation.png Size: 32 KB
And falling's just another way to fly...
  • #125
  • Sep 21, 2015 10:27am Sep 21, 2015 10:27am
Quoting davood13
{quote} sorry for bothering you.can you tell me gap during news is price manipulating or not? my chart GBPUSD M30 Wed 16 Sep (average earning index 3m/y and claiment count change) {image}
During high volatility news events like Claiment Court Changes in UK, there will be extreme price bars reflecting the volatile nature. Whether or how the gap is formed depends on the liquidity and how the price was formed and the timeframe of the price. The gap itself would not necessarily be an indication of any price manipulations although price manipulation might still exist.
Make your losses in demo. Earn your profits live.
  • #126
  • Sep 21, 2015 3:06pm Sep 21, 2015 3:06pm
Hi all friends,

Talking about broker, it is safer to have FCA (UK) regulated and ECN.
Talking about pairs, please avoid swissy. trade EU, GU, AU, UJ, EJ and GJ. Its enough giving you money.

Find out your personality, intraday trader, medium trader or long term trader. if you dont know, look for a suitable/skillful mentor.

Find out your 'THE ONE THING' that you are skillful at in entry and exit.

Hope useful.
  • #127
  • Sep 21, 2015 3:24pm Sep 21, 2015 3:24pm
Quoting davood13
{quote} sorry for bothering you.can you tell me gap during news is price manipulating or not? my chart GBPUSD M30 Wed 16 Sep (average earning index 3m/y and claiment count change) {image}
6 big banks own 60 % of forex volumes, (you can google the exact figure)...they constantly manipulate the market, to satisfy their needs for liquidity...
They will induce buying, trigger retails systems to go long, stop run them all, and drop...and viceversa,
...day in day out...

One needs to learn how the big market movers play their cards..

An easy way to start: look at the obvious places were retailers would place a stop in a 5 minutes chart...observe how stops are run, open your eyes...above swings , below...every majour move starts mostly with a stop run: "liquidity pools"..(it happens even in the weekly chart)

Big Boys hide, but retailers (you and me) are easy to read...the big boys can see the stop orders piled...they can, and do, through in and out hundreds of millions to manipulate to their convenience and profit...

If you don´t believe this simple fact, youré in for a surprise...

Learning to trade around these swings is the key...
  • #128
  • Sep 21, 2015 4:12pm Sep 21, 2015 4:12pm
Quoting cuchuflito
{quote} 6 big banks own 60 % of forex volumes, (you can google the exact figure)...they constantly manipulate the market, to satisfy their needs for liquidity... They will induce buying, trigger retails systems to go long, stop run them all, and drop...and viceversa, ...day in day out... One needs to learn how the big market movers play their cards.. An easy way to start: look at the obvious places were retailers would place a stop in a 5 minutes chart...observe how stops are run, open your eyes...above swings , below...every majour move starts...
Thank you so much... your tips and advice is helpful , i appreciate that
And falling's just another way to fly...
  • #129
  • Sep 21, 2015 4:57pm Sep 21, 2015 4:57pm
Quoting Forexia
{quote} Well you have taken my post out of context a little bit as my post was in response to someone else's previous post advocating trading long term and in small positions just to ensure the broker won't stop-hunt them but True. I agree. Short-term and scalping aren't the only ways to be profitable in forex trading BUT one shouldn't be choosing to take small or micro positions and hold them for long term JUST to avoid being stop-hunted and/or any other price manipulations by the broker to make money. You shouldn't have to change your trading...
Sorry, didn't mean to take out of context. I agree with above.
Hope for the best, prepare for the worst.
  • #130
  • Sep 22, 2015 1:09am Sep 22, 2015 1:09am
Quoting davood13
{quote} excuse me. my english isn't good but i have a question.i work with hot forex broker. and during FOMC and some important news last week , there is no stop - hunter or price manipulation on my demo account. here is my question: price on demo server and real is the same? i mean if i work with broker with demo acc and i realize that there is no price manipulation on demo , can i open a real account with them?thank u in advance
Yes HF demo trading conditions mirrors live. 2 years ago when I joined them I run a trial of their demo vs real trading platform and except some disrepancies in execution all other features like spread widening, candle tails were the same.
  • #131
  • Sep 22, 2015 3:21am Sep 22, 2015 3:21am
Quoting leebsurag
{quote} Yes HF demo trading conditions mirrors live. 2 years ago when I joined them I run a trial of their demo vs real trading platform and except some disrepancies in execution all other features like spread widening, candle tails were the same.
that was helpful my friend , thank you
And falling's just another way to fly...
  • #132
  • Sep 22, 2015 3:29am Sep 22, 2015 3:29am
Quoting Forexia
{quote} Assuming your Trading Explorer is real, you shouldn't have been trading with HotForex. It's one of the scam broker out there. They trade against you to profit from your losses. The market is unpredictable true and you might have not stuck with your plan 100% but it's MOSTLY because the broker was manipulating the price/trades to make you lose so they can win your money. So don't feel bad. We have ALL been there. 90% of us (including myself) started trading with a scam broker. There have been a lot of discussion regarding this broker in the...
What does the broker have to do with you placing xyz ORDER and not closing it when you originally planned? The broker doesnt make you overleverage or have bias towards a position.The only person to blame here is the trader and no one else. If a trader begins to blame the broker for his buy order going 800 pips against him, then this forex battle will be lost more times then none.
  • #133
  • Sep 22, 2015 3:40am Sep 22, 2015 3:40am
Quoting Forexia
{quote} There is a VERY SIMPLE test to determine if the loss is due to broker or trading strategy. If your trading strategy was consistently making money in backtesting AND in real time testing and all of sudden when you trade in real trading, you are not making money anymore, and when you see clearly if your strategy had been carried out perfectly just like in demo, you should be making money but you are not anymore in real trading, then it's clearly a broker issue. To keep staying with the broker is just cheating to yourself out of all the potential...
The only valid point which you make is testing live and demo at the same time. The sad reality is that the demo and live feed for most brokers arent the same. Especially during high impact news. Execution will be different more then likely, but a person holding on to losers has nothing to do with the broker, instead with the trader. I trade with a broker called tradersway and their demo feed is perfect compared to their live feed, but only during high impact news.... so what do I do? Simply not trade during high impact news..
Although execution can make or break your account, the reality is you should be baby sitting your EA in order to make sure that the order which was placed is the one that should of been placed to begin with.
  • #134
  • Sep 22, 2015 4:12am Sep 22, 2015 4:12am
It's always sad to read this kind of message. I'm a trading tools developer and not a trader but me too I wanted to try. I have a lot of knowledge about the market but it didn't helped me. Like you I'm undisciplined and cannot follow the rules and trading plans. I always follow my feelings. The worst thing to do...

