Forex Brokers strategy

[bryant1962]

Hey,

Does brokers play against your trade? It seems like most of my trades hit the stop loss right at the number of PIPS I set my stop loss to more often then the T/P.

 

[Claudia123]

i bet you use fxcm

 

[bryant1962]

Actually I use FXDD

 

[nartec]

Check your analysis. Why are you placing your stop-loss there. Do you use trend lines, support/resistance lines, fibonacci or ema's . A combination of these will help reduce your problem. Just my humble if somewhat biased opinion.

 

[TheBramble]

Does brokers play against your trade? It seems like most of my trades hit the stop loss right at the number of PIPS I set my stop loss to more often then the T/P.

Have you got another FX datafeed to compare price action against? If you don’t, it might be an idea to do so. If FXDD are way out of whack with other brokers, change brokers. My guess (without any research whatsoever) is they are probably not.

It’s more likely that your system isn’t a winner.

Having said that, your broker will have a view, probably a far better informed view than yours on the likely direction and volatility of most pairs, certainly the majors. They also have an aggregate view of stops, limits and other order types at various levels for their clients. Information you do not have (although I believe OANDA do provide their clients with this data). It would be unrealistic to assume they wouldn’t use that information in considering liquidity for their own speculative operations.

 

[new_trader]

Hey,

Does brokers play against your trade? It seems like most of my trades hit the stop loss right at the number of PIPS I set my stop loss to more often then the T/P.

I trade with mental STOPS and although I don't trade FX, the same thing often happens to me too. I just don't know how they know my breaking point!

Don't be paranoid !