1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Suspicious Spike?

Discussion in 'Beginners Bootcamp' started by MKJones, Feb 4, 2019.

  1. MKJones

    MKJones Recruit

    Joined:
    Feb 4, 2019
    Messages:
    1
    Likes Received:
    0
    I don't want to name a particular broker as I'm fairly new to this game and could be well be mistaken, but even so the spike I experienced on Friday evening a few minutes before the markets closed seems highly suspect to me. My stop loss was miles from the price but the spike still managed to reach it and close the trade (closed my trade at 10786.2). Is this 'normal' for a currency pair to behave in such a manner? There was no sign the currency pair had behaved like it previously.

    [​IMG]
     
  2. EURUSD

    EURUSD Sergeant Major

    Joined:
    Mar 3, 2015
    Messages:
    1,113
    Likes Received:
    39
    I think you can try to compare with another broker platform, because broker that Included as a market maker, I often hear if they use stop-loss hunter software, and maybe spike movement occurred because they as market maker broker, which as dealing desk broker will getting profit if trader loss
     
    MKJones likes this.
  3. Esannniki12

    Esannniki12 Recruit

    Joined:
    Oct 31, 2018
    Messages:
    16
    Likes Received:
    3
    MKJones, I was just checking on my chart and it seems that it really happened. Don’t blame your broker. Such strange moves happens from time to time either because some dealer inputted wrong quote or there was some unexpected news and swift market reaction
     
    MKJones likes this.
  4. Qasim waqar

    Qasim waqar Private, 1st Class

    Joined:
    Jul 27, 2017
    Messages:
    40
    Likes Received:
    4
    Such spikes happen sometimes due to high impact news that make the market move so fast and some brokers also manipulate this news release a bit to hunt most of stop losses.
     
    dylanjessop likes this.
  5. dylanjessop

    dylanjessop Private

    Joined:
    Feb 7, 2019
    Messages:
    10
    Likes Received:
    3
    Or market maker moves
     
: spikes

Share This Page