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The FX Cartel Has Hit Again

I'm surprised that no one has made any attempt to write about yesterday's big story, which is the constant manipulation of the FX market that has been exposed once again by the FCA.
I guess this comes as no surprise as the dealers and the banks have always kept track of people’s positions and routinely trade against them. Even in the old days, the floor brokers gunned for stops and shared that info with the big players it seems old practice die hard, but as long as the market is a zero sum g
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megajorko avatar
megajorko 13 Nov.

I wrote yesterday a very short blog on this topic. It is very frustrating isn't it?

Daytrader21 avatar

megajorko Now the an regulatory body has exposed them it's making the things look worse than I thought and it's more than just being frustrated, when you thing that it's your money and mine at stake  and you have to deal with all this manipulation

VictoriaVika avatar

So, you are the first who write an article about this story, good!

megajorko avatar
megajorko 13 Nov.

Nobody has laughed at you at least all traders involved in trading for more than 3 -5 years know that there is a stop hunting in bank brokers. The problem is how to avoid being caught by them and is it possible to be on the green for a long term? Otherwise what are we doing, just wasting our time or what?

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Don't Be Afraid Of The Boogeyman

It's fascinating to me what passes for financial reporting these days. This morning I came across a little jewel by Mark Ackerman who once again blames the big bad Market Bogeyman for the fact that equities have not crashed and burned this fall. I guess it's that time of the year again - and no I'm not talking about Halloween. After all October is high SKEW month and how dare equities NOT fall off the plate six years and counting! Be this as it may - we are used to seeing our daily dose of dooms…
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GOLD: Dealer Suing Gold Fixing Banks

German Bank accused. After the Libor scandal the fixing of the gold price comes into view of supervisors. Britain and Germany are currently investigating the process of manipulation. In the United States a trader goes one step further. The five involved in the gold fixing banks are faced with a first action for the manipulation of the daily reference price. The New York gold trader Kevin Maher filed an action at the federal court in Manhattan against the Deutsche Bank and the other banks.
Maher
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Convallium avatar

very interesting... an action at the federal court against the Deutsche Bank!

PPandM avatar
PPandM 6 Mar.

Yeah! It's about time!

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GOLD: Manipulated price possibly for decades

Conspiracy theories on the subject. But now a professor at New York University concludes that the price fixing of gold probably has been manipulated for over ten years. Mainly in one direction: DOWN. An investigation of the London research firm Fideres comes to a similar conclusion .
Twice a day, five banks do the fixing of the gold price. The process is susceptible to collusion and manipulation. It should therefore be reformed urgently. Authorities may have no interest in finding that the gold
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Why do dealers gun for stops?

Very usefull article of former interbank dealer Sean Leewhich give us deep insight of behaviour of big sharks. We must learn this if we swiming in same sea with them.Example of an interbank dealer who is looking at his order book and sees stop-loss orders to sell 200 million xxx/yyy at rates below 1.3700 down to 1.3690. The current rate is 1.3730 say. He has some options: 1. He can do nothing. He waits until the market breaks below 1.3700 and then he starts selling. The danger with taking this c…
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honamkts avatar
honamkts 14 Aug.

goodluck to you

seediee avatar
seediee 16 Aug.

good! :)

Furian avatar
Furian 18 Aug.

last week we were able to see extended SL hunting in almost every pair. Mostly with jpy crosies but USD pairs too. Art of making money during summer poor liqudity. Dealers make huge money with our own money trough orders we leave them regarding range levels. Anonimity about oreders is issue NUMBER 1 in FX spot trading

annatimone avatar
annatimone 22 Aug.

It shows that trading is definitely a skill. Great examples!

Albina avatar
Albina 24 Aug.

Очень хорошая статья

orto leave comments