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  • #701
  • Mar 21, 2016 4:47am Mar 21, 2016 4:47am
Quoting jen101
{quote} You seem very insistent that I am seeking revenge because I'm a loser. For the record, I am a woman and I don't suffer from bruised ego issues. I really don't care. If it bothers you that much, I'll join you on the loser's podium, but really I have no problem with winners or losers... I simply said there are an infinite ways to make money in this world and there are much safer and easier ways to do that than trading Forex. There seem to be more sharks in this game than in other businesses I have been involved in. You should still open your...
Where is your proof that brokers manipulate markets?
Price-Action Extremist
  • #702
  • Mar 21, 2016 4:57am Mar 21, 2016 4:57am
Quoting bagman
{quote} Where is your proof that brokers manipulate markets?
Just take a walk around on any Forex Expo...

The choice of available MT4 "virtual dealer plug-ins" (i.e. parasite software) and the fact that the companies making these "plug-ins" for the brokers are thriving, give the answer.
  • #703
  • Mar 21, 2016 5:04am Mar 21, 2016 5:04am
Trading by market makers is not done randomly....So how come that is difficult to follow market. Why so many people failed in trading? indicators doesn't help but why?
  • #704
  • Mar 21, 2016 5:05am Mar 21, 2016 5:05am
Quoting MasterGuru
{quote} Just take a walk around on any Forex Expo... The choice of available MT4 "virtual dealer plug-ins" (i.e. parasite software) and the fact that the companies making these "plug-ins" for the brokers are thriving, give the answer.
1. What does that plugin do exactly?
2. Why are you with a broker that uses it, if it actually exists?
Price-Action Extremist
  • #705
  • Mar 21, 2016 5:32am Mar 21, 2016 5:32am
Quoting bagman
{quote} Where is your proof that brokers manipulate markets?
This is just one example. I'm sure there are plenty of people with worse stories to tell.

http://www.forexfactory.com/showthread.php?t=577270
  • #706
  • Mar 21, 2016 5:37am Mar 21, 2016 5:37am
Quoting accuratefx16
{quote} you are absolutely right. This is true. Also, you fail to mention that they send virus and threat to slow down your computer and frustrate you if they see you are outsmarting them. This is all programmed as a game to make trader lose. but, having a good system will give you both winning in demo and real accounts. this I have proved. checkout my explorer!
I didn't know about that.

Quoting mrhigurashi
{quote} Yes. No business is safe and you always have to watch your back. The problem with Forex is its done right in front of your nose while the broker is there laughing all the way to the bank. It really does share many similarities with a casino.
This is a cat and mouse game. Each are thinking of new ways to outsmart the other.
  • #707
  • Mar 21, 2016 6:01am Mar 21, 2016 6:01am
if we are all worried me included about brokers being con artist's is there not a thread were people give advice about good brokers failing that does anyone want to start one with me.
  • #708
  • Mar 21, 2016 6:55am Mar 21, 2016 6:55am
Quoting jen101
{quote} This is just one example. I'm sure there are plenty of people with worse stories to tell. http://www.forexfactory.com/showthread.php?t=577270
Never had this happen with my broker. I am with the large market maker demons.

Quote
send virus and threat to slow down your computer and frustrate you if they see you are outsmarting them
lol

Quote
if we are all worried me included about brokers being con artist's is there not a thread were people give advice about good brokers failing that does anyone want to start one with me.

That is the issue with forex haters, they spread paranoid fear so if a new trader gets run over on NFP because the spread widens then instead of learning from the mistakes he made, he keeps blaming the market because it is supposedly rigged and then eventually becomes a burned out cynical wreck haunting forex forums.
If there is a legit case of fraud the regulators would be on it. Causing fear with unsupported facts is only making the newbies panic and that is causing more damage to new traders than supposed market rigging. And I think while some have misguided but good intentions, some forex haters do it with malicious intent. Tell a newb he can't win because the market does not want him to so he never figures out how to trade himself, therefore effectively sabotaging potential competition.
Price-Action Extremist
  • #709
  • Mar 21, 2016 7:11am Mar 21, 2016 7:11am
Quoting jen101
{quote} I have been watching this argument for a while and I think Mingary has a point. Now before you all shout loser at me, we should stand back at look at the facts. Retail traders are bottom of the food chain, fact. Most brokers are MM who earn when the retail trader loses, fact. They can purchase specially written algorithms to rig their prices, fact - in order to screw the retail trader (February ICE Expo, London Excel; that software was being marketed there). The real odds are far, far less than 50/50; the spread and commission are the only...


