The worlds largest computer chipmaker Intel has received a fine from the European Commission over a record 1.06bn euros for its anti-competitive practice having been found in abuse of competition laws between the years 2002 and 2007. Intel have production factories throughout the world and may now be under scrutiny by other countries who may also see their behaviour as anti-competitive. Intel will appeal the verdict which was welcomed by an microprocessor competitor AMD who first lodged complaints against Intel in 2000, 2003 and 2006. Forex investors who follow world markets, export and computer goods which cross trade throughout the world will watch this story closely as it also affects major personal computer makers such as Acer, Dell, HP, Lenovo and NEC. It marks a strong challenge by the European Commission against a global player whose dominance of the market has been unchallenged and unquestioned up until this point.
Thursday, March 24, 2011
Forex Brokers
A broker is an individual or a business firm that plays the part of an intermediary, bringing together buyers and sellers for business transactions to take place. This service is for a fee.
There are quite a number of Forex trading brokers, but not all of them are competent. As a trader, it is vital to be able to identify and make use of effective brokers. It is one thing to be a good trader; it is another thing for your funds to be continuously profitable and managed by a good broker, thus, the success of your Forex trading efforts is hinged on using the appropriate broker.
We all know that the more experienced the broker is, the higher chances of success you will see with your leveraged money. An experienced broker is one who has dealt with a large number of individuals and can foresee opportunities that other people miss.
If you decide to embark on the quest yourself, or you do not find an experienced trader to talk to, below are some tips to go about it.
A good broker will consider interest of small amount traders and will allow you to give input – this can be subjective and all depends on the individual. Some offer trading accounts for as low as $200 dollars which is good; however caution should be exercised against scams.
The ability to be informative is the hallmark of a good broker. Look for brokers who are highly educated, individuals who should be able to educate you little by little and better familiarize you about foreign exchange trading. They should be very resourceful and be ready to help you with useful and vital information when you are ask for it.
Take good note of the effectiveness and the user friendly ability of different platforms. A good broker’s platform is reliable, easy to understand and easy to use. When choosing a broker, you should go for those whose platforms have proven to be effective systems. Good brokers are those who have and maintain good platforms.
Good brokers will often guarantee protection against loss to a very good extent, they offer leverages which is insurance against loss. Leverages are the main reason why investors are enticed into Forex trading. A good broker will help to maximize profits. If he can guarantee a leverage of about 200:1 or 400:1, such are rare finds and should be made use of.
Try and do some investigative work on the spreads offered by the broker. A good broker would take about 4 to 5 pips as spread. Spreads are percentages taken by the broker whenever you place a trade. This should by dynamic and trader friendly to facilitate trading, especially when it is frequent.
Make good use of brokers that offer secured online transactions. This helps to ensure that your Forex account will enable online payments without stress.
A good Forex Broker might also offer you a risk-free easy to monitor – free account that will allow you to play around with a small amount of money to make sure you understand how the platform works.There are quite a number of Forex trading brokers, but not all of them are competent. As a trader, it is vital to be able to identify and make use of effective brokers. It is one thing to be a good trader; it is another thing for your funds to be continuously profitable and managed by a good broker, thus, the success of your Forex trading efforts is hinged on using the appropriate broker.
We all know that the more experienced the broker is, the higher chances of success you will see with your leveraged money. An experienced broker is one who has dealt with a large number of individuals and can foresee opportunities that other people miss.
If you decide to embark on the quest yourself, or you do not find an experienced trader to talk to, below are some tips to go about it.
A good broker will consider interest of small amount traders and will allow you to give input – this can be subjective and all depends on the individual. Some offer trading accounts for as low as $200 dollars which is good; however caution should be exercised against scams.
The ability to be informative is the hallmark of a good broker. Look for brokers who are highly educated, individuals who should be able to educate you little by little and better familiarize you about foreign exchange trading. They should be very resourceful and be ready to help you with useful and vital information when you are ask for it.
Take good note of the effectiveness and the user friendly ability of different platforms. A good broker’s platform is reliable, easy to understand and easy to use. When choosing a broker, you should go for those whose platforms have proven to be effective systems. Good brokers are those who have and maintain good platforms.
