Self taught? Impossible!

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Mike Kshemaraja said:
Leopardo

The forex market is not like the market that you are trading...

Mike
Click to expand...

Only in the fact that futures are traded on a centralised exchange. But other than that, it is the same. For a trade to take place, someone has to take the other side of that order.

Seriously, you have to understand that ANY market can gap. Like I said, don't take my word for it - ask your broker. They will confirm what I am saying.
 
counter_violent said:
Any broker ( i use the term losely:LOL: ) offering guaranteed stops in any market, will be charging a premium in the form of increased spread to the customer etc...all of these premiums that they collect can be used to offset any losses they do incur when they get caught, in the same way we can, on a gap market.

According to wiki, there are 4 types of gaps.


Sometimes they all come at once :LOL:
Click to expand...

Do you trade the forex market through a broker? Well I do and the gaps that you mentioned will not occur during my trading day (7 years).

Will they occur in other markets? I do not know, I do no trade them.
 
Mike Kshemaraja said:
Do you trade the forex market through a broker? Well I do and the gaps that you mentioned will not occur during my trading day (7 years).

Will they occur in other markets? I do not know, I do no trade them.
Click to expand...

Which broker do you use? Do you trade full lots? It sounds to me like you're not trading the actual market, but rather an internal market provided by your broker (and if that's the case, they are not actually a real broker).

Ask your broker if the various currency pairs have gapped during the last 7 years. They will tell you that they have.
 
The Leopard said:
Only in the fact that futures are traded on a centralised exchange. But other than that, it is the same. For a trade to take place, someone has to take the other side of that order.
Click to expand...

Leopardo

Yes, but this is a completely different talk, is has nothing to do with the fact that I am going to lose 200 pips with my broker if I set my SL to 10 pips. I am getting out with a 10 pips loss and that is it.

How my trade is handle is of a completely different conversation. I am not questioning the who is on the other side of my trade. Sorry Leopardo I am struggling to respond to all those post, as you know English is not my first language. LOL.
 
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Mike Kshemaraja said:
Leopardo

Yes, but this is a completely different talk, is has nothing to do with the fact that I am going to lose 200 pips with my broker is I set my SL to 10 pips. I am getting out with a 10 pips loss and that is it.

How my trade is handle is of a completely different conversation. I am questioning the who is on the other side of my trade. Sorry Leopardo I am struggling to respond to all those post, as you know English is not my first language. LOL.
Click to expand...

No problem, I understand that.
 
Why would my broker guarantee my stop in a massive news gap? That's a pure loss on their end. I'd expect them to honour it in any market environment, but not a gap.

I also use Oanda, and as far as I'm concerned when I see price move 70-90 pips in 5s, that's a gap. I've seen it happen on Aud/Usd sometime last month as I recall. Ask Pete, he was there.

And what about currency pegs? Massive gap right there.
 
The Leopard said:
Which broker do you use? Do you trade full lots? It sounds to me like you're not trading the actual market, but rather an internal market provided by your broker (and if that's the case, they are not actually a real broker).

Ask your broker if the various currency pairs have gapped during the last 7 years. They will tell you that they have.
Click to expand...

Leopardo

I use various brokers, some are better than others. You need to keep monitoring them, because they tend to make the "occasional slip" but overall is ok.

I do trade full lots.

As you know forex is not centralise, all the brokers tend to tell you that the market is going thought, but I doubt it, Even with Interactive Brokers is not sure how they handle you trades.

What is important to me is if they are executed promptly in a view of pips (market orders).

I am successful trading with bucket shops? Yes very much so.
 
VielGeld said:
Why would my broker guarantee my stop in a massive news gap? That's a pure loss on their end. I'd expect them to honour it in any market environment, but not a gap.

I also use Oanda, and as far as I'm concerned when I see price move 70-90 pips in 5s, that's a gap. I've seen it happen on Aud/Usd sometime last month as I recall. Ask Pete, he was there.

And what about currency pegs? Massive gap right there.
Click to expand...

Jesus, I am not denying that, what I am saying is if my SL is placed before "the gap", as you call it, I am out of the market at the price that I have established prior.

Sorry is this difficult to understand? or is my English so poor that I need really to do something about it. I am bit confused.
 
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Jesus, people can be so obtuse, now I know why 95% of traders fail, they are so much opinionated and proud.

Sometime I just wonder why I bother.....
 
ChocolateDigestive said:
I am sorry you don't enjoy my posts but you are really making a fool of yourself here, it's embarrasing to read and it's damaging to noobs. I will leave you to Oanda and your 20 moving average. nighty night.
Click to expand...

All my response(fairly) to your posts (that reflect your personality) have been rightly delated, I do not blame them.

But, by now you should know what I think about you. LOL.

I suggest that you go back to your "£50 birthday gift from Captial spreads" LOL.

Arrogance and ignorance are sisters, they go hand in hand.
 
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counter_violent said:
There's no mystery here about market gaps. Just go and do your homework on the subject.
Click to expand...

Well I suggest that you do the same. As I said the forex market is a completely beast from what you trade. I trade only forex and seems that you do not. Cheers.
 
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Mike Kshemaraja said:
Jesus, I am not denying that, what I am saying is if my SL is placed before "the gap", as you call it, I am out of the market at the price that I have established prior.

Sorry is this difficult to understand? or is my English so poor that I need really to do something about it. I am bit confused.
Click to expand...

But this is what we mean. The gap will ignore your SL, and the only exit possibility is where liquidity comes back in.

You'll be out at that price if there's someone there to take your trade, but chances are it's not something to be counted on...
 
VielGeld said:
But this is what we mean. The gap will ignore your SL, and the only exit possibility is where liquidity comes back in.

You'll be out at that price if there's someone there to take your trade, but chances are it's not something to be counted on...
Click to expand...

Sorry mate, is not true. The "bucket shop" is taking the other side of your trade, that is why they can guarantee your SL.

Did it happen to you that your SL was not executed at defined price with a bucket shop?

Well sometime if the movement is so violent, yes slippage do occur, but in a manner of few pips. Slippage also occurs in normal conditions and in any market for what I understand.
 
Willing to bet on that? :p

I wouldn't, personally. A move like that is just too brutal; I'm not about to take any chances at all.
 
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