MyTradingLand Logo
Log In
en

Threads
SLK STRATEGY Replied 3 hours ago - Price is currently reacting at my buy marked zone. Waiting for confirmation on H4
2
91
7 Subs
Forex trading for beginners a primer. Replied 3 hours ago - Oh so its easier to spot S/R lines on a bar chart
2
18
10 Subs
Nairatrader Propfirm Replied 4 hours ago - Can we have an idea of their rules and others?
0
1
0 Subs
for which forex pairs is eurusd correlation negative? Replied 4 hours ago - When USD/CHF moves opposite to EUR/USD, that's not correlation in the trading sense, it's just mathematical mechanics. Both pairs share the USD as a component, so they mechanically move in opposite directions by definition. When USD weakens, EUR/USD rises and USD/CHF falls automatically. This is algebra, not market correlation. The coefficient it seems is about -0.90. In trading, correlation refers to unrelated or independent assets that move together (or inversely) due to underlying market forces. True hedging or diversification requires finding assets that are unrelated. Using pairs that mechanically move opposite (like EUR/USD and USD/CHF) isn't proper correlation-based hedging. it's just taking offsetting positions on the same underlying variable (USD strength). Essentially, your trade on one position will be nulled by the other. Your gains on one position are almost completely nullified by losses on the other. You've locked in zero net exposure and zero net profit—you're just paying spreads and commissions for nothing. What you want when we talk about true hedging, is even if the entire market is falling. one position provides protection while the other declines. As an intraday trader, you enter a trade with a bias based on your edge, you are either right or wrong. Hedging would completely undermine this by trying to protect both sides, which defeats the entire purpose of taking a position in the first place. You hardly ever need hedging (there is no point, you are in the position to make profits, or a loss if you are wrong). You have SLs, and small time horizon. If you are worried about some extreme event, just use a Guarantee SL.
0
7
0 Subs
What does a Buy Limit order mean to a forex trader? Replied 4 hours ago - A buy limit ( aka buy stop limit) is a pending order you set when you want to buy when price is falling. It is different from a regular buy stop order so dont confuse the two. A buy stop order means buy when the price drops to my desired price but if for some reason price gaps/jumps over my specified price, dont buy at a lower price. This is kind of limiting right? A buy stop limit means buy when price drops to my specified price but if price gaps over my soecified price, still go ahead and fill my order in at the next lower available price than what I specified. I dont think MetaTrader has the buy stop limit (they only have the buy stop) but I use cTrader and I have attached a screenshot from cTrader showing you their buy stop limit, which is vry cool.
0
5
0 Subs
How to fund forex account Replied 6 hours ago - Open a Verified Trading Account Before funding, a forex broker normally requires: Your name and contact details Proof of identity (ID/passport) Proof of address Age confirmation (must be an adult for real accounts) ✅ 2. Choose a Funding Method Most brokers offer several funding options, such as: Common Methods: Bank transfer Debit/credit card Mobile money (in some countries) E-wallets like Skrill or PayPal (depending on broker) Each method has: Processing times Possible fees Minimum deposit amounts ✅ 3. Go to the Broker’s Deposit Section Inside your trading dashboard, you’ll find a button like: "Deposit" "Fund Account" "Add Funds" From here: Select your account type (e.g., Standard, Raw Spread) Choose a currency (usually USD) Select your payment method ✅ 4. Enter the Amount You type in how much you want to deposit. Most brokers have a minimum deposit like: $5 $10 $50 (varies) Make sure you deposit only money you can afford to lose. Forex carries real financial risk. ✅ 5. Confirm the Payment You’ll be redirected to a secure payment page to approve the transaction. Once approved: Cards/e-wallets: Usually instant Bank transfer: 1–3 days Mobile money: Often instant
0
2
0 Subs
US30 trading strategy Replied 6 hours ago - TP hit for 21 points profit
1
54
5 Subs
Raw Spread or Standard Forex Trading Account Which Is Better for Scalping? Replied 7 hours ago - For scalping, a Raw Spread account is almost always better than a Standard account — as long as you understand the commission costs and use proper risk management. Raw Spread Account (Best for Scalping) ✅ Advantages Very low spreads (often 0.0–0.3 pips on major pairs) Faster execution More accurate entries for tight stop-loss setups Perfect for high-frequency strategies ❌ Disadvantages You pay a commission per trade Costs can add up for complete beginners Requires discipline with trade management ⭐ Why scalpers prefer it? Scalpers trade quickly and aim for small profits. Lower spreads give you a better chance to hit your targets.
0
6
0 Subs
Fixed or Variable Spread: Which is Best For New Forex Traders? Replied 7 hours ago - What Are Variable Spreads? Variable (floating) spreads change depending on market liquidity. ✅ Advantages Much lower spreads during active sessions Better for long-term growth and experienced strategies More transparent and closer to real market conditions ❌ Disadvantages Spreads widen during: News events Low-liquidity times Unexpected volatility
0
5
1 Subs
Does FxPro have TradingView? Replied 7 hours ago - The FxPro connection to TradingView is very unstable. It keeps logging me out in the middle of a trade then asks me to reconnect but to do so it sends an OTP to my email and the OTP always arrives 5 minutes late or more. So between the time I am locked out of my TradingView and the time I regain access over 15 minutes would have passed and this caused me losses. I had to complain to FxPro about the unnecessary 2FA security feature which requires me getting a code sent to my email every time I am locked out of my TradingView. They said nothing could be done about it so I had to stop using the FxPro TradingView and I switched to trading directly from their cTrader web platform.
0
3
0 Subs

Trending News

Canada's Inflation Cools to 2.3% in January
5 hours ago
0
0
Read more
Bank of England to Cut Rates to 3.50% in March, Uncertainty Looms
7 hours ago
0
0
Read more
UK Unemployment Jumps as Payrolled Employees Drop by 121,000
7 hours ago
0
0
Read more
Germany's Inflation Rate Climbs to 2.1% in January 2026
11 hours ago
0
0
Read more
Canadian Manufacturing Sales Edge Up 0.6% in December
12 hours ago
0
0
Read more
Canada And Denmark Seal New Defence Pact as Greenland Tensions Rise
12 hours ago
0
0
Read more
Join us today

Be part of our news update and stay updated

Join
best-forex-brokers

Brokers
CMC Markets

CMC Markets is an FCA UK Regulated & Publicly Traded CFD & Spread Bets Broker offering the MT4 Platform, No Minimum Deposit & Tight Spreads

View Visit
IG Markets

IG Markets UK is an FCA regulated firm that offers CFDs & Spread Bets on several instruments

View Visit
Oanda

Oanda is an FCA & ESMA Regulated CFD & Spread Bet Provider with No Minimum Deposit & Guaranteed Stop Loss

View Visit

University
Modules
Technical Analysis
Fundamental Analysis
Videos

Market Hours (UTC +1)
1am
3am
5am
7am
9am
11am
1pm
3pm
5pm
7pm
9pm
11pm
tokyo Session
tokyo Session
london Session
new york Session
⚖️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.