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Forex newbie question - brokers taking out stops

Discussion in 'Forex Forum' started by Sc11, Oct 2, 2018.

  1. Sc11

    Sc11 Guest

    i always read that brokers take out stops - do they also take out take profit levels too? should you hide your targets with virtual take profits as well?

    Source.
     
  2. Jenny Bane

    Jenny Bane Member

    Joined:
    Jan 26, 2020
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    Location:
    Bangladesh
    A broker is an important element in forex trading. Without broker a trader cannot trade in forex market. It is the main duty as a trader is to choose a good broker or him. There are a lot of fake or scam brokers in the market. So, it is really difficult to choose the best one from all of the brokers in forex market. I had faced same problem while i was choosing a broker for me to trade. At last I found [removed]. They are really great in all sectors. They give low spreads start from 0.01 pips. They also give maximum leverage of 1:500. They also provide 24X5 customer service to their account holder. They also have diverse tradable instrument. There are 56 pairs of FX in their site. So, overall it is the best broker for me. I am still trading with them.
     
  3. Diego San

    Diego San Member

    Joined:
    Dec 10, 2019
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    Location:
    US
    The volatility of the Forex market also affects a trader's sentiment. Emotions such as fear, greed, temptation, suspicion, and anxiety can motivate you to make a deal or slow your judgment. In any case, if your emotions interfere with your decision-making, it can adversely affect the outcome of your trade. My broker [removed, pay to advertise]'s education resources help me to overcome my emotion in forex trading.
     
  4. Punkcity

    Punkcity Well-Known Member

    Joined:
    Mar 31, 2020
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    Occupation:
    CEO, manager of sublease my account name.inc
    Location:
    Troll tag team one accounts head , Skipptophia.
    Most new traders get caught out by the cheap cost of trade aspect offered by the brokers too numerous to list here. Most brokers offering a cheap online trading platform are ACTUALLY THE MARKET MAKERS. If you dont know what that means stop trading now and go find out. One is better suited to trade with one or two of the big four worldwide brokers, do your research as the names will get deleted from this post so Im not going to waste my time listing them for you.

    As a practice aspect of learning HOW to trade, sure use one of the free demo accounts that are offered in any country on the planet. When you are ready to go live sign up and pay the brokerage fees that will enable you to trade without being stopped out by a market maker as now remember you are using your real money and the fees are tax deductions as a part of doing business. I would rather claim an expense ( cost of a trade ) than claim a loss on a trade that depletes my trading account funds.

    There is no virtual take out profits . You either have the profit realised as cash in your account or the trade is still running. Profit only is PROFIT if its realised. You are not serious are you in suggesting that you can hide a trade on a trading platform? Thats a bit like your friend gives you a key to enter their house and you can help yourself to whatever is in the refrigerator , you vomit on the second shelf and leave the building, oh look Im hiding my target projectile vomit, Im clever.

    No you are not, the key was a logon to the system key ---you have hidden nothing, unless of course you have hacked into the house or trading account. And if and that is a really big IF, if you are a hacker then your not very good at that either . You may be able to hack someones trading account but the hacked account still registers all aspects of the trade, ie someone spewed in my refrigerator -- its you , oh no its not me my account has been hacked, Ok now you prove your account has been hacked otherwise you owe us the clean up etc.
    So do some research before you go live money trade. Do some tutorials on how to trade, etc etc
     
  5. George45

    George45 Member

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    Location:
    Athens
    I think this is one very valid question, and it is important to know what levels are used by your broker because a large amount of traders fail to check this, and just rush into opening their accounts. I feel the best we can do is look for a broker that has reduced stop out levels if it is something you don't like because basically they do this in case of unfavorable changes of currency exchange rate on the market, the trading account can hold a comparatively large draw-down without forced closure of positions.
    I just saw on the site of my broker [removed, pay to advertise] that the uniform Stop Out level has been reduced to 30%, which I consider as a very good move.
     

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