i dont consider myself as trader, but so far ppl been kept saying forex is biggest market in the world, nobody can move the market price, etc if the statement above held true, why some money manager/retail trader do not disclose their stop loss/take profit level? their intention of hiding is because doesnt want public to know as they will go opposite? this seemed contrary from the idea no one moves the price. this question is meant for majorly traded fx pairs, not exotic pairs
Forex is one of the most heavily manipulated markets on the planet. Every 5 years or so a major bank gets busted and a few bankers go to jail over fixing foreign exchange. It's far easier to fix foreign exchange than any other market since the banks control it by decree, basically. As for stop loss/take profit I would hazard a guess that these things are subjective. If you know with N% certainty you'll set them according to your risk tolerances at the N% certainty level. For me, I might run without a take profit and scale in further. For you, you might want to be out as soon as you hit some predefined level.
Forex used to be good, but these days I trade Index's via a Forex account. Just checked GBPUSD incase it's improved and range is too small and it's too, nothing nothing nothing move, useless!
Not true, the big Market makers, financial institutions and central banks can move the market They would be doing it because they don't want their stops to be a magnet but if they place their stops in places where other liquidity sits, then their stops will be taken out anyway. Retail traders are basically scarred of their broker because they have read posts of price manipulation and seen evidence of brokers introducing fake spikes. Apparently the brokers through their crooked MT4 trading software can extend bars and widen the spread and get to those positions that way. In forex the majority of the brokers (probably 99.9%?) are basically taking the majority of their clients trades in-house so if a broker is corrupt there is a lot of money to be made and although brokers might not be trading directly against their clients positions, their mates in some crooked financial institutions would be. But the big brokers don't necessarily need to pay someone else to do it for them, because their own trading subsidiary could be doing it from the room next door and hiding their identity by being registered in some exotic island tax free heaven. When there is a lot of money at play, there will always be corrupt activity and this applies to all kinds of trading and not only forex.
To whom should they reveal their stops to? Should they come here and post their buy entry and stops? ("Hey world, listen to me, I just bought JPY/USD at xxxx and I have the stop at yyyy. See if you can stop me out!!") Seriously, why should they announce their stops in the first place? For whose benefit? Moreover, why do you even care what others do or not?
if i interpret your sentence correctly, lets say john is a trader manage 500k capital account, he kept his secret about his entry/stoploss/TP level because he doesnt want his trade position to be a magnet to other trader or bigger hedge fund? so by keeping his entry/SL/TP level secret, the chances of market turning his favor would be higher? on contrary side, your first sentence mentioned big institutional can move the market. what is the purpose of big institutional trading the market? do they have same goal as retail trader? make money from the market or their purpose is fixing price to a "justifiable" level to reflect the current economy status? or there is something else? by moving market, i assumed big institutional when trade, the rest of the bigger firm let each other know and they all follow the same direction, thats why market price move? if this is true, did you see john's approach to market is completely opposite to big firm? and the next question leads to all those signal provider and charging a fee for it, why it would make sense charging ppl receiving trade signal if you want the market goes to your favor, u suppose to let more people know, charging fee only let small group of paid cust know, which is the opposite.
Can just one person link to an article about a CFTC regulated broker doing this? Forex traders need to stop trading and take their meds...holy shit. I've never met a more arrogant, entitled, and complete schizo group of people that think the "big boys" want to come after their pissant $2000 100x leveraged account. No wonder no one takes spot forex seriously. The people that trade it need legitimate psychological counseling. I don't have enough fingers and toes to count the amount of people who go on trading forums complaining of stop running at a CFTC regulated broker (such as Oanda) who are trading blind with an overlevered sub $10,000 account. I literally can't take these people seriously. When they win it's their "super system" when they lose it's "clearly stop running". These people need to stop trading and get help.