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My definition of a sell limit order used in forex trading
Replied 3 hours ago -
Advantages of Sell Limit Orders
Better pricing
No need to watch charts constantly
Reduced emotional trading
Aligns with professional execution style
Disadvantages
Price may not reach your level
You might miss trades
Requires patience and discipline
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I was up $2,000 but didnt take profit, and now my stop loss has been hit
Replied 3 hours ago -
I get you now. Thank you for this exposition.
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closed my buy trade before news was released only for price to skyrocket
Replied 6 hours ago -
Sincerely you did the right thing cos no one can precisely predict the direction of the market during the news. It’s always better to preserve what the market has given you and wait for another opportunity to present itself. There are numerous opportunities in the market.
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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.