Has anyone experienced your dealer/broker trading against you? If so, how did you spot it and what can, if anything, be done about it?
interested in this thread also any and or suggestion ,
if you trade with exness.com what is your experienced with this broker.
Perhaps I should clarify my question. My suspicions are in place because of way in which trades I make respond. I will sit and watch a pair for some time, and when I see it steadily rising I mark it for trade. When it continues to rise, I place the trade, but as soon as I hit the trade button, it drops, usually by three or four pips (not including the spread).
If this only happened occasionally, I wouldn’t be too bothered, but when it happens on EVERY trade, I have to question it.
Is this a regular experience with everyone?
a 3 or 4 pip drop is nothing unusual…how tight do you place you SL?
give the trade more room to breathe…the daily range (high and low) of the major pairs is between 80 and 250 pips (only approximate), and within this range is move during all day…so, 3 or 4 pips is really nothing…
you might think of using a wider SL…
Mike
Sorry for delay in replying to this post. I don’t have any problem with a few pips dropping now and then, but for it to happen EVERY time? in the great scheme of things, I seriously doubt if my comparatively insignificant trade is enough to put the ‘pair’ I’m trading in reverse.
I initiated this post to see if anyone else had/has similar experiences, or is it simply a case of me being the unluckiest person in FX Trading?
Have you tried this strategy on demo as well as live to compare?
There are dealing desk broker, non-dealing desk, and hybrid brokers. If you don’t have much money as capital in trading so it’s impossible to trade in non-dealing desk broker so it’s possible if you trade in dealing-desk or hybrid brokers. Actually, if you’re trading in trusted broker so you don’t need to worry if the brokers will trade against you. Some non-dealing desk brokers will trade by theirself and they didn’t include our transactions in real market so our transactions are similiar like demo account. Mostly brokers won’t manipulate the market so you can gain good profit as long as you could trade well.
Can you you explain better?
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Why?
Orders are matched (market makers) or passed through (ECN/STP) by computer programs, otherwise we wouldn’t get our orders filled within seconds or less…
So, unless you are a coder of your brokers platform you cannot know if an ECN order is really forwarded to the interbank market…you simply can’t know…it’s a question of trust…same as with a market maker that his software isn’t manipulated…
So, why is an ECN broker per se more serious than a market maker?
Just pick a reputable broker that is in business for quite a while, independent if it’s a MM or ECN/STP…
Most of my trades go against me some, but remember, as traders, we watch for movement, and as goobers we are getting in after price has moved some. There are days if someone watched me, they would say that is impossible…yea, take me down. I am still inexperienced, and only time will bring me up to par.
Tim
If the broker is trading against you there is nothing you can do about it, only to leave that broker and find some other one. However, if you are a consistent trader than it doesn’t matter if the broker is trading against you or not as long as they are paying you out your profits.
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Trading with an ECN broker doesn’t mean that you will automatically trade profitable…
which broker you trade with?
There are millions trading against you, what if one is your broker among them ?
It certainly might feel that your broker is trading against you but I suspect this is more likely to be simply the normal see-saw of price action. If you are watching for price to start rising and then rise some more before entering then it is quite normal, and typical, for the market to reverse a few ticks before progressing further.
Maybe you could take advantage of this by actually waiting for this pull-back after you have identified a trade before you enter your position. Then you also improve both your stop-loss position and your profit potential.
If you are [I]really [/I]concerned that your broker is manipulating his quotes against you then why not open a demo with another broker and watch the prices on both simultaneously? Or even compare charts at the end of the day to spot any variations during the periods you had open trades.
Ok I agree with the last post about this being normal price action however I think if the broker is going to take your money they will use spread to do it - I have studied this quite extensively. So for instance putting the spread up suddenly to 20 pips to stop you out then putting it back down to 5 or 6 pips.
I do not think broker manipulation is possible with mt4 platform, which is a separate entity by itself.
The advantage with mt4 platform is that you can also cross check the trade movements simultaneously
with any other broker platform. i used do this initially when i had similar doubts.
Perhaps Roger can clarify on this.
mt4
WAKE UP NEWBIES … you’re now competing against people and machines … I had a discussion with my broker over a trade and he said QUOTE" ah yes thats not the way you trade, " and I qureied the chap and he said quite honestly " we monitor how people trade" … FOREX is "bookies against the herd " I have a picture where a person asked me for a screen shot of a particular candle thet he had been “stopped out” on … his was the only trade that hit the stop loss… many many pts from the high on my platform … THE LESSON is dont be greedy , be smart, be alert , your battle is with the traders smarter than you AND the brokers … good fortune to those prepared to fight the good fight …Q