moneyrig

There is no strategy for handling emotions. If you can't control your emotions when trading, then you are bound to lose all the time. One of the effects of emotions is revenge trading, which has wiped so many accounts.

Hello, Forexchief and Interactive Brokers are big. Let us compare the two brokers for the sake of information. Which of these broker would you rather trade with and why? Also raise your hand if you have been given free money by Forexchief

I made sure to use a trusted broker, at least one that is licensed and regulated. I use Forexchief broker. Their low spreads and execution speed is the top reason why I decided to trade on their platform.

I have used more then two broker in a span of 2 years. Now I am fine with Forexchief broker; their server is perfect for news trading.

Unpopular or exotic pairs are the one which comes up with low liquidity, hence they could be risky and that is why they are not recommended options for new traders.

There are still other ways to make money with these pairs. I mean they are there for a reason.

There is no best time to trade. It all depend on your trading condition. There are various market hours to trade, such as the NY time, Asian Time and the rest.

Yes, i traded with an EA once upon a time and it went so well. I installed it on Mt4, which was a perfect broker for the EA at the time. But I discontinued when it stopped making profit due to changes in market condition.

As a retail, small scale and risk adverse forex trader, I have chosen the micro trading account provided by my broker ForexChief. Though the investment amount is not significant, as a part term trader I am able to earn good profit. This broker is helping me to reach y trading objectives via customized trading services. I am enjoying market assessment, free education, lowest spread, 1:400 good leverage and well organized trading lessons.

Do they offer managed account? I am using this broker; it is a very good broker with lots of benefits. Still I don't know if they offer managed account.

How to choose a great forex signal services?

I think it is best to look for unbiased review websites to see what others think about the signal providers.

Regulation is a good criteria to select a Forex broker. It is not the number criteria because even regulated brokers can be bad for your trading strategy. So first look at their trading conditions and decide if they offer what you need.

 

There are brokers with their advantages and disadvantages. most beginner traders are confused when choosing a broker to start forex trading. as a suggestion, traders, especially beginner traders, can choose brokers that provide easy-to-digest educational programs for beginner traders.

 

Yes, you are very correct. Forexchief broker has an education section, and even have articles that teach traders new strategies to begin with.

If you are looking for a Forex broker; forums are the best places to look at. Just as around and you will get a few recommendations. It is better to get recommendations fro active traders that using fake reviews on review websites.

Your advice is applicable to scalpers indeed. The fact that the spread is high does not mean it is a bad pair to trade generally. With a good strategy and long term position, one can actually make good profit from trading pairs with high spreads, but good volatility.

There is a difference between in investor and a trader. A trader does all the work necessary to make profit, while an investor just sits there and watch money rake in or disappear from his account. I am using the ForexChief copy trade system, so I can say am an investors, since all trades are copied from experts automatically. An investor does not need trading knowledge and skills to make profit.

Hi Gee, what is modern EA trading platform mean?

Don't mind him, he obviously just wrote a script with no idea of what it means.

It is possible to make profit on a daily basis. One of the best way tot achieve this is to have a proper strategy. An Expert Advisor can also help a trader to achieve this.

How to invest in moderate risks level with the adoption of necessary risk management tools?

He is trying to say that you must apply proper money management when trading. For example, there is a rule that says "do not use more than 2% of your capital in one trade". If you apply this try, you can never wipe out your account in one trade.

Forex brokers are here for business. Providing trading platform for traders is not an act of hospitality; there is a fee attached to every transaction you make. So before choosing a broker, consider yourself as a client and think of what you service and features you actually want. How much fee are you willing to pay and the payment method you are comfortable with. Know what kind of trader you are and find out if the broker's platform will be suitable for you.

Talking about hospitable brokers, there are some that provide welcome bonus to new traders. Instaforex gives up to $500, but you must deposit half of the money before you can even think of withdrawing (impossible to withdraw profit made even). The only benefit is that you can use it to test the broker's features.

Another broker that offers welcome bonus is ForexChief; they offer $100 free. It's the best I have ever used, since I was able to withdraw my profits instantly. The point of all this is that all brokers should offer these kind of bonus so that we traders can test their features before depositing.

I have not experienced this. I think swap fee may vary depending on the forex broker. I think you should compare with another broker and if there is some difference, contact your broker and ask why there is such difference.

I chose Tenkofx (https://tenkofx.com), which has been around since 2010 even though I started trading here last year.

First they are regulated by ifSC

Second, they allow news trading and scalping

Third, the spreads are really low compared to a previous broker.

I hope this helps.

Every trader should have a trading strategy. Only the gamblers open positions and wait on luck for the price to move in their direction. Only if you have a trading strategy that works will you begin to benefit from Forex trading.