Careful with Brokers (like Concord Bay?)

Some of the less trustworthy Forex brokers may try to pitch you risky Forex products and frankly suspicious offers while you are testing their demo trading platform. It may take you anywhere from a week to a month to go through some of the more common demo testing techniques, as you learn the science of online trading. Use this time wisely to conduct an objective assessment of your broker.

Spam Cat wondered why a new member kept copying and pasting material from items written by Concord Bay. Interrogation revealed that this person was paid on Fiverr to post these in forex forums.

 
In any given day, Forex market on any trading instrument may live through the entire market cycle you otherwise see forming for years in stock markets. In any given day a Forex news event or a currency intervention by a Central bank may change the course of the market for days or months to come. I have enough experience to be risk-averse and don't wait for an unexpected turning point. Before the end of any given trading session, I close my open positions and enjoy a good night sleep. Foreign currency trading is short-term by the token of its high volatility, unpredictability and the diverse nature of factors that influence Forex market movements.
 
There are thousands of Forex trading strategies that are profitable, but every single one of them that really works is based on one rule only: you can make money by buying in an uptrend, and selling in a downtrend. There is no need to complicate things once you understand the simplicity of an effective Forex trading system. Top Forex brokers will not care whether you trade on-trend or against it, since they don't bet against you, but you should. I trade 5-minute charts on the best Forex trading platform available today to a retail trader, and out of the enormous diversity of indicators, I only use simple moving averages. I use charting to spot ongoing trend and assess its strength. It gets easier on the eye with experience. I let the trend settle and pick up steam, and then enter a trade on a pullback. I get out when I feel that the trend is quieting down, and don't worry about not making that high. Stability is more important to me.
 
Forex market makers essentially take the other side of your trade, every time you click Buy or Sell. For instance, if a Forex client buys one lot of EUR/USD at 1.12 and the client’s broker is market maker, they sell one lot of EUR/USD back to you at 1.12. In other words, market maker bets against the client. In a zero-sum game on global currency markets, only one side of the trade wins, and market maker is no different than a massive Forex casino that is so big, it can wait indefinitely until clients lose all money, Forex accounts drain all funds, and market making broker walks away with the profit.

Forex market makers will deploy a dealing desk that manages their exposure to profitable clients, using automated and manual methods to monitor all Forex trades that flow through their systems. Should a client start making money, and we are not talking here about a single lucky trade, but a consistent pattern of winning, such Forex broker may deploy extremely efficient tools that will intervene in trading execution processes, turning the bets in broker's favor.
 
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