I have also been with the same (UK-regulated) brokers for at least 12 years now. And I have never had any negative issues with any of them. In fact, in spite of the inference that such brokers apparently do not “like” long term clients, I often receive positive slippage on both entries and exits - hardly symptomatic of a broker “out to get me”!
To be honest, I never even hear anything from them except for their routine e-mail notices of contract changes, etc. They never try to impose ideas or training things or signals on me. They are just like a bank account where I do business and get confirmations and account statements as required. And that is about it.
I only decided to stop posting here because the original idea was to offer a place to discuss more deeply the issues that @lang15 raises in his excellent videos. But there seems to be no need for such a discussion forum as there is no response, and I really don’t want to appear to be just imposing my views on others! I guess those videos simply speak for themselves for those who want to learn which is a good thing!
I find @Lang15 to be a genuine nice guy who is also a very good trader and I like watching his videos. He speaks highly of you and with good reason. Stay well stay safe and happy trading.
This is surely the main argument in favour of technical analysis of price? No one can say what the majority of market participants are saying and even less about what they are actually doing in the markets.
But what we can see is the overall impact of the sum total of all that opinion and action as it impacts upon the price of financial instruments to the extent that they are free markets. And analysing the underlying pressures causing those movements is where TA finds its value? Or what do you think?
Yes I thought exactly them same thing when I saw the very first video of his and started going back through some earlier ones. I find them very realistic, genuine and in the real world.
He kind of fills the real-world gap between the two extremes usually talked about i.e. blown accounts and millionaires!
I wouldn`t be suprided is another way of saying, its my opinion but i dont have a exact number.
The broker tells you that 70% lost money, but it doesnt tell you that the other 30% make money. Thats why i said that the longer the timeframe those statistics refer to the higher the % of losers will probably be.
I used past sense used to because most of them where now FORCED to reduce leverage by regulations.
Like U_FX said if you are a sucesfull trader you will be annoying to them because they will have more work because of you and less return.
Forced to reduce leverage, yes, but no one forces a trader to use those extreme levels of leverage. It is ignorance and greed on the part of the naive trader who over-extends their exposure in the rash hope of getting rich quick. And, sure, like I said, if a trader is dumb enough to give up his money so quickly using high leverage and short term trading then the broker is not going to complain very much about that!
In fact, any reasonable trader will usually agree that sensible risk management and account equity means there is no need for high leverage at all anyway!
As for brokers disliking successful big players, well I don’t where you get that view from! Again your opinion? Ok, whatever! But it really doesn’t matter what your broker “thinks” about consistent traders, they are hardly going to lose any sleep over it or try and “sack” you, so it is rather an irrelevant argument don’t you think?
As i understand it, some brokers do not encourage automated scalping involving huge numbers of trades each for a few pips. Otherwise, their only concern is managing their overall exposure. And they hardly hedge every microlot individually from every Newbie.
But I doubt if there are many brokers smugly laughing on the journey home because they managed to kill a couple of $100 accounts today! In fact, from an admin point of view, a content and successful trader is far less of a cost “burden” to a broker than all those people moaning because their 10-pip stops keep getting hit.
Anyway, you have said your view and that is fine. It is hardly going to change the world… so let’s leave it that maybe some brokers don’t like their clients. (and maybe some others (might, possibly) actually do! )
Like I said, You don’t know! It is all your opinion and speculation. Fine! That is what forums are for!
The main issue is that we do know that far too many people lose money. Whether it is 50-60-70-80-90%, whatever, it is far too many and for many different reasons!!
And the regulators are most likely to keep on tightening the screws until the figures are acceptable. But the reason for that need is to protect the fools and the innocents from themselves and unregulated educators and marketeers. If you really want to rant about something then watch some of @Lang15’s videos and see who are the real cowboys in this market!
You where the one that said that the 90/90/90 rule is factually shown to be largely untrue nowadays. And you pointed to the brokers numbers, As i have explained to you, you cant get a conclusive view based on those numbers, there is more info needed to know the real number of losing traders, Do you have that info? If not you are sharing your opinion just as i am.
Good traders making money are a steady suppliers of commissions and fees to brokers.
It’s ridiculous to suggest that all brokers make money by sending traders broke. It’s illogical and makes no sense.
What I find is that traders who go broke and especially those who blow their account are usually the one’s complaining that the broker sent them broke.
Recently I was offered lower commissions on my Futures account by Gain Capital purely because of the volume I trade and the time I had been with that broker.
I have already explained the regulatory requirement. I am not going to repeat it again. Go and do your own research from the regulated broker pages. Why do you want to just stir up old scaremongering stories that died years ago. Did you really lose that much that you have to dedicate your life to spreading fantasy opinions of your own invention. Get a new life for goodness sake instead of supporting weekend trolls!
You’re right. Brokers variously report an average of about 75% of clients trading with them lose money.
So if that’s the rolling average the cumulative percentage of clients who lost money can only be higher. I’m very prepared to believe its at least 90% over long-term (though I think the 90/90/90 rule came from what is now an old study of US-based daytraders, so not universally applicable but still a good enough guide).
Im not saying that all brokers make money by sending traders broker, and im not saying that because you are sucessfull they dont like you and have no interest in you.
What im saying is and as most brokers operate as bucket shops they are more interested in the newbie that will deposit and blow is account and will give them money faster than the sucessfull trader. The vast majority of their clients are losers so i think it makes sense for them to focus more on them.
People are going to carry on ad infinitum dreaming up all the mathematical models of if it is this or if it is that, then it is this or that!
The only relevant fact which everyone seems to agree on is that it is far too high!
The regulatory pressures are clearly with the same thought in mind and examples such as limiting leverage for retail (as opposed to “professional” designated accounts) are to protect the individual, who in most cases, except for outright fraud, are their own worst enemy.
And i already explained to you that saying 70% lose doesnt translate to 30% being profitable. You have 3 options you lose or you win, or you dont make or lose money. You only know one number out of the 3, the 70% number, you dont know the other 2 numbers and they are necessary to know te real situation with the brokers clients.
I think that is what we have ALL been saying all along!!! Nothing new there! With the exception perhaps of “most brokers operate as bucket shops”. I certainly don’t know the answer to that statistic, but we more experienced guys here have been urging newbies to do their due diligence on the broker choice for years!
But good to see you have now decided to qualify your earlier opinions that at least some brokers are happy with their clientele!
You really have got a pessimistic attitude! What we do know is that the 30% did not lose! That is a good start. Now the issue is how can the rest of the 70 % get into the other category (apart from just drawing their money and putting their account to sleep).
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