Below picture is my personal trade in one of the afternoon. Make USD 49.20 (Account Size : USD1000) within 1 hour using scalping method. This method only available in Advance Course.
I hope position trader can move to scalping trading method because scalping do not carry overnight trade and the risk is very low. So you can sleep at night peacefully.
Since 2015 to 2017, many cases of Forex Scam or Money game company use Forex to draw victim into they scheme and they will fly away within few month to few year with more than USD100 milllion on average.
Below is the Characteristics of Proper Forex Company and Scam Company characteristics
Characteristics like:
1. Register in UK, US, Singapore, Australia or Europe. 95% of other country register can be scam.
2. Can find out that company from 100 forex broker list from google. if not, 95% of them is scam
4. There is a Human Customer Service that can call you from that country. Some scam broker just have online chat.
5. Proper Broker address is pure address, not a P.O.Box address or Sharing office Address.
6. Can check the website lay-out, some very simple website only. 99% of simple website is a scam.
7. Customer can open live account online and must provide Passport. bank Statement and Others document. Scam company just need your email address.
8. Proper broker will only email the password to you via email, never never by mobile phone or going through agent.
9. There is 2 password, Web login password and MT4 password.
10. Customer only can deposit into their account using credit card, debit card or Neteller. No agent allow to collect on behalf and have some collection commission to “collection agent”.
11. The final money will go into MT4 account directly, not going to “pool” account like some scam broker.
12. There is not guarantee of return in proper broker, else scam with Monthly Fixed return or minimum return
13. Proper broker will only give you return by proper trading profit, while scam broker never let you see individual trade in MT4
14. Proper broker spend a lot of money on Professional teachingand coaching, while scam broker just ask you put money and wait.
15. If the customer not attending any forex class and no idea how to operate MT4, then the company likely is a scam company.
16. Some Forex broker is like gamble owner, You sell and they will take your order and you sell, you will take your order as well. They never route the order to Liquidity Provider (LP).
17. The withdrawal of money will only going back to initial way of deposit, it cannot go through an agent or indirect payment or 3rd party payment.
18. All Forex Trader must have go through a professional training course and with 6 month mentoring, without it, most likely it is scam or gambling way of trading. That is extremely high risk and will burn all account in very short period. They normally trading using 4 screens method or 6 screens method.
19. Professional Trader use a lot of Scalping Technique rather than position trade. position trade carry high risk like overnight risk, major news risk and major black swan event.
