Trade with spreads as low as 1 PIP – Save money with Interbank FX’s low spreads.
Execute trades fast – really fast - Forex is a fast moving market, and getting in and out of trades quickly is important. Interbank FX tracks how fast trades are executing to help make sure your trades are some of the fastest.
Multi-bank liquidity - Forex does not have a central exchange, which allows for competing prices from Interbank FX’s group of global banks and institutions. This multi-bank liquidity system helps to ensure that you’ll get the best available price with the best available spread. Open a demo account to experience the difference.
100% automated & anonymous execution – Automated and anonymous order execution means there is no dealer intervention or price manipulation. With our multi-bank model your trades have complete anonymity.
Flexible contract sizes – Interbank FX’s flexible contract sizes allow our customers the ability to trade down to 0.01 of a lot: open a trade with as little as $1 in margin!
Award winning forex broker - We don’t like to toot our own horn, so to speak, but we are proud of the awards IBFX has received: Inc. 500, Fastest growing private companies – 2008 & 2009, Shares, Best Foreign Exchange Broker – 2007, 2008, 2009, Money AM, Best Online FX Provider – 2008 & 2009
Free advanced trading tools – We offer trading tools that we feel are accuracy inducing free to our traders because your success is a top priority for us. Professional grade tools help our traders spot trends from multiple sources and get in an out of the market when they feel the time is right.
Friendly customer support - Since our first day in business back in 2001 we’ve always aligned goals with the success of our customers. IBFX is open and available via phone, email or online chat every minute the market is open.
All EA’s welcome – Expert Advisors are an important part of some traders trading strategies. We accept all EA’s with open arms – including those that scalp.
No swap accounts – Interest-free accounts are available for those looking to trade under Sharia law. Learn more about our no-swap accounts.
Interbank FX provides free practice or demo accounts so you can trade with “play” money until you’re ready to trade for real.
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Why is it so hard to follow your rules?
For this short post I will use my life-long friend Gary as the guinea pig in the example 
Most everyone has a very hard time following their rules in the beginning. After months or years of struggling and financial losses, your mind is in self-preservation mode and every action it takes is almost always in direct conflict with the necessary actions to trade successfully.
I won’t get into the psychology of why, but I will cite a simple and true example. I hope Gary doesn’t mind
Yesterday Gary and I were on the phone talking about some mistakes we see traders making over and over on the forum. And our conversation reminded me of a particular instance that happened a long time ago with Gary and I. I recalled it and we both had a good laugh.
What I remembered was that a long time ago when Gary was first developing a new strategy, and he and I were on Skype together as we often are, trading… Gary entered a position. It was working fine, in his favor. He then began to question himself. He and I have different charts, keep in mind.
I said something like “why are you questioning this?” because it looked fine to me, nothing had changed to make me think it was going to fail. And he kept saying “I don’t like it.” but when I asked him why, he couldn’t answer, at least not with specifics. I reminded him, “hey this looks fine to me, follow your rules” but he kept saying no, he was going to just take it off. I think he had suffered from a couple stops in the day before this trade and was second guessing his strategy. Remember, he worked a long time on developing this strategy and had sim traded it for a long time, but didn’t have much experience trading it cash yet. This was a cash trade.
So I knew his rules loosely, and even though I didn’t have his chart in front of me, I kept reminding him “hey, your rules say to stay in until xyz, right?”. Of course they do, but his response was “yes, but I just don’t like it. Something isn’t right”.
So now I am starting to raise my voice a bit because it’s like I need to “snap him out of it”. I am getting to the point where I am like “Gary! Follow your damn rules! There is nothing wrong with this trade! You can’t even tell me what you don’t like about it!”.
Still, Gary is acting like he is going to pull the trade any moment. Why? Because he is up, enough to cover his prior losses probably, and is mind is in overdrive to protect itself, screaming at him to EXIT!!!! But in trading it’s all about probabilities, and all about discipline. It’s very little to do with where you enter, it’s everything to do with what happens next and where you exit.
Gary spent months working on this system and then traded it sim for weeks and was killing it. Yet when he went to cash with it he relapsed into old ways of not following his rules. I could sit there on skype, yelling “Gary! Why are you even CONSIDERING not following your rules?!?! Don’t you remember where that gets you!!?! Don’t you know that you MUST. FOLLOW. YOUR. RULES.!!!!!!” and yet he was still just barely listening, his mind was blocking me out, the fear was taking over.
Now, this story has a happy ending. During the 3 or 5 minutes I was having this “conversation” with him, it popped. He was now up two times as big as before, then three, then four times. I convinced him to follow his rules and because of it he ended up taking a huge winner.
What does this tell you? Gary and I have been friends for over 15 years. We’ve been through a lot of stuff together. Yet even with me YELLING at him to not take the trade off, and to follow his rules for the love of pete, he almost didn’t.
So you can imagine how hard it is for someone who doesn’t have that person in the background telling them they need to follow their rules 10 times over and over… that person would almost certainly NOT follow the rules. And of course then they beat themselves up, which leads to a whole new set of problems which ultimately causes them to have even more fear.
Anyway, I wanted to share this little story because I wanted to underscore the importance of psychology in trading. It’s not indicators that make you win or lose. It’s what you do in the above situation. This is the mountain you have to climb in your trading career before you can be successful. All the way up the mountain, you are struggling and gasping for breath, afraid you will fall, avalanche, everything. But once you get to the summit you have a real sense of accomplishment, a real sense of pride, you conquered your fear, and now each time you climb that mountain in the future it is easier and easier.
Mike
I was curious about some habits of forum users on Big Mike Trading, so I created a few charts. The chart data is based on the Trader’s Edge stories area, a section at the top of the forum that features some of the more popular concepts on the site.
It is important to remember than this is not very scientific. Some stories are only one week old, while others are a month old, so the number of clicks is not going to be scaled proportionally.
The first chart is a list, from oldest (top) to newest (bottom) of subjects in Trader’s Edge as of today, and how many clicks each story received. It’s important to note, the clicks are only counted here for views directly from Trader’s Edge. If someone views the story without going through Trader’s Edge first, it does not show up here.
The second chart is an overview by category. I decided to place each story into a category, either Automation, Indicator, Education, or Journal. It isn’t perfect but it gives an idea of where the majority of interest lies.
I might do this again later in a few months or a year, so we can have some more accurate info.
Mike
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For many businesses filing their financial statements using XBRL to comply with the SEC mandate, the phrase “extension taxonomy” is a largely misunderstood term. There is a narrow view that it is only about adding brand-new company-specific elements which do not exist in the base taxonomy (Ex: US GAAP 2009).
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The Cloud Report is a validation tool created by a third party to assist with the XBRL filing process. In fact, some printers use this tool as their validation tool for their XBRL clients. Rivet currently uses its own proprietary tool to perform this function and does not rely on a third party for its validation.
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