I'll see if I can find the thread and the guys username, I'll post a link here when I do (assuming it hasn't been deleted of course)
Ok, I'll let you in on my skeleton in the closet that I'm embarrassed about, I used to trade a clients account at Oanda. This particular client had traded his own account for a while and lost quite a bit of money and he asked me to trade it for him to get the account back up. A dozen or so overleveraged very short-term profitable scalping trades later every time I placed a trade I got disconnected for a minute or two. I couldn't complain because it wasn't my account. As soon as I started placing 'normal' trades everything was fine, then when I went back to scalping with 1 and 2mio I got the same problem again. For any other broker I would say fair enough, they're bucketing my trades and don't like scalpers, but Oanda claim to be STP and they make a point of saying they don't trade against the client. That, together with all the other lies makes me highly suspicious about their honesty.
And that's cool. I don't get my panties in a bunch when people claim to be suspiscious of any broker, for whatever reason. Even if they have experiences that back up those claims, they have a right to trade with whatever broker they want. It's when people come to the forum and call them (or any other market maker) a scam, a crook, take your pick of insult. Because there are a lot of us who trade every day with them and have no issues whatsoever (other than the annoying disconnects).
Well they are scam crooks, I would have thought that was quite obvious, or perhaps you're telling me all these issues are pure coincidence, lol. While there are naive and gullible people around there will always be brokers like Oanda, the smart ones find an honest broker and try to warn others, it's up to the individual whether they take any notice or not. But you're right, it's your money and you must spend it anywhere you please. Anyway, here's that link: http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=17;t=003008#000011
so there was 50 pips down on eur/usd Cable! It would have been unwise to buy then Now, I think it will go up about 70-120 pips... but put a stop loss 20 pips lower FOREX BROKERS ARE SCAMMERS, IF YOU DENY, YOU EITHER PLAY TO SHORT, EITHER ....SOMETHING
That was an excellent live call, I'm impressed (and no, I didn't trade it long!) That's the way to trade, forget 1-5 pip scalping If you trade the European session (Poland is in a great time zone, you get an extra hour in bed than us in UK!) you can take 50 or 60 pips before breakfast then leave the market and fundamentals (news) to do whatever they like because you've already got your money, it sure beats staring at screens all day scalping that's for sure.
guess, what this SOMETHING is just think about it - we are all human beings - if You had Your constant profit from spreads but also had an oportunity to cheat a little bit an earn additional % (30, 300, 3000 ??? I don't know) from Your monthly money, wouldn't You? If no one could ever punish You for this, because no one knows exactly, what's happening inside with the clients deposits, wouldn't You cheat a little bit to get some more money from those naive clients??? Me not, but most of You (although will neglect inside) would do it! So here comes the punishment! Most of You will loose money on FX. Most of the clients are to lazy to make some investigation among thousands of forums to find out, what it is all about. They are so stupid to think, that that is all about selling high and buing low. But These thousands of clients, during a longer period of time will have an awaited averege trade profit equal to 0.00000 pips. But they will constantly loose money because of the spread. Some will loose more - because of emotions and a bunch of 5% of dilligent players will make money. But if they make it to fast, a broker will force them to quit. That's how it is.
I'm not quite sure what you just said but right on bro! Listen, 50 pips on a short eur/usd don't make you Jesse Livermore but it's a step in the right direction