Welcome to Part 2 of my interview with a Forex broker where he answers YOUR questions that you submitted through a poll I invited you to participate in last month.
In this part of the interview we get to the really TOUGH and CONTROVERSIAL STUFF!
If you missed Part 1, you can get it by clicking here.
The interview was recorded on video so the broker could provide slides for you as well.
There were some problems with the video, so you won’t see any fancy editing, but the content remains and I was able to get most of the video and audio quality back.
Because the interview was so long, I posted 4 of the videos in Part 1 and the last 3 videos are being posted in this Part 2.
Here are some of the questions in the interview:
- Do the insiders manipulate the market?
- What is the difference between equity, margin and free margin?
- Why do currency prices differ between brokers?
- Why do I frequently find a difference between the prices quoted and the price I get filled?
- Discuss the proposed legislation to reduce Forex margin to 10:1. Will this apply to overseas markets also?
- What’s a segregated account and is it important to have one?
- What time of day is considered the open and close for the Forex market?
- Does a Forex currency broker ever “stop hunt” my positions?
- How can I look at a Forex brokers list and tell a good currency broker from a bad one?
- Explain “First In, First Out” and how that impacts me.
- Are all trades put through the interbank market?
- Why trade spot Forex currencies rather than Futures or ETF currencies?
- Should one use an ECN broker or a broker that is a dealing desk?
Click on each of the links below to view the videos of the interview.
Josh Lampel is a Series 3 and 34 futures and Forex broker with Global Futures. Whether or not you’re a client of Global Futures, he welcomes you to follow up on this interview and contact him with any other questions you may have.
You may contact him at:
(877) 367-3177, ext. 126 (Toll-free US/Canada)
(818) 728-0415, ext 156 (International)
jlampel@globalfutures.com
www.globalfutures.com
For full disclosure: Josh’s firm, Global Futures, and I partner on some educational and marketing endeavors. However I told him that if he was going to do this he had to take the hard questions too, not just the easy ones. Josh agreed without hesitation and did a great job.
Josh answered the questions very openly and gives you excellent educational material in a clear and honest manner.
VIEW THE INTERVIEW VIDEOS HERE:
- Forex Broker Interview, Part 5
- Forex Broker Interview, Part 6
- Forex Broker Interview, Part 7
- Click here if you missed Part 1-4.
These videos are in Windows Media Format and should be viewable with Windows Media Player.
If you don’t have it, you can download it by clicking here.
If you have trouble viewing the videos, I recommend using GOM Player as most everyone has been able to view our videos with it … and it’s free. You can download GOM Player by clicking here.
WHAT DO YOU THINK OF THIS INTERVIEW? PLEASE LEAVE YOUR COMMENTS AND RESPONSES BELOW.
Great Q&A session ! Thank you Josh & Barry
Thanks Barry great piece.
Speaking from personal experience, I suspected inconsistencies from my broker and eventually found that I had been negligent in placing proper orders. As mentioned by Josh, there is no shortage of finger pointing in the forex business and some of it might be due to lack of experience on the traders’ part.
I also wanted to thank Dr. Burns again in teaching me to journal and correct my mistakes thorough proper data management. Just hoping to see Top dog cources specifically for Forex traders.
Barry, another great piece of work.
The observations from the broker side were interesting, but I’m in complete agreement with the previous poster. Yes in the past I’ve pointed fingers but when I’ve analysed the reason for a poor failed trade, guess where it’s pointing, yes, at me I’ve broken my own rules.
From a personal perspective Education is vital, as is keeping accurate records for revision and post trade analysis. Be disciplined, Patient, Know yourself, understand your chosen market and the chosen platform used to trade it.
One question Barry, what is the anticipated release date for the Top Dog Forex Trading course?
Hi Neil,
Great post (and you too Ali). I’m always impressed by and respect people who take responsibility for their own results. That’s the only way to improve.
Regarding the Intermediate Level Forex Course, golly, I just got done with the last course, “Day Trading the Invisible Edge!” Creating those courses takes a lot out of me – I enjoy it, but it’s all consuming. So it’s gonna be awhile before I come out with the Forex course. Maybe next Fall/Winter?
Can you post more articles like that?
I’m really interested in forex trading.
Thank you, admin.
Top notch interview I think. Learnt many things about trading in that dealing with brokers and knowing the process involved is a part of trading itself. Well done Barry and Josh, full marks.
Melbourne, Australia.
Currency trading brokers by the sellers and buyers are not those that are in the currencies. Just as intermediaries do not in any other situation, simply act as a mediator or link between buyers and sellers. They are not the ones that convert values ​​and does not consider it good. But the thing is that these mediators are sometimes more aware of exchange rate fluctuations as most of the buyers and sellers are.
Valutahandel
Forex trading, even in Singapore, is a risky business. Forex
investing is very attractive, as you can earn high income from just a small initial investment.
You can win fast and you can win big, but you can just as easily lose it all on the next trade – remember that.
I’m sorry but I cannot seem to find the “Bookmark” button on this page. I also think that Forex investments are exciting, but you also need to know what you are doing: spreads, pip, oscillators, etc., they can get complicated if you don’t have the correct guidance.