The game is rigged. Sorta!

2:02 AM


It's truly amazing how things worked out. I left my position open last night due to Japanese numbers and a sense that market would move upwards. Closing the trade at the high would have made me about $200

It did, so i went back to sleep.

But when i woke up, i saw the notification on my phone that i hit my Stop Loss, this TRULY AMAZING pin bar as seen in the photo hit my stop levels. Not only did it hit, it went slightly below (closed at +$30 instead of +$50). After went that merry way back up.

To all the new traders out there. It happens, short-term traders are exposed to the big market makers in the industry. (Read the book
"Beat the Forex Dealer: An Insider's Look Into Trading Today's Foreign Exchange" by Agustin Silvani))

One of the benefits of trading with Etoro is it is a Level 2 ECN clearing system so the terrible broker problems like this much reduced (to all the haters! please stop complaining about the spreads, it is a worthwhile payoff!). But things can still happen when you play with the larger market. Pins like this is really the big boys taking your lunch money pushing prices down to hit you where there is a volume of stops.

This is one of the reasons why short-term trading is hard, even when you make the right call, it does not always work out, market sentiment, bigger players then you etc. 

It is like the system is rigged.

But this is why i love the market! Knowing the pitfalls, the intricacies, and all the problems but still taking it head on where others give up.

Stay safe people!

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