Thursday, January 17, 2008

Best Forex Brokers - A Perfect Way For Novice Traders to Learn

If you are looking at the best forex brokers the best way to learn is NOT a demo account. Sure a demo account shows you the mechanics of how to trade - but it doesn t give you the real feeling of dealing with money. I came across this service that solves the problem. It s called a protected account and is designed for those traders who want to trade with a small amount and get the feel of trading. These accounts offer unlimited trading in a set period and the difference with these accounts is: It doesn t matter if you go debit you still trade. It is only at the end of the set period (normally a few weeks) that the profit or loss is calculated so the client gets any profits and the broker takes any losses. This is different to a guaranteed stop - because once that s hit and your trading capital is gone, you re out - with this account and you continue trading even if you re in debit. So for a small risk you get a real trading experience, get to do a lot of trades to test your skills and you know your risk in advance. You know it s only at the end of the period you stop trading. I like this idea and think it s a good one for novice s forex traders. I see countless traders who think that because they have won with a demo account and made money with their trading signals that they will win in the real world, with money on the line. Nothing could be further from the truth. When money is on the line emotions kick into play and it s a whole new ballgame. It s a bit like taking penalty kicks in your garden. They are all completed successfully with no problem but try and do it with 100,000 people watching you and the game depends on the kick being successful and it s a different matter! Some traders can handle the emotional side of trading and others cant - its as simple as that. You won t know if you can Handle your emotions until you try! These forex accounts look set to soar in popularity as they act as a bridge between a demo trading account and a full trading account and allow you to test your forex trading system in real conditions, risking real money albeit a small test amount. It s a fact that anyone can learn to trade forex and enjoy currency trading success but it s also a fact that 95% of traders lose. Most traders lose, not because they don t have good methods but because they cannot execute their methods with discipline, when money is on the line and this is the advantage of these accounts. There are a whole host of inputs that make a best forex broker but this service certainly gets my vote as one of the services that can really help novice traders and you should consider them as part of your overall forex education. MORE ON PROTECTED ACCOUNTS AND BEST BROKER SERVICES + FREE ESSENTIAL TRADING GUIDES For more on Protected Limited Risk Forex Accounts and some essential trading guides visit our website at:

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