Richard Hill Forex Net Trap

clasgolf said:
Guys out there,be careful of the big boys like GFT,I have first hand experience of market manipulation.I have been trading for over 10 years and still looking for an honest broker.They are worse than secondhand car dealers and a lot worse than lawyers.In fact you will probably find all the lawyers with shares in these companies.
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As most brokers are trading against you it is not in their interest for you to keep winning,you could try an ECN broker instead.they only make their money from the spreads on your trade,:)the dealing banks don't know your limits or stops.Try PFGDIRECT.COM for a demo account and see how it works.
 
MikesDirect said:
Re: IG Slippage,

I did mention a few days ago that I get virtually no slippage now that I have bought a 'lightening fast' desktop PC that I use almost exclusively for trading - it really has made a heck of a difference!

Good day Ladies, Sirs & Lurkers.
Mike
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This is becoming interesting , I have some observations to add , no conclusions yet, but there may be inadequacies in IG's systems.
I use two desktops both are fast machines (quadcore and all that stuff), my broadband
runs fairly well around 10-12 megs (no where near the 20 I pay for).One machine has an MT4 platform fed from Alpari ( atm I only use them for the feed and have not taken any positions with them) this feed is fast and absolutely rock solid. The other machine is mostly logged on at IG , I have noticed that at 'busy times the IG feed can 'lock up' when the Alpari feed is bouncing up and down like crazy. I have on a small number of occasions attempted to exit a trade with IG , and been given ,after a long 'pregnant pause ' , the sorry this price is no longer valid screen- on two occaisions this has persisted (ie several attempts to exit) whilst a small winner sedately drifted south into a looser. I can't imagine that on the size of my stake that there would be a deliberate attempt to prevent me cashing in on a winner, my thoughts at present are that their
system is poor and easily gets bogged down. If this persists I'll be taking my business elsewhere. Anyone any info about this outfit 'World Spreads' offering spreads of 1pip on most pairs (haven't looked at any of thier small print yet, sounds a bit too good ).
 
I have no doubt that there is manipulation in the market at this time.I am now doing a full study on the net and have already found some serious warnings about trading with dealing platforms E.G. GFT. Most of the comments are "go to ecn's" for trading such as fastfx,so i will report back on my findings.Thanks to you guys for all the input and to also study this Phenomena or Cheating.These guys must be made aware that we are on to them.I know it sounds dramatic but this is our money.
 
clasgolf said:
I have no doubt that there is manipulation in the market at this time.I am now doing a full study on the net and have already found some serious warnings about trading with dealing platforms E.G. GFT. Most of the comments are "go to ecn's" for trading such as fastfx,so i will report back on my findings.Thanks to you guys for all the input and to also study this Phenomena or Cheating.These guys must be made aware that we are on to them.I know it sounds dramatic but this is our money.
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"Onto them" :LOL:

IG Group achieved a turnover of around £122 million pounds last year. Of course clasgolf they made this from stealing your 50p bets from you and deliberately locking out your platform so you couldn't close that £10 profit you had made.

There is far too much paranoia around here. If the age old statistic is right... 90% of traders lose, then brokers are really not concerned that you're making money, they have more than enough fodder and new fodder to keep them going.

I've been with IG for over a year now, in that time I've lost money, and made money. You get the usual problems every now and again but stealing your money :LOL::LOL::LOL:

Absurd. I was with Alpari for three years before then, again problems every now and again but nothing to start accusing a multi million pound company of trying to steal my money when the vast majority of people lose money anyway.

I always get the feeling that people cannot accept losses or indeed losing and have to blame all and sundry for the fact they just can't trade.

I mean of course now I'm making consistent gains with IG Index I'm going to start waiting for them to manipulate JUST MY CHARTS and spike me out of positions, lock my platform so I can't trade... hell they might even cut off my electricity or start poisoning my water :-0

The hard fact is, and I've said this time and time again. Most traders lose money, these brokers aren't trying to rob your money, there are enough people throwing money away day after day to make up for the (relatively to IG) tiny sums of money you are making.

Platform freezes are par for the course. Requotes are a pain in the ass, but I always use Order to Open at specified levels (never direct in the market) and have rigid take profits and stop losses. I've NEVER had a requote with IG and only ever experienced slippage twice, once in my favour!

