Hello again. I just wanted to revisit my post as I this was on the back of my mind for months and I just haven't had the time. If you went through my previous posts and used your mental eye to see the picture I was depicting then that's great. I thank you for reading and maybe you enlightened yourself a bit. I don't want you to start developing a victimized stance in trading. That has no place in your mental state as a trader if you want to become successful. You do need to keep yourself just a little bit cynical as trader.
I've been meaning to post this with an actual visual to facilitate the goings on with a broker and me (and all traders) whether you like to admit it or not. I'm gonna keep it simple but it takes some narrative so you better understand the image attached.
The account is again a small one that I was about to abandon. The date to start is May 5th 2020. My last trade I get caught buying a EUR/USD - top/retrace after the US ISM index numbers come out pretty decent beating expectations by 4.3pts. I let the small position's loss take course and decide it's dead money. I know the nano account is going to close out soon unless there's an act of God. Little do I know it was about to happen but not the way I was hoping. I totally disregard the emails letting me know I'm about to close out on that account. In-fact, I don't even log in and they know it. I have several accounts including ancillary ones as some of you do.
To the picture:
1st red circle around 1.0881 - small blue arrow up is the buy position I am caught in (btw that's a practice for market maker shorts to trap longs on spikes being bought, the real trap was at 1.0900 level. What a retrace in this type of instance is longs pushing up price to get out and Market makers filling in partial fills - did you know this? A lot going on in those spikes) then the price drops back down for the remainder of US session. The price does not rise the next entire day and continues a grind down all the way down for two days to the 9am central time US session, May 7th 2020. The mean time I ignored the emails again of impending close out. Little do I know, that at that time at my brokers low print @ 1.07666, low bid @ 1.07665, my CLOSEOUT @ 1.07668 was at the bottom.
I mean
THE bottom to never retrace up to today. My close out of that position which I didn't even bother to log into or check was THE BOTTOM of the bull run from that point in May that you are witnessing in the EUR/USD to this past Friday (today is Saturday) July 26th 2020. Oanda, my broker's price varies about 1.5 pips from other brokers. Their the only one of two legitimate governed brokers in the US. Their price is proprietary. Meaning the price is not interbank feed and is in-house. Their price is based off their algos - their pool. They are the counter party. I won't go into detail as to their hedging or all that. It's all the same opaque explanation that any broker uses.
Is this just coincidence? It's such a small position why would they even care? I don't have their answers, but I will say that it isn't a coincidence as I've seen too many of these coincidences to believe that. Oanda is one of the oldest brokers and any broker in the business that old you can be sure does not miss a beat and will tie all loose ends. Imagine if that position and account I abandoned was left standing today? They can see that I wasn't logging in and stopped monitoring the position. Is there more going on? After all that I've seen, I think so. I can see it the price as I'm sure some of you intelligent enough to notice that there is more than supply and demand going on. That's why I say always be a bit cynical and always trade when volume is high and set ups are visible to all. Brokers especially the big ones are not surviving off the spread alone and do not take to losing to you as kindly as you think. You are a client until you become a liability and the more clients the better.
I don't piss accounts like this anymore and wanted to show all of you what's really going on.