I noticed many traders post about brokers, and the illegal things they do to take our money.
It seems to me that not many are aware of the existence of a software that solves these problems. I personally use this software, called “broker nightmare”, which gives protection from various threats. From stop hunting to spread widening, winning trades that “disappear” from the financial report, and basically any problem I met here around the forum- it has an answer.
I use it for a month, and it does the job. Half the amount of trades that get triggered in SL by the pips, lower spreads (except after news announcements, but you can’t get it all), and I am just waiting for the next time my broker tries to vanish a winning trade.
Don’t sit and stare, protect your money! Otherwise, why to work so hard to get it from first place?
Sounds like an ad to me, but without giving me any software names, how can a piece of software prevent a broker’s incoming price feeds for stophunts and slippage?
its entirely spam. he posted the same post elsewhere. And fyi to anyone not wanting to deal with potential broker manipulation…i’d go for spider instead…its basically a different trading platform that works in conjunction with several mainstream brokers.
They basically hold s/l, t/p, ect on their servers instead of the brokers…probably way better than a stupid ea.
It’s a cool piece of software. I’ve been using it for 2 weeks now and love the ability to place stop-losses as near as 1 pip from the market.
I also found an interesting use for the “trade documenter” that’s part of the broker-nightmare package. I use it as a basis for my personal trade log.
BTW what spam are you talking about, give this guy a break, he didn’t even post a link.
If I understand correctly, the EA is giving the broker false SL and TP far from the entry point, but closes the position “manually” in a different point where the real SL or TP is located. That way the broker doesn’t even see the real ones.
I posted this in different places with good reasons! I see people discuss this problem in many forums. Since I know not all readers visit all forums, I tried to find the most effective places, those where most of the people who discuss the problem do visit. That is why I posted here, and that is why I posted a review in “rate my software”. I tried to get to the people that I try to help in least posting, believe me, but if the people for whom I write don’t get to read it, why am I writing from first place?
Well, I hope now you see why there are others. If you think I could do it better, I’d like to hear your advice.
Anyway, the software is really working. It is a widely discussed problem, and the software gives a solution. I think people should know this.
personally I think the best way to avoid all this is to trade via a NDD broker.
many will say they are a No Dealing Desk broker, but if they are a FIXED broker, then they are dealing against you.
It is unfortunate but human nature makes some people assume the worst. It also makes people feel protective. Success by someone else, especially a stranger, is a threat.
It’s my first post on here or any fx forum (so expect to get shot down in flames) but anyway, here’s my potted history … I worked worked in the market for over 20 years and have friends who workspecifically in retail fx. With their guidance, I now use a broker who gives me tight, [B]neutral [/B]pricing - not enough people focus on the neutrality of pricing, it seems - it doesn’t matter how tight the spread is if my broker is going to read me!!
My broker does not have the functionality to hunt stops (I tested this when I first started out with them) and they just stream me live, neutral, tradable prices all day long.
I don’t want this to sound like an advert, because it isn’t - my broker doesn’t pay me (or anyone else) for referrals, and different brokers suit different clients anyway - it’s all about finding someone you are comfortable with.
I am in the UK and so looked at a lot of the banks for their retail offering - Citi, Saxo, Barclays, Deutsche etc - rather than the ‘specialist’ fx brokers.
That was my starting point - that is the only advice I would really strongly give anyone looking at brokers. Look at the big boys - in the long-run, you’ll be far better off and nowadays some of them are really competitive (they have to be and they have the liquidity which means they can afford to be). All in my humble opinion, of course.
