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Brendan Hill

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About Brendan Hill

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    Money Maker
  1. A broker should be reliable, credible and regulated as we all know that forex is a decentralized market place and a trader can face issues of fraud brokers in any moment. For this reason, a trader should first put his priority on the main trading requirements like spread, leverage, safety of funds and his trading needs. For example: if you are a scalper, you must work with a regulated broker and who will provide you lower spread.
  2. Forex traders must develop a proper trading attitude to ensure success in the market. the unfortunate fact is: millions of traders are joining the forex market: many have good potential but due to psychological barriers like anger, frustration, greed or excessive pressures of personal life, all make them away from the forex trading. When a trader is in trading life, he should try to devoid him from all the personal life matters as much as possible.
  3. There is no doubt that we should conduct proper due diligence before we can give verdict about a broker that it is the right choice for us. And for keeping this in mind, I have tried to select my broker ForexChief after conducting proper due diligences. it is ensuring me free education, free market analysis, complete safety of capital with user friendly trading package of lowest zero spread and a good leverage of 1:400.
  4. Foreign currency exchange should place orders timely. Every currency pair is not exotic here. A forex trader must choose the right pairs as per his trading needs. Major currency pairs can be a good selection for those traders who don’t want to fall in high fluctuations. As USD is the most common currency traded in any corner of the world I feel that it is easier to trade with major pairs when compared to common currencies.
  5. With all the demands of forex traders, the number of forex brokers is increasing day by day. And a foreign currency exchange trader should choose the broker that will help him to achieve his trading needs. So, if you are a risk adverse investor and wants more profit then the trader should choose a regulated broker and which will offer him lower transaction costs. So, a trader must be careful in selecting his broker.
  6. With the advancement of technologies, forex has become a reliable earning source for those people who requires a more flexible earning opportunities. And many infrastructural benefits are making forex as a better earning source but at the same time it possesses greater risks of losing money. So, if a trader tries to trade devoid of proper risk management, then he may face difficulties to survive in this competitive market place.
  7. Confidence can be an added advantage for any foreign currency exchange trader. But excessive confidence level sometimes destructs the forex traders from analysis and rational decision making process thereby. To avoid this excessive confidence, we should analyze every trading session and focus on your profit-loss. It should not be remembered that you can lose even our whole account at the blink of eyes. Sometimes, we can’t afford mistakes as mistakes sometimes can be harmful for the whole trading voyage.
  8. An adequate trading knowledge and expertise can help a forex trader to become successful to a greater extent by combating the negative attitudes. And my broker ForexChief is ensuring me continual expert supports so that I can always take participate in right trade executions. I am enjoying a contended life as this licensed broker is ensuring me lowest zero spread, good leverage of 1:400, re-quote and slippage free timely trade executions with an easy transaction facility always.
  9. Forex is taking good place when it comes to the matter of virtual earning platform. No other investment opportunity is as so flexible, release and easily reachable to everyone, no matter whether a trader wants to make large investment or smaller investment. A forex trader can trade with fewer limitations. A forex trader can trade only with a smaller amount of investment if he choose a broker and internet enabled laptop to reach the market.
  10. Foreign currency exchange trader needs to work with the best trading platform that will help him to achieve his trading objectives. And selection of appropriate broker is always essential for a forex trader. And among thousands of online brokerage houses it is not going to be an easy task for a forex new baby. A forex trader must conduct all due diligences before he can start working with any broker.
  11. The good news is: people are engaging in forex market and earning money successfully. However, number of losers is not very minor. To reach the market a foreign currency exchange trader will require good trading platform. A foreign currency exchange trader will need to choose trading platform after understanding all his trading needs. To work efficiently, a foreign currency exchange trader will must select trading strategies as per his trading needs.
  12. There are some considerable differences between live trading and demo trading. When we are practicing with demos we can afford to do mistakes as we are dealing with artificial money here. But while with live accounts; we needs to be deal with the uncertain market place, its movement as at the blink of eyes we can lose the whole trade. So, a mental issue is always related with live trading.
  13. Trading in the forex market can be a difficult phase for a foreign currency exchange market if he wants to trade alone without a forex broker’s help since trading requires troublesome processes and time consuming analytical approaches in many cases and a trader may require expert assistance in this regard. But I am happy that my broker ForexChief is ensuring free economic analysis, free training and education facilities always so that my conducting of analytical approaches can be easier.
  14. Broker is the medium that can act both the medium and expert assistance so that a forex trader can reach the market and it can help a forex trader to connect with the counter parties and take participate in successful trading decisions always. Again, without regulated broker this trading journey can be difficult as forex is an over the counter market and there is no specific regulatory authority to ensure safety.
  15. With the leverage though your trading capacity will be higher; it will raise your trading risks also. Thereby, for new trader I think working with your own capital can be quite good option. And obviously to get success you will require adequate trading knowledge and skills so that you can ensure right trading decisions. So try to get acquaintance with the forex trading by working with demo trading account along with the help of other theoretical learning tools.