Don't the brokers and banks manipulate Forex though?
Most difficult markets to manipulate
- Thread starter travelingtrader
- Start date
Don't the brokers and banks manipulate Forex though?
Yup, you can take that to the bank...
cj...
:eek:
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StreamlineTrade
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This is not so.
The FX market has no central location. It is in fact several markets/platforms that are distributed. Each market has its own price and liquidity.
All the talk about FX being $x.x trillion dollar a day is simply shill talk.
Its like looking at the total NYSE volumes and then the shills implying it's all done in one stock.
You must take each pair or cross individually. The most liquidity is in the USDEUR cross. This has around 15 different locations to trade at. The ES futures I can GUARANTEE have more liquidity than the largest of those platforms - probably more than the top 3 combined. ES is a baby combined to the government debt futures markets. This leaves FX as quite a weak mongrel.
Due to the respective thin liquidity that FX actually has, it is in fact very easy to manipulate.
The whole point of the FX market is to allow manipulation any how - mostly by central banks.
One trader I know who trades flow for one German bank says the biggest problem their customers have is executing orders across platforms without disturbing the market. That is one reason why he is there.
I'm a new daytrader and I have felt that I was being messed with too on the Nyse, but, later, I analyzed a few things, and of course, factored in the possibility of being messed with. But, if it is not the market makers, specialists, then it could be the trader's themselves. Being messed with at times is the nature of the markets but let me state my opinion.
When you were messed with, what were you doing? Did you see a stock that was going up and down in a 1/4 point range and you said, "cool, I'll buy a 1000 shares, and when it goes up even .15, i'll make $150 minus my $10 or $20 commission". So you buy it, and all of a sudden, right when you buy it, it goes down .15, then .25, then .35 and you say, "darn it", you sell and all of a sudden, it goes back up.
Yea, it's happened to me when I first started out and I was all upset for the day and it seem to happen a couple times. But, then I learned that I was not following my plans, I was not using all the knowledge I learned, such as, time of day, news, markets trending which way, sectors doing what. I was looking for a new faster easy technique. For me, I keep the possibility of "being messed with by the specialists" in the back of my mind as a possibility, but my boucing off the trendline seems to work, then the indicators line up, or close to it and it does what I thought the stock is supposed to do. For me, more knowledge and more experience and being patient works for me. But it is slow and I want it to go faster, but experience only goes so fast. Anyway, everyone is different but 90% of the books I read about the markets and trading contain deception and fakeouts because it makes more money.
Ok, just rambling on a sunday. Good luck. Right now, I have about 3 months live daytrading experience, started with $27000 in capital, didn't lose it, and make between $20 and $200 a day. I know, pretty bad, but I figure, the money per day will increase with experience.
Let me know if you find a predictable market.
PS, of course my best day was around the last day in Feb when google tanked and i shorted it and made $1800 in 72 seconds. I felt like Gordon Gecko for a day.
When you were messed with, what were you doing? Did you see a stock that was going up and down in a 1/4 point range and you said, "cool, I'll buy a 1000 shares, and when it goes up even .15, i'll make $150 minus my $10 or $20 commission". So you buy it, and all of a sudden, right when you buy it, it goes down .15, then .25, then .35 and you say, "darn it", you sell and all of a sudden, it goes back up.
Yea, it's happened to me when I first started out and I was all upset for the day and it seem to happen a couple times. But, then I learned that I was not following my plans, I was not using all the knowledge I learned, such as, time of day, news, markets trending which way, sectors doing what. I was looking for a new faster easy technique. For me, I keep the possibility of "being messed with by the specialists" in the back of my mind as a possibility, but my boucing off the trendline seems to work, then the indicators line up, or close to it and it does what I thought the stock is supposed to do. For me, more knowledge and more experience and being patient works for me. But it is slow and I want it to go faster, but experience only goes so fast. Anyway, everyone is different but 90% of the books I read about the markets and trading contain deception and fakeouts because it makes more money.
Ok, just rambling on a sunday. Good luck. Right now, I have about 3 months live daytrading experience, started with $27000 in capital, didn't lose it, and make between $20 and $200 a day. I know, pretty bad, but I figure, the money per day will increase with experience.
Let me know if you find a predictable market.
PS, of course my best day was around the last day in Feb when google tanked and i shorted it and made $1800 in 72 seconds. I felt like Gordon Gecko for a day.
FredBloggs
Guest
No, but I am thinking of moving back and trading in the Vtrade office there in the Mills building.
September.
those of you that are still on the "markets are manipulated no matter what" tear,
Yes, this is true, but computer matching via CME, etc, is a HUGE step forward.
The days of the privileged specialists and market makers are numbered.
And for those of you who haze me about my 20 years, come trade with me! This is an option I have always had open. Put up or shut up. I can always put in another desk. I never claim to be the best, or put up numbers. I do trade though.
Jay