By Daniel Hoffner -
Before you consider purchasing a Forex Robot, you have to pick a Forex broker to work with, and a “platform” to use. Which trading platform to use? There are hundreds of brokers in the market, which means that you connect to them through the internet, and trade through them. Usually each broker has his own platform – how your screen looks, how to track of your funds, etc. When choosing a broker its important to pick a big, regulated company, so that one morning you won’t wake up to find that your company has gone bankrupt, together with your money.
It is preferable, but not a must to pick a broker who uses a “metatrader 4″ platform. Since it has become popular lately, many robots are written for it. Some brokers offer free money, but that doesn’t mean too much, as you can’t redeem it, but it lets you enlarge your margin. Pick
a broker that gives a margin of at least 100:1 (not more than 400:1). Since we’ll recommend later on working with intraday trades, therefore its important to pick a broker who uses tenths of pips. This decreases the spreads, which is meaningful in intraday trading.
Lastly, always when starting to work with a new broker using his demo platform. Mistakes made by unskilled fingers can cost a lot of money (I meant to buy not sell). Read More
Popularity: 1% [?]
Could this be the last straw? Is this the end of Interbank FX’s fledgling retail forex business? For Immediate Release For more information contact: Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org NFA fines Utah forex dealer member, Interbank FX LLC and its principal $225,000 July 30...
By ForexMagnates – Paypal is one of the leading online payment processing companies, allowing you to send and receive money securely all over the world. This solution is particularly successful with private individuals transferring money one to another, and with small and medium sized businesses who prefer the easy billing service that Paypal...
By Forex District -The pair is higher but still trades in a tight range as traders are unwilling to take decisive measures as earnings continue to be delivered. EuroZone economic releases were quite positve signaling stabilization is under way. The German Ifo business climate came in at 87.3, higher than the 86.6 expected and the ... ...
Three Types of Trends in Forex By AboutCurrency.com A trend reflects the average rate of change in price over time. Trends exist in all time frames and all markets. Forex Day traders may attempt to establish and take action in the short-term trends to within minutes. Position and swing traders may attempt to establish and ... ...
By Core Financial Group – The USD is about unchanged in early New York after a quiet two-way overnight session that saw tighter ranges in most pairs with a few new highs in the USD against some pairs. Overnight news was light but USD-positive and technical factors appeared to be the main focus as the ... ...
By ForexYard – News in Sweden has recently added the possibility of a rise in consumer confidence as the Riksbank has extended its 50 billion SEK bailout program by an additional 6 months in order to ease lending throughout the country. The program is designed to add liquidity to banks feeling the crunch of the ... ...
By Forex Hound – An opinion piece by Federal Reserve Chairman Bernanke is helping to put pressure on the GBP USD overnight. This is leading traders to call for a lower opening in New York The article in the Wall Street Journal highlighted Mr. Bernanke’s opinion that the Fed was “confident we have the necessary ... ...
By Back Bay FX – Ever since the US Fed’s FOMC statement on June 24, we have held a fundamental position that the USD would strengthen vs. EUR and GBP (expressed as lower EUR/USD & GBP/USD). The price action of those two pairs in the last few days has caused us to close down those ... ...
By Forex Magnates – NFA’s efforts to ridicule the mandate it has been given by the CFTC have finally reached the point where it simply becomes absurd. It appears that the agency has no idea what it should be doing or what the results of its actions are. If I wasn’t sure that the NFA ... ...