My Forex Journey #12. STOP HUNT?
Looking at my recent position in AUD/nzd pair, I could see that the market maker has done what his or her best way to make money off the most retail traders who use the "Stop Loss".
Fortunately, I did not set the "Stop Loss" on this pair, otherwise, my position would have been closed with a significant loss.
More puzzling is that why my "Sell" position did not automatically trigger in selling when clearly I can see that the price came down far enough to trigger my "SELL" position to realize a profit since I had a SELL position set there where the market maker bought down the price and brought back up quickly.
This sell position not triggering to make profit sometimes is from the broker's platform having problem or purposely, not triggering the "SELL" position so, broker keeps the money and the Retail trader like me missed out.
I wrote this post to warn you about the manipulation of pricing by the Market Makers ( Big Banks and Institutions) and even by your brokers.
Be smart and keep your eye out for surprises when trading.
David/ hanamana
Amen brother. Retail traders always at disadvantage. Have to work harder than banks and brokerage houses to make money.
Retail traders have to think and act like the banksters in order to make profit. Only 10 % of the retailers make money. 90% follow the crowd and who teaches the crowd by giving free wrong forex educational material and free platform? The banksters and the money makers.