You've swam through the valley of darkness swerving from
one bucket-shop to the next but finally you have arrived at the light
at the end of the valley. Dukascopy is one of the largest ECN brokers
providing it's customers with direct access to Forex markets. It's
pledge of transparency and it's non-dealing desk execution guarantees
that you will receive the best trading opportunities available. However I know that you have swam from far and
beyond to finally arrive at this utopia, which is why I must liberate
you from the falsehoods spread by bucketeers. Once you have been
cleansed of these falsehoods you may finally be prosperous in your
trading activities and be able to take full advantage of the
opportunities offered to you by Dukascopy.

    












Get
Rich Quick




Apprentice traders often think that they can get rich
without risk, skill, investment, effort or time. A misconception
spread by advertisements all over the internet promising seven figure
incomes. Forex is extremely challenging, stressful, time consuming
and risky. There is a fine line between trading and gambling,
establish which side you want to be on. If you want to be a trader
then you have a steep learning curve ahead of you which includes
Macroeconomics & Econometrics along with a multitude of other
skills. The gamblers amongst you don't need any of this knowledge but
your trading days will be short lived as you will most likely lose
your account in days rather than weeks.



Leveraging




Beginners often try to maximize leverage ignoring the
increased risk of a margin call. Figure out which leverage option is
suitable for you by reviewing your trading strategy along with your
starting capital. Professional traders working for banks rarely use
leverage above 1:10. However I'm aware that some traders here are
working with very small amounts of capital which means it's seldom
impossible to make any respectable return without using the higher
leverage options. There is no ideal leverage amount as it's
entirely subjective which is why you must spend time evaluating what
leverage amount is right for you.



Automated
Strategies




Algorithmic trading can be really rewarding but you need
to design your own system or improve somebody else's. Don't expect to
become rich using an out of the box solution because winning systems
rarely get released out into the wild. Spend time learning how to use
the JForex platform and test your theories using the Dukascopy
historical tester. Investing time in learning how to compute your
theories into code will save you a vast amount of time in the long
run as you evaluate your ideas to establish whether you have an edge
or not.












Expensive
Ebooks & Other Costly Forex Products




The internet is filled with shady wordsmiths looking to
peddle you something that's going to make you millions. All you have
to do is follow three easy steps and abracadabra,
you become a successful trader. Don't be fooled by this gibberish
offered to you by self proclaimed gurus looking for vulnerable prey.
The knowledge they are offering you is available all
over the internet for free. If you are gullible enough to still buy
these ebooks then I suggest you contact me as I wish to sell you a
enchanted potion of currency trading. Assembled by George Soros and
blessed by the Vatican bank, this potion is guaranteed to make you
billions.

                      













Free Rider Problem




You can scour the internet for ideas, theories,
concepts, strategies and other trading tips but even if you are
fortunate enough to find something that works, it will only bring you
temporary success. You must invest in yourself and bring about
confidence that you can create your own strategies and theories,
without having to rely on other traders because that's the difference
between a good trader and a champion trader. As the old saying goes,
give a man a strategy and you feed him for a day. Inspire a man to
create his own strategy and you feed him for a lifetime.



Conclusion




With the tales of the bucketeers now long forgotten and
your faith in Forex gradually repaired. You may now continue on your
journey to become a lucrative trader. Your longing search for an
honourable broker is finally over but your study of Forex has only
just begun. Join the community and sign up for the contests to become more familiar with the platform whilst
improving your trading skills.