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Written by ForexCult Team
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Trading When it comes to trading online, there are many different things that you are going to need to keep in mind. In this article, you are going to learn about a couple of those things that you should always keep buried in your mind so that if you ever run across a particular situation, you will be able to actually understand what is really going on. The first thing that you should know is that in a bull market you are going to never want to sell a dull market and when you are trading in a bear market you are going to never want to buy a dull market. Also when you are trading in an up market as well as in a down market you are going to see that the trading patterns are known to always be present and there is always a time when one of the trading patterns is going to be more dominant. When you are trading in an up market you are going to find that it is quiet easy to take one sell signal after another one and the end result is that you are stopped out over and over again, so basically when you are trading you are going to need to select the traders that have a trend. Trading and Buy Signals When it comes to trading it is very important that you remember that a buy signal that actually fails is referred to as a actual sell signal and in turn a sell signal that in turn fails is actually a buy signal. You should also remember that you are going to need to let the profits that you make run and you are going to want to cut the actual losses short. It is very important that you let your individual profits run so that you don’t actually let greed cross over and get in the way. It is also known that once you have actually already made what is referred to as a nice profit on that particular trade you should make one of two choices, the first choice that you can make is to decide to take some of the money that is on the table off and move on to the next trade or you can decide to take all of the money on the table off and move on to the next trade. It is also natural that you have hope that one of the trades will actually end up being a winner but it is not actually realistic. You should never hold a position for a really period of time because of the fact that you will end up giving all of the profits that you made back to the market itself. Trading and Protective Stops When it comes to trading it is very important that you use prospective stops so that you are able to limit the losses that accompany trading. In trading you should always make sure that you are able to use the appropriate stop loss orders at all of the different times so that you are in turn able to cut your losses and when it comes to trading you should also remember that you should never just sit back and also let the losses that you have encountered run. Trading is not something that you are going to learn overnight but trading is something that you can learn to be good at over a period of time. There are many different types of trading and there are also many different styles of trading as well so if you are interested in trading all you have to do is take the time to learn about trading. There are many traders out there that are involved in trading that do not have one clue what they are doing and that is one of the main reasons why they are no good at trading. When you are trading you have to be able and willing to learn about trading. Trading and Placing Stops When it comes to trading and placing stops, it is very important that you remember to avoid placing the actual protective stops on the round number that are involved in trading. The protective stops when you are trading with the long positions should in all actuality be places below the actual round numbers and when you are trading in the short positions the stops should be placed above the numbers. When it comes to trading, being able to place the stop loss is actually an art and also in reference to trading you will see that the trader must combine the technical factors on the actual price chart that has the money management considerations. There are many different types of trading and in order to be able to find the right type of trading for you, you are going to have to take the time to look around.

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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.