Could Someone Become Rich By Forex Trading? - Lets Discuss - page 5
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I wonder if brokers are so evil and trading with no profits then why are we still in this forum?
Trading is easy compared to other disciplines. Perhaps for this reason this business is run by a few. The problem is your broker.
According to my limited experience as a retail investor operating with small accounts, your chances of being rich are zero. When your broker realizes that you are able to make money with this, your account will start to experience weird poltergeists. Remember that you are accepting all risks.
you all guys have talked in pure English didn't get what are all talking about? my F##%#%##@! English!
Heard That too, after making huge profits, brokers give stuck you in problems.. i don't understand why they do so?
but if its chargeable after giving it for free, subscribers will move to new free and good signal. they won't pay its my personal opnion
Trading is easy compared to other disciplines. Perhaps for this reason this business is run by a few. The problem is your broker.
According to my limited experience as a retail investor operating with small accounts, your chances of being rich are zero. When your broker realizes that you are able to make money with this, your account will start to experience weird poltergeists. Remember that you are accepting all risks.
I agree, when you start making money, the broker will be alerted, but keep inmind, they want to collect the spread fees, so when they start to hold the price feeds in your account, to stirke your stop before releasing the orders that push the market, you will need to adjust your stops, and take more risk. You better be right about the direction the market will go, or you lose.The broker can only go so far, or risk a fraud investigation which is a huge cost and hassle. They will try to avoid it. Any business can play the game of treading the line of integrity, and fraud. Your ace in the hole is to know where the market will go, monitor your orders, and report suspicious order execution to the broker first, and may be to the regulators. In a recent trade of mine, the market came within one pip of my stop then turned, and hit a 80 pip profit target. The brokers do not always sniff out stops. So you can get rich, if you can out perform the market, and the broker.
If someone believes that brokers are "sniffing" stops, and still continue to trade, it's simply a fool. If someone knows that a broker is "sniffing" stop, he has to complain to regulators.
If someone believes that brokers are "sniffing" stops, and still continue to trade, it's simply a fool. If someone knows that a broker is "sniffing" stop, he has to complain to regulators.
I disagree, If a broker sniffs stops, the strategy can be changed, either no stop is set at all, or a higher risk stop., For example my stops are usually 10 to 15 pips, if the broker starts to sniff, I could change to 50 pips and monitor broker price feeds via a third party. If the broker cheats I have proof and can collect via a law suit, plus inform regulators, or threaten to, to get a fair resolution. In business I think it is required to have systems in place to protect yourself from potential fraud, and to have the data, to back up claims. This way it is more likely to prevail in litigation. This is required unfortunately, as we do not live in a perfect world, so many people are dishonest. An example is, a certain broker was recently sued by regulators for unfair slippage practice, all victims recovered losses. There are many such law suits that cost brokers much money for cheating clients, and/or manipulating systems. They are required to pay restitution and fines. You may come out ahead. One doctor sued for damages, and came out with $27 mill. on a $100k account.
I do agree to informing regulators, it helps get your fair resolution.
Non-Sense. All speculations and no proof.
What does the broker have to gain by Stopping you out? Answer= The Spreads.
What does the broker have to gain by Not-Stopping you out? Answer= The Spreads.
So why Stop you out and risk Millions in fines and lose their Business? .............
If a Broker is a Market_Maker and holds the other sides of your trades .... Then you can say there's a Motive. If someone have such broker and believes the broker is cheating then move unto an ECN Broker, Contact_Regulators and Sue_for_Millions. Do_Not play Cat_&_Mouse with a Cheating Broker who have all your deposits in his hands.
Remember: the Broker isn't your enemy, they're your Business Partner. They charge you the Spreads/Commission the rest is between you and the [5_trillion daily volume] Forex market.
Non-Sense. All speculations and no proof.
What does the broker have to gain by Stopping you out? Answer= The Spreads.
What does the broker have to gain by Not-Stopping you out? Answer= The Spreads.
So why Stop you out and risk Millions in fines and lose their Business? .............