Bucket shops????
- Thread starter omegapoint
- Start date
What stock broker was that ?
If you're losing that kind of dough take a step back and reevaluate what you're doing. You wanna know how I learned how to trade........
I knew I sucked ass so I fired up a simulator and bought. It would move against me and I bought again. It would move more against me and I would buy again, and again, and again, until I eventually got one trigger right. Then I went back and studied the difference between the winners and losers and it was as simple as this ------>>>> Patience. Let the trade come to you and be very, VERY selective. Why would you even take a trigger that doesn't give you at least an 80% chance of winning. Forget everything else. If it ain't high quality don't touch it and realize you'll never be a winner if you put your entire line on with 1 trigger and place a stop. That basically ensures you'll just get wrecked by randomness and get beat by the market. Money Management is THEE single, most important aspect of trading hands down!
I knew I sucked ass so I fired up a simulator and bought. It would move against me and I bought again. It would move more against me and I would buy again, and again, and again, until I eventually got one trigger right. Then I went back and studied the difference between the winners and losers and it was as simple as this ------>>>> Patience. Let the trade come to you and be very, VERY selective. Why would you even take a trigger that doesn't give you at least an 80% chance of winning. Forget everything else. If it ain't high quality don't touch it and realize you'll never be a winner if you put your entire line on with 1 trigger and place a stop. That basically ensures you'll just get wrecked by randomness and get beat by the market. Money Management is THEE single, most important aspect of trading hands down!
Only if you play unregulated markets like Forex, or weakly regulated markets in corrupt countries, (read china, russia, XYZstan).
How they do it?
Most people lose money. Most people daytrades with high leverage, so they can't withstand much fluctuation without a margin call (in which all the money lost by the customers goes into the broker profits), so they manipulate quotes to activate the stop loss orders.
Basically they are playing follow the dots.
In depth info at:
http://www.forexfactory.com/showthread.php?t=5809
One guy claims that his STOCK broker banned him from trading, I would like what stock broker is gonna ban you from trading ?! NEVER heard of such a case
Stocks are trading on regulated exchanges and the broker is just that a middleman (he takes a commission), no market maker like in the unregulated forex market where they take the other side of your trades > conflict of interest .
Stocks are trading on regulated exchanges and the broker is just that a middleman (he takes a commission), no market maker like in the unregulated forex market where they take the other side of your trades > conflict of interest .
