Is trailing or limit stops a reliable way to trim down the losses in case my trade’s going downhill? Been reading about it, so just wanted to confirm. Not a big fan of sl generally
True it is. Limit stops lower the potential losses in case your trade fails while you continue to learn all about the currency pairs and how to trade them. The brokers you use can guide you on how to put it into practice. My brokers fxview and oanda for example guided me throughout when I started trading.
Do you know about the emotional angle in trading? These limit stops hit it right there by helping you pull back from the trading desk much before you cry your eyes out post losing money.
Right approach there but just when you decide to use high leverage, simply use trailing stops, keeping the positions small, and limiting the amount of money for each position. It’s really not that difficult. All one needs is a good platform and of course a broker and I say this because our (fxview and XM) are same
Yes, better to stay far away from those emotions, I say.
don’t think I can reflect on getting a broker that has everything at one place. And you want to use such a high leverage, you should consider trading with multiple platforms.
Hi. I am also looking for a broker that has at least faster withdrawals. I’ve been stuck with some brokers that take almost a week to process them. Any suggestions would be great, thanks.
I am not so much of a high leverage user so I’d probably keep it as low as required. But thanks for responding.
Fxview would be a good choice for you then, withdrawals are always on time (within 24 hours) and leverage offered is 30X.
Withdrawals are a big thing for any trader so it makes sense why they should fuss about it.
Yeah. I think the same and actually haven’t seen any trader that goes with just one broker. Even I don’t use just one for my trades. There has to be some room for diversity, right?
Yes, no one wants to be stuck with a broker that takes a lifetime to process withdrawals. The reason we are in it is to make money and if seeing that takes time, what the heck, that’d be annoying!
@Daniel broker-hopping is such a thing these days. We are just spoilt for choice with sooo many options around. Anyway, what platforms do you use?
Not as many as you must be thinking but right now I’m trying to understand and trade with ICM and Fxview. I have used some more in the past, so you can perhaps put me in the league of a hopper, be it a pub or a broker 
damn this conversation is making me thirsty lmao cheers bud
50:1 seems pretty high to me but if that’s something you want to go with, it’s completely your business. I read somewhere that you can check the withdrawals of a broker by opening a small account with them and make a trade for trial and then see if the deposits or withdrawals are fast enough for you. Idk could work.
I get it how withdrawals can be an issue but more than that, isn’t the strategy and other informational stuff matters more in trading?
Of course, the skills and knowledge do come handy and are a must but this is more about how a broker is extending its service than what a trader knows.
I am glad that you are looking for a broker on the right grounds. But to make the right choice, you will have to put in all the effort. It might also include trading with different brokers and losing some bucks to realize whether you have made the right decision or not.
While you are looking for a broker on the basis of its deposits, withdrawals, executions, and leverage, make sure that you also look for the quality of customer service they offer. From opening new accounts to choosing the right software to trade, you get immense help from customer support.