Rather than blame your broker look at your methodology of trading. I have worked in a brokerage and can tell you they love day traders why? Because they get lots of trades and commission (or make on the spread) and if they are market makers ( and a huge amount are) they know that the account equity is going in their pocket 100%.
The second principal of trading system development must be KISS (keep it stupid simple). Our natural tendency is to make a trading system too complex. Systems that start off with a few simple rules end up transforming into complex system if you keep adding new rules to include or exclude some special situations. You should be able to memorize the rules of your system. If you can't keep the rules in mind to immediately recognize a trading signal then your system is too complex.
When a price is rising strongly. momentum will be rising. What you need to look for is a divergence of momentum from price i.e. prices continue to rise while momentum is turning down. This is known as divergence and trading it, is one of the best currency trading techniques of all, as it's warning you the trend is about to reverse and prices will fall.
This is an excellent way to feel yourself into the market as you put together your own forex trading strategy and have the automatic forex trading software in the background making sure your emotions don't run away with you and cause you to do something silly! Like lose all your money.
You will also read a lot of investment wisdom that says risk only 2% per trade, well if you are a small forex trader with a $5,000 account, that's just that's $250.00!
Wade Scott and Steve Cook are the Co-founders and Analysts of forex-trading-coaches. They have been developers, traders and coaches since 2004. They developed the MACD 3 day/swing trading system by using their skills obtained in trading in all market conditions conceivable. This system has been proven highly reliable over a long period of time.
This is really a complete opposite of how most people trade forex nowadays. If you think about it, we live in a trading community where we always want MORE. More indicators, trading robots, bells and whistles. This is the complete antithesis of how most successful traders made their money. They always thought that the more things you threw on a chart, the more complicated trading became.
You are after the bigger price at the end of the trade. Once a trend is in motion, we like to trail stops behind the 40 day ma. Sure, we give a bit back at the end but you don't know when a trend is over, or how long it will last, so there is no point in predicting.
The second principal of trading system development must be KISS (keep it stupid simple). Our natural tendency is to make a trading system too complex. Systems that start off with a few simple rules end up transforming into complex system if you keep adding new rules to include or exclude some special situations. You should be able to memorize the rules of your system. If you can't keep the rules in mind to immediately recognize a trading signal then your system is too complex.
When a price is rising strongly. momentum will be rising. What you need to look for is a divergence of momentum from price i.e. prices continue to rise while momentum is turning down. This is known as divergence and trading it, is one of the best currency trading techniques of all, as it's warning you the trend is about to reverse and prices will fall.
This is an excellent way to feel yourself into the market as you put together your own forex trading strategy and have the automatic forex trading software in the background making sure your emotions don't run away with you and cause you to do something silly! Like lose all your money.
You will also read a lot of investment wisdom that says risk only 2% per trade, well if you are a small forex trader with a $5,000 account, that's just that's $250.00!
Wade Scott and Steve Cook are the Co-founders and Analysts of forex-trading-coaches. They have been developers, traders and coaches since 2004. They developed the MACD 3 day/swing trading system by using their skills obtained in trading in all market conditions conceivable. This system has been proven highly reliable over a long period of time.
This is really a complete opposite of how most people trade forex nowadays. If you think about it, we live in a trading community where we always want MORE. More indicators, trading robots, bells and whistles. This is the complete antithesis of how most successful traders made their money. They always thought that the more things you threw on a chart, the more complicated trading became.
You are after the bigger price at the end of the trade. Once a trend is in motion, we like to trail stops behind the 40 day ma. Sure, we give a bit back at the end but you don't know when a trend is over, or how long it will last, so there is no point in predicting.