First of all i wanna tell you Stop-Loss hunting is not a scam because that move is caused by the big market players, searching for liquidity!
So When a retail trader start trading he open account in ordinary brokers or new broker just for bonus and some other advantages .. So a ordinary broker have less clients and they know that soon we open account in a good broker ..Because at first we open account in a ordinary broker for practice ..
They know this thing .. So they Hit your stops and earn from you .. They grab your order and put in a basket not in a real market ..
When a new trader face these things he scare from market and leave forex trading ..
So first of all open account in a good broker . how you know this is a good broker or not ..you can match price movement of your broker with real market ..if you see big difference its means bad broker ..
Some time good broker also do same thing but they do with there small clients like who open Mini , Micro , type account .. here you must know if you open Micro or Mini types of account in a good broker they also grab you order in a basket not in a real market ... So you should open ECN account in a good broker ...
Mostly SL Hunting occur at news time .. So avoid trading at news time ... if you are in a profit before news then trail your stops..
As you can see how big players hit SL of retail traders ...
So now i will tell you best SL placement .
many new or retail traders place SL below Support levels or may be 10-15 pips below Support level .
To avoid SL hunting in market you can place your SL at second Support level and may be 10- 15 pips below second support level ...
Another way is see volatility at S/R levels. See above image first candle long wick show buyers at Support level..Now we enter buy trade and our SL Hit ... So now how we avoid this thing ...
We should buy at support level when price test support level ... See above image price test Support level then move up ...
Same thing whit Break outs or Break Downs of Trend Lines ... Buy or Sell at Test of Trend line not at Break ...
My Recommended Brokers = XM and Hotforex .
Another Thing is use your own System or Strategy ..
Focus on only one Strategy ..
Never Do Demo Trading ..
Never open Mini, Micro accounts ..
Never invest Small Amount ..Should open account minimum above 300 Dollars.
Never News Trading ..
Never join FB Forex Groups for Signals.
Always open ECN account in a good Broker ..
Always Share your knowledge and your Strategy Free of Cost .. Because when you share your Strategy . Peoples Explore your system and give you suggestions about how to increase accuracy of your system ..
Always Trail your Stops when your trade in profits ..
Always use money management . When you see volatile market and Big candles Never Increase your lot size.
When your daily target complete . Close MT4 Terminal .. Do analysis for next day according to your strategy . But Remember not enter in a market again after daily target hit ..
Now Share This article with your Friends ..When you share this and they learn something new from this article . I am Sure they will also share something which will be new for you ..
i do this and learn a lot ... Now its your Turn..