Threads
Best time to trade crypto in Australia
Replied 3 hours ago -
Crypto paired with USD needs a lot of liquidity so I best trade it during NY or at the start of Frankfurt
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20 pip xauusd loss, how do i recover from it?
Replied 5 hours ago -
Sure you can recover, just put it behind you and move on to the next trade. Losses are unavoidable, but before you enter the next trade, check your trading account balance and open a lot size that is commensurate to your trading account balance. If your account balance is low and you try to trade the same lot size you may get a margin call and your broker will close your trades prematurely
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one impulsive trade can wipe out weeks of profit
Replied 5 hours ago -
Every time you seem very sure that the market will move in a certain direction, it ends up moving in the opposite direction. That confidence will make you increase your lot size, only for you to sustain a big loss.
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is deriv synthetic indices better than real indices?
Replied 5 hours ago -
Synthetic indices is just like prop firm, promises real money but it is skewed in favor of the developer. Its all part of the bigger plan by some people to gamify trading
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+1
what do the 1% successful traders do differently from the 99% unsuccessful ones?
Replied 7 hours ago -
Treating trading like a real business with a clear plan, rules, and tracking your results makes a big difference. Seeing losses as normal costs instead of failures helps you stay calm and improve. Good point.
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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.