Threads
why should i use low leverage when trading forex, any advantages?
Replied 5 hours ago -
When your leverage is low, you may not be allowed to open a big lot size after you just sustained a big loss. So, if your trading account balance was $20 and you sustained a $10 loss using a 0.1 lot size, if you try to open another 0.1 lot size trade again the broker will not let you do so except you lower the lot size drastically. So, low leverage prevents you from self-destructing and blowing your account due to revenge trading.
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Does MT4 Have Economic Calendar?
Replied 6 hours ago -
No — the standard MT4 platform does not have a built-in economic calendar.
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How Much On Average Can A Forex Trader Make Per Day?
Replied 8 hours ago -
Best answer, I picked out an important point from what you wrote- you cannot make any reasonable profit from a $100 account without risking too much.
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How will you explain stop loss & take profit to a beginner forex trader?
Replied 10 hours ago -
Sometimes, you tell yourself I am going to close the trade when my profit reaches $10 but when the time comes you become greedy and say ok let it reach $12 before I close it, before you know it the profit falls back to $5 and you start regretting. The Take Profit is an automated order designed to fix this kind of problem. Once you set it to take profit at $12 it does just that without any manual input from you. The same goes for the stop loss, they automate the process of entry and exit, removing emotions such as greed and fear from the picture.
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How to trade eurusd (with the breakout strategy)
Replied 10 hours ago -
Today the breakout of the Asian range happened at the start of the London session, and it was followed by a reversal back into the range. the play here would have been to sell after spotting the sell pattern encircled in blue. Your SL would have been 10 pips above the sell trigger encircled in blue and your TP would have been at the lower edge of the Asian box
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how do you prepare yourself mentally for the days trading?
Replied 10 hours ago -
The first thing I do is to confirm that my laptop and internet router are fully charged and ready to go. After that I read a newsletter for traders from Spectra Markets https://www.spectramarkets.com/amfx
After that I open my trading platform and check where the market is currently then I compare the current market price to what the options expiry data for the day is saying. This helps give me an idea of market direction for the day.
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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.