Best online forex trading broker

Forex trading can be a risky business. While hundreds of people have gainedmillions in profits through this trade, others have also experienced huge loss in it. As with any kind of investment, it all boils down to making sound decisions in forex trading.

These sound decisions actually start with choosing a high-quality forex trading broker or your trade could instantly turn into an unlucky throw of a dice, so to speak. This is especially true if you are a new investor who's looking for a reliable forex trading advice. If you wish not to trade in the dark, read on to find out what to look for in a forex trading broker, where to find the best one, and how to establish a professional relationship with them.

The good qualities of online forex brokers as follows:

Experience

Experience, they say, is the best teacher. As with any profession, forex trading brokers get better with longer experience in the trading arena. That's why this is the first thing to look for in a broker: a proven track record. Otherwise, you will find it hard to trust the advice of a broker.

Customer service

Customer service is a series of activities designed to enhance the level of your satisfaction – that is, guide you through the process of opening an account, downloading the platform and placing a trade, live chat and 24/7 telephone numbers.

Account

The account type is the second thing to take into consideration. Be sure to check if the forex trading broker has an account that offers sufficient liquidity. What else can be a better gauge for this than your expected amount of investment? If, for example, you expect to trade $70,000, it would be unwise to go with a broker who holds smaller accounts. The key is to find a broker with both financial stability and sufficient liquidity for your investments.

Trial

Some forex trading brokers are better salesmen than performers. Simply put, their promises of premiere service and reliability are nothing but lip service. So you won't fall for this trap, go on a trial with a broker. Put the 24-hour support to the test by finding out how long the broker can get back to you when you have a question or issue to clarify. Make sure that the broker can be reached both via phone and the Internet. Through a trial, you can find out if your forex trading broker gives automatic execution. This is a good way to know if the broker provides dealing tools that are important during the trading process. There's nothing like having a broker that offers real-time charts, real-time data and news, and technical analysis.

Leverage

Leverage is one big word in the forex trading world. It comes as a ratio between the total capital available for you to trade and your actual capital. The more leverage you have, the more you can increase your potential profits. By choosing a trading broker with a higher margin, you get more leverage. For instance, if your broker offers a leverage of 300:1, this means they can offer $300 for very $1 of your actual capital. When choosing a broker, a good guiding point is to make sure that he or she offers you at least a leverage of 200:1.

Bigger leverage, though, means higher risk in losing money. This is where guaranteed stop comes into the picture. Go with a broker that provides guaranteed stop protection and negative balance protection.

Type of currency pair

Next, you must take into account the currency pair or pairs you expect to trade. It's just a matter of finding a broker that offers the kind of currencies you want to trade.

Time

The times at which you trade also play a big role in choosing your forex broker. This determines the spread (the difference of the buying price from the selling price), which varies at different times of the trade. For instance, if you expect to trade off market times, you should select a broker that offers a fixed spread. In contrast, if you want to trade during peak hours, you'll do well in selecting a broker with variable rate spreads. By going on a trial with two or more brokers that offer different spreads, you can better decide on which broker gives better value for your money.

Trading platform

The trading platform itself gives you an idea as to whether or not you're dealing with a reliable forex broker. Select a platform with such features as limit and stop orders and one-cancels-other orders. Hidden charges can be a problem with some forex brokers. That is why you should make sure your transaction cost covers only the currency spread and no extra fees or commissions.

Country

Check the country of your forex trading broker. Their country actually has significant tax and legal consequences since regulations vary in different jurisdictions. You can make better comparisons of forex brokers by consulting your legal, tax, or financial advisor.

Finding the best one

Learn from other people's experience. One good way to make sure you're choosing a good broker is to find people who have had experience with good brokers themselves. Ask for referrals from friends. If none of your friends or acquaintances is into forex trading, then you can ask for client references from a broker. You can also visit online forums. Such communities are great venues to know which forex trading brokers are truly reliable.

Once you have chosen a good broker for the trade, it's time to establish a professional relationship with them. After all, making good money is usually borne out of good relationships. While you should look for a forex trading broker who's available 24/7, you yourself should be available either through phone or the Internet. From the very start, let them know when they can call or email you. This is crucial since you often have to make fast decisions in the trade. It's important to be open to your broker, especially when you are not sure about the kind of deals you make. It can be helpful to ask questions when you have doubts about matters.

