Most importantly, out of 100 trades, 90 trades were without stop losses.
If you’re having problems with that after that, either there’s a big problem with what you’re doing or your broker is doing something untoward. You see, I can’t think identical time, By the way I firmly consider that So there’s a dark force on the other side, who won’t let me make much profit and will manipulate the rates for their own profit. In such cases they have internal processes which determine whether they keep the exposure or whether they offset in the market. Different brokers handle things different ways in that regard. Sure. Forex brokers who act as market makers operate in basically very similar fashion. Do you know an answer to a following question. They sometimes have an overbalance, right? They are just offsetting customer longs and shorts against one and identical.
Amongst the other arguments scam claimers make about forex brokers is that they run people’s stops.
He’s not the first to make that statement, and I’m sure he won’t be the last. So it’s something I received from an obviously disgruntled now ex forex trader yesterday. For traders in the futures pits are supposedly notorious for that kind of action. That gripe is in the markets for years -all markets. Here’s the thing. Guess what? You should take this seriously. That periodically could include running stops. Anyway, the markets and market makers exist to facilitate transaction flow and make their money from it. They are preparing to do whatever makes sense to increase that flow.
VertexFX but they told me that they will provide it soon since it saved me hundreds of dollars for features I had to pay for in MT4. These demo accounts all have live charts on them. Known taking the suggestion of the demo account, I’ve actually opened more than one to test multiple platforms. Let me tell you something. Look, there’re many vendors I doubt you’d run out of demo account access to charts for a decent long time, while is not swindling. Furthermore, beginning Forex traders are often considered an easy target for these Forex scammers being that the Forex market ain’t regulated.
Looking at broker websites, the nfa and ctfc websites, I concluded that though the forex market is legitimate, forex brokers are not, right after researching all complaints. And so it’s a SHAME that the forex market has such great opportunities that everyone needs but is WASTED because of all those crooked brokers who cheat, lie, and steal your money. It going to be heavily regulated and enforced. It’s a scam to trade the forex market. Notice, surely one market maker has no more influence over everyone else’s charts than you do. My whole point is… If you think the market maker is trading specifically against you, check the other vendors charts!
Forex is opertated like a scam!
s How is it when I practice trade the trend continues as predicted, but when I place a big order it immediately switches direction and wipes me out. Whenever protecting the big boys, the guy writing this article is baised being that he works in the industry. Have you heard about something like this before? Whenever shooting stars, bearish and bulish engulfings…, as for reversal signals like hammers. Stay out of Forex, it’s unregulated and they scam you and me. There is a lot more information about this stuff on this site. These Hedge Funds and major institutions see all orders coming through and trade against them with their millions and billions of dollars causing most of the small traders getting wiped out.
You can certainly look at charts and see most of occasions where a long rally will follow a hammer but add up all the scenarios where it didnt to the scenarios where it rallied some but didnt reach a desired target and flip flopped while before coming down. My work as an analyst is for a group which provides analysis on a ‘3rd party’ basis. Add it all up. Furthermore, its a lot like sitting at a grey jack table watching your chips go up down up down up more down more bet more lose more bet less win less up more down more til its all gone. As the guy writing the article I have no bias. Needless to say, seeing as our forex commentary is available to both FXCM and Oanda forex traders at no cost, the idea that I’m biased toward the institutions is a complete joke.
While selling the USD and buying the Euro when the trends were the reverse, i did not maintain the discipline long enough, and again went against the trends.
i did not retain most of the gains. God’s grace and second, the advice and feedback of a couple of people i happened to read articles from, over the last six months.
From the interbank perspective they aren’t the fools from whom the money was made, in the grand scheme of things the retail trader is the fool at the table. Im willing to invest in the time to learn. Must I do Forex? Oftentimes they just aren’t doing enough of the volume.
It is it even a viable option in todays economy? Of course nO where to start…Should I start with stocks? Needless to say, im even willing to start small and take the time to build it up. Essentially, I have to imagine they look at hedgers and multinationals, who are strictly acting in a business rather than speculative context, as the real golden geese, from a MM’s perspective. It could have been said everyone else is the fool.
