Selecting a Forex Broker in Dubai

Selecting a reliable Forex broker in Dubai for your Forex trading needs is essential to your success. There are many to choose from, and through Internet based research you will find one that you are comfortable with. You definitely want a Dubai Forex Broker who can keep up with your trading, consistently serving your needs as needed, and on time. Time is one of the most vital factors of Forex trading. When searching for the right company to service your needs, you will find that generally speaking, the same services are offered by many. Your research should start with giving careful attention to and examining the details of different offers given by different brokers, along with the best deals involved. As you go along, create a checklist of what you need covered. Find out who the reputable Forex brokers in Dubai are. It is very easy to wind up with a broker who has not yet established a reputation, or perhaps has less than stellar feedback from traders. Be patient and take the time to find out what traders think of certain brokers, before choosing one. Ending up with the wrong broker is a factor that can, and more than likely will, cause you as a trader to lose money. Once you’ve found your broker, you will most likely also find that they offer what is referred to as a “Demo platform”. Demo trading platform is a tool that is used to practice trading Forex with. Using this tool, you can trade as if you were trading with real money. The difference of course is that you are not using any real money at all, but instead you are trading using representations of currency with no backing. It is recommended that you practice as much as possible using this tool, ...

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Learning from your Forex trading Mistakes

After a terrible losing trade, perhaps the last thing you’d want to do is to revisit and scrutinize that loss. Here’s why looking at your worst trades can be good for you. In life we usually develop repetitive behavior: we wash our faces when we wake up (at least I hope you do!), we eat lunch around noon, we wash our hands after meals, and go to sleep at a specific time. You see, we develop daily routines that help us get through the day. And as creatures of habit, we also go through patterns in trading. Over time, we form a routine in the way we process and react to information thrown at us. For example, some people lie to their partners on impulse even if they did nothing wrong just to avoid a lengthy conversation. Heck, even a kid would fib a little just to avoid a scolding. They aren’t really liars by nature, but they have already conditioned themselves to respond a certain way given a specific situation. How does this apply to trading? I know this might make you cringe but try looking at the worst trade you’ve ever had in your trade journal. Review the trade setup that you saw, think about what went wrong, and ask yourself, “Why the heck did I ever take that trade in the first place? What was I thinking?!?” More importantly, “Was I even thinking?!?” You probably just took that trade automatically based on a familiar setup. In this case, your decision was a result of your own way of thinking rather than what the market was telling you. Your worst trade isn’t necessarily the one where you’ve incurred your largest loss. It can be in the form of a missed opportunity, when you hesitated to take what could’ve ...

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Selecting Forex broker in Dubai – 3 rules

best forex brokers in Dubai

Dubai is booming again after 2008 recession and people are investing money to get maximum gain. There is dramatic increase in number of Forex traders in Dubai. This trend have already got attention of several Forex broker in Dubai, but hold on. You need to properly check and investigate, if your Forex broker is regulated , authenticated and reliable. One of the most challenging tasks when it comes to Forex trading is choosing a Best Forex broker in Dubai to deal with. This process can be really daunting and confusing especially for a beginner. If you are someone who is just getting started then here are a number of things you should know when choosing your broker: Regulated or Mere Licensed? While a Forex broker’s license might remove your apprehension and provide you a certain degree of security, you still have little to no protection compared to dealing with a broker that is registered with a regulatory body. A licensing body does not conduct the same directorial functions of a regulator nor does it have the same enforcement powers. A regulatory board on the other hand can intervene and take action in a broker-trader dispute. Regulatory bodies set rules which Forex brokers should strictly adhere to. These bodies protect Forex traders from unethical practices by brokers. It is highly advisable that you deal with a Dubai Forex broker that is not only licensed but registered as well. This can usually be found out through the broker’s website. If this information is not included, then you may need to ask for it by contacting the broker or better yet, look for another candidate. Price Slippage Slippage is a common occurrence when trading currencies especially if the markets are highly volatile. This happens when you place a trade but your broker is ...

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Dubai Forex Market hours

Forex brokers in Dubai have advantage to trade 24 hours as all big 4 Forex Markets (New York -London -Tokyo -Sydney) are open as per Dubai time.Forex Market hours are the one, when Forex Market is open for Forex Trading. Here is a tool, you can find about Dubai Forex Market hours . Please put the time zone according to Dubai forex market hours. Mainly there are four main forex markets which are located in -New York -London -Tokyo -Sydney   New York Market 4PM to 12AM Dubai time London Market 11AM to 7PM Dubai time Tokyo Market 3AM to 11AM Dubai Time Sydney Market 1AM to 9AM Dubai Time

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Basics of Forex trading

What is Forex? The Foreign exchange market, better known as forex is the world’s largest financial market with a daily turnover of $4 trillion. Currencies are bought and sold in the forex market and are traded in pairs. The most popular forex trading centers are located in Tokyo, London, New York and Hong Kong. The branch in London claims over 40% of the total global currency traded. Majority of the trading are carried out in New York, London, Australia, Singapore, Tokyo and Canada.

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