When we were learning trading, and risk management they would say…
- Money management (never risk more than 2%)
- Keep calm, and follow the system (nowadays we can cut off this part by using robots)
- Let profits run, never fixed it (trailing stop)
- Diversity, never keep all eggs in one basket
But nowadays, in trading the first thing to do is trade with only honest broker which they want to see your account grow for bigger commissions, otherwise the market-making brokers will steal your money legally through huge-slippages, stop-hunting, etc. Even FAKE-ECN brokers can collab with fake liquidity providers to share profits they stole from people, and called themselves TRUE ECN. The problem is which broker is honest? so they’ll deserve to get massive commissions in long term.
Anyone got profits transferred to your bank constantly in long-term, and want to share your broker’s name? It would be helpful to many traders who’s looking for honest broker. Even just a name of broker is more than enough.
I’m sure many traders would appreciate your posts.
There are some websites to do research on how honest your broker is but there’re some paid reviews on them, which you’ll also have to use common sense to be aware of them.
- WikiFX APP！- Global Broker Regulatory Inquiry
I’d recommend to check both websites in details, read all comments about your broker, before trading live. It’s your money, hand it to the one who deserved.