Friday, November 24, 2017

Any Recommended Forex Brokers and Strategies

September 7, 2010 by  
Filed under Forex FAQ & Latest Post

Below is a question that is asked by one of our readers.

Greetings-Kelvin.I am new to FX LIVE Trading,but have DEMO Trade for about 1 year and intend to trade LIVE. Looking to open a Live FX Trade Account trading EUR/USD 5 Minute Time Frame to begin.

Kindly Recommend:
(1) ONE FX Broker in/based in Singapore/Malaysia–Reliable,NOT Trade AGAINST Traders(Win Win FX Broker WHO Assists Traders TO WIN…in various ways possible -e.g automated Trading Tools ,Indiacators,Education etc….

(2)ONE STRESS FREE Trading METHOD/SYSTEM/Trusting that Your Good Self STRATEGY with  Softwares/Trade TOOLs which will enhance higher Winning PROBABLITY and Lower RISK in Trading–using only 20 to 30 MINUTES a day to set up a HIGH PROBABILITY and LOW RISK Trade as many in the INTERNET Claiming (?).Kindly Assist and Will Be Eternally Grateful & GOD BLESS.THANK YOU in anticipation.

For the first question on the recommended broker in Singapore/Malaysia, I am unable to answer your question as my broker is not from Singapore. However I do know POEMS has a forex trading platform but I do not know whether they have a good charting platform or not as I do not any experience using it.

If anyone of you who are reading this post have any idea about reliable brokers in Singapore/Malaysia, do feel free to give your comment below.

As for the second question, I always recommend new traders to use breakout strategy for their trading as it is a very easy to spot and execute trading strategy. However I do not know of any software that is able to enhance high winning probability. In fact, those forex softwares or robots that are available in the market is not reliable.

If a software of a couple hundred dollars can generate consistent profit, who will ever need a job. Anyone will purchase the software and make money from it.

To be able to generate a consistent income from forex trading, you definitely need to spend time to practice the strategy that you want to trade until you are able to execute it with at least 60% winning percentage.

Do not believe in those advertisement that claim to be able to make you consistent income simply with a push of a button. Spend your time practicing the breakout strategy and fine tune it to suit your trading style and you will one day be able to generate extra income from trading or even become a full time trader.


One Response to “Any Recommended Forex Brokers and Strategies”
  1. Mike says:

    I have tried GFTasia. Their platform is not MT4 but 360deal-not very easy to trade compared to MT4.Swap is taken into calculation daily.when you double up on a trade (ie placing a same currency trade at a later time),trades are added together as one open position and the price is the average of the two. check out their site.

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