Manipulation question.

Discussion in 'Forex Brokers' started by flakac, Apr 23, 2005.

  1. FredBloggs

    FredBloggs Guest

    are you for real??

    this is like charting msft and trading orcl!!

    dont take this the wrong way, but you really need to get a grip of what you are doing here, what you are trading, and learn about the fx industry especially the retail end.

    you clearly havent done the ground work yet.

    tsk tsk tsk
    #11     Apr 25, 2005
  2. tomcole


    If your spread is 3-5 pips, thats insane. Most banks narrow for tiny amount - not widen out.

    Just to get you to trade some banks will give you a choice market.
    #12     Apr 25, 2005
  3. Funniest thing what happened for me was when the Fx "dealer" manipulated afterwards their charts so that they could explain why my stoploss was activated.

    But I was quick and I saved print screens about what happened. I sent the evidence to the support explaining the manipulation. At this point they couldn't find any thing against me so they said:

    We cannot guarantee that our chartting application will show you reliable data and if you are not satisfied we can easily close your account and return the funds for you.

    Soon after that they announced that they cannot guarantee stops anymore.

    Duh! that was enough for me about the Fx dealers;)

    And this is all legal. Because of the structure of the forex it is possible to do allmost anything with the clients.

    Also they cancel trades when trades goes against them. It is very messy business.

    I REALLY DO NOT recommend anybody to trade through these Fx "dealers".

    Trade futures and you have lot of more change to be succesfull.
    #13     Apr 25, 2005
  4. joe92117


    ”this is like charting msft and trading orcl!!”

    Fred, that’s a little bit of an exaggeration - don’t you think?? It sounds like you’re the one that needs to get a “grip”. My method works great for me since I’m not a scalper. I hold for several days, so it doesn’t really make a much of a difference. I just like Oanda better and haven’t gotten around to moving my account yet.
    #14     Apr 25, 2005
  5. FredBloggs

    FredBloggs Guest

    why bother moving your account?

    the business model will be the same and you will get screwed regardless.

    the post above yours tells the whole story.

    if i were you, id stop reading et and start spending your time learning about this business. it will pay dividends.

    dont mean to be harsh - but hey, its your money, do as you like.

    good luck
    #15     Apr 26, 2005
  6. sprstpd


    First off, I've never traded Forex.

    If Refco's quotes (or anybody's quotes) are purposely manipulated, can't you arb them against other places? Or is the spread too much to overcome?
    #16     Apr 26, 2005
  7. no....not fungible
    #17     Apr 26, 2005
  8. sprstpd


    Get long in one account, short in the other. Then close both at a later time when the quotes are more normalized. I guess you give up too much on the spreads to make this viable?
    #18     Apr 26, 2005
  9. you are just going to be long the pair at one broker and short at the other is not like in the interbank where you wld send your euros to Chase and be closed out...on the retail side you will need to close the posiion at and the fixed spreads will likely eat any profit
    #19     Apr 28, 2005
  10. tomcole


    I think you can also EFP either way, cash into futures or futures into cash - it shouldnt be a big deal for your broker
    #20     Apr 30, 2005