Good brokers will often guarantee protection against loss to a very good extent, they offer leverages which is insurance against loss. Leverages are the main reason why investors are enticed into Forex trading. A good broker will help to maximize profits. If he can guarantee a leverage of about 200:1 or 400:1, such are rare finds and should be made use of.
Try and do some investigative work on the spreads offered by the broker. A good broker would take about 4 to 5 pips as spread. Spreads are percentages taken by the broker whenever you place a trade. This should by dynamic and trader friendly to facilitate trading, especially when it is frequent.
Make good use of brokers that offer secured online transactions. This helps to ensure that your Forex account will enable online payments without stress.
Do you have what it takes to become a successful Forex Trader?
Forex trading, or any trading for that matter, is an occupation that requires experience and the accumulation of proficiency not unlike any other highly skilled profession. Whether you are a leading executive at a major publically traded company, a professional golfer or trading from your kitchen table, there are 5 key ingredients that one must possess in order to become successful.
1. You must be Passionate about what you do.
As Forex traders we all face one unique set of circumstances that does not exist in any other profession. We get rewarded for when we succeed and equally punished when we don’t! Could you image a corporate worker one quarter receiving a significant accomplishment bonus and the next quarter actually getting money taken from their paycheck for missing performance targets? Not on your life!
We do as Forex traders and that is why passion for what you do will carry you through the tough times that are part of your trading business. Asked yourself why you trade currencies and would you still do it if Forex were not potentially lucrative? Your answers will be quite revealing. You’ve got to feel your passion for trading!
2. You have to Apply Yourself and work hard at it.
I talk to so many people that enter into Forex trading with the aspiration of getting rich quick. Without putting the time and energy into really getting good at trading I see them jump from strategy to strategy looking for the goose that will lay the golden egg and eventually quitting while blaming everything else, except the true cause.
I got news for you – you are the goose and your Forex education is the golden egg. The magic has always resided with the magician and not some strategy. Work hard at trading and the rewards will eventually come your way. Remember what Tiger Woods said, “Funny, the harder I work the luckier I get.” Apply yourself as a trader and it will be no accident when your account begins to blossom.
3. You must Focus to really get good at what you do.
Now here is the hurdle most Forex traders struggle to get over. You have the passion and you are applying yourself to your trade, now focus and really get good at just at what you are doing. Be the expert to the experts at just that one thing. Become the master of a strategy or risk management methodologies. Really focus on getting good at it.
Stop jumping around or getting pulled from the last “latest and greatest” into the next “latest and greatest” and focus on one aspect of Forex trading and know it inside out. Know it strengths and weakness. Set your sights on becoming expert on just one aspect of trading and watch it spill over in all other aspects for your currency trading. This is the time to fail forward fast, use every setback as a learning opportunity that will propel you 3-steps ahead!
4. You must Push Yourself beyond the point everyone else might have quite.
In Forex Trading this is simple. Assume there is someone on the other side of your trade that is pushing themselves and sharpening their edge. To be successful you must you must do the same thing. Now is the time to examine your mental edge. Do you know the single most critical factor in any currency trade? It is you, the trader! Sharpening you mental edge is the most difficult aspect of trading, but also the most rewarding.
Start with your Forex education and gain the self-awareness necessary to maximize your strengths and suppress your weaknesses. Any expert will tell you that trading is 80% mental. It’s time to sharpen your trading to the razor’s edge and you do this through Forex education. A constant and never ending process that will become the cornerstone of your Forex experience.
5. You must, without wavering, be Determined and Persist to your objective.
You will fail. I can state that emphatically. However, you will not be defeated unless you allow your failures to control your trading. It is the old adage; failure is not falling of your horse, failure is refusing to get back on. Your success depends on your ability to dismiss the criticism, rejection, self-doubt and pressures associated with Forex trading.
Defining what is a winning trade, losing trade and bad trade will go a long way into developing you as a successful trader. Without the determination and persistence in all aspects of your trading life, obstacle will definitely appear closer and larger than they actually are.
