The financial industry has been one of the most appreciated and rewarding jobs in the world, especially for traders who got involved in the forex industry or the foreign exchange industry. The forex market is the most liquid market in the world by far compared to the stock, bond, commodities, futures, derivatives and options markets.
The fact, that it is the most liquid also meant that they also have one of the most complicated strategies to profit from by far. This was made even more difficult by the fact that the forex market does not have a central exchange and it is mainly dependent on the over-the-counter exchanges made by the bank and the client.
This is where the trader comes into play, your job as trader is to take advantage of the fluctuations in price when the bank and its client make the exchange.
To do that you will need a trading strategy that identifies these levels where the banks are probably likely to do business at in an effort to get a profit from the client, and the client will try as well to get a discount on the exchange so that they do not take a hit on their transaction. The only way to spot a Real Forex trader is by knowing what to look for in Real Forex traders.
Real Forex Traders
Real Forex traders have one thing in common that separates them from the struggling or snake oil traders. The Real Forex traders have a clear, loving relationship with the forex market; this is what keeps them going even when the markets are tough and are not offering the opportunities that will offer them proper returns in the long run.
The Real Forex traders can adapt to different forex market conditions; they can trade in ranging market environments, trending environments and highly volatile environments this gives them the ability to make money all year round and they also know when to stay out of the markets to reduce their exposure and clamp down on risk greatly.
They also know that forex trading is about managing risk and conserving capital and it is not what everyone paints it to be as a get rich quick scheme.
They also have a clear explanation for every trade they take, they know why they took it, they know their risk beforehand, and they know when to take their profits as well, they do not take their profits prematurely and they do not alter their risk threshold before it is hit because they are comfortable with it as it is.
Most of all Real Forex traders are confident in their abilities, and they do not fret in situations they did not expect because they prepare well and they have a plan for unlikely situations.
The Real Forex Broker
Every Real Forex trader knows that their abilities and skills can only be showcased if they are given the best services, trading technology, rice quotes and competitive commissions and spreads to support profitable trading and this can only be achieved if you have a Real Forex broker.
To identify a Real Forex broker, you should first know which type of trader you are because without this knowledge then you will have a hard time deciding which broker to go with; you are either a high-volume trader, a long-term trader, or a mix of the two. This will help you very much on making a decision on whom to select as your broker.
- A good broker firstly is well regulated by the bodies of the particular countries they are situated in and they have this information on their website for everyone to see.
- Secondly, they have a compensation scheme for their clients in the event they go burst.
- Thirdly, a Real Forex broker has well-recognized liquidity providers, and they do not run a dealing desk in-house to trade against their clients.
- Fourthly, they have a well-structured transaction system that offers fluid deposit and withdrawal options for their clients.
- The fifth aspect is the trading technology; you should not have a broker who has a trading platform that lags because this will impact your trading negatively for the most part, rather have a broker who offers multiple trading platforms for you to select either that suits you best.
- The sixth aspect is their customer support system; they are always available at the time they claim to be available, and their services should be satisfactory.
In the event, you have a broker, who does not tick any of the stated aspects you should be keen to ask questions and do more research on them before opening an account with them.
Real Forex Signals
The idea behind forex signals is simply based on the need to diversify a trader’s income ability. The thing is getting Real Forex signals can be quite the hustle, and that is what many people find taxing, and that is exactly what this section will address and help you identify Real Forex signals.
The Real Forex signals can only be gotten from Real Forex traders and nowhere else, so by identifying a Real Forex trader with a proven track record that way you can get Real Forex signals.
Also, to get Real Forex signals you should use a trusted forex signal portal to avoid any technical difficulties as you receive the signals from the provider.
Real Forex Trading
To sum up, everything stated above one should know that Real Forex trading can only be acquired by learning the best-proven concepts that have worked in various market environments and they have been modified to fit each user’s personality.
The most important thing is conforming but having your own voice to express your ideas in the market and using the best risk and equity management ideas. As a trader, your job is not re-inventing the wheel rather using the wheel to get yourself to that destination which is consistent profitability.