Australia's largest stock trading and investment forum Australia's #1 stock forum

Forex Weekly Thread 2nd July, page-50

First 50 Last

Share
Profile

Follow
specgoldbug

13,113 Posts.

392

03/07/17

16:42

Post #: 25635951
Share

Originally posted by rvm ↑

Hey sgb,

I'm no authority on forex brokers. At the end of the day if you're on the wrong side of the trade or when there's act of god(central bank surprise), brokers can't save you. Control leverage and place stops and hope that your broker will exit you where you placed your stops and not 100 pips away!

The closest thing that I know which can protect you when price moves against you is IG's GSLO, but they're not intended for scalpers and short term players and they're not available at reasonable distance except on the most liquid currency pairs.

If you're intraday trader betting size and need 'trustworthy' pricing, I'd stick to banks - they have better liquidity pools and counterparties. Knowing how your broker has performed when price has spiked is useful, but doesn't guarantee that the next time there's a 'major' incident their best price execution is going to save your rear. If you don't like that, move to other product - they're 'less' risky.

I know very few retail traders who are successful trading size ($50~$100/pip) intraday fx, but they trade no more than couple patterns and if they don't see a pattern, they won't trade. Most lose money intraday.

Expand

Cheers for your input....great advice for people considering trying their hand at forex or already at it...

This sure is not the faint-hearted and requires precision technical ability

I use IG - it's quite good and reputable
2 Upvote

Reply

Top Stories

PFE

Pantera begins drilling of maiden test well at Smackover

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

RNX

Renegade hits best pXRF copper reads yet at Mongoose, part of QLD Cloncurry project

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

C29

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

There are more pages in this discussion • 70 more messages in this thread...

First 50 Last

Forex Weekly Thread 2nd July, page-50

Pantera begins drilling of maiden test well at Smackover

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Renegade hits best pXRF copper reads yet at Mongoose, part of QLD Cloncurry project

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

Featured News

Featured News

Forex Weekly Thread 2nd July, page-50

Top Stories

Pantera begins drilling of maiden test well at Smackover

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Renegade hits best pXRF copper reads yet at Mongoose, part of QLD Cloncurry project

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

Featured News

Featured News