Does T212 create artificial pin bars to trigger stops and limits?

Hello fellow traders,

Yesterday at 23:02 (GMT+1), I couldn’t believe what I saw in the EURUSD chart:
An enormous green pin bar putting my whole 1min chart out of perspective: for a second the price shot from 1.2126 up to 1.216 and back. When I checked with other charts (tradingview and FXStreet), this pin wasn’t there!

And it goes on: On my mobile phone this massive pin was negative and reached from 1.2126 down to 1.2085.

I attached 3 screenshots to show you.

The explanation from T212 was that different chat providers show different data and that they base them on different contracts. In fact, this can’t be proven.

What astonishes me is that such long pins trigger a lot of stops and limits and that it doesn’t feature on other brokers charts.

Would welcome your interpretation.

Jürgen

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Hello, @Stojue. The CFD instruments on our platform have a floating spread. When the market is calm, it moves within certain parameters. However, it is sensitive to abrupt changes in the market conditions. We are constantly working on refining our spread mechanisms to avoid overreactions to false positives. Regardless, if you or anyone feels like they have a position that has been closed unjustly, they can contact our Customer Care Team or me via a personal message in the community.

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Thank you for your answer and your offer to contact you in case of unjust closings of positions.

Could you please let me know on which data T212 is basing the calculation of its spread? I would like to understand why it can increase exponentially for a second in both directions triggering limits and stop losses while this movement is not shown on other platforms?
In other words, how can I verify whether the large pins which are not reflected on other platforms are actually reflecting real purchase and sales orders?

Just to make clear what is expressed on the screenshots above:
On 19/01/2021 at 23:02 (GMT+1), the EURUSD had for a second a buying price of 1.21665 and a selling price of 1.2085. This is a spread of 80 pips which is usually 1-5 pips, an elevation of 1600-8000%

I understand that you profit from spreads which are larger than reflected on the market. However, there should be an underlying increase in the base spread in the market triggering this increase, I would think, which I cannot see in this case.

I would appreciate an a bit more elaborated answer. Thank you.

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This happened to me several months ago. A massive red bar which lasted 1 second triggered my stop loss and I lost 600 euro. Mentally scarred for life.

i have the same Pinbar with EURGBP i lost 40€ regarding this SL Hunting and its happen everday at 11pm enclose a picture

i also have open a ticket regarding this ticketnumber is 548 694 this is really really annoying :triumph: :triumph:

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For what it’s worth, I have traded on a number of platforms over the last few years and believe this to be a regular occurrence, wherever you go. Not sure on what others’ view on this is based on multi-platform experience/exposure.

I would also suggest that this only really happens with forex and when the market gets quieter or is quiet. One does see it during normal trading hours if you look carefully enough, but certainly not to the scale which you demonstrate above. I have on a number of occasions seen the SL hunt go so far as to go from stable price point to incrementally reduce price until SL hit, just for it to go up incrementally immediately thereafter. Sounds far fetched, but I have the photographic evidence somewhere. As I understand it, this is perfectly legal in forex. Again, not sure what others’ view/knowledge is here - I may well be wrong on the legality.

My simple suggestion would be to learn when the market is at its most active and avoid all other times, assuming you trade forex only. For me personally at least, that seemed to work.

You can see world MO & MC times with the following link, but for UK residents I would generally suggest steering clear of all except Japanese and/or UK (7AM start)/USA (east coast) trading hours.

Hope this helps.

https://www.worldtimezone.com/markets24.php

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and they do it again today

my SL is hunted thats really really sad :triumph: :triumph: :roll_eyes: :roll_eyes:

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Market Makers are stopping you out. Know what you get yourself into first.

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Sorry to see @Wuggi,

It happens a lot, with stocks too, but with FX in particular. There are infinite number examples out there. @cezar has added a good video to let you know what’s happening.

This is the reason I do not set SL’s. Unless I am away from my screen, my right hand is my SL.

Not suggesting you do the same, there are large risks involved, but just being transparent.

Keep the bright side up, looks like you are reading the charts correctly anyway, which you can take a lot of solace in.

How does that work on a market with such huge volume, and an order book with probably a few million each tick?

I can understand on a low cap, low volume stock, but can’t see how it works on forex.

To me it looks like T212s “dynamic” “floating” spread “reacted to market volatility” .
I’m paraphrasing, some people (not me :innocent:) might say “T212 ripped you off”

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Ignorance is bliss :slight_smile: if I’m getting ripped of I’d rather not know about it.

This post was flagged by the community and is temporarily hidden.

Thanks for your answers! I think the advice from @britsy_em is probably the best one:

I also set lots of price alerts when I am not at the screen, but yeah, loosing out on the edges like that.