STOP YOUR MOANING AND STOP BEING PARANOID, WE'LL HAVE MULDER AND SCULLY HERE OTHERWISE
 
You nare entitled to your opinion and i also am aware that there are many ostriches out there with their heads in the sand.If you knew the circumstances of my experirence you would first check the details of my trade before trying to be to clever!!!
 
clasgolf said:
You nare entitled to your opinion and i also am aware that there are many ostriches out there with their heads in the sand.If you knew the circumstances of my experirence you would first check the details of my trade before trying to be to clever!!!
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Sorry if it came across as "being clever". Not how it was intended, if anything more anger than cleverness. I get frustrated with all these paranoia therorists out there, and have heard it countless times that's all.

Apologies if I sounded like a smartass.
 
Heres another blog of interest to peruse.Lets be open minded and discuss the pros and cons.Thanks again
 
clasgolf said:
Thats ok.Please read the info on this site for your own interest.http://www.pr9.net/business/financial/3931february.html
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Doesn't really say that much to be honest.

Yep spreadbetting, you're not actually in the market but betting against the 'house' in a virtual market if you like. The prices they offer are near perfect to the actual market though. If there were major discrepancies then the broker would just get Arb'd out of existence.

If you're that worried about it then I'd say go ECN.

I really don't think you have that much to worry about though.
 
Wow. You guys been busy chatting this weekend. FYI my last £1 pip punt Friday afternoon buy 15090 stop 15075 got taken out as cable managed to break through 15080 barrier :( A 20 pip profit was available before retrace but I had15150 targeted so lost out. Not doing these punts anymore.

Hey ho. Anyhow. 8 weeks NT education over and up to speed now. Pot is increased now from shares sold in April and from this morning ditching my risky 4% MM habits as the stake money is getting more serious now!! So back to 2%ish MM for me.

So from today pot is £6k and I'm going £4 pip :eek:

I have made enough the last 8 weeks @ £1 pip with IG using 4%MM and TNT trades, a few punts to give me a profit of £300 which has now been taken out of IG and put into ETX Capital. Like what Pete says about ETX and as i'm now on £4 pip trading having the £250 loss cover for the first 10 trading days gives me a good chance to build a bank.

Stategy for now is £4 pip TNT via £2 pip NT33s and £2 pip INT.

Thanks to all for baring with me..........and my crazy ways.

I have learned loads from all the peeps on here. Good luck all and see you back here in 6 hours!!

M

p.s. Using the weeking bid up acccumulator now too........£10 a pip + here I come!
 
sangfroidFX said:
I mean of course now I'm making consistent gains with IG Index I'm going to start waiting for them to manipulate JUST MY CHARTS and spike me out of positions, lock my platform so I can't trade... hell they might even cut off my electricity or start poisoning my water :-0

Platform freezes are par for the course. Requotes are a pain in the ass, but I always use Order to Open at specified levels (never direct in the market) and have rigid take profits and stop losses. I've NEVER had a requote with IG and only ever experienced slippage twice, once in my favour!
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Imagine a software that can place a buy/sell trade within milliseconds of major news releases... You would be pretty much guaranteed to get on the right side of the news trade at an entry close to the beginning of the move... Well such software does exist... Oracle Trader being one... This software does threaten sb firms profits because they cannot hedge against this quickly enough and it is likely that 50p stakes compound very quickly into something much higher... Dustin Pass the multimillionaire trader (Oracle/RSS trader) and many other experienced news traders will tell you exactly what you have written in the first paragraph does happen to those who are successful - well maybe not cut your electricity off or poison your water :D

On the subject of IG slippage I would say that I suffer IG slippage MOST of the time these days when entering NT orders to open at the point when the actual trade is triggered...
I have watched the price hit the point where my order is theoretically triggered - wait many seconds, sometimes seem like minutes then my order goes in maybe 1, 2 or 3 pips slipped... This delay has nothing to do with good trading or bad trading but everything to do with a laggy trading platform for whatever reason...

Many have complained to IG but IG do not see a problem... ETX is often used as a comparison thanks to the attraction of their opening offer... Nobody has experienced ETX slippage yet even on days when IG do - so maybe the message here is perfectly clear!
 
[Nobody has experienced ETX slippage yet even on days when IG do - so maybe the message here is perfectly clear!]

Agree Melb.. its not just ETX.. even with other brokers I have not experienced any slippage. Only IG is the problem. Once the traders shift away from them in hordes.. they'll get the message, I hope.
 
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