Iâd just love to make 50% on my account - once in my life!
Now câmon. If thatâs true then Iâd be curious to know exactly why. I mean to say: itâs really not like you donât know what yourâe talking about. So whatâs the problem if there is one???
Seriously Tom. As I do with everybody of late I take a look at their other threads and posts (helps me to gauge whether Iâm wasting my time dealing with an absolute idiot or with somebody just trying to peddle something i.e. you get the picture) and youâve been around a while, dispense good advice, and, as I say, you seem to know what youâre talking about. So yeh: whatâs the problem.
The above being said though: as I told somebody privately last night I really just do not buy into these huge monthly gains. There will be TIMES when 50% happens. Matter of fact I think I almost doubled my account in ONE DAY and that was as a result of the original BREXIT referendum (if it wasnât double it was at least a 75% gain). And I wasnât trading huge positions either (although Iâll admit that with hindsight they probably were too big for my account at the time). And it just so happened that my trading system had me on the right side at the time. But it FOR SURE could have gone the other way in exactly the same way as the other poor sods that were indeed on the wrong side of price that night/day. So itâs not the norm and itâs certainly something that cannot be factored in even when doing an honest average per month calculation. But 5% - 10% per month on average over a reasonable period??? Thatâs doable. So based on that: no reason why YOU cannot make 50% over a period ONCE IN YOUR LIFE!!! LOL!!! Unless of course youâre joking in which case this post is totally misplaced.
Yes OK, I have made 50% and sometimes in very short periods. The last time was the start of 2018. But after the rain comes the drought and the cycle re-commences. Hey-hoâŚ
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when I level up that much, I come back here and give the free signals for you and @dpaterso and whoever interested so you can live your dreams with my signals lol 
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I donât remember the exact year but when I attended several Forex Conventions in Las Vegas I was offered a programming position by several brokers including a large bank. The purpose was to search for trades at or near the same stoploss levels and randomly bundle trades to push the price to trigger stops. I turned them down and decided to switch to the daily timeframe. The brokers usually have someone on staff that studies the different methods taught and use that information as well, There was one group called the Market Maker Method that stressed a 23 pip stop and about a year after the method went public the price would turn at that stop level. I even saw one trade on my FXCM account signal short while Alpari already showed a reversal. 1 hour later FXCM showed the reversal. Brokers are in it to win and will use every tactic to do so until they get caught. BTW, I am a retired software engineer and have programmed MT4 experts and indicators since 2005, originally as MrPip on the various forums.
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hiya @mrpip314
Thanks for your valuable input. This was kind of answer I was looking to hear.
Best of luck
Stop loss hunting is real. When banks and large institutions are fined for " Manipulationg the Forex markets", this is exactly the deceiving tactics that they use to take your hard earned money. Read the following link, this is recent
When talking about that retail traders small size trades and that they will not be paid attention to, realize a retail trader is not a couple of traders tapping away at their computers. There are hundreds of thousands if not millions of traders orders sitting at certain levels just waiting to be snatched up (you know taking the other side of your trade)
If you donât believe me just pull up a chart of EUR/USD (and actually these pairs are the most manipulated}. Look at basic S&R levels, and maybe a pattern or two(triangles are a very popular pattern that is also watched by these banks and institutions.Now at what levels would you put a buy, sell, stop loss order,( hmmmm TA 101) Well being as you me and about 2 million other traders are looking at the same patterns, these orders are going to all be in the same general area. Boom! move price to these levels (stophunt) and take the other side of the trade where they can buy or dump large positions.
. These banks and institutions get caught and fined quite frequently, and the fines they pay are equivalent to us paying a parking violation.
This is just my opinion and do your own research. The link again
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I am confident that that sort of price rigging is illegal for UK-based brokers and spreadbetting firms based here and regulated by the FCA. If they were tempted to do it, there would be zero chance of keeping it secret. As has been pointed out by the CEO of one of the bigger SB firms here in public, all those sorts of games would be ended as soon as there was the next round of redundancies.
I canât speak for jurisdictions outside the UK, nor obviously for non-regulated activities like binary options.
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Yes, banks play this game but we are not their targets. My point is that many many losing private retail traders will say that the only reason they are failing is because they have been personally targeted. Maybe they have if they have used binary options or some brokerage based in Donkey Sh1t City, Republica de Las Paranoias, but otherwise theyâre just making excuses so they can feel better in themselves. They were not targeted by RBS.
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Stay away from the popular level, like .5 or .00 or S and R level, banks do see where the cluster of sell and buy exist.
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even if they are not targeted by local banks, The Bank of America or Federal Reserve or both canât move GBP(or any pair) up/down?
MM 100% use âStop Huntsâ.
Ask any Market Maker.
MT4 actually has a manual that that shows MM how to âclear the boardâ or hit all the stops in a range. There is actual functionality built in for them to take out Stop Losses.
Their job is to make money and they do that by taking the momey of retail traders.
The long wicks you see are stop hunts by the MM.
Itâs not bulls and bears fighting it out.
The Forex market is the most manipulated market in the world and the MM use every tactic they can to take our money.
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hiya @cstayton
Does this mean MT5 brokers/platforms are fair or this applies to MT5 too? What about cTrader? What platform is the most less manipulated one?
Tnx
Oh believe the man. MetaTrader supplies a piece of software to brokerages that allows them to do any number of things if they so wish. Even things like platform disconnects. Not supplied for clandestine purposes. But open to big time abuse by an unscrupulous broker. It exists. Fact. Not fiction. And in this instance: DONâT ask me how I know. And it follows that any unscrupulous broker with proprietary software can accomplish the same with ease.
Hi @campione
This page should explain well.
If you are using MT4, there are some indicators for that. Please search by âround number indicator mt4â.
I added .5 in my note as well, because such numbers easy to think psychologically become where a lot of traders allocate stops. Of course you can utilize that for your entry after the positions were hunted.
I also found SL hunt does not frequently affect when trading at daily bar/candle.
Hope that helps. Cheers,
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Google âmetatrader virtual dealer pluginâ.
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Your post below this had me in stitches. You left Belize off of your list.
Amazes me really. Everyone kicking back at these regulators. These regulators didnât wake up one morning and have a get together and a singsong and with tea and scones and decide that theyâd mess with the trading industry, particularly the retail FOREX trading industry, simply because they had nothing better to do that day or for the next year. People were getting ripped blind not only by an unregulated industry and unscrupulous brokers but by themselves too. The solution: letâs go offshore, open an account with an unregulated broker, and problem solved. Madness.
Iâm sure they could do this. But its nothing to do with private retail forex trading. These giant banks donât target private retal forex traders as a group, nor the individual traders who come onto these boards and say their broker targeted them personally. Of course, if the underlying market price drops 10 pips, any broker is just going to have to follow that move. But no one broker can move the market to target one trader and thatâs what these guys are often saying.
In a tightly regulated jurisdiction like the UK, stop-hunting by a broker against their own clients is illegal. The penalties for this far exceed whatever they could gain from triggering a stop.
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End of the day, letâs suppose a trader believes brokers hunt stops. Suppose they have cast iron evidence. And their regulator wonât or canât do anything.
So now heâs not able to use his TA skills as his edge because whatever the TA says the broker can do the opposite at any time.
Effectively, he is now gambling, as his skills will have no effect on how he plays the game or its outcome. He is gambling in a casino where he knows the wheel is rigged.
And yet, he keeps coming back to the same table and putting his chips down to play the same game in the same wayâŚ
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