Which Broker
Forex broker is a big deal to ensure a complete trading life, because the broker can affects the result of our trading with certainly. we should choose the broker which is more appropriate to the concept of trading that will be used , if you love doing scalping should choose the broker that allows trading concept such as this.
Finding a reputable broker is essential for trading but yet it's a difficult job. Fast execution, low spreads as well as a secure withdrawal of funds are all of these. If the broker has inadequate liquidity, it might be able to withstand slippage. The security of the funds is a must. The broker must be a licensed broker. This is why I'm trading with Eurotrader. They offer me minimal spreads that areas at 0 pip and leverages flexible from one to 1:500, with immediate execution.
Trading with putting SL is very important because the SL then we will be able to minimize the risks of forex properly , therefore we should always use SL when trading. To put stop loss when trading, I prefer to put SL 5% of the capital. So that the losses incurred are not getting bigger.
Honestly speaking, Earning is Forex is not easy at all. There is too many who loses money simply because they take it lightly. They think knowing minimum knowledge about Forex is good to kick off trading right away. They think they can earn good amount of money in here. But one thing I want to say in order to my trading experience , in Forex trading you like digging a hole, the deeper you dig the more chance its can turn into a well and get water.Originally Posted by Golden Sark
Well, if you want to scalp, use an offshore broker, these are the brokers that do not have heavy regulation and restrictions. Scalping will never work when the spreads are high and the execution is overcrowded. Forexchief is one broker I have seen that allows scalping and execution is speedy. You also get to use a no-requote account to avoid unfair prices.
Personally, I prefer using brokers with a good license - they tend to be safer to use. This industry is rife with scammers, unfortunately, which leads to a lot of losses. I'd rather not take any chances.
A number of novice traders start their live trading too earlier before completing their task in demo! That’s the main reason of 90% faultier statistic in Forex! I see, which traders are making right now handsome money in their live account, they all of used their demo account more than one year! So, if you want to enjoy their live trading, spend enough time in your demo!
I totally agree, too many fake brokers out there and sometimes you can hardly tell the difference. This means more work from traders who are in the stage of selecting a broker, you have to be extremely judicious in this aspect. Even after I started with forexchief, I was always going back to check on reviews on them because I had to be sure. Though they are licensed, I needed more assurance because even when a broker is regulated they can still hurt you in other areas.
We will need to understand the importance of doing our trades with the help of a Regulated Broker.
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