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Trading Online

Written by ForexCult Team
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Trading Online When you are trading online as a forex trader there are some very important tips that you should make sure that you keep in mind. In this article, you will learn about those different tips as well as how you can apply them to the forex market. The first tip that you should remember is that you need to learn the basics that are associated with forex trading. When it comes to trading online there are many people that simply do not actually know what they are doing so in order to be able to compete against others at the highest level when it comes to trading online and in order to be able to be one of the very few that are truly successful at trading online you are going to need to be well educated when it comes to what you are doing. I am not saying that you need to have a degree from a university that is well respected because the forex market doesn’t care how or where you were able to become educated. Tips about Trading Online Another tip that you may want to keep in mind is that forex trading is referred to as a zero sum game. What that basically means is that for every long that you have there is also a short as well. So if there are eighty percent of the forex traders that are considered to be on the long side it is known that the other twenty percent are on the short side what this actually means is that the shorts are going to need to be well capitalized so that they can be considered as strong hands. As for the eighty percent, these are the ones that are holding positions that are relatively smaller when it comes to the individual traders and they are also considered as weaker hands as well that will actually be forced to liquidate the longs when there is any sudden turn in the actual prices. The third tip that you are going to need to keep in mind is quiet simple and that is that there is no one that is bigger than the market itself and the fourth tip that you are going to want to keep in mind is that the actual challenge is not to try to be the market but in turn to be able to read the market. So basically you can understand why riding the wave of the market is much better than actually being hit by the wave of the market. Trends and Trading Online When it comes to trading online, you are going to want to make sure that you trade with trends instead of trying to be able to pick the tops as well as the bottoms because that simply will not work. In fact, it is known that a trader that tries to pick the tops as well as the bottoms is actually committing a rather common mistake when it comes to trading online in the forex market. Keep this one thing in mind if you are honestly going to trade the tops and the bottoms, wait until you see that the action of the price is confirming that a particular top or bottom is going to be formed before you take the steps to take a position in the actual market. When you are trying to be able to pin point the tops as well as the bottoms when it comes to the forex market it is important that you keep in mind that it is very risky business however when you are able to exercise what is known as a little patience you can actually increase the odds when it comes to the profits and you can also in some ways lessen the risk as well. Trading Online and the Different Markets One of the things that you should also remember is that there are currently three different types of markets; you have the up trending market as well as the range bound and also the down market. It is also important that you have a different strategy for each of the different markets as well. When it comes to trading online it is important that you remember that standing aside is actually a position and that when it comes to uptrend’s you should buy the actual dips and when it comes to the downtrends you are going to need to sell the bounces. Trading online is not something that you should take lightly and think that it isn’t that important because really and truly trading online is something that needs to be taken seriously and trading online is also something that is very important to a large amount of people. If you are not sure if trading online is for you, there are many ways that you can learn about the differences in the markets when it comes to trading online. The internet has a bunch of different resources that will lead you in the right direction so that you are able to learn what you need to know about trading online.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.