What is quality trading?

Often, all of us traders neglect a number of conditions that allow us to carry out high-quality trading. First of all, this relates to the choice of a broker and certain trading conditions, which do not allow us to reveal the full potential of our trading system.

Unfortunately, at the initial stage we omit all the little things, for example, the speed of order execution and the spread, but after gaining more or less experience, we begin to understand that it is in such little things that all our failures lie.

The discrepancy between a trader’s trading strategy and a certain type of broker account is one of the most popular mistakes, because in truth, can you really demand instant execution of an order on an account that is marked as for “Beginners”.

In addition to a small initial deposit, such accounts usually have worse trading conditions, which makes it difficult to fully apply the chosen strategy.

In order to demonstrate truly high-quality trading, you need to be very scrupulous in choosing a broker and the trading conditions that he provides. To avoid common mistakes, start analyzing yourself and your trading strategy, and then, after analyzing a number of criteria, the observance of which will help you make quality trading, start choosing a specific type of account.

Why do I say start the analysis with yourself, and not with the broker, as almost everyone does? The fact of the matter is that everyone looks at the broker’s really good conditions, opens certain types of accounts, and in the end, after a series of mistakes, they begin to understand that their trading tactics simply do not fit the trading conditions that you receive on a certain type of account. So, let's look at a number of criteria that will allow you to avoid common mistakes and allow you to demonstrate truly high-quality trading.

1) Reliable Broker

It may be a trivial point, but still the vast majority of beginners do not understand how to choose a broker, and their choice is more like a child’s, since the brighter the advertisement a person saw, the more likely he will open an account there.

This reality, and then all the ensuing problems due to a rash act, prevent you from withdrawing your earned money or you will not be able to earn it at all, because you have ended up in another kitchen where your transactions are not transferred to the interbank market.

I’m not saying that you read the regulations in detail and look for all the ins and outs, but first, look at the age of the broker, for example, the Roboforex broker has been providing its trading services since 2009 and has a number of licenses and good reviews from traders, but for some reason you avoid it and end up with very young companies without any reputation.

But your future activities greatly depend on the broker’s reputation, so make your choice responsibly.

2) Trading conditions

At the beginning of the article I already raised this topic, but it is still clear that if your broker provides poor trading conditions, then you should forget about quality trading. However, recently I began to notice a trend that no matter how much a broker provides its services and no matter how high-quality they are, there will always be dissatisfied clients.

This is not due to poor trading conditions, but to the wrong choice of a certain type of trading account. For example, the Roboforex broker provides 9 different types of accounts and let’s say you, as an experienced trader, decided to open an ECN-Pro NDD account.

The trading conditions on it are really great, instant order execution speed, market execution, no requotes, minimal floating spread. However, if your trading tactics are based on fundamental analysis based on news, then you will face the problem of spread widening, due to which you could potentially suffer greater losses than profits.

And if you opened an ECN-FixSpread NDD account, you would still have all the advantages that I listed above and a minimal fixed spread that did not expand on news. This is just a small example of how just one little thing can affect the quality of your trading.

3) Trading platform

Agree, working through a convenient trading platform is not only more effective but also psychologically more pleasant. However, brokers very often limit our choice, so try to work with brokers who have several trading terminals. Don’t be afraid of change; perhaps all your failures lie in an inconvenient platform.  

In general, if you look at it, every factor, even unnoticeable at first glance, affects the quality of your trading. However, in addition to the obvious factors, you should not ignore your work environment and mood. Remember, Forex trading is no different from business, so try to provide conditions that will allow you to demonstrate quality trading.