Stop HUNTERS. Brokers who hunt stop losses

[jgerousis]

The tip today will be on how to deal with stop losses stop orders hunters. What I mean with hunters are brokers who hunt for your stop losses. I have received many emails people who use to follow the up with my live trading orders results complaining that their brokers have triggered some orders on their platforms but not on my platform. Although me them had the same orders' numbers yet the low or high of their broker differed or spiked by 2-3 pips more than me. In some cases it reached 10 pips.

Unfortunatly this is a very difficult situation to deal with. it will surely cost you a lot of money. But here are the steps you should take to try to solve it:

1. First of all if you feel that your broker is hunting for your stops then you should open an account at another broker start comparing your broker's lows highs with this broker.

If you still feel that your broker is really hunting for your stops email them explain the situation provide evidence (the other broker's lows highs)

If your broker does denies this or never tries to hear or solve this then the only solution is to change your broker.

2. Another act you could do to make sure that your broker is ht is to always add 2-3 pips to your orders. This method was found useful by some traders I advised to. For example if you use hans123 your order looks like this BUY GBP @192.10 SL 191.75 TP 193.30. Then make your order like this BUY GBP @ 192.13 SL 191.72 TP 193.33. This will surely save you stop hunts because it will be very wide for your broker to make such a spike the difference would be between his high other brokers high would be wider clearer. this method would also save sometimes false breakouts. However the drawback is that you pay more pips for this protection. However one the traders found a solution for this by using one of my older tips when he closes the orders at 23:00 CET he tries to save himslef 2-3 pips using my older tip thus he is re-gaining what he paid before.

3. Putting mental stops. Which means you actually place the stop loss in your mind. You do not put it on the platform. You say if GBP reached 191.75 I will stop it manually. This way your broker would not know where the stop is would not try to hunt it.