19 April, 2016
Did you know that even certain brokers were scammers? Do you know that scammers are everywhere? Believe it or not, there are some brokers who cheat on their clients!
They can do it by manipulating bid and ask spreads.
Regular spreads between brokers would be around 2-3 pips, however, scammers would have spread about 7-8 pips. Seven to Eight pis might not look like a lot, but it does tally up.
Visualize every time a client trades; he has to pay a spread of 7 pips. Think if he takes a just a few trades a day, and then multiply that with hundreds of other naive clients, you will be raking in the bucks!
Another way is to stop hunting. Remember brokers know where clients put their stops.
From time to time, they will make a run for those stops, affecting their clients’ positions to shut out.
Luckily, not all brokers are scammers.
So you should select a forex broker that is registered with a regulatory agency.
DO NOT deposit your money If the broker is not registered or not regulated by any national agency.
Stay away from non-regulated company! Remember it does not hurt to ask around and check, it is safer that way.
The initial steps in selecting a broker is finding out what your options are. You don’t just sign up and do it right away. Not unless you know what to do already. Even so, a further study is a much better choice and knowing your forex broker types is very important...
If you have tried using demo account and have been using a live account, you would know that executing is much easier on a forex demo account...
The most common form of technical analysis in forex trading are probably the Trend Lines. They are also possibly one of the most underused ones...
The longest term trading is called Position Trading and can have trades that last for more than a few months to a number of years. This type of forex trading is set aside for the ultra-patient traders, and needs a good understanding of the fundamentals...
A moving average is a way to smooth out price movement over time. It basically means taking the average closing price of a currency pair for the last X number of periods...
It is very important to be your own trader and to never follow someone else's trading assistance carelessly without entirely knowing about it. The methods that work for them might not work for you.
|7||Fort Financial Services||70%|