brokers CHEATING!!! important!

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cr0cop
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brokers CHEATING!!! important!

Postby cr0cop » Sat Nov 14, 2009 5:59 pm

hello, i have been doing some research and from what i got from the research is that forex brokers look for ways to hunt you down and trigger your stops, figure out your system and then trade against it etc. here are some videos that explain (i am NOT trying to promote the products sold on these videos) .........anyway any of you guys know more info about this? has any of you worked in the inside of a forex broker and know how to counter all this?

http://www.youtube.com/watch?v=nlWw3c-xnx0

http://www.youtube.com/watch?v=gI6b9zeo0tc

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Postby dragon33 » Sat Nov 14, 2009 6:33 pm

Don't use fixed spread brokers!!!
If you do run two feeds with the same servertime and take pictures as soon as you see something that isn't right.
Choose a regulated broker so you have a place for your compliance.

On the other hand people are talking about beeing screwed by the broker. Most of them are people who think they can trade but they don't. It is the easy way to say it is the brokers fault and it is human nature to say it wasn't me.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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cr0cop
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Postby cr0cop » Sat Nov 14, 2009 7:34 pm

yeah i learned to stay away from dealing desks....but even though ECN brokers say that they dont trade against you, could they lie and DO trade against you, or use a 3rd party to trade against you?

jonisonvespa
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Postby jonisonvespa » Sat Nov 14, 2009 9:06 pm

Choose a regulated broker so you have a place for your compliance.

hi dragon

when you say regulated broker, what are you looking for, in the uk i think they need to be fsa regulated, but im looking for a broker mbt look good lowest commisions ive seen so far, and if tro uses them they must be cheep/good.

what are you looking for in a good safe broker whos not going to trade against you, or go bust, what regulation are you looking for??

i cannot understand why brokers would want to mess their clients about, at the end of the day its in their interest to keep all their traders trading to earn the commisions??

thanks

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Postby dragon33 » Sun Nov 15, 2009 5:36 pm

I just want three things
low spread
low commission
bankgarantuee

I have a dukascopyaccount
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Postby cr0cop » Sun Nov 15, 2009 6:03 pm

hey Jonisonvespa, i also didn't get why brokers wanted their clients to lose but i heard a good trader say that sometimes they make you close build your account and then they make you lose again...........so they keep your money when trades go against you....and i also heard that, this is exactly why 'robots' do well on demo but they dont do well with live brokers....because the broker figures out the 'strategy' and then trades against the strategy, that's why robots can't stay alive in forex.....because the broker knows their strategy and trades against it

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Postby adaseb » Sun Nov 15, 2009 10:10 pm

I heard this also when I was reading broker reviews. Basically you will not find a broker which has a good rating.

Everyone says they cheat you, stop hunt you, increase the spread, etc

I used a few of these brokers with bad reviews and never had an issue. Then I just assumed that most who wrote those bad broker reviews were the 95% of traders that lose.

Think about it this way. If you had a good broker that never cheated you, would you go to a review site and say "they are the best, five+ stars"? Most likely you wouldn't waste your time writing a good review.

However if you lost money because you didn't know how to trade, then obviously you would not blame yourself, you would blame the broker. Since most newbies who try to trade Forex have an MBA and think they are smarter than everybody else, they can't lose. So they go to a review site and bad mouth them.


Think about it this way. If you were a broker and 95% of your traders lost anyways. Would you really want to ruin your reputation by forging the market data to stop them out? No you would just wait until they lost the natural way.

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Postby es/pip » Sun Nov 15, 2009 10:51 pm

dragon33 wrote:I just want three things
low spread
low commission
bankgarantuee

I have a dukascopyaccount



i have heard mixed things on their liquidity

how much size is on the inside bid and ask on the euro and pound during peak times?

commissions and spread are great from what i have heard
Bend over and assume the position for another 4 years of hope and change.

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Postby pablo101 » Mon Nov 16, 2009 3:48 am

cr0cop wrote:hey Jonisonvespa, i also didn't get why brokers wanted their clients to lose but i heard a good trader say that sometimes they make you close build your account and then they make you lose again...........so they keep your money when trades go against you....and i also heard that, this is exactly why 'robots' do well on demo but they dont do well with live brokers....because the broker figures out the 'strategy' and then trades against the strategy, that's why robots can't stay alive in forex.....because the broker knows their strategy and trades against it


adding this extra dimension to your trading is so annoying, it makes you want to switch to something else to trade so you can make money easier
What line? The line that tells you which way you are trading! - MO

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pablo101
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Postby pablo101 » Mon Nov 16, 2009 3:51 am

es/pip wrote:
dragon33 wrote:I just want three things
low spread
low commission
bankgarantuee

I have a dukascopyaccount



i have heard mixed things on their liquidity

how much size is on the inside bid and ask on the euro and pound during peak times?

commissions and spread are great from what i have heard


I was tempted to open an account with dukas because they lowered their starting cap from 50K to 10K, had good reviews and lower com but since I was starting out I kept it simple and stuck with what I know best mbt
What line? The line that tells you which way you are trading! - MO

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