In this week's video, I've got a question by Prasad, who asked me:
Hey Rayner, How do I go about selecting a broker?
Here's what I said...
When you are selecting a broker, there are 4 primary things to look out for:
1. Your broker is regulated - This is to ensure that your broker is abiding the rules set out by the authorities. It also gives you a piece of mind knowing that there's a 'watchdog' looking out for you.
2. Your funds are segregated away - This is to ensure that your funds are safe and not accessible by your broker to fund their business activities.
3. Ease of withdrawal - You want to be able to withdraw your money easily within days. If your broker takes weeks or even months to get your money back to you, something is wrong.
3. Product selection - If you're trading Forex, you want to make sure your broker offers the currencies that you trade frequently. It could be exotic ones like USD/CNY, USD/CZR etc.
And back to the markets, this week I'm looking at USD/MXN, USD/ZAR, AUD/USD and Silver.
Thanks and good trading!
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mxn in usd 在 Rayner Teo Youtube 的最佳貼文
I've got a question by Stanley who asked me, is it possible to win 25 trades in a row?
And my answer is this..
Yes it's possible to win 25 trades in a row. All you need is to have a really small take profit target, relatively to the size of your stop loss.
You can have a 2 pips take profit target, with a 100 pips stop loss. You will easily win 25 trades in a row.
Alternatively, you can have a 100 pips take profit target, with a 5000 pips stop loss, your winning rate will still be ridiculously high.
But the question is, can you be consistently profitable?
This is when you need to know what is your average risk to reward ratio, before knowing whether you have a positive expectancy in your trading system.
Back to the markets...
This week I'll be looking at at a few pairs like USD/MXN, EUR/USD and NZD/JPY.
I also share with you the difference between a swing trading and trend following.
Thanks for watching!
FOLLOW ME AT:
Facebook: https://www.facebook.com/groups/forextradingwithrayner
Twitter: http://www.twitter.com/rayner_teo
My YouTube channel: https://www.youtube.com/tradingwithrayner
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