Broker
Broker is a big deal when it is time to make sure a successful trading life, because the broker can affects the result of our trading with certainly, we the traders can choose a broker which is more appropriate to the concept of trading that will be used, if you love doing scalping should choose the broker which allows trading concept such as this.
Risk management is essential in forex trading. It is helpful not to take more than 5% risk in one trade, and you need to determine what percentage of risk you took in your trade. As for me, I take maximum 2% risk of my capital per trade. Forex4you give me high leverage but I use 1:100 leverage. High leverage expose high risk.
I think good broker should value long-term relationship with traders and essential condition for that is the absence of conflict of interest, i.e. the broker must not be a market maker. One of such brokers who act as a pure mediator is Hotforex.
The choice of broker is for sure very important and without that it is just next to impossible to be making good money. I am lucky enough that I did not had to make all that much effort. I was able to find out about FreshForex very smoothly and that helped me to work nicely and comfortably. I also feel good to do with bonuses that they have and several such benefits, it really works in my favour.
Imo the best broker should be regulated by FCA and offer stable spreads which mean predictable transaction costs. They are important for quality backtesting of your trading strategies. An example of such broker is Hotforex.Originally Posted by Golden Sark
A trader is that person who opens a forex account and then buy and sell currencies. The difference in price the currency pair was bought and sold at are the profit and loss. Traders are basically trade in the forex market with the help of forex account under a specific forex broker. Brokers help the trader to make professional from beginner. i am also a trader of forex market. I am trading with TP Global FX. They help me to become a good trader in the market.
Trading requires a lot of knowledge. It is not possible to make a profit without trading knowledge. There must be a loss in trading and we have to learn from this loss. I practiced the demo for 6 months when I joined the trading as a new trader and during this demo practice, I did a lot of research on trading. I used the demo account of Forex4you at first to know the basics, Still, now I am trading under this broker.
In this market place for making profit with great consistency we the traders have to depend on our trading strategies that we select according to our trading experience, in my trading career I have chosen LQDFX from where I can use my any kinds of trading strategies with scalping that brings profit in a short time. So, my trading life is very much comfortable. Basically by and large brokers don’t allow trading concept such as this.
One must need to be very emotionless when trading in Forex market. Because Forex market is a professional working place and it is very dangerous so if you take your decision emotionally you will lose. My credible broker Tpglobalfx provide me free education on how to trade emotionless and how to develop trading skill gradually. They also give expert assistance to their entire clients. Now I can take my own decisions.
Reply With Quote
Bookmarks