Home > Forex > Bad bad timing (or stop hunting?)

Bad bad timing (or stop hunting?)

September 9th, 2010

Just woke up and excitingly checked my EAs performance during the night. Found this (on both my JadeFX and The Collective FX accounts):


That is some seriously unlucky stoplosses. Out of the 9 positions that were taken 7 just hit their stoplosses before EURGBP returned to make the remaining two positions take profit. If this had happened at a non-ECN (and just one) I would be very tempted to think about stophunting. But as it happened at all my brokers I guess I was just very very unlucky.

So, 10% lost of the JadeFX account, resetting the account to 0% growth during September.

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  1. cacus
    September 10th, 2010 at 17:25 | #1

    Happened the exact same situation to me but with USDJPY (stupid BoJ meeting) and USDCHF… Stop hunting is not broker’s but Bank’s actitude lately. I’m starting to think that they are trying to take down Asian session interesting part… So… i’ll keep monitoring next month and if i don’t see a good trend on this i’ll start to think two times before trying again with all my scalpers…
    Banks are doing this again…
    Good blog! Keep it up.
    Good luck.


  2. September 10th, 2010 at 20:54 | #2

    Stophunting on the open market should be a high risk venture and not anything I expect any bank can do too often. Other banks (and individual traders) should pick up on it fairly easy and exploit it if it would become frequent. When a dealing desk does it is risk free of course (as they also widen the spread and do requotes), but moving real inter-bank prices is another ball park.

    Perhaps one should preempt them and write a strategy to exploit it thou. A sell order at 15 pips above Sydney open would have been nice this night :)

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