Preschool>= Lesson Status ?
Kindergarten>= Lesson Status ?
Elementary>= Lesson Status ?
Grade 1 Support and Resistance Levels
Grade 2 Japanese Candlesticks
Grade 3 Fibonacci
Grade 4 Moving Averages
Grade 5 Common Chart Indicators
Middle School>= Lesson Status ?
Grade 7 Important Chart Patterns
Grade 8 Pivot Points
Summer School>= Lesson Status ?
High School>= Lesson Status ?
Grade 9 Trading Divergences
Grade 10 Market Environment
Grade 11 Trading Breakouts and Fakeouts
Grade 12 Fundamental Analysis
Grade 13 Currency Crosses
- What is a Currency Cross Pair?
- Crosses Present More Trading Opportunities
- Cleaner Trends and Ranges
- Taking Advantage of Interest Rate Differential
- Obscure Crosses
- Planning Around News and Fundamentals
- Creating Synthetic Pairs
- Euro and Yen Crosses
- How to Use Crosses to Trade the Majors
- How Cross Currency Pairs Affect Dollar Pairs
- Summary: Currency Crosses
Grade 14 Multiple Time Frame Analysis
Undergraduate>= Lesson Status ?
- Why Keep a Trade Journal?
- Benefits of Keeping a Journal
- What Should You Record in Your Journal?
- Potential Trading Area
- Entry Trigger
- Position Sizing
- Trade Management Rules
- Trade Retrospective
- Trading Journal Statistics
- Reviewing Your Trading Journal
- Difficulties of Keeping a Trade Journal
- Summary: Keeping a Trade Journal
Graduation>= Lesson Status ?
- Which Trading Style is Best for You?
- Which Currencies Should You Trade?
- What is Your Level of Trading Experience?
- Should You Be a Discretionary, Mechanical, or Hybrid Trader?
- What Kind of Mechanical System Suits Your Personality?
- What is Your Attitude Towards Risk?
- What Kind of Stop Suits Your Trading Style?
Beware of Bucket Shops
Here are the bad guys we keep mentioning earlier. Bucket shops are fraudulent brokerage firms that "book" a client's orders but never really execute them on an exchange.
Have you ever seen Boiler Room?
Aww come on, don't tell me you missed Ben Affleck's legendary speech about money?!
"They say money can't buy happiness? Look at the smile on my face. Ear to ear, baby!"
And it's precisely this greedy money-oriented philosophy that drives the people operating bucket shops.
They're named such because these brokers used to put their clients' phone-in orders in slips then dropped them (the slips, not the clients) in a tiny bucket instead of actually executing them.
Without the real transactions, the client is actually betting against the bucket shop operators who are also known as bucketeers.
These bucketeers do not usually disclose the real price of the asset their clients are trading, which means that they can lie and tell the client that the price has moved against them even when it really hasn't.
But thanks to the invention of the internet, clients now have a way to tell whether their broker is cheating or not! Thank you again Mr. Al Gore. You are so awesome.
Lucky for you, we at BabyPips.com are more than willing to help you avoid entrusting your hard-earned cash to these nasty bucketeers.
To help you separate the good brokers from the bad ones, we've come up with ReviewPips.com, wherefellow forex traders were kind enough to post their feedback on brokers.
You might also want to check out our forex forums where friendly forex folks discuss their experiences with different brokers.
So before you deposit your money with just anyone, make sure to do your espionage so that you avoid fraudulent brokers and forex scams. Mind you, there are plenty out there and we'll look more into that later on!
While you are logged into your account,
you can save your progress in the School of Pipsology!
- History of Retail FX
- Different Types of Brokers
- Which Type of Broker Should I Choose?
- 6 Most Important Things to Consider When Choosing a Broker
- Beware of Bucket Shops
- Defending Yourself
- Opening a Forex Trading Account