Do your own homework. Any broker would find you annoying if you rely too much on his or her skills. While it is important that you trust your broker when he or she gives you advice or suggestions, you will do well in trusting your broker while researching on the side about information that can affect your own investments. Researching means regularly reading forex charts and being in the know about the latest economic and political issues.

Stick to the trade. It's best to limit conversations with your forex trading broker to topics related to your investments. Getting too personal is never a good way to have business with them.

WHY YOU SHOULD INVEST IN ONLINE FOREX TRADING.

What Is Forex?

Forex is the art of making money through trading currencies.

How Can You Trade Forex?

Very easy! You buy and sell currencies online through your personal computer and from the comfort of your home.

What Do You Need To Start Trading Forex?

• Forex Trading Skill And Experience:
  You have to have the trading knowledge and experience to start trading forex. Making money through forex trading is easy, but you should learn how to do it, otherwise you will lose.
• Forex Trading Account:
  It is like a bank account. You open it, deposit some money in it and you can start buying and selling currencies against each other. To have a forex trading account, you should open an account with a forex broker.
• Forex trading software (platform):
  It is a very simple and easy to use software that gives you the currencies' prices and the tools that you need to analyze the currency market and place your orders. When you open a forex trading account with a broker, they provide the trading platform too. 
  
  

  Benefits online Forex Trading

Trader/investment manager

With good technical ability, trading on behalf of investors becomes a lucrative means of living. It could be trading on account in which profits are shared in a ratio between investor and trader as agreed. It could also be a situation where the trader or investment manager gives a fixed or varied return on fund invested.

Market forecaster & analyst

With good technical ability to study predict market or price behaviour becomes a hobby which can be turned into earning potentials by selling signals  through subscription service. It could be a daily, weekly, monthly, quarterly, half year or annual subscription

Trainer

Though I advise practical and experienced traders to offer services in this area, rather than demo and part-time traders. If you are not cut out to offer training, it is a hard area as some of your audience might be experienced ones. Training could be online or formal.

Introducing broker

These are like marketing agents or sub-brokers to major brokerage firms. They offer services on behalf of the major brokers to clients. They earn commission from the major brokers and not the clients. I was also once an IB before I moved to another level.

White label partner

This does not come easy. Requirement may be experience in terms of years as an IB, evidence of performance, corporate registration (unlike IB which may be personal) and also a working website. Deposits in thousands of dollars may also be required as deposit. Returns here monthly are very lucrative as well.

Country rep/manager

As foreign investments directly or indirectly are flowing in, opportunities abound to fill these positions though with proven record.

The above shows that forex trading is more than just trading as most people think, but to benefit in these areas mentioned, there is need for knowledge on how the market works. I believe this is a career still much green to be exploited by teeming youths and graduates looking for white collar jobs. Finance and other related career personnel, working, retrenched or retired can also take up this career. The coast is clear.

Market analysis for Friday July 5, 2013

This forecast should be useful as you are reading this column this Friday morning of July 3, 2012 and based on daily analyses if the targets have not been tested.

EUR/AUD (SELL) : Market expected to go short. Exit at 1.3823

AUD/JPY(SELL) : The pair is likely to go short. TP 103.12

EUR/NZD (SELL) : Market expected to go short. TP at 1.6200

GBP/AUD (SELL) : Market expected to go short. TP at 1.6200

GBP/NZD (SELL):  Market expected to go short. TP at 1.9012

Let entry points be at trader’s discretion. This constitutes my view and may or may not be used for trade decisions. Please money management is strictly advised. Happy trading

Online Forex Trading Tips for Quick Success

When traders first start trading Forex online, they will obviously want to be successful. There are a number of tools that can help even the newest traders make successful trades that will generate cash returns. By learning a few beginner tips, it will be possible to avoid losses and gain returns when trading in the Forex market. This is one of the most appealing types of financial investments online and with a little knowledge and experience, new traders will soon be on their way to making daily trades that create steady income streams.
        

