TRADING SMART No.6
BE AWARE OF BROKERS - BROKES ARE CROOKS
FX BROKERS ARE NOT CALLED BUCKET SHOPS FOR NOTHING. THERE IS A REASON FOR IT.
HAVE YOU EVER TRIED TO TRADE ON LOWER TIME FRAMES JUST TO SEE HOW THE PRICE TURNS 1 PIP FROM YOU TARGET
AND THEN GOES 30 PIPS IN THE RED..
OR PRICE HITS YOUR TARGET BUT YOU DONT GET THE PROFIT..
YOU THEN CONTACT YOUR BROKER AND THEY BLAME THE SPREAD AND SLIPPAGE AND YADDIYADDA....BS!..
YOU ARE WITH A CROOKED BROKER
DONT THINK FOR A SECOND THAT THE CHART AND PRICE ACTION YOU SEE IS REAL.
IT IS ONLY WHAT THE BROKER WANTS YOU TO SEE.
THEY WANT YOUR TRANSACTIONS AND DONT GIVE A F IF YOU WIN OR LOOSE. PEOPLE LIKE US COME AND GO EVERY DAY.
HERE IS THE THING, THE ONES MAKING THE MOST MARKETING ARE THE ONES TO STAY CLEAR OFF. THATS THE FIRST RULE.
2ND, DONT TRADE ANY TIMEFRAME UNDER THE DAILY IF YOU WANT TO SAFEGUARD YOUR ACCOUNT.
THIS SINCE HIGHER TIME FRAMES MITIGATES WHAT BROKERS TRIES TO DO AND THEY MUST THEMSELVES TAKE A LARGER RISK TO TRADE
AGAINST YOU AND THEY WONT.
3RD. THERE ARE VERY FEW BROKERS YOU CAN TRUST OUT THERE. I KNOW OF ONLY ONE (INTERACTIVE BROKERS)
NOW HOW DO YOU KNOW, WELL GOOGLE THEM.
DO THEY GET FINED EVERY YEAR FOR TRADING AGAINST THEIR TRADERS... ARE THEY ON THE FCA WATCH LIST...
AND SO ON. MOST ARE UNDER CLOSE SUPERVISION..WE AS TRADERS JUST DONT KNOW THAT
DO YOURSELF A FAVOR AND DONT THINK FOR A SECOND THAT THE YOUR BROKER IS ON YOUR SIDE WITH THEIR SWEET SUPPORT SERVICE,
EMAIL UPDATES, TOOLS, FANCY DEBIT CARDS AND WHATNOTS.
DO YOUR RESEARCH AND GO WITH BROKERS WITH A CLEAN SHEET. THE REST..WELL EFF THEM..THEY ARE BEGGING TO BE PUT OUT OF BUSINESS.
BE AWARE OF BROKERS - BROKES ARE CROOKS
FX BROKERS ARE NOT CALLED BUCKET SHOPS FOR NOTHING. THERE IS A REASON FOR IT.
HAVE YOU EVER TRIED TO TRADE ON LOWER TIME FRAMES JUST TO SEE HOW THE PRICE TURNS 1 PIP FROM YOU TARGET
AND THEN GOES 30 PIPS IN THE RED..
OR PRICE HITS YOUR TARGET BUT YOU DONT GET THE PROFIT..
YOU THEN CONTACT YOUR BROKER AND THEY BLAME THE SPREAD AND SLIPPAGE AND YADDIYADDA....BS!..
YOU ARE WITH A CROOKED BROKER
DONT THINK FOR A SECOND THAT THE CHART AND PRICE ACTION YOU SEE IS REAL.
IT IS ONLY WHAT THE BROKER WANTS YOU TO SEE.
THEY WANT YOUR TRANSACTIONS AND DONT GIVE A F IF YOU WIN OR LOOSE. PEOPLE LIKE US COME AND GO EVERY DAY.
HERE IS THE THING, THE ONES MAKING THE MOST MARKETING ARE THE ONES TO STAY CLEAR OFF. THATS THE FIRST RULE.
2ND, DONT TRADE ANY TIMEFRAME UNDER THE DAILY IF YOU WANT TO SAFEGUARD YOUR ACCOUNT.
THIS SINCE HIGHER TIME FRAMES MITIGATES WHAT BROKERS TRIES TO DO AND THEY MUST THEMSELVES TAKE A LARGER RISK TO TRADE
AGAINST YOU AND THEY WONT.
3RD. THERE ARE VERY FEW BROKERS YOU CAN TRUST OUT THERE. I KNOW OF ONLY ONE (INTERACTIVE BROKERS)
NOW HOW DO YOU KNOW, WELL GOOGLE THEM.
DO THEY GET FINED EVERY YEAR FOR TRADING AGAINST THEIR TRADERS... ARE THEY ON THE FCA WATCH LIST...
AND SO ON. MOST ARE UNDER CLOSE SUPERVISION..WE AS TRADERS JUST DONT KNOW THAT
DO YOURSELF A FAVOR AND DONT THINK FOR A SECOND THAT THE YOUR BROKER IS ON YOUR SIDE WITH THEIR SWEET SUPPORT SERVICE,
EMAIL UPDATES, TOOLS, FANCY DEBIT CARDS AND WHATNOTS.
DO YOUR RESEARCH AND GO WITH BROKERS WITH A CLEAN SHEET. THE REST..WELL EFF THEM..THEY ARE BEGGING TO BE PUT OUT OF BUSINESS.