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Now,we have a list of 106 MT4 Brokers and now the big Question
-what is a really more respectablly Broker relative Withdrawal of money
-with a good work of EAs in a Live-Account
-with a good Clientsupport
-with a good server stability
Have everybody a Broker with these characteristics or have everybody experience with a relatively good Live-Account?
I am search a Broker (no Russian or Swiss),where I can work EAs and that reasonably disburse .
Under this new thread titled "LIVE EXPERIENCE", would you allow me to add one more topic to discuss??? this one is related to broker's attitude.
I have been months (still new) studying forex trading, mostly technical, but now its time to consider broker's attitude, since i believe it will affect in what we suppose to expect in forex industry.
Bassically, all brokers are expecting for many customers. The question is: Do they REALLY expect the customer to get profit? When a customer/investor wins, surely he/she will stay longer to trade more, and broker will also be happy. But what if the customer then ALWAYS win TOO MUCH?
I believe the ecpectation of 10%-20% profit per much is acceptable, many of you can achieve this consistently. BUT, what if someone can turn 1,000$ into 10,000% within a month? with the same percentage of growth, what if someone can turn 100K into 1Million within a month? Can brokers accept this and let this customer keep trading with them?
I have heard from a friend, that he also heard from somebody else, that scalping method is mostly not accepted by brokers. I have seen someone doing scalping only on demo and turn 1K into 100K within a week, which is hardly to do with another trading method. However, I believe that what matters by brokers is just whether you win TOO MUCH or lose. Am I correct? If you lose, who cares! Surely your broker wont protest that you lose using scalping technique, and then give all your money back.
Well, I hope many of you can share your live experience here. Remember, this is not about scalping, that was just a sample I took. This is more about the broker's attitude and how they react to someone who always WIN TOO MUCH. Knowing this will definetely affect what we expect in forex, and would teach us how to deal with brokers, or "which" broker to chose.
Brokers don't like a trader to make high frequency trades with quick turnaround. That is, a trader who places many trades a day and closes each trade within a few minutes. That does not give the broker time to hedge the trades in the interbank market or to offset the trades against trades by other traders. However, if you are a successful trader who can win consistently on trades lasting hours or days, a good broker will have no problem with that. If you are really good, they will shadow your trades. That is, for every 100k lot you trade, they will take a 1000k position in the same direction, and close their trade when you do. Brokers like losers, but they love ace traders.
Brokers don't like a trader to make high frequency trades with quick turnaround. That is, a trader who places many trades a day and closes each trade within a few minutes. That does not give the broker time to hedge the trades in the interbank market or to offset the trades against trades by other traders. However, if you are a successful trader who can win consistently on trades lasting hours or days, a good broker will have no problem with that. If you are really good, they will shadow your trades. That is, for every 100k lot you trade, they will take a 1000k position in the same direction, and close their trade when you do. Brokers like losers, but they love ace traders.
i think that is right.. they don't like traders who trade less than 10 mins..
and thanks.. my trades usually last hours and sometimes days.. but i am no ace trader though..
unexperienced traders enter the markets focused on how much money they stand to make
Professional traders do the exact opposite, they focus on how much money they stand to lose
Good morning.
I've tried today MIG on NFP news on real account, I was a little scared, but the behavior of the platform was excellent! Ihave none problems with my trades, except sometimes a little slow execution, but that's normal in a rally.
Otherwise, in my first real account week I've lost some money, but nothing to do with my broker, it was just bad money management and stop loss too far away.
So far, I'm glad with MIG.
Brokers don't like a trader to make high frequency trades with quick turnaround. That is, a trader who places many trades a day and closes each trade within a few minutes. That does not give the broker time to hedge the trades in the interbank market or to offset the trades against trades by other traders. However, if you are a successful trader who can win consistently on trades lasting hours or days, a good broker will have no problem with that. If you are really good, they will shadow your trades. That is, for every 100k lot you trade, they will take a 1000k position in the same direction, and close their trade when you do. Brokers like losers, but they love ace traders.
Though I don't know what is involved exactly when it comes to the brokers hedging their postitions, I am pretty confident that for anything liquid, the time taken to effectively complete this can be measured in seconds at the most, more likely it's micro-seconds. So I have always had difficulty with this oft-repeated argument. The other one they use is that their servers are overwhelmed by the enormous number of orders - a rep. form one of these brokers (can't remember which..) cited this recently on TSD, also stating that traders' MT clients were able to load their servers with "questions" (requesting price info etc.) - he obviously was responding from a prepared script, formulated for the not-too-technical, 'cos when I pointed out how and why this was technically impossible with Metatrader, I was greeted with silence...
btw, I'm intrigued by your suggestion that brokers love ace-traders. From all the evidence I have read, the exact opposite is true. There have been a few posters her on TSD that apparently fit this category, and have given a list of the brokers that they were sequencially banned by for being too profitable. Of course, it would be easy to believe that about brokers that make their living from just the commissions (that are not taking the other side of your trade) but this rules out about 95% of MT brokers...