Trading against newbie traders

[fxtrader777]

Me and my friend were discussing what were Broker's main manipulation means. We discussed one of them and got following idea.

The statistics that 90% of traders are losers is permanent. Furthermore almost 95% of newbie traders are losers and even in short term.
You often see that on Brokers' website there is a blank to fill and indicate what trade experience do you have. If you indicate that you are new to forex I can say for sure that broker will trade against your account.
Let us assume that there are 10 traders. They are new to forex.
When these traders trade broker is trading against them. The main mistake that newbie makes is that he is taking small profit and let loss to run with reversal hope. Taking positions against such traders will lead to a profit. In any case probability is very very high. I think this is one of the parts of brokers' income. It is easy and evident.
So what is an idea. To be ethic and right you should give small amount to a newbie trader and ask to trade it, you must make him trade under pressure. He must be fearful trader. On the other hand you can open an bigger account and trade against him. After his small account is burnt you are winner. Example: give hime 2000 (10 000 lots) and trade with 20 000 against him. the possibility is over 90% that you will stay winner in long term

what you comment?

[MickMason]

Originally Posted by fxtrader777

Me and my friend were discussing......

I think the time would have been better spent down the pub!

You and your friend couldn't be more wrong if you tried


Mick

[fxtrader777]

Originally Posted by MickMason

I think the time would have been better spent down the pub!

You and your friend couldn't be more wrong if you tried


Mick

LOL are you broker representative

[MickMason]

Originally Posted by fxtrader777

LOL are you broker representative

LOL, no

[snow]

Newbies will lose regardless ....all the brokers do is provide enough rope , in the form of leverage.

[fxtrader777]

Originally Posted by snow

Newbies will lose regardless ....all the brokers do is provide enough rope , in the form of leverage.

so trading against them will bring profit easilly

[sole]

Only person repsonsible for your trade is yourself. Only losing traders blame their brokers or the markets.

I don't trade against anybody. I trade against myself because the biggest enemy is my own psychological makeup. Of course am I aware of what every newbie is watching and therefore I will exploit that. Newbies can short a head-n-shoulders neckline. I will be out of most of my short position by then.

Newbies will short new lows. The markets usually break the low by 3-6 ticks just to reverse. Newbies play breakouts. Professionals play pullbacks and retracements.

Not much futures traders in here? I see tons of posts on forex but not much on index futures.

[fxtrader777]

Originally Posted by sole

Only person repsonsible for your trade is yourself. Only losing traders blame their brokers or the markets.

I don't trade against anybody. I trade against myself because the biggest enemy is my own psychological makeup. Of course am I aware of what every newbie is watching and therefore I will exploit that. Newbies can short a head-n-shoulders neckline. I will be out of most of my short position by then.

Newbies will short new lows. The markets usually break the low by 3-6 ticks just to reverse. Newbies play breakouts. Professionals play pullbacks and retracements.

Not much futures traders in here? I see tons of posts on forex but not much on index futures.

I think no
Pros do not play retracements so often
the hope of reversal is characteristic for newbie traders and they often play it.