Forex Trading #1: Retail Market Makers ... Beware

http://www.ForexCoachingPros.com
On this free forex video, Stephen Story, a world-renowned forex mentor, gives tips and advice regarding what kind of broker the beginning Forex trader should employ. Your forex strategy and forex trading system is totally effected by the kind and type of broker you employ. Part of being a forex strategist is knowing who you are trading against on the other side.

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[lycrest15]

thanks...

[ForexCoachingPros]

You are welcome.

[asysqa]

you have to go to an ECN broker... I use MB Trading....in El Segundo California...their platform is difficult...but spread and executions are good...good luck...

[ForexCoachingPros]

@AaronAllen2

Market Makers take risk offerring trades from their own funds, not the true market. They can't allow real winners. MT4's virtual plug-in stacks the deck in favor of brokers that control the trade platform, variable spread rate, data feed, and stop-hunting capability in a huge conflict of interest. These deceptive counter-traders manipulate even the timing of trade entries and closures. True ECN STP brokers are the solution. I use Lucrorfxdotcom out of New Zealand.

[ForexCoachingPros]

@best333WillC

I use lucrorfxcotcom out of New Zealand who is a true ECN broker that takes very good care of my clients and students. They are also not so terribly regulated to the disadvantage of traders like the US brokers are now.

[AaronAllen2]

This guy Georgewarrior is on to something... The guy posting this lost money so he is now blaming brokers. PEOPLE.. think about it... If my broker and my friend's broker ALSO decide to position themselves against me.. So What?? They still only make up a tiny bit of the liquidity in the market. What this guy is saying makes no sense.. Does anyone else see that??

[SuperAlexrios]

God bless you

[zheuhang]

yes, very true

[ForexCoachingPros]

When the Retail Market Maker trades in the counter trade position, he takes risk. If you win too often and are profitable, he loses the money that you are winning, at the higher leverage that he offered to you (100:1, 200;1, 400:1, 500:1, etc.). You can see how they could lose a great deal of money to a good trader, unless they did something to prevent that trader from winning. Some of these brokers go to great lengths to sabotage your trades, in the name of poor liquidity.

[forexstea]

I like the video i will rate it very good.Thank you for the tips you shared.

[Georgewarrior]

@ForexCoachingPros @ForexCoachingPros , Hi, could you explain a little more specifically what you mean by the broker taking an opposite position to the trader. From the video it sounds like he's deliberately conspiring to sell when I buy and vice-versa, which doesn't make sense. So, why would they do this and how exactly do they make money like that?

[Georgewarrior]

@ForexCoachingPros , Hi, could you explain a little more specifically what you mean by the broker taking an opposite position to the trader. From the video it sounds like he's deliberately conspiring to sell when I buy and vice-versa, which doesn't make sense. So, why would they do this and how exactly do they make money like that?