FOREX is absolutely manipulated and there is no way to make long term money in this bullsh*t game. Anyone else starting to wake up to this fact??
“Buy the rumor, sell the news”
What does this have to do with the title of your post?
Markets are very random and brokers need to make money to survive, so yes, the odds are certainly stacked against us in many ways. Only a small percentage push on to find that edge that makes them consistently profitable, but this take a lot of time and money to achieve.
1 Like
More than a year ago I had some sympathy when you posted that you had been losing money and wanted to quit trading. So I posted up what I hoped would be be a couple of helpful points and some encouragement for you.
What have you done since then to improve your situation?
GBP gained big today for 2 reasons.
First is the market is thin and second is that UK PM’s office has been signalling an easing of UK lockdown since first thing this morning - long before US traders came into work.
Edit: not saying there is no manipulation but there is also the rule of probability - cable has been on the rise all of last week then this week starts off with above news - the probability therefore is simple for today at least - the week is yet to come.
Obviously not enough, lol. Still haven’t deleted my account and stopped this stupid rat race either.
1 Like
How do you know which news will be the big news? I would’ve thought very solid job growth, good ISM and PMI numbers, along with the S&P breaking 4000 would trump Johnson saying their gonna open up the country, a little more, than they had before. Apparently I’m an idiot though, and the word of a politician will move a market more than facts, data, and actual numbers. I didn’t expect a huge move to the downside for GBPUsd, and had I been awake at 1 in the morning I would’ve closed my short. I just assumed I’d take a good ride down to the 1.38 level instead… the opposite.
I have flagged a number of times that very thing - it’s always short term and today the Europeans are on hols so a little easier to move.
The PM’s announcement carried more weight because the UK Govt have declared over this past weeks that this will be the last easing - there will be no return to economic restrictions.
Edit: seasonal trend for gbp in March and April is to buy - May is a sell - the rest
GBPUSD Seasonality - Best Times of Year to Buy and Sell | VPT (vantagepointtrading.com)
IMO, GBP/USD are the most difficult to trend trade, and for me my largest losing pair, over an eight month period. So much so, I’ve stopped trading it. I think you need to watch whatever TF you’re trading very closely, as you’re in danger of being whipsawed out all the time. IMO, it’s controlled by NY & London institutional/hedge fund mafia.
Try AUD/USD, EUR/JPY & USD/JPY instead - they at least perform to their probabilities of being profitable. JPY is very predictable, apart from GBP volatility, because it’s a safe haven currency for the USD & EUR.
Great ISM numbers so what?
Did you look at lending growth? Or should I say lack there of.
You can forget inflation numbers (from a low base anyway) when we are in a credit contraction.
It wasn’t just IMO, that wasn’t the only news… Anyway, look at it today, did something change over night with credit contraction? It’s all bull crap. Banks manipulate markets, end of story. All retail can do is guess. Trading is gambling, that’s all it is… and the House always wins.
The move on GBP yesterday has already been undone 
Yup… so what excuse are the manipulators using to explain the move?
I’ve posted that on GBP a number of times - post 322 last Oct is one of them.
It happens:
60 years later, the beginning of the new EU - Trading Discussion - BabyPips.com Forex Trading Forum
At the end of the day, how do you make consistent profits in a very rigged game?
very true - especially fx