If you’ve ever logged in to an actual forex trading platform you’ll have noticed right away – a number of wonderful options for “entering your order”.
You’ve got trailing stops, market orders, limit orders….then of course the “one cancels other order” – and the ever so complicated “if then? one cancels other order” – just to name a few. Each “order option” complete with its own little drop down menu’s providing you with “predetermined stop values” as well “predetermined take profit values” such as -25 pips, -50 pips etc……
Have you lost your mind?
The vast majority of Forex brokers act as “trading desks” – and in that small amount of time between you “placing” your order , and waiting anxiously to ” get filled” – your brokerage has placed the exact “opposite order” on their own behalf – trading straight against you, and more or less banking on the fact that you are dead wrong.
The “predetermined stop values” and “take profit areas” are seen across the entire platform – and targeted daily!
Ever wonder why no matter how hard you try to trade the smaller time frames / short-term action – you wind up getting cleaned out? Duh! – You are showing your broker ( who is actively trading against you ) exactly the level to hit your stop!
Add this little nugget to the list, throw in the current volatility and complete “gong show” we call the market – and once again take heed.
Do not try to trade this!