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Is IG doing a stop Hunt???? Please check the attached Screenshot?


Guest PRABHU

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Please make sure you are looking at the corresponding bid / ask price. 

Just checked this and on EURNZD at the time of the trade (32 mins past the hour- N.B. my time shows 14.32 whilst your shows 17.32 due to time differences) you can see the highest price was 1.68762. You can also see that the market continued to move against you after this time breaking well into 1.68780

I hope this resolves your query. 

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2 minutes ago, dmedin said:

Yes will keep looking at it - I won't trade on 1 minute charts though personally, 15 mins is my lowest.

1M to fine tune your in and out point.  If it's been running for 1 hour I'll use 15m to get a feel of it.  if it's been running all day I'll use 4h and 1h.  If it's weekly I'll use Daily and 4h.  But i'll always use 1m to place it.

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5 minutes ago, dmedin said:

Wait and see if it can push back up into the gap ...

Yeah i reckon there's a good possibility .  I think it was a Knee **** reaction to news.....So it could recover quite well.

about 1k to be had if it does if you can afford the risk.


Either way I'll keep an eye on it.  that's me done for today I think.  Missed my £100 win earlier on Russell 2000.  Took a £4.50 hit now - £30 too.  My loss limit for a day now is -£25 so I'm out.  

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3 minutes ago, dmedin said:

Riding it up and down is tempting but I think it's safer to work out the underlying trend and only trade in that direction (so if it's down, trade when it bounces and starts going down again; etc).

Why don't we work a chart together and see what we both think and compare.?  Maybe we're making the same mistakes?

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41 minutes ago, nit2wynit said:

Not sure i agree with this.  Having a Limit is the same as having a Stop!.  Otherwise like you say, you'll end up thousands down.

I went against my gut this morning.  Russell 2000.  Normally I'd ride it up and down.  £80 to be had or more.  Decided to go Long instead.  I was up £20 at one point where I'd normally take profit then go long to ride it back up and down etc.  Made nothing .  Lost £4.50 haha.

 

Riding it up and down is tempting but I think it's safer to work out the underlying trend and only trade in that direction (so if it's down, trade when it bounces and starts going down again; etc).

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15 hours ago, dmedin said:

Giving yourself such an ultimatum won't work out.  Should have stopped myself a long time ago. 

Not sure i agree with this.  Having a Limit is the same as having a Stop!.  Otherwise like you say, you'll end up thousands down.

I went against my gut this morning.  Russell 2000.  Normally I'd ride it up and down.  £80 to be had or more.  Decided to go Long instead.  I was up £20 at one point where I'd normally take profit then go long to ride it back up and down etc.  Made nothing .  Lost £4.50 haha.

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On 07/08/2019 at 18:48, dmedin said:

Somebody please stop me ... I'm addicted to something that is hurting me!

Unfortunately.  I'm about to quit this.
 

I've given myself a £200 loss limit.   This equates to £1400 loss since March.  (not a lot considering I've lost that in one day before trading cars)   If i lose it, I've retired.  As has been stated; it's the time of quitting where you need to stick with it, or the loss is all for naught.  However, i will really need to take it back to page 1 and actually study this instead of simply punting if i want to continue in the future.  Ignorantly, but not purposefully I've still not watched the entire Academy vids.  This is surely addictive.

One last time I'm going back to the Demo.  I'm going to do what I thought gave me the best returns.  Using my entire Margin and being sure about my turning points.  Short stops, short runs.  2.1 PL.  I have roughly 8 trades left in me at £25 per trade risk.  If i lose £200 this next week, I'll be looking to return to study.  If i make £200 I'll keep going.

@dmedin  I've not found them myself, but there are forums where trading ideas are shared openly.   Maybe we need a fresh approach.

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There's a couple of straight forward points here:

(1) If you don't trust your broker don't trade with them.

(2) When asking if there are stop hunts, don't ask if it's IG doing a stop hunt, ask if it's the market.  Unless you see the IG price differing somewhat from the market it isn't IG's doing.  Do a bit of research on Google on this; there are some seasoned traders who can verify that institutions know precisely the psyche of retail traders and will play it.

(3) On all time frames when trending up the market tends to move -N and then +(N+M).  When trending down +N and then -(N+M), where M<N.  Since traders are mostly taught to have positive R:R, these two facts inevitably lead to trades getting stopped out on all time frames unless your entry/timing is pretty good.  Seems you would need to have very good entry criteria or the ability to spot and run with momentum.

I'd recommend procuring/purchasing some tick data for either an index or forex pair and getting real up close and personal with it.

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I cannot count the amount of times my Bid price becomes either Support or Resistance.  However, it has been observed many times across the internet that Stop Hunting does indeed exist.  Whom is doing the Hunting is not yet clear.   It's possibly just a Novice Punter Myth.

What i can say for sure is that If I leave an incredibly large stop, I don't get stopped out, unless i get the direction wrong.  However, I don't leave incredibly large stops. :D

Look at Weight Watchers.  How can you mess a Long Trade on the Bull Flag.   But i did.  3 small ones adding up to -£9........ Stopped me at every point and reversed.  I'd make more money betting on where I'd get stopped out lol.

Point being........Yes, if you don't allow for Bid/Ask Price then you will probably get stopped out.   Also be aware of the spread.  We all see the same charts, therefore so do the Bulls and Bears.  they know where to look for them.   The amount of punters who are over protecting their Stop losses is testament to that.  Me being one of them.

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3 minutes ago, dmedin said:

Are there people out there willing to string you along, making you think you can be a successful retail trader, while doing their best to get your money into their bank accounts?  Why, yes - there are.  What a surprise!

the party that wins when you get stopped out is the party that took the other side of your trade rather than the broker that just paired you up, and yes, I suspect they will have had a better education/more experience than the average retail punter ☹️. There's the problem and the solution right there.

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