Tips for trading with an unreliable internet connection

Forex Trading Nigeria

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Posted by on Sunday October 7, 2012 21:56:46:

If you are living in a country like Nigeria where there is the issue of slow or unreliable internet connection, then you should know that the speed and ease at which you trade forex would be a quite different than traders using highly efficient internet services on developed countries.

Problems that an unreliable internet connections can cause
- Lost opportunities
- Slow news updates
- Slow execution of orders
- Slow chat rooms messages

Here are some tips that can help you trade profitably when using an unreliable internet connection.
- Always Enter using stops rather than market price
- Use a wide stop loss when trading highly active currency pairs.
- Always set stop loss and exit points for every order using the set and forget strategy
- Avoid using instant execution of orders