[Trader's Handbook] Draft articles, "out of pocket" discussions - page 24
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The whole modern economic system may well be judged as absurd within a certain logic.
You apparently did not understand from my writing who you are dealing with when you trade on FOREX. It's all very simple.
If I make a loss on a non-market quote, the bank makes a profit. It does not care that the quote was not marketable. I was the one who initiated the deal. I was offered and I accepted. You can sue, of course.
If you trade in marquee or stop-loss trades, you will be heated on non-market quotes when they are unprofitable. And you can sue all you want. But if you only trade limiters, then non-market quotes can only give you profits.
If I make a profit, the bank makes a loss. And if the bank suddenly sees that its quote was highly likely to be off-market, it announces that it is cancelling the result of the trade, notifying the broker of this. And it doesn't matter at all how you feel about it.
Believe me, as soon as you make, say, $100K in a few hours - you can expect similar statements from LP. The insolence is not just absurd, it can sometimes go off the scale when they cancel all the trades for many hours saying that they were all off-market. And a simple trader, if the broker doesn't stand up for him, will just lose out. And the broker may be interested in protection only if ideologically he sees a different way of players' relations and promotes it, pushing the naked PLs by innovative organizational and algorithmic approaches in their work. That is, if the broker sets a global goal of destroying this hornet's nest.
Such new players are not liked, to put it mildly, because they break established patterns, standing out from this ubiquitous institutional FOREX manipulative swamp.
Believe me, no one will just undress the banks like that. But they can still be curbed.
Look carefully at the section on ECN/STP metamorphosis.
I understand perfectly.
I am interested, in this case, in outside experience.
And, perhaps, with such questions, I want, at least, to start, somehow, a dialogue with the community about the double standards of this "hornet's nest", as you put it.
Outside experience - e.g. public data on the forums mentioned above.
And then there is indirect experience. The first thing LPs themselves ask is what is the turnover. Then they ask about profitability. A simple thought arises, if they earn only from the turnover, what difference does it make how the trade is done in general. Many people are afraid of arbitrage. Otherwise they are not happy either.
The best clients for institutional FOREX are almost all retail brokers: great quality meat.
In my opinion, only publicity. On the forums to put up all sorts of cases related to the machinations of brokers (they don't let us near the LPs). Between us (traders) and the banks (LPs) there is always a pad (DCs), which, if anything, can be sacrificed to save a bigger bank (LPs).
We are brainless meat to them, draining deposit after deposit.
If we start to publicize the outrage the broker is engaged in, then the broker in question will start to lose clients and will think twice. I think there is no other way but publicity.
In my opinion, it is useless to talk (it has been almost 20 years) and the talks are the same - about honesty and legality, the result = 0.
It is necessary to go to the exchange to trade, if there is a goal - to really make money.
It is still possible to make real money in FOREX. There are only (for any market) two practical ways to make high returns: MM algorithms and arbitrage.
There is also a third (theoretical) way - but I don't know anyone, not at all, on the exchange or in FOREX.
If you are not earning highly rotationally, however, you will have almost no problems in any market.
An article that explains the workings and organisation of classic aggregators in a simple way.
Perhaps it will help someone to finish the puzzle in their head.
Stupid million percentages, interviews, crafts and piles of posts all do nothing to motivate most people to engage in lyknobes.
Perhaps it's time for the heavy artillery of motivation. Break the pattern en masse.
It's a strange idea. We'll see how it goes.
This is just a motivation project (launched), no additional information. Practically all the background information has already been laid out here.
People just don't want to know (learn) anything, unfortunately. So if there is any interest to see, then as a sociological study on the subject of inducement to curiosity.
In principle, anyone who cares about the general level of knowledge on near-trading topics can simply provide a link to a libretto where they see fit.
One can not only be a writer or reader, but also contribute to the dissemination of knowledge.
P.S. As for my writing, I disclaim any copyright - bullshit. The main thing is to get the point across.