Take a moment and assess yourself and your trading. Do you have the key elements to succeed? Which areas are presents development opportunities? When conducting a self-evaluation it is critical to be totally upfront and honest with yourself. After all, you will only be dishonest with yourself. One of the most interesting observations you can make is that all key success factors are interwoven. One factor supports the other. This is why your Forex education is a continuous journey of forex strategy, money management and self-mastery. Set these factors as your Forex education goals and take your currency trading to new heights.
Happy Trading!!
1. You must be Passionate about what you do.
As Forex traders we all face one unique set of circumstances that does not exist in any other profession. We get rewarded for when we succeed and equally punished when we don’t! Could you image a corporate worker one quarter receiving a significant accomplishment bonus and the next quarter actually getting money taken from their paycheck for missing performance targets? Not on your life!
We do as Forex traders and that is why passion for what you do will carry you through the tough times that are part of your trading business. Asked yourself why you trade currencies and would you still do it if Forex were not potentially lucrative? Your answers will be quite revealing. You’ve got to feel your passion for trading!
2. You have to Apply Yourself and work hard at it.
I talk to so many people that enter into Forex trading with the aspiration of getting rich quick. Without putting the time and energy into really getting good at trading I see them jump from strategy to strategy looking for the goose that will lay the golden egg and eventually quitting while blaming everything else, except the true cause.
I got news for you – you are the goose and your Forex education is the golden egg. The magic has always resided with the magician and not some strategy. Work hard at trading and the rewards will eventually come your way. Remember what Tiger Woods said, “Funny, the harder I work the luckier I get.” Apply yourself as a trader and it will be no accident when your account begins to blossom.
3. You must Focus to really get good at what you do.
Now here is the hurdle most Forex traders struggle to get over. You have the passion and you are applying yourself to your trade, now focus and really get good at just at what you are doing. Be the expert to the experts at just that one thing. Become the master of a strategy or risk management methodologies. Really focus on getting good at it.
Stop jumping around or getting pulled from the last “latest and greatest” into the next “latest and greatest” and focus on one aspect of Forex trading and know it inside out. Know it strengths and weakness. Set your sights on becoming expert on just one aspect of trading and watch it spill over in all other aspects for your currency trading. This is the time to fail forward fast, use every setback as a learning opportunity that will propel you 3-steps ahead!
4. You must Push Yourself beyond the point everyone else might have quite.
In Forex Trading this is simple. Assume there is someone on the other side of your trade that is pushing themselves and sharpening their edge. To be successful you must you must do the same thing. Now is the time to examine your mental edge. Do you know the single most critical factor in any currency trade? It is you, the trader! Sharpening you mental edge is the most difficult aspect of trading, but also the most rewarding.
Start with your Forex education and gain the self-awareness necessary to maximize your strengths and suppress your weaknesses. Any expert will tell you that trading is 80% mental. It’s time to sharpen your trading to the razor’s edge and you do this through Forex education. A constant and never ending process that will become the cornerstone of your Forex experience.
5. You must, without wavering, be Determined and Persist to your objective.
You will fail. I can state that emphatically. However, you will not be defeated unless you allow your failures to control your trading. It is the old adage; failure is not falling of your horse, failure is refusing to get back on. Your success depends on your ability to dismiss the criticism, rejection, self-doubt and pressures associated with Forex trading.
Defining what is a winning trade, losing trade and bad trade will go a long way into developing you as a successful trader. Without the determination and persistence in all aspects of your trading life, obstacle will definitely appear closer and larger than they actually are.
Take a moment and assess yourself and your trading. Do you have the key elements to succeed? Which areas are presents development opportunities? When conducting a self-evaluation it is critical to be totally upfront and honest with yourself. After all, you will only be dishonest with yourself. One of the most interesting observations you can make is that all key success factors are interwoven. One factor supports the other. This is why your Forex education is a continuous journey of forex strategy, money management and self-mastery. Set these factors as your Forex education goals and take your currency trading to new heights.
Happy Trading!!
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