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  #1 (permalink)  
Old 11-11-2008, 09:55 PM
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Default forex broker not honest

I have been using some forex brokers with MT4 trader.

Looks like they are not very honest.

when trend is on my way and profits coming in , the figures jumped very
slow.Then went down super fast.

when trend is against me and losses coming in , figures jumped double fast.
Took long long time to get back to recover the losses.

can mt4 trader software be manipulated ?

can recommend some good honest guys in the forex broker market ?

thanks for advice
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Old 11-11-2008, 09:59 PM
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Default Re: forex broker not honest

Forex discussion seems to leak onto this site - prob. doesn't belong, however, all brokers are in it for the money... check MBTrading and Royal - it's the nature of forex for your losses to accelerate as fast or faster than your 'profits' which are not real until you REMOVE them from your account. Prob. should close this thread.
Much like a casino - you don't know if you are a winner or a loser until you get on the airplane and LEAVE that zone.
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Old 11-12-2008, 01:34 PM
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Default Re: forex broker not honest

I post here because I want to find out from computer guys whether the MT4 software
can be "handled" by the broker so that the trader is losing all the time.
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Old 11-12-2008, 01:54 PM
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Default Re: forex broker not honest

It's not the MT4 software that's at fault, it's the data feed from the broker.

There are only a handful of relatively honest forex brokers so go for longer term trades to iron out any potential dishonesty on their part. If you're scalping you're really asking for a smacking.
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Old 11-12-2008, 02:45 PM
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Default Re: forex broker not honest

Forex brokers tend to 'play' with your positions... It's their sneaky way of giving you commission-free trades but getting some profit out of your positions.
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Old 11-12-2008, 03:06 PM
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Default Re: forex broker not honest

Quote:
Originally Posted by freller View Post
It's not the MT4 software that's at fault, it's the data feed from the broker.

There are only a handful of relatively honest forex brokers so go for longer term trades to iron out any potential dishonesty on their part. If you're scalping you're really asking for a smacking.
Nice post... I think you have pointed out a very good concept - the problem is when scalpers are out to make a few pips, and suddenly the volatility goes off the charts - you can lose several hundred/thousand pips in minutes lately... recently the gbp/jpy moved 2k pips in one day. Some must have made bank, but many must have lost their a**es.
To take a longer term position requires a lot of steel (nerves)... that's why so many end up losing so much so fast... how many times were you in the right trade (direction), but got out too soon... ? That's what I thought... really often.
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Old 11-13-2008, 04:41 AM
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Default Re: forex broker not honest

how they do it ?

when i am in losing position , the losses stay there .

every time when i close the trade and get out,everything is fine. profits will come in
but i can only see it cannot get it.

everytime i enter trade , everything seems to go against my way.
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Old 11-13-2008, 04:51 AM
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Default Re: forex broker not honest

Yes, I too noticed that... it's as if they are waiting only for YOU to enter the market... and they cut your head off. Would be interesting to place a trade ONE long and the second Short, from two accounts, at the same time... and see just what happens.

Sometimes it's the bid/ask that they MANIPULATE to trigger stoplosses or people with super meager TP like +1 pip... they like to clear all that fluff out before the big move. So you cannot expect to hold onto this bull with the traditional ONE hand... you've gotta use both legs and your arms... or they'll knock you off everytime... taking the spread and whatever else they can get.

The other option is always do the exact opposite of what you are thinking... chances are a majority is thinking thinking like you and the majority MUST feed the MINORITY in forex... jeez this really has gone down a lot, I shoud go long and catch the upswing... wrong again! Just look at gas prices in the US - they spiked irrationally high before the drastic turn around... the forex does the same - just quicker... like 3 to 4 day cycles.
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Old 11-13-2008, 06:02 AM
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Default Re: forex broker not honest

All forex softwares have their own tricks to get additional pips for the owner..believe me...
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Old 11-14-2008, 12:58 PM
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Default Re: forex broker not honest

steal one or 2 pips from us is fine, but if most of your open orders are usually in negative figures
and stay there for a long time without recovery , and if open order postive figures do not stay there but went down super fast , then something is wrong.

sometimes i close the order and made a reverse postion, you know what ? the outcome is not reverse. Then i stop the order again and went back to the same position before , the
outcome is same.

looks like someone is following us ................going against our every move......

any honest broker around ?

Last edited by blackwhite; 11-14-2008 at 01:03 PM..
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