9 Challenges that We Traders Face

[PopIsDead]

Dear members..

Having been a Forex trader for years, I’ve found that it is of paramount importance to partner a reliable broker.

You see, after you get a good solid education on how to trade the Forex Market, your next step would be to open an account and start trading.

I’ve compiled a list of 9 challenges that we traders face when choosing a reliable broker to open an account. Here they are:

1) “I feel that my broker is a market maker and is trading against me”

We’ve all been there before. You set a trade up, place your targets and stops, and get ready to rock and roll. Unfortunately, the trade doesn’t go your way. It starts to inch closer to your stop loss. As it flirts dangerously close to your stop, you heave a sigh of relief when it appears to be reversing.

However, to your horror, it suddenly hits your stop, takes you out of the trade, makes a killer reversal and continues to move in the direction of your profit target! Sounds familiar doesn’t it?

This friends, is a reality in the Forex brokerage business. Many brokers operate a DEALING DESK which simply means they also trade to speculate for profits. Unfortunately, this sometimes means taking trades against you, the retail trader.
2) “Slippage is a common occurrence. I hardly get the price I want”

Do be careful when you are attracted to brokers that offer “1 pip spread or zero spread.” Either one of 2 things may occur:

- You have to pay a high commission on each trade

- There will be many requotes

Please do your own due diligence and read the fine print on the broker’s terms and conditions.
3) “I worry about the safety of my funds”

This is definitely high on the agenda of most if not all, retail traders. Unlike the billion dollar institutions which have endless cash at their disposal, many of us are trading with hard earned money. It would be refreshing to come across a solid broker which offers segregated client accounts.

Anyone remembers the Refco debacle? They were at one point the largest broker in the world before filing for Chapter 11 bankkruptcy in October 2005. Many people who opened accounts with them over the years are still finding it a challenge to get their money back.

you can read more here>>
http://mariosingh.com/category/forex-brokers/

 

[tilong77]

Apa2 pun kita main hit and run..jgn simpan byk2 sgt dalam account tu..tak tau apa yg terjadik..

 

[azam575]

Mmg perkara sebegini akan di hadapai oleh kebanyakan trader.... oleh itu trader perlu bijak dalam semua situasi ...

 

[PopIsDead]

Mmg perkara sebegini akan di hadapai oleh kebanyakan trader.... oleh itu trader perlu bijak dalam semua situasi ...

tepat sekali tuan azam..

 

[astrowan]

otai2 selalu pikir camni..yg tak tau apa2 depo ja ehehheehe.....saya cuma depo ja tak kisah apa2 tengok mana berkenan ja