The Forex Noob

With a dealing desk broker when you open a position they take the opposite side, correct? You and they are trading against each other. This human involvement along with the opposing position element has raised accusations of brokers cheating.

I’ve read stories about unscrupulous dealing desk forex brokers who artificially spike a pair to cause you to lose. But my question is do they cause only your chart to spike or does anyone trading with them realize the spike?

If they can only spike one traders chart causing that person to lose it seems that would cause a control nightmare. How many thousands of traders would they have to watch and manipulate?

If all traders experience the spike wouldn’t it make since that some traders would benefit from such an event and so the broker would, in the long run, break even?

I admit I don’t fully understand how this works but it seems that accusations about dd broker spikes to cause traders to lose is a bit hard to swollow.

YIPPEE!!!! We have positive gains!!!

I understand that forex trading is a long term proposition and that the EA’s, robots and droids are meant to earn you profits over time but I was getting discouraged. I realize one good night is not success but it is an indicator that they work.

Let’s get into last night’s action.

FAPTurbo on my FastFX (Fast Brokers) demo account was NOT profitable again last night. Down $95.42.

Forex MegaDroid on my FastFX demo account was profitable last night! Up $280.

Remember Forex MegaDroid runs only on EURUSD so the above results are for MegaDoid on EURUSD and FAPTurbo on the other pairs.

My Forex MegaDroid on my FxPro demo account was profitable last night! Up $123.3.

I”m running Forex MegaDroid on two demo accounts because I am searching for a forex broker to go live with and I want to see how each reacts to the droid. I should load FAPTurbo on the FxPro account to be fair especially since FxPro quotes are 5 digits.

If you have a favorite broker please let me know who and why. I plan to go love this week. You can see what I desire in a forex broker here. I may be missing something important so feel free to let me know.

Thanks,

The Forex Noob