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Stop hunting brokers
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Created: by shark505 Attachments:0

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Stop hunting brokers

  #11 (permalink)
Trading Apprentice
NYC, NY
 
Futures Experience: Intermediate
Platform: CQG, WindoTrader
Favorite Futures: grains
 
Posts: 12 since Jun 2014
Thanks: 0 given, 5 received


shark505 View Post
I was wondering because "99% traders lose money" and yet the brokers seem to have a long existence. And most intraday strategies I've backtested (1m/3m/5m) rarely get me above 50%win rates, and brokers trade continuously at that!

So, they could use customer into and market correlation say trade large size $ZN-F (sometimes just showing large size is enough) to move bid/ask prices around and take out a 6tick stop, esp on $NQ etc .. we keep hearing NBBO getting crossed on trades.

But anyways, I'll not waste more time on this line of thinking . Thanks Mike and switchtrading

a broker is nothing more than a bookie... he simply takes your bets and makes money on the spread... same thing for the exchanges... you can think of a broker as the dealer in a poker game and the exchange as the house hosting the table game... they all take their percentages... you are playing against other players, not the house or the dealer.

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  #12 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,621 received

The market in general is a stop hunting machine. If you get stopped out someone else gets paid. Point blank

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  #13 (permalink)
Trading for Profit
Birmingham UK
 
Futures Experience: Intermediate
Platform: Meta + TradeInterceptor + FXCM
Favorite Futures: DAX ( GBPAUD if moving )
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received


It's a myth bad traders which set bad SL positions use to pass the blame onto someone else.

Yes they ( banks ) know where retail stops are going to be ( in the 1000's ) and yes they hit them right before a reversal, just to play with your minds and make you make more bad decisions. Yes it annoying when that happens to me.

But it's not your broker never worry or accuse them for that.



It works both ways, if you work out where the retail SL's are likely to be well that's where you get in

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