Now I recovered by trading only with EA. Even now it's better for me I always have the desire to do some manual trading. It's very close to gambling.
Algorithm is life
  • #135
  • Sep 22, 2015 4:17am Sep 22, 2015 4:17am
Quoting CrazyCoder
It's always sad to read this kind of message. I'm a trading tools developer and not a trader but me too I wanted to try. I have a lot of knowledge about the market but it didn't helped me. Like you I'm undisciplined and cannot follow the rules and trading plans. I always follow my feelings. The worst thing to do... Now I recovered by trading only with EA. Even now it's better for me I always have the desire to do some manual trading. It's very close to gambling.
gam·ble verb

 

  1. 1.
    play games of chance for money; bet.
    "she was fond of gambling on cards and horses"
    synonyms:bet, place/lay a bet on something, stake money on something, back the horses, game;informalplay the ponies
    "he started to gamble more often"
  2. 2.
    take risky action in the hope of a desired result.

In other words.. Everyone who takes a wager in forex is gambling!

  • #136
  • Sep 22, 2015 6:17am Sep 22, 2015 6:17am
Quoting WhyDrawdown
Everyone who takes a wager in forex is gambling!
It's true but it exists a huge difference between doing coin flip or doing an analysis with money management...
Algorithm is life
  • #137
  • Sep 22, 2015 7:07am Sep 22, 2015 7:07am
Quoting WhyDrawdown
The sad reality is that the demo and live feed for most brokers arent the same. Especially during high impact news.
Yes they are. Majority of the brokers use the same price feed for the demo server as well as the live price server. There might be difference during high impact news events when liquidity is extremely impacted like during the SNB crisis but 99% of the time, you should get the same price on demo and live. If you are not even able to get reliable prices in demo for you to test your trading strategy, you shouldn't even consider that broker.

Quoting WhyDrawdown
Execution will be different more then likely
Well that is the whole point of the test. Like I said before, execution in demo will always be perfect and instant but if the broker is honest, the execution in live trading should also be instant. If it's not and especially significantly different, then it's time to change your broker. Regardless how good your strategy is, if your trades aren't executed at the price when it's optimum or closed when the price is favourable, you WILL lose money and that's broker's fault.
Make your losses in demo. Earn your profits live.
  • #138
  • Sep 22, 2015 7:13am Sep 22, 2015 7:13am
Quoting WhyDrawdown
{quote} gamble verb 2. take risky action in the hope of a desired result.
According to this definition, everything in life is gambling, even crossing the street and driving and even sleeping and having sex. Do you know what is the statistics for car accidents and getting hit while crossing the street? Do you know how often people have died in their sleep or having sex? They definitely should qualify as "risky action". In fact, just living is gambling. We should just all die. But then again even dying is gambling because there is still a chance that you won't die. So there is nothing that you can do. LOL
Make your losses in demo. Earn your profits live.
  • #139
  • Sep 22, 2015 7:30am Sep 22, 2015 7:30am
Quoting cuchuflito
{quote} One needs to learn how the big market movers play their cards..
Quoting cuchuflito
Learning to trade around these swings is the key...
Well said
  • #140
  • Sep 22, 2015 7:42am Sep 22, 2015 7:42am
Quoting Forexia
{quote} everything in life is gambling, even crossing the street
Actually, crossing the street is a really good example. We step to the kerb, look left, look right, look left again, and once we satisfy ourselves that the road is clear, we initiate the action of walking, which we gauge (or let's say "predict" ) with a degree of probability will result in us safely reaching the other side of the road.

Most sensible people are so used to and practiced in the "art" of crossing the road that their actions to do so are performed with unconscious competence. I'd suggest that the only difference between crossing the road and trading is the terrain. Once a person understands the terrain of the market he can begin the process of learning how to cross (or trade) from one side to the other.
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