Craig Harris is a former construction worker who learned forex trading on his own and made it big. This is what Craig says about his experience: 8 Years Ago when I was starting out I wish I would have had someone to guide me through the real basics of trading the Forex. For instance it took me a while to understand that brokerages offer all kinds of free training signals and alerts because they want you to trade through their firms. But what they don’t tell you is that they take the other side of every trade (THEY TRADE AGAINST YOU).
In other words if you win they loose, so it’s in their best interest for you to loose so they can win. That means you will experience re-quotes, dealing station delays and even no response to your trade entries. All of which eventually loose you money.
http://www.ninjatraderblog.com/
Fortunately there are some options for the trader. Many Brokerages and Banks have stopped this practice and are honest with your entries and exits. You need to shop around and find those Brokerages and Banks.
http://www.ninjatraderblog.com/
Another way to ensure good fills is to use what is known as an Introducing Broker (IB’s). These are independent businesses that represent several traders at the same time. By doing this they provide clout with the Brokers and Banks, because while the brokerage or bank might disregard you as an individual they won’t disregard hundreds of traders (there is safety in numbers). Generally these IB’s have found the best Brokerages and Banks to deal with and that saves you a lot of headache trying to find; then test them out for yourself. You are represented and it does not cost you anything because the Brokerages and Banks like to deal in bigger numbers and not in onesy twosey’s. The Brokerages and Banks pay the IB’s to bring business to them so you don’t have to. Read more what Craig Harris says here:
http://www.ninjatraderblog.com/
