Forex Trading Channels

As people begin their trading journey and contemplate developing an investment portfolio of their own, whether it is by buying and selling shares, bonds, mutual funds, futures, or trade currencies they will come across the term broker and brokerage account. Before traders are allowed to start trading they will be required to approach brokers with whom they can open a brokerage account through which they will be able to buy and sell instruments of their preference. Brokers buy and sell shares, bonds etc on behalf of their trader clients against a fee or commission. The fee or commission can be as low as $5 or ten dollars, or can even be more and go up to a few hundred US dollars, assuming we are talking about opening account in the United States of America. Brokers and brokerage accounts are mainly of two types, traditional broker account also called full service brokerage account; and discount broker accounts. Brokerage Account Fee Structure or Format: Fee structure has

Having no idea what a broker charges for their services, makes it hard to consider one. Without doing the homework ahead of time, one may find himself blindly walking into a broker’s office, gets “pumped up” by the broker, only to be hit up with an unpleasant surprise when presented with astronomically high fees. This is simply a waste of time for both the broker and the potential investor. Still, every investor needs a broker, especially beginners. Fortunately, not all brokers charge sky high fees nor have the same minimum requirements. It pays to shop around rather than select the first broker you hear about or see. Some brokerage firms reside in high-rent, fancy offices, have high overhead costs and therefore charge more for their services. Other firms operate online and simply need just a computer with internet access. Since they work out of their homes, they can provide the same service for much less. Having a broker you can interact with personally may seem nice,

There are too many ways to hold the winning positions. Different traders have different strategies for this. Some traders prefer to collect some profit through some of the winning positions, and then hold the other positions for as long as the market moves accordingly. This is what I do too. I take two positions with the same stop loss when I locate a too strong trade setup . One of the positions has a 5 x SL target , and the other one has no target. When the first position hits the target, I move the second position’s stop loss to breakeven and hold it. The question is how long I hold the second position. I use several different ways to decided whether I should still hold the position or not. One of the ways is formation of a too strong reversal trade setup. When a too strong short trade setup forms while I have a long position based on a too strong long trade setup , I have to close my long position and collect my profit. I do it when a too strong reversal trade setup