              Forex trading is all about risk management. New traders will have to learn the risks associated with any trade and also discover how to minimize those risks. It will be required for the trader to assess how much money they wish to put into the market so that the trader can avoid devastating losses. With risk management and budget control, traders will have control over their finances and will be a better trader.

              Unfortunately, many new traders fall prey to greed and will want to make as much money as quickly as possible. In the Forex market, there are a lot of trades conducted daily and it is not possible to generate returns on every trade that is conducted. Traders should make sure not to set the take profit order any higher than the stop loss order. It is better to get money coming in by opting for lower profits.

              Try to avoid leveraged trades as this will assist with the reduction of risks. It will also help traders take advantage of the market. This does not mean that all leveraged trades are bad options, but it is best to avoid those that have a high leverage. As traders conduct more trades, they will develop the level of confidence needed to be a great trader. By being confident, traders will be able to make better financial decisions and will be able to avoid risks that should not be taken. Gather as much information as possible and make use of demo accounts from brokers to become completely familiar with the Forex market and to develop strategies and confidence levels. With these few tips, new traders will get off to a great start and will be able to enjoy the rewards offered by the Forex market.

Forex Trading Skill And Experience:

By Forexoma.
Most people lose in forex, not because it is too hard to make money through forex trading, but because they make it too complicated.
                “Making Money” is hard in general. It is not easy to make money. Most people have to work to the bone to make money and cover their bills and expenses. If they stop working (sometimes even for a few days) they will be in trouble because they have no savings and backup. Living and working like this make them think it is always too hard to make money, no matter what business they have. They will not believe you if you tell them that although it is hard to make money, still there are some easy ways to make a substantial amount of money every month. You can take them to the computer and show them the price charts and explain how it is possible to make money through trading. They will admit that it is possible to make money. Even they admit that it is very easy to make money through trading. But when they start learning to trade, they always make it too complicated. Why?
             
 The reason is that life has taught them that it is too hard to make money and survive. There is no way to make money easier and with less or no headache.
                  They start trading with such a mentality. They admit that trading is and looks easier than the other jobs like taxi driving, accounting, teaching, and… . But they do not believe it internally, because of the negative impressions they already have about working in their subconscious. The result is that although trading looks very easy to them, they make it too complicated, because they think something that makes money has to be hard and complicated, and it is not safe to make money through something that looks too easy.
                Unfortunately, it is not easy to change such a mentality, specially when it is in subconscious and it works while people do not know it and are not aware of it.
                 Just look at your charts. Do you really need all of those indicators, moving averages, lines and… to trade? Are they really helping you make money, or they only make you lose money?
                 Experience shows that most of those who lose money, make their trading systems too complicated. They will not believe you if you tell them that a trading system doesn’t have to be that complicated, and many of the professional traders use nothing but the price chart. They start trading with such a mentality, and after wasting a lot of time and money they give up.                                                        What Is the Solution?
 You have to realize that trading is very easy when you keep in simple and easy, and it becomes hard and complicated only when you make it hard and complicated. You have to understand that you lose when you make the trading complicated. You will have more emotions when your charts look too choppy and messy with too many indicators, moving averages and lines. You have to stop over-analyzing the markets, and looking for the exotic and complicated chart patterns and signals.
                 If you are used to make the work too complicated (because of the reasons we explained above), you have to stop yourself. There are some good ways to do that:

1. Make yourself limited to 1-2 indicators maximum.

2. Look for a limited number of chart patterns like triangles.

3. Follow the tools like Naked Forex: High-Probability Techniques for … that make the chart analysis and trading as easy and simple as possible. We do not want to use this chance to promote our robot again. However, this robot was created to make the traders stop losing and start making money. It was explained above that many traders lose because they make the trading too complicated. The most important feature of Naked forex High-Probability Techniques for...

is that it makes it as simple as possible to trade. It has so many other features, but simplicity is the most important one.

                     You can only have Naked forex High-Probability Techniques for...(Kindle Edition) working on the price chart without having any indicator. As you have noticed, we do not have any indicator on the Naked forex High-Probability Techniques for...(Kindle Edition) charts in the articles we have published about Naked forex High-Probability Techniques for...(Kindle Edition) so far (for example here). However, as most traders like to get the trade setups confirmed by one or two indicators, and as we wanted to show our clients how Naked forex High-Probability Techniques for...(Kindle Edition) can be used with any indicator they want, we have three indicators on the FCAR ready-made platform that our live account holders can download and use: Bollinger Bands, RSI-MA, MACD Bars.

