When it comes to learning forex, people might focus on the quantity of the trades instead of the quality. Both are indeed important, but some are likely to oversee the quality part of the ones they trade. A balance between both is even better, as they both are giving you more opportunity to generate those cash. To understand this, here are some key indicator that you can see when trying to decide the quality of your trades.
Executing trades the right way
Not only that you need to have a good strategy, the moment you order and make your transactions is important as well. Having the right and reliable broker like Didimax is the key to this part of trading activities. When you are making a purchase in the stock market, each delay that happens during that time, even for less than a second, matters.
When you have that kind of delay, you might meet a slippage. A slippage happens when there is a price fluctuation while you are making the transaction. After your order has been executed and is delivered to your broker’s system, and then it is processed. But, when there is a price fluctuation and your broker is slow, the price might have changed first.
When the price changes during the delivery delay between you and the broker, then slippage happens. This is why delay cannot be acceptable because even less than a second will higher your risk in the market. So, if you just started learning forex, you have to know that the faster your order is executed, the less risk you are facing.
To see if your broker is good enough for this, check out their average execution time. If it exceeds one second then the broker is no good. We are talking about millisecond here, so be careful and do a lot of research on your broker. If you are trapped in this situation, then you might do something called requote.
Requote is when the broker asks you to cancel or delay the execution when realizing that the price has fluctuated. This is avoided by forex traders as even a slight change might ruin the potential profit amount that you are going to get. This is the reason why you want to avoid the brokers that like to delay and do requote, because it might interfere with your profit gain.
So, the solution to this problem is to find a good broker, or even one that could guarantee that they can offer trading experience without any requote. Didimax, for example, is a highly trusted broker with years of experience. They also have classes both online and offline, and your personal trading mentor if you wish. More knowledge is always a solution to everything.
How do you choose a good broker?
The fact is requoting might not be gone because it might happen because of the server. But, most of the time, this works. Finding a good broker for this is quite easy because they are proud of saying that they offer no requote, so it’s easier for you to seek for them. Also do a lot of research on this to find which brokers really do you best.
For example, you should know that you can rely on Didimax when you know they have been working in the trading industry for years. You can trust them as they are the best broker in Indonesia. They also offer you mentors that are going to teach you and you can learn forex from them. With this, you don’t really have to do much research anymore!