April 2018 US ISM non-manufacturing PMI 3 May 2018
- Prior 58.8
- Business activity 59.1 vs 60.0 exp. Prior 60.6
- Employment 53.6 vs 56.6 prior
- Prices paid 61.8 vs 61.5 prior
- New orders 60.0 vs 59.5 prior
Soft on the headline and mixed on the sub-components.
Comments note some labour tightness and price rises, along with tensions over tariff, which survey director Nieves mentions also;
- Respondents cite uncertainty over tariffs
- Remain positive over business and the economy
No moves of note in the dollar.
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Hi Ryan,
I like your website as I am learning from you and your contributors. Would you please suggest/recommend some Forex broker and platform? Thanks.
Hi John
Thanks for your kind comments.
Picking a broker is very important and there’s a few things to consider. Firstly you should always go with a regulated broker, and where possible, one in your own country as that affords the best protection (depending on what consumer/investor protection is offered by your country).
Secondly, if you have to use a broker outside of your country then you should only stick with the biggest and most well known and steer clear of the lesser known brokers.
Thirdly, don’t be sucked in by bonuses or enticements to brokers you don’t know. Even if the trading costs are more with a big broker, you’re more secure than a lesser broker offering all sorts of gifts.
Fourth, do your research. I use a forum/site called Trade2win.com I found they offer some of the best broker reviews and feedback. I haven’t had cause to use them for a while so I hope that hasn’t changed.
Fifth, make sure that the broker you use is right for the type of trading you want to do. Some don’t like scalping etc.
Lastly, use leverage to your advantage. I use it as a money management tool, not as a means to trade more than what I have. If you have £5k you want to trade with, put only the amount in a leveraged account that will give you tradable funds up to that £5k. That way the majority of your money stays in your bank and you are playing with the brokers money. All you do after that is move money in and out as and when you profit or need to top up margin,
Without knowing where you are from, It’s hard to give advice on brokers but follow the advice above and you should be ok. If you want to let us know where you’re from, we might be able to help further.