http://www.financemagnates.com/forex...roved-trading/
Price-Action Extremist
  • #710
  • Mar 21, 2016 7:11am Mar 21, 2016 7:11am
Quoting bagman
{quote} Never had this happen with my broker. I am with the large market maker demons. {quote} lol {quote} That is the issue with forex haters, they spread paranoid fear so if a new trader gets run over on NFP because the spread widens then instead of learning from the mistakes he made, he keeps blaming the market because it is supposedly rigged and then eventually becomes a burned out cynical wreck haunting forex forums. If there is a legit case of fraud the regulators would be on it. Causing fear with unsupported facts is only making the newbies...
Open a live account with RoboForex. Compare it side by side to your current broker, Oanda. You will see.

Oanda are US regulated. They will be spot on. Not all regulators are the same!

I'm not telling newbies they can't win. No one has to listen... "sabotaging potential competition" It's a 5 trillion dollar a day market!
  • #711
  • Mar 21, 2016 7:15am Mar 21, 2016 7:15am
Quoting bagman
{quote} 1. What does that plugin do exactly? 2. Why are you with a broker that uses it, if it actually exists?
Just Google it... And you shall find...

"This powerful piece of forex broker manipulation software allows them to do virtually anything to your trades before, during and after they have been set in motion. Some of the nasty things this plug-in is capable of doing are:

  1. Widening spreads in order to trigger stops
  2. Ignoring, modifying or deleting outstanding (pending) orders
  3. Configuration for the automated widening of spreads, limits and stock levels prior to news announcements
  4. On-the-fly reduction of leverage to force liquidation of large positions the broker’s customer may have open"

"The Virtual Dealer Plugin is a nasty piece of software. It is used to intentionally delay traders' orders, in order to induce slippage. If the slippage is in the trader's favor, the trader's order is executed at the requested price instead of the better price, so effectively the broker keeps the savings. If the slippage is not in the trader's favor, the difference is passed on, so the trader loses. It is a form of cheating."

On this website a broker can buy such a plug-in for $4000: http://mtexperts.com/en/plugins/virtual_dealer/

  • #712
  • Mar 21, 2016 7:54am Mar 21, 2016 7:54am
Quoting mrhigurashi
{quote} Nice demo account there. But what does it prove? Apples and Oranges... Glad to hear you make a good living trading on your demo account though. Keep up the good work. Perhaps some day just like Pinocchio became a real boy, your demo account will turn into real money!
Lol, all the best too!
  • #713
  • Mar 21, 2016 8:00am Mar 21, 2016 8:00am
Quoting MasterGuru
{quote} Just Google it... And you shall find... "This powerful piece of forex broker manipulation software allows them to do virtually anything to your trades before, during and after they have been set in motion. Some of the nasty things this plug-in is capable of doing are: Widening spreads in order to trigger stops Ignoring, modifying or deleting outstanding (pending) orders Configuration for the automated widening of spreads, limits and stock levels prior to news announcements On-the-fly reduction of leverage to force liquidation of large positions...
That's just one reason I do not take trades with MT4. I use it for charting only!
If you are good at something, never do it for free--Joker
  • #714
  • Mar 21, 2016 8:06am Mar 21, 2016 8:06am
Quoting bagman
{quote} http://www.financemagnates.com/forex...roved-trading/
so you have never had a problem with your broker which is OANDA and you can show in last quarter of 2015 the trader had a 37.3% winning percentage which I think we will all agree is very high and they do not have a minimum account deposit am I right in thinking this. also how long have you been with them and do you know if they are a ECN type of broker which I hear are the best type.
  • #715
  • Mar 21, 2016 8:13am Mar 21, 2016 8:13am
Quoting Ross88
{quote} so you have never had a problem with your broker which is OANDA and you can show in last quarter of 2015 the trader had a 37.3% winning percentage which I think we will all agree is very high and they do not have a minimum account deposit am I right in thinking this. also how long have you been with them and do you know if they are a ECN type of broker which I hear are the best type.
I have been with Oanda for 10 years. They will widen their spreads ( as they should) during illiquid times. They came out very well during the CHF crisis. I have never had one single issue with them. That said, I do not trade pairs like USDMXN either.
If you are good at something, never do it for free--Joker
  • #716
  • Mar 21, 2016 8:26am Mar 21, 2016 8:26am
Quoting Ross88
{quote} so you have never had a problem with your broker which is OANDA and you can show in last quarter of 2015 the trader had a 37.3% winning percentage which I think we will all agree is very high and they do not have a minimum account deposit am I right in thinking this. also how long have you been with them and do you know if they are a ECN type of broker which I hear are the best type.
OANDA is a market maker, not ECN. I think ECN is snake oil. My bet is that ECN is being pushed as a magical solution to the evil market makers hunting your stops. Because brokers not large enough to be a market maker need a way to justify commission. Because why would someone who is with a market maker, only paying spread, suddenly switch to a less liquid broker that demands payments for each trade?

