Right heres a bit of free info, see it as a treat for joining this telegram and also if you can apply.
Right now brokers are ultimately the guy between us and the market. Why do we need them? Because as small fishes we are not able to get direct access to the market.
Following this they have their rates and are able to create their own rates becoming a market maker, what that means if if you are on STP you are direct to the exchange server
Market you will be with the broker.
So example IG their slips are DISGUSTING and I hate them but they are a seriously safe company to have your money with. They slip you out 2/3 pips closing your trades or TP early as its market conditions. All companies do this but they do it to a extreme.
As if you was with STP with them you wouldn’t get it as bad.
NOW finding the right broker has a few things you should look for, history and the fact that your money is secure. As if they are their own small entity they can hold your money, delay withdrawals, slip you on trades all kinds of headaches… which will also distract your trading.
They need to be regulated by your jurisdiction, know how much by (message me if you are unsure)
Make sure that you are aware of your AM and touch base to know how your account works.
Lastly make sure your account is the correct type.
Now there are MANY good brokers and MANY bad.
Here are my recommendations and you are welcome to use them as its a referral link for me and also you will be under the same AM. If you are happy with yours already thats also fine just make sure they are who they say they are.
If you enjoyed the post please leave a comment below.
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FOR TRADING ACCOUNTS;
Trading platform is a big thing for me personally, I think its something thats vastly important to have the right tools to give you the extra edge in order to make the correct market conditions.
There are many many trading platforms out there and you have to find what works for you, just to name a few;
- The MetaTrader range 4/5 etc
- Pro Real Time
- Trading View
And many others including brokers with their own platforms.
If you ask me the cleaner the charts the better, in forex especially there is alot of noise in the markets to take out the people who don’t know what their doing and its important you spend the right amount of time putting in the work to find these levels with the tools you are given.
This isn’t a sponsored post but I use Pro Real Time, I am just sharing what works and it might help you get a bit of a insight. I know alot of traders who use trading view also.
However meta trader to use as charting personally I don’t believe is enough, there are traders who use it and thats fair play, but in reality why wouldn’t you spend £15 a month just to have cleaner integrated charts. Free charts are free for a reason, the way you set them up, the way you alight them all different.
Take a look there are many free trials around for you just to try for a month, MT4 I still use to execute my trades for my own account and for the fund I manage.
Ultimately charting and execution should be different, I don’t like it on the screen going up and down, prefer it on a platform and keep my charts clean as they sit.
Charts below of my current set up, however I mark every trade with buy/sell signals to review myself and share with you and the APM team.
If you enjoyed the posts I am creating please share and leave a comment to help encourage me to create more! Thanks all!