for an experienced Forex trader : is this all "booked" or there is something real?
I used to trade Forex when I made a K from K and then lost it all.
I see a total difference in the approach with the same broker – now and then
Earlier I could make money & now any kind of Trade gets automatically stopped out.
I wonder if there is a catch and the whole MT4 software is "gamed" .
In the sense that – on lower time frames , if your broker takes positions against you or goes stop hunting , none of that need reflect on higher time frames.
But if you trade on higher time frames , you will get stopped out by your broker on lower ones and they can easily hide it.
E.g. if there is a Spike that stops me out in M5 ( MT4 platform )
that spike is nowhere to be seen on M30 , H1.
Because there is no way we can verify that the spikes of M1 actually add and make the picture that we see ( the "zoom out" or gross view ) on M30 and so on.
Is this just trader paranoia that he is failing because of broker manipulation ? or there is some truth to it …..
Is it possible to make the tonnage you dream of in Forex with education or your going to be logger heads with broker manipulation all the time.
If Forex is broker manipulated then are there situations where you and the broker can both make money or for the most – the broker is only interested in tanking your ac ?
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Tagged with: difference • forex trader • kind • manipulation • mt4 • quot • spike • time frames • tonnage • trade
Filed under: Forex Books
I agree that things have changed in the last couple of years. The short answer is that the markets have become more volatile. There are many 1 min bars of 10 or 15 pips in length that go both directions if you watch them real time, and there are a lot more long tails on the candles in both directions. And after a report or during fast markets, the range can expand to 50 pips in either direction.
You’re probably placing your stops too close to the market. The market makers are good at picking stops from the little guy that can’t afford to lose very much. Also, try not to place stops where everyone else does, where they accumulate, and ASK to be run in a big group. Price finds the greatest volume.
Switch to Forex.com or one of the bigger brokers if you think that’s the problem, but it probably has nothing at all to do with the broker.
Decrease leverage and increase the distance of your stop away from the market to a disaster level instead of just a few pips away.
I’ve started using mental stops and wait for the 1 min bar to close before I manually stop out. But you have to be aware when the reports are coming out and you’re at greater risk of a big run against you. Thus the need for a disaster stop far away from price.
You don’t say which pairs you are trading, but you have to trade the high volume times of day if you use a hard stop close to the market. The GBP is the worst for picking stops, the EUR a little better. I trade from 1:00 am to 4:00 am CST and 7:00 am to 11:00 am CST. The rest is a different ball game.
I prefer forex futures to the spot, and get better fills, but the volatility is the same and I trade both.
I don’t think any broker can deliberately rig trades to that extent – have you tried using a different broker?
Spikes happen, but not on every trade. If you are trading in the US time zone then liquidity is a problem, look at the link with wall street and the way the pairs mirror that for most of the trading session.
If however you are attempting to trade using a bot – then your broker will eventually pick up on that, or the market will if enough people are attempting the same system.
Yea there is some truth that the broker "trades against you", they do make more money in the short term from losing traders. However the broker is unable to make the market move on their own. (Remember this is a 3 Tril Dollar per day market).
im more of a swing trader and find that i am quite profitable from that method. i have learned though that careful placement of SL is nessasary, and if you constantly place SL too tight it will close out everytime.
The important thing with Management is not where your stop is, but how much you risk per trade. this is where position sizing comes into play. remember that 1 lot risked at 20 pips, is the same as 2 Lots risked at 10 pips. Your consideration must be SL not Profit.
If you are constantly being stopped out i suggest you consider widening your SL rules. while maintaining your risk percentage.
If I may suggest, you’d be better of trading currency futures on the CME. You don’t have to worry about this BS, as everything is regulated, and you can see time and sales data provided by the exchange. Your broker is out of the picture.
get more help ; open the second & fourth link in: www.total-forex-trading.co.cc