there are almost thousands broker in online retail Fx market and most of them are found to be scams. Regulated trading broker can be a great choice which for all time makes sure security of funds at any deposits with a wide range of trading technologies.
kamikazebogeyman posted: You can also overcome them by using a Forex robot or trade copier. Getting someone else trade trade for you could be bset solution
The BEST advice is to learn proper RISK MANAGEMENT.
Risk Management is the #1 priority.
By paying for a signal or buying a robot off the net is absurd.
Think about it.
Having someone else trade your account, just means you are allowing someone else to possibly lose all your investment capital.
As for robots.... NEVER PAY FOR A ROBOT YOU SEE ADVERTISED ON THE INTERNET.
We see them everyday. '$99.95 Elilte Packages', '$500.00 Secrets to trading' and other scams.
Think about it reasonably for one moment.
If the bot works, why are they bothering to sell it? They'd be INFINITELY WEALTHY, they wouldn't sell it.
Here is the true 'elite secret' to being profitable.
If you PROPERLY manage your risks, you will increase your overall profits and greatly reduce your losses.
I read a lot of people saying this about risk management but my worry is that even with the best risk management in the world you will not be able to make a profit if you do not have a trading strategy that works
for newcomers In Forex trading lowest spreads is a big deal when choosing a broker. From all trading elements in this market place spreads is mainly considered as an important financial tool which an investor should consider when choosing a broker. Lowest trading spreads is very much supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time.
HertzTrader posted: I read a lot of people saying this about risk management but my worry is that even with the best risk management in the world you will not be able to make a profit if you do not have a trading strategy that works
It doesn't matter which specific strategy an investor has decided to trade with, as long as the strategy presents little to no risk, and can generate a reasonable and consistent profit level. The strategy is secondary to Risk Management and effective money management.
The difference between a truly profitable investor and someone who consistently loses in the markets is effective Risk Management.
Effective risk management includes: Profitable low risk investment strategy Use of reasonable and realistic stoploss targets. Use of reasonable and realistic takeprofit targets Small lot sizes Careful attention to the news events that could impact your currency pairs. (Fundamental analysis) Trade without emotion Automate where reasonable and realistic
There are other things such as technical analysis but the point is that Risk Management is the #1 priority in profitable investing.
Everything else is a secondary concern, including the profits.
It would be better , if we get real trading facilities from our brokers as like superior execution , security of funds at any kinds of investments , low transaction cost , easy withdrawal system without long time process, free demo trading , active customer services , exclusive educational facilities , lowest trading spreads , usable bonus offer and much more that are very supportive to lead a comfortable trading life with certainly.
If you are new in this market, you have to make a plan to make a profit from this market. on the other hand, you need a reliable broker. Without a good and reliable broker and a good plan, you can not make money from this risky market.
New traders have a lot to learn to trade Forex. If a trader trades without learning, he will not be able to survive in the market for long. If you have to learn trading first, then you can make some profit at the end of the month. Trading is not an easy task as you come into trading and earn money. Brokers are an important part of trading. I learned a lot from the broker's website at the beginning of my trading career. As a trader, I always gather information from Eurotrader.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.