I can’t be more adamant when I say this. The Fx mkts are not what you thought after all the reading and hours on demo. I am so adamant that I’ve had my posts deleted.
There’s a randomness of the markets and there isn’t a smaller portion of the time. Many professional traders have different explanations of this. What you need to know is the underlying reason is that the markets are what you call “rigged”. Now here’s the flip side of the coin. Traders like me and hopefully some of you will actually understand this is a good thing and necessary.
You need an edge to your trading. Forget all the technical strategies - think of it this way. We, “they”, all of us are looking at the same charts. Fundamentals are better, but just stay in touch with the macro economic picture because by itself it isn’t the answer.
Put together the pieces I have laid out. This internet is so powerful the answers are all there. I don’t care to say more. [Removed due to forum policy] I don’t have the time nor do I care. The only way you’ll become successful is by doing the hard work and on your own path. The stronger you are at this the more things will “stick”.
Here’s a last dose of reality. If you were trader material you would’ve never come here whining for help. You would be nose deep in trying to find your edge.
Hope at least one of you who reads this get’s this.
Grafting and finding your place in the market is definitely the way to go. As you said, the internet has everything one needs, you just need to figure it out for yourself.
Haven’t watched all this, but it re-iterates the conspiracy theory that forex prices are manipulated with the specific intention of taking money from retail traders.
Firstly, retail forex trading is a tiny sector of the forex market, maybe 5 or 6% of its turnover. How is manipulating prices on this scale a good r:r for the MM’s, especially as we’re looking in this case at EUR/USD, the most heavily traded pair? And just how much money would need to be deployed and put at risk in order to move the EUR/USD?
Secondly, where is the evidence that retail traders are the targets, rather than the big institutional players?
Thirdly, the clip seeks to demonstrate that retail traders are deliberately lured into bad positions and then deliberately stopped out. This assumes that those guys would have been winners other than by the machinations of the market players and MM’s. In reality, traders get burned in bad positions because they’re bad positions. In the trade shown in this case, the retail trader’s strategy displayed involved selling into an uptrend. This is the way many traders trade and explains why they traders lose without need for any coordinated efforts to “rob” them.
I am more than sceptical market manipulation is a problem for retail traders. The problem is the way retail traders trade.
[quote=“tommor, post:8, topic:152481”]
Haven’t watched all this, but it re-iterates the conspiracy theory that forex prices are manipulated with the specific intention of taking money from retail traders.[/quote]
Ahh, It’s no conspiracy theory, they are taking money from ~90% of retail traders, big & small.
~3% Of the FX Market is estimated to be retail, still leaves a large percentage of $210,000,000 to up for grabs for a few hours work each day…
Hey @tommor Perfect example on the GBPJPY at the London open today…
edit: (and Yesterday’s open)
Price breaks the downtrend moves up 21 pips before continuing 1 hour later a further 70 pips to the south…
Same on yesterday’s NY open, downtrend in place instant move to the north of 40ish pips only to continue 2 hours later with a move down 55ish pips… take from it what you will…
I only noticed this pair because I had already been short (Heikin Ashi) on the GPBJPY since the middle of the Asian session… Maybe should check some of the other liquid pairs.
Making retail traders lose is not the objective of the massive forex market. a pair like GBP/JPY bounds about like crazy at the best of times: its always going to be highly risk-sensitive. Playing it and similar for minor pips is just like using a slot machine.
Agreed, the net result is the same, most retail traders lose. But that’s not why prices are moved. And they would continue to lose even if we had a cast iron guarantee that prices were never manipulated, on pain of MM’s death. And that’s because they are bad traders.
I haven’t looked at this chart but the example you gave demonstrates my point. Retail traders see the downtrend, they see price rise and they buy. Lo and behold, the trend proves to be the stronger force and resumes. They are stopped out. Not through market manipulation, through market behaviour. They were long in a downtrend, which is stupid.
The main reason I post these snippets of information off Youtube is so newbie or struggling trader/members will read it, take some of it in and in this instance… next time the price has a sudden change of direction on a market opening will think twice about jumping on the counter trend and not get caught out…
Sorry…I was under the misconception that the more experienced were here to help…
To say there is No manipulation would be wrong
As there has been for many of years to what extent i cannot say.
But with this in mind they cannot manipulate the major trend. So…
@chesterjohn
Technical analysis doesn’t make any sense.
It is the most important part of my Trading stratergy
i would not take a trade without it.
Thanks for this. I haven’t said the forex market isn’t manipulated. I’ve said - “Making retail traders lose is not the objective of the massive forex market.”
Losing retail traders like to hear they are being deliberately and personally targeted, it helps massage their bruised egos. But they’re still just bad traders.
I’d totally agree that 60% of Forex Traders lose funds due to self induced issues, poor understanding, to much risk, etc… The other 30 - 35% lose due the constant market manipulation of price action as shown so very clearly in the last two videos I have posted…
Longer term trading strategies (and pyramiding in) is successful because it doesn’t get caught up in the manipulation tactics applied to the market as often… A Moderator liked your post … a little disconcerting…
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Below is another insight into the MT4 Broker Client Management Tools that can be used against retail traders.
Also demonstrates how to be aware and profit from MM’s accumulation stages, Trend changes and other nefarious Broker behaviour designed to take traders accounts apart.
Three gems of information that can be taken away by new traders from both of these videos.
Most of what is being taught is rubbish… hence the phenomenal +90% of traders are losing money to the markets… You have to look deeper into the markets to get a real edge.
Patterns that are repeated over and over and over again…accumulation, squeeze, profit run…
Learn the patterns, know the patterns, use the patterns…you can’t beat em… copy em…
Price Action is King… Indicators lag… the parties nearly over once your Indicator shows a change in direction… study Price Action religiously… it will make you money…
I’m well aware that some of this content is over the heads of ~80% in the Babypips forums, yet these videos drag out into the daylight the undercurrents that steer Price Action and the Forex Markets.
