Since the Forex Market Makers create the market, you may not be satisfied with the kind of market they created for you in one day. Not all the Market Makers trade against their clients, but all of them have the right to do so. As long as the Market Maker is just taking the opposite side of the trade, everything is fine, who cares who is going to support the losses when you make profits. But the problem is that many Market Makers, once they start trading against you, in order to increase their chances of succeeding, start manipulating the currency quotes. You may see quotes that no other broker will offer, you may see spikes on your chart that no other chart with any other broker will have. These are the kind of details that every Forex trader should be aware of. Continue reading
Market Makers or the Las Vegas of the Forex industry!
Posted in Forex Basics
Tagged Dealing Desk, ECN Broker, Forex, Forex Broker, Forex Market, forex trader, Forex Trading, Market Maker
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ECN Forex brokers – a must for Forex trading!
There are a few different types of Forex Brokers:
Forex Market Makers or Dealing Desk Brokers (DD) – A dealing desk broker makes money via spreads and by trading against his/her clients. Every time traders want to buy, they sell to them, when traders want to sell, they buy from them. A trader doesn’t see the real market quotes which allow Dealing Desk Brokers (Market Makers) to manipulate their quotes where they need to.
STP – Straight Through Processing – STP Forex Brokers send orders directly from clients to the liquidity providers – banks or other brokers. The fact that traders have Continue reading
The only way to become a profitable FOREX trader!
To start making money on the market, you first need to educate yourself on the principles of FOREX trading. Everyone can open a real FOREX trading account and start executing trades, but if you want to be a FOREX trader not a FOREX gambler, you need to rely on you knowledge of the market every time you place a trade, not on your luck or intuition or whatever else.
Below is a picture of a FOREX trader that I have found on the internet:
What I like about this picture and many other similar pictures posted on the various web pages dedicated to FOREX trading is that actually as per most people this is what a real FOREX trader looks like. That’s funny, because you don’t need to be surrounded by 10 PC monitors in order to make money on the market, also Continue reading
You can do this – you can become a FOREX trader!
So, let’s see how you can join the club and become a FOREX trader:
- First of all you need access to the internet. Probably most of the FOREX brokers still allow customers to execute trades by phone, but I don’t think in this day and age many people still use this option. You don’t need a super-fast internet connection because there isn’t too much data you need to send or receive however, you do need a stable internet connection.
- Next you need a FOREX broker. Without a broker you cannot gain access to the market and execute trades. Once you have decided on which broker to work with, you need to open a FOREX trading account.
- There are two different types of accounts, real FOREX trading accounts and Continue reading