                   

A Letter from God to Forex Traders!

I am very delighted and pleased to write to you because you forex traders are among those of my people who call me and pray a lot specially when the market goes against your positions. Please keep in your mind that at the same time that the market goes against your positions and you start praying and asking me to turn around the price to your favorite direction, there are a lot of other people who have taken the right position and are happy with the money the market is making for them. Most of them keep on saying “Thanks God!” and ask me to move the market more and more.

Whom should I listen to? What would you do if you were me? Would you suddenly change the direction of the market to please those who were losing or you would force the market to keep on moving on the same direction to please those who were making money?

I don’t do either. I have created and organized everything with its own rules and regulations. Everything, from the smallest particles in atom’s nucleus to the biggest galaxies and stars are moving and behaving through following the rules and regulations that I placed in their structures and systems at the very first moment I created them. They know what to do because they follow the rules. They use the initial source of energy I gave them. Electrons, planets, stars and… know their own orbit and pathway very well. They don’t ask about their direction and destiny everyday. I have already told them what to do.

When a bird wants to go and find some food and at the same time it starts raining, that bird doesn’t ask me to stop the rain, because he/she knows that it starts raining exactly when it is time to. It is the bird who has to adopt himself to the nature and its rules. Nature and its rules can not be changed just to please a bird.

It is the same with forex market and all other things. If you like to make money through forex trading, you have to learn and follow the forex market rules. Market doesn’t follow you. You have to follow the market. If you took a position and the market went against you, don’t ask me to return it because I don’t listen. Even if Jesus takes a wrong position, I don’t care because it is his own fault. He also has to know the forex trading rules and techniques if he wants to become a forex trader.

If you blew up your account because of your own ignorance and because you didn’t know how much money you would have to put in each trade, don’t blame me and don’t say that I don’t like you and why the others make money but you only lose. It is not my fault. I don’t make any exception. I love everybody. Everybody who follows the rules will be prosperous. Those who try to go against the rules will suffer.

I never forget those days that the market went against you and you prayed for it to be returned and it returned (not because I made it return for you but because it was the right time to return). You recovered your loss and suddenly forgot about me. You forgot that you were begging me to return the price for you. You repeated that if I returned the price just once, you would promise that you would never ever make any more mistake and you would follow the rules. But as soon as the price returned and you recovered your loss, you forgot me and your promise and started repeating the same mistakes over and over. Instead of being like that, just learn the rules and techniques.

Keep in your mind that I am the only one who makes no mistake. Even if you learn all the rules and techniques and you gain several years of experience, you can still make mistake. But it is ok. There is something which is called stop loss. It is one of the most important things in everything. I have placed a lot of different stop losses in nature too. For example your body cells know that when something goes wrong with them and they are not able to control a bad condition, they have to pack all their internal organs and substances and “stop” all activities and biochemical reactions to avoid hurting the other cells. Those cells that ignore this rule become converted to cancerous cells. Of course they ignore it when it is time to ignore and when it is time for you to come here but if you don’t like to lose all the money that you have in your account just because of one mistake, never ever ignore placing a reasonable stop loss and when you made sure that your stop loss is in the right position, never ever move it when you see the price gets close to it.

Lastly, if you succeeded to make money through forex trading or any other kind of businesses, try to spend a portion of your income for charitable purposes every month. Don’t say “I pay tax.”. Most of the tax that you pay are spent to make deathful weapons to kill innocent people around the world. Or it is spent to make some crooks richer. Most of those who really need to be supported and paid have never been paid and supported through the tax that you pay. I know it is not your fault but it is still your responsibility to take care of those who need your help. Although I don’t listen to you when you ask me to return the price to your favorite direction when it goes against you, if you help poor people with the money that you make, I help you to become a good forex trader who knows and follows the forex trading rules as soon as possible. I never forget those who don’t forget me and I help those who help the others for the sake of me. Take care of the others and I take care of you. I assure you that if you help the others I don’t let you down and I will be there for you at the moment that no one can help you but me.

