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Don't trade forex if Replied 8 hours ago - If you are too busy to monitor your trades. CFDs are not set & forget instruments.
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EUR/USD Beginner Level trading Replied 9 hours ago - Price went up to pre-high and I should have taken my profit before price went down but I was away to attend to some other matters. By the time I returned, price had fallen and hit my SL. I'm down 10 pips. I notce this week, the pattern has been fake of pre, and it is likely to continue for the rest of this week.
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Wait for the market to act before you react Replied 14 hours ago - Yes, I agree. it all comes down to following your strategy instead of using your discretion to trade. A good strategy will outline an objective entry signal which you must see before you enter the market. When the market acts you it will show you the signal then you react by taking the trade. For example if your strategy says take a buy when price closes above 1.1650 you need to wait for the close. if you decide to take the buy when price is nearing 1.1650 but has not closed, then you are gambling.
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Best Time To Trade Forex in Nigeria Replied 17 hours ago - Another trick is to enter the maket one hour before a session starts. For example, London session in Nigeria starts by 9 AM so you enter the market by 8 AM and place your trade. TThe advantage of doing this is that if you are lucky you get to ride the market trend from its infant stages before other ratail traders spot it.
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Daily FX Options Expiring by 10 AM New York Cut Replied 17 hours ago - EUR/USD expiries
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My first trade experience Replied 1 day ago - Today was not a normal day, the reversal actually happened during franky but bounced off the pre-franky low and price moved upwards for a good part of London into NY. I got stopped out of my shorts this morning. It is only this evening at the close of NY that price is begining to fall towards the 625 option barrier.
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how do i spot volatility on charts without using indicators? Replied 1 day ago - Sometimes you just need to look at the spread on the instrument you are trading, if you notice your broker has increased/widened the spread, it means they know something you dont; theres probably incoming volatiility.
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why is it called vanilla option? Replied 1 day ago - Because it is the most basic type of option that anybody can trade with a retail broker. Vanilla is known to be a common flavor of ice cream.
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My 5 Best Forex Brokers in Nigeria Replied 1 day ago - Add Trade Nation to your list
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Focus on the process of trading, rather than the outcome Replied 1 day ago - Even the best strategies fail more than 50% of the time, so yea we should expect some losses but not get discouraged and lose confidence in the process.
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⚖️Is Forex Trading in UK Legal? Yes
⚖️Forex Trading Regulator Financial Conduct Authority (FCA) UK
📅 Date Established 2013
Investor Protection Financial Services Compensation Scheme (FSCS) up to 85,000 GBP
✅No. of FCA Licensed Forex Brokers in UK 15+
💰Average OTC FX Turnover for UK 2022 (BIS Survery) 3.755 Trillion USD

What is Forex Trading & How Does it Work in the UK?

Forex Trading is when you try to make profit from predicting if the exchange rate of a currency will rise against another currency.

To trade forex you pair two currencies together (example GBP/USD) & if you think the exchange rate of the pair will rise, you place a buy order for a specific quantity, to profit if you are right.

On the flip side if you think the exchange rate will fall, you place a sell order to benefit from the fall.

To be able to trade forex in the UK, you need to use the services of a forex broker whose function is to provide you the trading software, liquidity & enabling environment needed to trade.

Forex trading in the UK is totally legit & is regulated by the Financial Conduct Authority (FCA) UK.

If you trade with an FCA licensed broker you are eligible for compensation up to 85,000 GBP if you suffer pecuniary losses due to broker bankruptcy etc.