Signs of a dishonest Forex Broker

April 30, 2011 by  
Filed under Forex Trading

Forex brokers if not chosen wisely turn out to be dishonest in context to rash sales or sell points that are close to preset. You need to be able to track such behavior so as to recognize a bad forex broker from a good one. For starters one can approach fellow traders or conduct a little research through the internet. There’s no official declaration that will condone a shady forex broker and make things much easier for you. However, there are online forums threaded by users who discuss these issues and here you get to pick up on a lot of useful tips. Talking to people who have availed the services of various brokers also helps you develop an idea of traits of a dishonest forex broker that one should watch out for. Following are some clues to the same: When a forex broker says he follows firm marginal stipulations, you should also watch them being executed. The forex broker should be upfront with you and analyze the kind of ris ks you will be able to afford. Once you sign an agreement you agree to the margin set. Beyond this the buying and selling is executed by the broker. Based on the liquidity of the foreign exchange market, brokers recommend certain variable spreads. These policies aren’t so easy to grasp and can vary from broker to broker. On the other hand some forex brokers have fixed spreads irrespective of the market scenario at all times. Suck brokers turn out to be more reliable than others. Another misdemeanor to watch out for is a broker who formulates his spreads in accordance to his client’s account type. Such clients are no doubt at the receiving end of wider spreads. Larger the financial trade or the account for that matter, tighter is the spreads. It is always advisable to see policies in print rather than have it orally relayed to you by the forex broker. Many traders are initially convinced by the promises made but later learn to regret it. If a broker’s service isn’t inclusive of customer care support then its best you bid him goodbye. Novice traders in particular should ensure that the forex broker offers them complete assistance in both understanding and executing the dealings. A strong support system in the shape of your forex broker makes a lot of difference in your entire trading affair.

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How do people know that BOJ invervened in Forex market?

March 14, 2011 by  
Filed under Questions

There were any signs such as significant Yen’s price change, trading volume or anything else? Or BOJ just confessed after the intervention? I’m newbie in Forex so i need a clear explanation.
Thank you so much!

Hourly Aussie Forex Trading Stategies, Oct. 15th, 2010

October 18, 2010 by  
Filed under Videos

The Aussie uptrend is showing signs of tiring in the short term. We have fallen short of the 1.0050 target and have been operating in the lower half of the upchannel for the past several days, again revealing an upside momentum loss. However the loss of upchannel support at 98.90 would allow for a pullback to the last 97.65 corrective low. This should hold on the first test for an attempt to renew the uptrend to an eventual 1.0380 target. Be wary of failure on this rally to leave the 97.65 base at risk for a deeper test of the former 95.40 low before the next stage of uptrend. Holding 98.20 would still allow for marginal new high of 1.0050 in the form of a rising wedge pattern but we are starting to suspect a larger downside correction is inevitable.

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