Insider trading is a very volatile word. There is no question
that it is illegal. There is also no question that it is very
profitable. That is also the reason why it is illegal; it violates the
idea of a fair playing field. Brokers with proprietary knowledge of what
is going to happen have been known to trade on that knowledge and make a
lot of money and they generally go to prison too. Why?
The Inside Line
Forex
trading tips and tricks can be as simple as "...I've seen that before,
you should sell the contract now." Tips are little bits of knowledge
that are given freely (usually) to aid someone else in avoiding a
potential loss. They can also allow you to take advantage of an
opportunity. So what is so bad about that?
Nothing, in and of
itself. However, what if an employee has knowledge that their company is
about to announce bankruptcy and they sell their stock the day before
and invest in shorting the stock? That would not be fair and it might
cause others to lose money as well.
So what is a legal Forex
trading tip? While you can never fully trust what others tell you until
you verify the information for yourself, the Internet is where millions
of experienced Forex traders earn their money. With modern social
networking systems, you can easily pick up tips for better trading, new
trading software and opportunities for investment. Whether you use the
information or not is entirely up to you.
Real Forex Trading Tips
Just
like the old diner gag where a person leaves a note for the waitress
that reads "Don't Smoke" as a tip, the real Forex trading tips are
usually things like "pay attention to the market", or "Never buy an
unstable hot currency-pair." This is not facetious; instead, these are
the kinds of tips that carry forward for future Forex trading
strategies. Sage advice is the best and it is always free.
There
are networks of individuals that share their information for mutual
benefit. You might find a bulletin board, or website that has traders
that are willing to answer questions or share with the group a possible
opportunity. The reason that they do this is that they will themselves
benefit from another's information. This is an example of real Forex tip
trading, individual investors' trading hints and tips to better their
trading skills. Never rely on another to do your work, just another
legal and free tip.
These sites provide reviews on Forex software,
trading strategies, Forex brokers and broker trading platforms. The ACM
Forex trading platform is one of the better platforms, and many traders
prefer using any broker that utilizes the versatile MetaTrader
platform. MB Trading's FXNavigator is also a good platform, although as
an ECN, these platforms don't often provide the best charting that is
available with MetaTrader.
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