insider wrote:I have tried a few times to use breakout strategies.
It seems that almost everytime I get stopped out, exactly to the pip most of the time, only to see the market reverse and go to the didrection I wanted right after.
This cannot be bad luck or just a coincidence. I really think I should stop giving my money to these crooks...
What type of b/o strategy are you utilizing, & when do you usually look to engage your bets?
Your broker definitely won’t be targeting your individual stop. That's a comical fairy story that circulates these retail boards almost on a non-stop cycle.
The market hunts stops that are collecting & bunched at or around obvious psychological levels, such as key prior swing zones, prior days/weeks high-low levels, & particularly north & south of big figures (00’s & 50’s) especially if one of those big figure levels also include option barrier defenses.
You need to be very familiar with these levels & zones (& how they’ve reacted previously) as the price behaves when it encounters them.
If the move away from one of those zones is aggressive & sharp, that tells you decent bids/offers are defending it.
Depending on what's driving or influencing the current price action, the market will re-test these levels until it's either repelled with strength & conviction, or defensive stops/orders are absorbed & dissolved.