There are many good Forex brokers, however, when it comes to choosing one for an expert trader, the list shortens to a certain degree. What makes a Forex trader an expert? Is it a high winning percentage or the ability to forecast future price levels with uncanny accuracy? Is it the ability to stay out of trades altogether when the Forex market is quiet and not showing much price change activity? Those factors are important, of course, but many relatively new traders can perform at a similar level at having a high percentage of winning trades and analyzing the market for purposes of prediction. Interestingly, the ability to avoid trading when it is a complete waste of time is often difficult for newer traders. Beyond all that, an expert trader is one who trades in exceedingly large numbers of currency units. Just as a casino might impose upper limits on the amount gamblers can wager, a Forex broker might not have the financial resources to deal with a Forex trader who thinks in terms of millions of currency units. Such brokers frequently impose a limit on the number of units of the base currency of a currency pair that is permissible to be traded.
via Forextra - Forex Trading Explained: Tips, Strategies + More For FX Currency Trading http://ift.tt/1T6aYi6
via Forextra - Forex Trading Explained: Tips, Strategies + More For FX Currency Trading http://ift.tt/1T6aYi6