http://www.theforexnittygritty.com/forex/picking-a-forex-broker Picking a Forex Broker Forex trading happens online. This makes picking a Forex broker important because the broker and his trading platform are your connection to the markets. You may be able to learn how to trade currency but you need the tools to connect to trades in order to make any money. Here are a few thoughts about the important details of picking a broker. It Is a Nano Second World A nano second is a billionth of a second. Electronic trading by fast computers takes place in bare fractions of a second. A pertinent thing to ask when picking a Forex broker is just how fast are trades executed with his platform. What is the reliability of his system? Are trades routinely executed rapidly and without fail or are the glitches that will leave you hanging out there in what quickly becomes a bad trade that you cannot get out of? Nuts and Bolts Just how are your orders filled? A good trader sets his stops as he trades. You buy Euros with Yen and at the same time set a price at which to sell and take a profit and a price at which to sell and limit your loss. The bottom line question in picking a Forex broker is if your trading stops are guaranteed by the broker. There should be a precise description of order execution policy available for you to read and fully understand before picking a broker. How Much Are You Paying? It is totally possible trade all day long with small winning trades and lose money at the end of the day. In picking a Forex broker be clear about if there is a commission structure. The majority of Forex brokers do not charge a commission but rather make their money from the bid-ask price spread. If, however, your broker charges commissions instead you need to be totally clear about what you are paying and how it will eat into your hard earned profits. Necessary Tools for Trading The trading platform that you use and the broker should have tools available to you online. These include news feeds, statistical charting and predictive programs and even live commentary on the markets. An alert service is also handy to help you spot where the action is. Leverage The vast majority of traders use 50 to 1 leverage or less. There are, however, brokers outside of the USA that offer as much as 200 to 1. In picking a broker be careful of outliers. Very high leverage can in fact lead to great profits and it can also lead to great losses.There are a lot of profitable fundamental and technical Forex strategies. But none of them is really based on an all or nothing approach to winning it all in a couple of trades. Beware in picking a broker of those offering too much leverage. Help when You Need It There is nothing more frustrating than a computer program, computer or trading system that develops glitches or just plain shuts down when profit from a great trade is in sight.

1. By: www.TheForexNittyGritty.com

2. Forex trading happens online. This
makes picking a Forex broker
important because the broker and his
trading platform are your connection to
the markets.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

3. You may be able to learn how to trade
currency but you need the tools to
connect to trades in order to make any
money.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

4. Before We Continue…
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5. Here are a few thoughts about the
important details of picking a broker.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

6. It Is a Nano Second World
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

7. A nano second is a billionth of a
second. Electronic trading by fast
computers takes place in bare fractions
of a second.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

8. A pertinent thing to ask when picking a
Forex broker is just how fast are trades
executed with his platform.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

9. What is the reliability of his system?
Are trades routinely executed rapidly
and without fail or are the glitches that
will leave you hanging out there in what
quickly becomes a bad trade that you
cannot get out of?
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

10. Nuts and Bolts
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

11. Just how are your orders filled? A good
trader sets his stops as he trades.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

12. You buy Euros with Yen and at the same
time set a price at which to sell and take
a profit and a price at which to sell and
limit your loss.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

13. The bottom line question in picking a
Forex broker is if your trading stops are
guaranteed by the broker.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

14. There should be a precise description of
order execution policy available for you
to read and fully understand before
picking a broker.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

15. How Much Are You Paying?
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

16. It is totally possible trade all day long
with small winning trades and lose
money at the end of the day. In picking
a Forex broker be clear about if there is
a commission structure.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

17. The majority of Forex brokers do not
charge a commission but rather make
their money from the bid-ask price
spread.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

18. If, however, your broker charges
commissions instead you need to be
totally clear about what you are paying
and how it will eat into your hard
earned profits.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

19. Necessary Tools for Trading
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

20. The trading platform that you use and
the broker should have tools available
to you online.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

21. These include news feeds, statistical
charting and predictive programs and
even live commentary on the markets.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

22. An alert service is also handy to help
you spot where the action is.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

23. Leverage
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

24. The vast majority of traders use 50 to 1
leverage or less. There are, however,
brokers outside of the USA that offer as
much as 200 to 1.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

25. In picking a broker be careful of
outliers. Very high leverage can in fact
lead to great profits and it can also lead
to great losses.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

26. There are a lot of profitable
fundamental and technical Forex
strategies. But none of them is really
based on an all or nothing approach to
winning it all in a couple of trades.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

27. Beware in picking a broker of those
offering too much leverage.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

28. Help when You Need It
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

29. There is nothing more frustrating than
a computer program, computer or
trading system that develops glitches or
just plain shuts down when profit from
a great trade is in sight.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

30. In picking a broker make sure that
there is twenty-four hour a day support,
both online and by telephone.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker

31. When you want trade Forex to hedge
business risk or to speculate on the
markets picking a broker is an
important first step.
By: http://www.theforexnittygritty.com/forex/picking-a-forex-broker