If your decision to join Forex trading family is adamant then you must know that for trading this biggest market in the world you need the same qualities which serve us in life. Don’t lie to yourself After you missed a trade or placed the one which is totally out of your trading plan criteria, take a necessary break: try to identify the reasons for those actions or non-actions. What emotions lead to this ending? Being truthful to yourself in finding mistakes and correcting them is a big deal of a mature trader’s thinking. Admit that even robots fail, so common mortals leave by mistakes and should learn from them. No taking personally Remember that trading is business and this kind of market appreciates no greed or fear. You must be detached from all of your emotions, opinions,
When the first wave of Forex market boom hit the internet and more and more people started trading and investing money. It immediately attracted those shady characters of the world to jump in and commit multiple instances of FX fraud. The market got flooded with various brokers, software developers, providers of trade signals and other bad characters whose only interest was to scam you of your money and get out for, let's say, Barbados. Of course, it hit FX reputation hard. Sometimes people even mention its fraud, firstly, and then speak about trading. However, it also helped to separate wheat from the chaff. The legitimate businesses have survived all types of Forex fraud and have risen to the top. However, any FX trader (newbie or pro) needs to be careful as the bottom feeders do exi
If the answer is Yes and No, then what’s the big deal? Simply put: Transparency. Alternatively, perhaps more aptly put the promise of transparency. Some investors may initially be attracted by the spreads, but the real reason that so many traders like ECN is the chance to see how a real market operates. There’s no lying or cheating; what you see is what you get. For a lot of us, that’s all we really want: A fair trade. Bear in mind, though, your old retail trader wasn’t necessarily out to cheat or lie to you. It’s just that their business model doesn’t actually inspire confidence. Add to that the frequent and numerous media reports of brokers who practiced all sorts of the illegal doings, and you’ve got a market full of traders and investors just begging for transparency. Tha
In the recent times, lots of forex brokers have started offering web based forex trading platforms in addition to the regular downloadable trading platforms. This diversity is good, especially if you are on a Mac for example. Since most forex trading platforms are built to work with the Windows PC, web based forex trading platforms is the ideal solution for forex traders with a Mac. A web based forex trading platform is also helpful especially if traders do not want to download and install a regular MT4 for example. There could be various reasons why a trader would want to make use of a web based forex trading platforms. There is no doubt that Microsoft has a major advantage over Apple in terms of market share especially in the forex industry. However, many will claim that Macs are more...
Forex Margin Trading is likely one of the fairest and essentially the most compelling investment method available in the forex markets. Forex Margin trading refers back to the leverage quantity given to the traders to trade available in the market. Forex margin trading can be a thought of a forex trader who borrows money from the Forex brokerage firm with a purpose to utilize the dollars specially for trading the Forex markets. Because of forex margin trading, a trader with only a modest capital is able to put money into significantly bigger value contracts. This is also some other term for leverage. The financing proportion in forex margin trading is above 20 times, because of this the Forex traders’ funds may enlarge to twenty times to carry on the trading. Some brokers offer you a le