We must make it clear, though, that when you say Market Maker, you are talking about the interbank market MMs, not retail brokers.
John, A system and discipline is crucial as any trader knows, it’s difficult with real money but doable. Per your statement above about retail volume not reaching the interbank market, your comment that retail traders feed the MM’s book is contradictory. It’s the former that are the primary price makers. Now look, the latter mainly just pass rates through. Cheers from an ex trader. Because of the high leverage from the FX guys or because that’s what someone taught them, one reason I can see why one will choose to trade on a FX account is because of ignorance of the CME markets. A well-known fact that is. They are the one running stops. It’s being done at the interbank level, that naturally trickles down to the retail realm.
Pus500 is very large and represents decades of work and literally thousands of hours of my life. It’s a shame it appeared in the comments section of this article. Usually, it’s one of a few things I’ve read on the internet in awhile. It is if i can recover these monies or even begin to make a sustainable, modest passive income on the basis of fairly basic strategies, so i might be pleased with the outcome! To Aaron’s Mailbox thank you very much for your very well written response.
Seeing as I can demonstrate to you systems which have very high win but very poor performance -and you could probably think of some yourself -clearly win percentage isn’t the determining factor in profitability.
Wins in baseball are binary. Not all of it, It’s part of the equation to be sure, Therefore if you win 99 times out of a 100 and that 100th trade wipes out all the gains from quite a bit of the trades therefore it doesn’t make a damn bit of difference that you won 99 of the time. That’s one of those things newbies fixate on, usually to their detriment. You either win or you don’ Your run differential doesn’t matter. Anyway, flipping that around if you lose 70 of the time but the other 30 are big enough winners that you’re well in the greenish,, does it matter one iota that you only had a 30percent win rate? In trading that run differential most definitely matters.
Stocks are neither easier nor harder. Only one difference is the permissible leverage. However, all identical mistakes trip traders up. Consequently, in most cases, the claims of stop running coming from forex traders is nothing more than people getting burned by putting their stops depending on Surely it’s egotistical and selfcentered in the extreme.
Cut your losses and have your third stock run a huge profit and you have a chance at making an income, stocks are easier as it’s regulated with all the skill globally you will lose money about 2/3 of the time. Kris, you won’t make an income from home from Forex, 98 of people lose their money one year as it is an unregulated market designed to wipe you out. Remember, that’s the real side of the story you don’t hear often. They don’t even execute trades at the price you initiated.
Singapore to do so. Are you talking real money here? Thank you for the reply. I’m sure that the good news is, in spite of believing that the bankers and the wicked trade directly against retail clients, I’ve been seeing a whole lot better at this than i am and don’t know if i going to be able to actually do this.
The question I would ask for anyone who is making a claim of forex being a scam is whether they can demonstrate a trading system with a meaningful track record of success and that they followed said system as designed.
Further, the entire basis of the interbank market -and all OTC markets -is transactions between buyers and sellers and market makers. Normally, in interbank forex, the banks are the market makers, both with and amongst one another and with the funds and companies that are their customers. Anyways, so that’s more about the trader than the broker. Also, if you trade those stocks through them they are doing pretty similar thing as the non ECN forex brokers do, actually, not all stock market transactions are straight pass throughs to the exchange either.
Forex and spread betting is a SCAM! Otherwise, show me evidence that the employed methodology must have been profitable. You apparently weren’t paying attention when I said a sample of one individual who has admitted to using all different kinds of time frames and trading styles over a year’s time is insufficient evidence of anything -good, bad, or otherwise -no matter exactly how many trades. Ive only just realised after losing my life on it, it’s almost impossible to win I am doing it for 10years everytime i lost I thought it was my fault but I realised it does not matter if you go long or short the will go the other way and wipe you out! Then again, if he’s been trading with some no name, unregulated broker so I might allow for potential shenanigans. Where are all the regulators? Keep reading! CHEATING! Eventually, mM are robbing people in broad daylight! FSA and so and so ….
