Market places knows where is your stop loss... You play again them.
It should not be, but it's a scam and unregulated.
I made the painfull experience of it with a future on DJIA in 2009, and it was a regulated market place (CBOT, i think)... I was long because I supposed a reversal of the bear market. I put a stop loss at 8000$ or something. Price went just 1 tick (0.01$) under my stop loss then went up.
It happens market place members (big players or market makers ; you pay to be a market place member which give you some advantages over regular traders) have full visibility of market orders book, but not retail traders. So they have access to your stop loss order. So then can put pressure on prices whatever the direction to force you to close your trade until orders book on one side at a price level is empty and the price can only reverse course.
It should not be, but it's a scam and unregulated.
I made the painfull experience of it with a future on DJIA in 2009, and it was a regulated market place (CBOT, i think)... I was long because I supposed a reversal of the bear market. I put a stop loss at 8000$ or something. Price went just 1 tick (0.01$) under my stop loss then went up.
It happens market place members (big players or market makers ; you pay to be a market place member which give you some advantages over regular traders) have full visibility of market orders book, but not retail traders. So they have access to your stop loss order. So then can put pressure on prices whatever the direction to force you to close your trade until orders book on one side at a price level is empty and the price can only reverse course.