Also OANDAs fxtrade is supreme. After first trying it in 2011, I tried out MetaTrader, because all the pros use it right? Tried it for 5 minutes then dropped it. MT is an archaic piece of trash, with very bad usability.
Price-Action Extremist
  • #717
  • Mar 21, 2016 10:05am Mar 21, 2016 10:05am
So guy's this has basically become a debate about brokers I hear good things of (FMCX) (Oanda) (FXopen) does anyone have advice for me as to which one is the best to work with as of now am still on a mini account under a 1000GBP. so it's not the most important thing to me now but hopefully in the next 5 weeks I will be going on to a real account with the hope of turning this hobby in to a real job. all advice will be appreciate ​
  • #718
  • Mar 21, 2016 10:42am Mar 21, 2016 10:42am
So, this just out from FF: http://www.forexfactory.com/news.php?do=news&id=583821

Now, would it seem that the more money a broker is making the less likely a retail trader is to make money with them?
  • #719
  • Mar 21, 2016 10:44am Mar 21, 2016 10:44am
Quoting MasterGuru
{quote} Just Google it... And you shall find... "This powerful piece of forex broker manipulation software allows them to do virtually anything to your trades before, during and after they have been set in motion. Some of the nasty things this plug-in is capable of doing are: Widening spreads in order to trigger stops Ignoring, modifying or deleting outstanding (pending) orders Configuration for the automated widening of spreads, limits and stock levels prior to news announcements On-the-fly reduction of leverage to force liquidation of large positions...
When people say that they are profitable in demo but not live, I think there is perhaps an over emphasis of the psychology element, probably peddled heavily by the brokers. I have always tried to say, maybe it's not you.... well, now the truth is out. No broker is going to manipulate a demo account; after all, they want you to be profitable, so you open a big fat live account with them, then they probably let you win a bit, get your confidence flowing, so you "invest" even more money, then.... guess what?

This is what I do and I have found it eliminates all the foul play: I use a good demo account as my operating account and copy to live (currently 3 accounts), using the "trade at market" parameter. Works great.
  • #720
  • Mar 21, 2016 10:47am Mar 21, 2016 10:47am
Quoting jen101
{quote} When people say that they are profitable in demo but not live, I think there is perhaps an over emphasis of the psychology element, probably peddled heavily by the brokers. I have always tried to say, maybe it's not you.... well, now the truth is out. No broker is going to manipulate a demo account; after all, they want you to be profitable, so you open a big fat live account with them, then they probably let you win a bit, get your confidence flowing, so you "invest" even more money, then.... guess what? This is what I do and I have found...
Correct about the demos, however, your live account will still become a victim of the "plug-in" parasite software as these software impact the executions on the live account (even if you copy the trades from a demo).
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