Is that time again when I'm rambling again about the FX markets and the sh*t going on in the land of the free market on a daily basis. There is no day passing by without to be amazed of the things going on with the FX Market. This time around I took again a long position on EUR/AUD after my first attempt failed to materialize around RBA rate decision, I spoke more about that trade here: RBA Cut Rates
Not to mention that the reaction on the RBA rate decision was absurd and I was expecting for this AUD rally to fade, and again I choose to go long EUR/AUD more because I was expecting EUR/USD to break to the upside, so we had general EUR strength combined with AUD weakness, I decided to give it another try.
So far so good you may tell, but wait, there is more to the story, after I got in this trade the market was already playing in a narrow range and continued to do so until after London Open, when all of a sudden the market decide to turn around and go down slow but steady. As you may guess we broke the support range and the markets stops few tick above my SL..........my first thought was: Geeeee, I think I may get lucky this time, maybe the market will turn back up and I'll be safe............WRONG!!! after it bounced only a few pips 2 hours later the market decided to get another turn and wipe out my SL.
But that's not all, what do you think happens next
after my SL was triggered?.................... it skyrockets 200 f*** pips without even stoping green candle after green candle.....I got again an Instant WTF moment.
Again and again and again, right on the trade but losing money on it. This is the same thing which happened to me in the first day of the month with another trade.
The manipulation going on with this markets is out of this world, some people are so naive and believe so much in the market and its integrity that your head is going to explode. The FX market has already been cornered by the HFT machines and their technique to screw up everyone: spoofing, front-running, stop hunting,momentum ignition, quote stuffing you name it.
Virtu, one of this HFT firm which has gone public and as such they have to release their financials, have published that the primary source of revenue is coming from FX (see Figure 2). That really comes as no surprise as this opaque FX market has become the land of all kind of HFT predators.
Best Regards,
Daytrader21
Not to mention that the reaction on the RBA rate decision was absurd and I was expecting for this AUD rally to fade, and again I choose to go long EUR/AUD more because I was expecting EUR/USD to break to the upside, so we had general EUR strength combined with AUD weakness, I decided to give it another try.
So far so good you may tell, but wait, there is more to the story, after I got in this trade the market was already playing in a narrow range and continued to do so until after London Open, when all of a sudden the market decide to turn around and go down slow but steady. As you may guess we broke the support range and the markets stops few tick above my SL..........my first thought was: Geeeee, I think I may get lucky this time, maybe the market will turn back up and I'll be safe............WRONG!!! after it bounced only a few pips 2 hours later the market decided to get another turn and wipe out my SL.
Figure 1. EUR/AUD 15 Minute Chart
But that's not all, what do you think happens next
after my SL was triggered?.................... it skyrockets 200 f*** pips without even stoping green candle after green candle.....I got again an Instant WTF moment.Again and again and again, right on the trade but losing money on it. This is the same thing which happened to me in the first day of the month with another trade.
The manipulation going on with this markets is out of this world, some people are so naive and believe so much in the market and its integrity that your head is going to explode
. The FX market has already been cornered by the HFT machines and their technique to screw up everyone: spoofing, front-running, stop hunting,momentum ignition, quote stuffing you name it. 
Figure 2. Virtu Revenue by Asset Class
Virtu, one of this HFT firm which has gone public and as such they have to release their financials, have published that the primary source of revenue is coming from FX (see Figure 2). That really comes as no surprise as this opaque FX market has become the land of all kind of HFT predators.
Best Regards,
Daytrader21