Very truly yours,
God

SKILL YOU DON’T NEED IN FOREX TRADING

In the novel The Mysterious Island, by Jules Verne, five men escaped a civil war prison camp by hijacking a hot-air balloon. Very quickly, they realized that hot-air balloon is carrying them out over the ocean. As the hour passed they saw the horizon receding and realized that they were also losing altitude. Since they had no way of heating the air in the balloon, they began to throw some of the excess weight overboard. Shoes, coats and weapons were reluctantly discarded, yet they rejoice that balloon began to rise. Soon, they drew dangerously close to the waves again and began to toss their food overboard. Better to be alive and hungry! Yet a third time, the balloon began to descend and this time, one of the men suggested they tie together the ropes that connected the balloon to the basket in which they are riding, and then sit on the ropes and cut away the heavy basket. The very floor they had been standing on the fell away, and the balloon rose once again suddenly, they spotted land. With not a minute to spare, they live were spared, not because of any heroics, but because they had learned what they could live without. To be successful in forex market do away with all this:

1. Greed

The way to avoid being greedy with your trading is to find out why it’s so easy to be greedy with the markets. Greed stems from a belief that there is no enough and there will be no enough. The most reason people are greedy when trading forex is because they bring non-market factor(like how badly they need the money, what they need it for, can they afford to risk, etc.) and apply them to the forex market. It doesn’t really makes sense to do this because those non-market factor have nothing whatsoever to do with which direction the market is going. So to take those factor like I want to use this money to buy a car or I need this money to pay my bills. While those things may be true, they don’t have anything to do with which direction the market is heading to. So letting those things control your trading decisions makes you greedy, makes you want more than the market may be offering, and influences your into not acting in your own best interest. Being greedy will shorten your trading career faster than any other mistake you can make. Aviod it.

2. Stop looking for hundred percent accurate indicator.

There is Chinesse proverb that even monkey also fall from tree. There is no technique that will produce 100% profitable trades in forex. There is no single indicator that will make trading a breeze and making money an easy task. This is reality. All you need is define your trading system, set specific goal, the goal must be measurable, realistic and attainable. Meanwhile, a person with good self-discipline but a poor trading method will outperform a person with poor self-discipline but the best trading method currently available.

3. Excess indicator on your trading platform.

This will lead you into over-analying, procrastinating and hesitaty decision. I know many times traders have come into my office terribly depressed because they knew the market was going one way or another; however they failed to take position. When I ask them why did not take the position, there answers are always the same: they were waiting for there all indicators to comform the direction of the market(only two out of the excess indicators were present and they were waiting for the rest.) as a result they miss the trade setup or enter at wrong point. We don’t get paid in forex unless we take a position. Don’t over analyze the trade. Place the trade and manage the trade, if you are wrong, get out. When you over analyze and in hesitate, the net result of all is zero.

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TIPS FOR THE NEWBIE IN FOREX

This blog is written to suggest techniques, secret and a never-ceasing flow of money (pips). This is simply a practical, direct- action, personal- improvement steps with the sole objective of helping the reader achieve a wonderful, satisfying, and worthwhile trade. I strongly believe that if you will read this thoughtfully, carefully absorbing its methods and will sincerely, persistently practice the effective principles and formulas outline herein. You will experience an utmost improvement. In fact too many traders are defeated by the every day bad trade which ought to be benefiting trade, I certainly do not disagree or minimize the hardships and tragedies of trade but there is also wonderful and sophicated method by which we can control or even determine those bad trades. By using the techniques outline in this blog you will modify the bad trade, assume control over your trade rather than continuing to be losing in forex .

Above all, you will attain a degree of trade; experience a new and keen pleasure in trading .Be part of namby-pamby trader who has benefit from these formulas. Learn to trade in a bigger way and forex will rate you bigger way, don’t forget that sophicated method brings pips, while pips is money. Make yourself indispensable (although nobody is indispensable but some are more easily than others) the best kind of pride is that which compels a man to do his best, even when no one is looking. Be on the move, be creative, do standstill, continually look for new ways of doing things until you find a better solution, be pro active, forward thinking. Have a work plan, give yourself target, and stretch yourself if you fail to plan, you plan to fail. Be respected, valued, admired and recognized .

