10 Things You Should Beware of During Currency Trading:

[davidjss]

1. Watch out of those who guarantee large profits.
2. Stay away from those who promise no financial free
3. Beware of those everything sounds very easy.
4. Don't trade on Margin unless you have been trained
5. Please take cautious to online/phony transferring cash in online trading
6. Make sure its really interbank market
7. Job offer as Account Executive might lead you to use your money for currency trading
8. Need to ensure the company background
9. Avoid those company who won't let you know their background
10. Don't fully trust any agency or broker, put some effort to understand currency trading by yourself.

 

[kalpeshmkm]

Thank you for providing such very good and common things which can help us and most for beginners who having no bad experience about Forex trading and want to become a successful trader.

 

[freddymyers]

Thanks for the nice post and a really great advice to consider specially for the beginners.

 

[rexway]

That is true its great for the beginner since it can help them to avoid mistake when trading in this market so all I have to do now is just to keep on trading since I was not aware of this tips but now that I have know I think i will advice any newbie I come acroos to read and abide .

 

[martyn]

that is true, we must guard against the various modes of deception that often occur in the forex trading. Mode is usually used is a variety of facilities and or bonuses offered by our facility or the bonus does not make sense.

 

[Markllee30]

You have mention very nice points to remember while doing trade in forex.

 

[riddick09]

I don't know what they are talking about the deception or it's the market unstable conditions that makes it difficult to predict. Yet, that's the market and also that they have sudden movements of pips which we can't control or know easily when it will actually happen.

 

[indieover]

I would agree that we should not give all of our trust on any broker regardless how good they are. So don't put all your money in just one broker or just withdraw your profit always. We font know until when a broker would be honest

 

[FxGuy]

I've came across a lot of traders selling "great expert advisors" that guarantee 100$ monthly profits etc, it's just not real. And then they will send you a proof and the EA is running on a demo account lol. If the EA would really work they would run int on a 100k account

 

[Decub]

[MENTION=51277]FxGuy[/MENTION], one thing we must understand is that robotics are robotics and there is no way they can be 100% efficient. In my view, whomever that is not knowledgeable enough and chose to adopt EA is just taking a high risk because it is like a zombie, leading a zombie as well.

 

[naninov]

yes we need to ensure company background before start trading on such broker, i experienced get scammed by broker, the broker just dissapear but after few months that broker start making new brokerage service again under different name

 

[Decub]

One of the ways I choose as effective in choosing a broker is to run a review about any intended broker on line. That way you can always find their flaws and mistakes and those that are good as you can see people who are capable of writing extensively about a company's performance.

 

[barood4money]

Thank You for this post. I agree all the things which you said. We should not depend totally on others. Self knowledge is very important for trading. This will help you to prevent frauds.

 

[Daisy]

There are plenty of fraud and scams like hyips that don't pay so I won't be involved with those. I'm also very wary of Pamm so I like to trade for myself and I don't trust anyone caring about my money and also I've read of many scams that involved managed funds so I don't trust it. I don't think other traders should use pamm either as I heard of many losing money and scams. I agree that this article is very good and we should all watch out for scams online.

 

[Bonyi]

This is good information and should be adhered to by traders. Many traders have been scammed because they were not properly guided. This info is very timely.

 

[Daisy]

yes we need to ensure company background before start trading on such broker, i experienced get scammed by broker, the broker just dissapear but after few months that broker start making new brokerage service again under different name

There are scams potential out there. We must watch out for that. This is why I will only trade with the most popular brokers since the mass are right most of the time. If ten k people use it for ten years then the broker must be doing it all right. I think if there are no traders, new brokers have a risk of being a scammy ones. I do not use anything new or like a broker where my money is involved. I do a research of them before I use them. Read for scams articles on Google, believe me you will find it if they do scams users.

 

[Decub]

Quite some good outline there. Really concerned a lot about the company background. It is that which will determine how safe your account is. There are quite some brokers who do some skeptical looking things behind the scene.

 

[willy]

wow this is great advice from you to the new trader and for the professional also because some times the professional forget something like this because of their high confidence with their experience so we must take these advice with high serious while we are trading

 

[Lee Mark]

Nice 10 tips there! By the way, I seem traders should rely on their trading ability and knowledge! Depending on others is not a permanent solution! Yes, in the beginning traders need educational support, but before live trading they should ensure their trading skill first.

 

[winchent13]

These are really good recommendations for newbies. But they are usually very stubborn and won't listen to other people until they've lost their deposit.