Threads
how do i spot volatility on charts without using indicators?
Replied 7 hours 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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Best Time To Trade Forex in Nigeria
Replied 9 hours ago -
In Nigeria, trading early in the morning or late in the afternoon is best.
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EUR/USD Beginner Level trading
Replied 11 hours ago -
I got stopped out of these trades. I am done or the day, will try again tomorrow.
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Focus on the process of trading, rather than the outcome
Replied 14 hours 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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what are the odds of passing a prop firm challenge?
Replied 14 hours ago -
About 4% odds, not because you are not a good trader but because the prop firm trading rules are designed to make you trip and fall.
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Installing/using MT4 on android phone is not difficult
Replied 14 hours ago -
Its very straight forward, register with a broker that offers MT4, open an MT4 account and get the account details including server name. Insert the details into mt4 and login
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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.