[PrivateFX]

This is why I use an ECN. I don't have time to deal with non sense games that some of these bucketshop brokers play. Being profitable is tough as it is, why worsen the odds even more with a shady broker?

[icm63]

QUESTION : My EA is fired by the MT4 data feed. So how real is the data feed.

After reading this thread, I am going to place stop loss and limit order price levels in a global variable, and once price >= level fire a market order thru MT4, but if the data feed price is adjusted by the broker ( ie different MT4 brokers having different prices at X time of day), then I am stuffed, ECN here I come. What you think ?

A MT4 global variable will be there if I turn off/on my EA.

[lavista4u]

I had posted this thread a year ago NeckInGold but lost the password and could not recover it unfortunately...

I have learned a lot about trading and stop hunting since then..

The fear of stop hunting will only be when you start trading at first..but eventually it will subsides as you will know about the market better ...and place your stops far enough for any broker to move the price..

When we are low in experience and low in equity..we would tend to place our stop order near to our open price and we generally look at 30M, 1H and 4H charts...but in a years time..your vision will change and when you start placing orders with respect to 1 day charts...you will soon forget about eveything even about who your broker is and you would have gained enough knowledge on which broker to trade your style..

Do not let the fear of stop hunting detest you from trading...trust me..as you grow in forex..the grass gets really really greener ..

you really have to stick with forex through thick and thin untill you will be on top of it...im still learning but it feels good to be where im now

good luck

[jafar00]

You are forgetting of course that since your orders are visible on an ECN, your stops can still be hunted and likely will be hunted by the big money players in the market.

[PrivateFX]

Originally Posted by jafar00

You are forgetting of course that since your orders are visible on an ECN, your stops can still be hunted and likely will be hunted by the big money players in the market.

True but I'd rather have it happen in the true marketplace vs a broker creating fake spikes, etc. My stops aren't too tight anyways so I don't have that problem anyway. I just personally prefer to have my trades executed through a real marketplace. I'm more comfortable with that

[jafar00]

Originally Posted by PrivateFX

True but I'd rather have it happen in the true marketplace vs a broker creating fake spikes, etc. My stops aren't too tight anyways so I don't have that problem anyway. I just personally prefer to have my trades executed through a real marketplace. I'm more comfortable with that

Well, if you have that kind of money, I can agree

spam deleted - Jeff

[sach]

i too believe they are guilty of manipulating the market. In my opinion, they are definately not pass through brokers of the definition we all understand. I have been collecting data of their prices compared to other brokers and other oanda users. i will not say for sure yet but it seems that diff oanda users have diff prices at the same time... spooky! one to pass onto the FSA!

[FXJunkie]

hi all ....

i read this blog and i agree that some of these brokers are bastards, that make winning traders into losers. I myself I always trade with a mental stop, I also place a SL at a large distance for protection for the unexpected that might happen, but its so far away, if the broker decides to take my stop, I will sue the living daylights of that broker ..... so far in the last 2 years it have not happen .....

I also like to say alot of brokers are about to shut down for business or merge with other brokers as the NFA has decide to step in and start taking this forex matter more seriously .... so price manuiplation ... could be a thing of the past as the NFA watchdogs will be monitoring them very closely .... so brokers must be very careful know or they will face the fireing squad ...