It must be clear that such volume must be sustained to make the market move, you mentioned percentdollarsign 2mln/minute to move EUR/USD.
Much harder to accomplish without considerable risk beyond that, manipulation is possible in the shortterm. Market is going to begin reverting, since the order flow stops. Please see my comment above. It took me seven trading years to find that you can, indeed, profit trading with MTEven with Plus500, since i tend to be stubborn. It requires the use of specific tools, skills, methodologies and patience, Forex isn’t a scam. God that allow me to make a very good profit. Then again, once the orders are cleared it moves back again, we see that happen quite often when clusters of orders are hit where the market moves rapidly in a short span.
Look, there’re market makers in all markets. They are the ones who provide steadily liquidity by always being ready to provide a quote and take the other side of a trade. Known i’m assuming that if the stop never got hit after that, no one was even close? The serious issue I had learning was that when I put stops in the price would never be met and it will wipe out my demo account and just carry on going. On top of that, on a demo account I was making profit and later the entire 50k went on a single tiny trade suddenly just for the sake of one stop. Needless to say, why should you risk real money on a mechanism like that? Market makers in all markets look simply to make the spread over and over and over again, as a rule. Of course rather to be net neutral, they don’t generally look to take positions. Without them the markets should operate much less smoothly.
Second, in my opinion it’s a real stretch to say lots of us know that there are many retail traders trading dollarsign 1mln lots, and certainly they aren’t doing so at percentagedollarsign 2mln/second.
Not that it matters if you’re correct about 99 of retail volume not reaching the interbank market. Is Oanda a ECN? Why will anybody trade with the other guys, if so great. I’m pretty sure I heard of them and they sound reasonable I am skeptical that they are as pure as is said, as far as the ECNs I am not familiar with them. And therefore the FX brokers are always trading against you.
That sort of action, though, is a bit easier in the futures pits than in the widely dispersed forex market. It will take a highly coordinated effort among a wide array of market makers to do that kind of thing.i do hope you shan’t give up hope and i encourage you to use VERY small accounts and seek to double and triple them before withdrawing gains and going back in, if you find the afore-mentioned details helpful. Brokers and dealers generally keep their costs tightly in line as long as if they don’t they can lose business. Stop running isn’t something easily accomplished, as such. You should take this seriously. It’s possible to take money from forex brokers, with good strategies and disciplined money management.
Ive been trading forex for about five months now, and watched hours of Steve Niso seminars and others videos feeling confident that I had the knowledge to know how to go about trading. Every scenario has a fifty percent opposite scenario. Even if a trend has ten waves you dont know that til it happens and there’re as many scenarios 1 wave 2 waves that you stilll are 50 50 when u take a position. Wont be able to lay it all out here,. However, vise versa. Furthermore, you dont know that wave is come down til afyer it does. As a result, you never know your mistakes til you make them and u cant learn from them as the next scenario will go the other way. Certainly, even with fundamental analysis…. Its sneaky and more sophisticated than a casino but just as losing of a bet if not more. That said, its a very brilliant scam since there are so many ways you THINK you can win. Its just bulls versus bears. Seems simple enough. Wait for the topa andwave in a down trend and go short. Take trends. Now let me tell you something. You can learn all the techniques and strategies you need but it doesnt matter. You will always see tonnes of scenarios where technical analysis holds true but only in hindsight and where it doesnt work is overlooked. Oftentimes it all became clear, after losing my money this last time. Ypu can break support or resistance and it could snap back.
Now me or you issue a dealing ticket, what they do straight away estabilish if you are a beginner a new member of their family!
They make their money from commissions instead, since they don’t act as market makers and take no positions they do not earn the spread. They simply pass your orders through into the market like a stock market broker does. On top of this, some are ECNs. Generally, of all, not all forex brokers are market makers.