The self-image control everything we do in life, It is what we believe to be true about ourselves. It may not necessarily be true, but it is what we believe to be true.

No matter which group of trader you may be or may be wanting to be - a newbie who has recently started testing waters, an voyager by experience, or someone that making her or his living exclusively from trading, you can be successful. Many aspiring traders are limited in their thinking and assume that they need to have a masive capital, or years of experience, to trade successfully. That’s not the complete truth.

What you need to become a successful forex trader is a right attitude; a positive frame of mind; certain strength to deal with ups and downs, and complete understanding of things. One thing that you should be mindful as a trader or a hopeful trader is that with forex or currency trading you don’t have to succeed all the time.

These days everyone I meet is interested in making money through forex trading. And it’s not astonishing at all. After all currency trading markets transact trillions of dollars, not millions or billions. This makes it even more attractive. People are always asking if it is a fact that you can create wealth from the convenience of your home. And I always tell them that every bit about it is a fact but I also tell them that trading is not that simple. And that it is not a wise idea to jump right in without a strong foundation and mental readiness.

If you are ill-equipped at mental level to handle the uncertainties and stress related to trading, or don’t stay disciplined, focused, and rational, you’ll end up being a losing trader - your higher level experience and expertise notwithstanding. All successful forex traders generally start as small investors with strong mental frames, they didn’t trade more than they could safely risk, and above all when they lose they don’t lose the lessons. They learned from their mistakes, and so they developed systems that worked for them. It’s about being mentally active and smart.

Successful forex traders set goals in terms of revenue and also qualitative improvement in their trading. They’re confident that they will be able to meet their goals. In most cases where I have tried to learn from the stalwarts and what I have read about them, it’s their confidence that helps them to succeed and stay rational, logical, and disciplined in their currency trading. Starting with small, realistic goals can help build your confident outlook along with your abilities. This is the first step towards building a realistic frame of mind to be a winner.

I always tell people who join me that there aren’t different techniques for different levels of forex traders because trading principles are the same for everybody in the markets and that are: focused, confidence, discipline trading creates success.

Since we are on the topic I would also like to take the opportunity to share another important fact with readers. It may sound strange but it’s true - most forex traders cannot accept big profits even when they strike the right deal and earn it. It’s disappointing but true that most forex traders fail not because they can’t restrict losses, but because they don’t have the courage to accept profits.

We will go deep into this and see why this happens. The fact remains that currency trading is risky, but the irony of situation is that most traders try so hard to play, save and restrict risk that they hardly give themselves any chance of making profits. As a result of this playing narrow leads to the following outcome.

They choose to day trade. These traders think that this is a low risk of trading, whereas the fact is that it’s the highest risk form of currency trading which such a non risk taking trader can do, because if things go wrong it guarantees a wipe out of equity.

Most traders also like to believe that they will make money by keeping the risk low and having tight stops, but when they implement it as strategy they find out that they get stopped out all the time. So they do not end up gaining at all. If you have faced this situation learn your lesson and move on.

These safe playing traders do feel good when they get a profit, but these are not often and minor and they never pay for their huge amount of losses.

The result is like I already mentioned earlier - Complete equity wipe out.

The next outcome about choosing to day trade is that they decide to follow the trend.

There are these other category of traders who trend follow and aim to make a profit and yet, with all the indicators pointing to a continuation of the trend - they take profit or get stopped out. This also results in the same old story. And it is certainly not a good mental attitude if one wants to stay in trading and succeed at that.

These guys end up earning only a minor profit, when they could have earned a huge profit, had they been more realistic and logically in their approach to trading. When these forex traders get any profit on their forex trading system, they get excited and the bigger it gets the more they want to take it before it gets away.

As normal movements and volatility eats into the profit of these safe playing traders, they panic and move their stop up or snatch the profit. Most traders are so obsessed with keeping the risk low that I openly tell them that they may as well not trade at all. What they should do is learn a few lessons to attain mental fitness required for trading.

To round it off – what every individual wanting to be a successful trader needs to build the courage & conviction to run profits and understand that as a trader he will have to take risk to get closer to goal of earning a steady above average profits over the long term.