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Forex trading for beginners a primer.
Replied 7 hours ago -
Finally, beginner traders should keep a trading journal. A trading journal records every trade, including the reason for entering the trade, the outcome, and lessons learned. Over time, this helps traders identify patterns in their behavior and improve their decision-making.
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How to trade eurusd (with the breakout strategy)
Replied 10 hours ago -
Today, we saw a double buy opportunity with two reversals occuring during the Pre-Frankfurt hour and at the start of the London session.
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20 Days Trading Challenge with MTL UNI
Replied 10 hours ago -
Day 1 Result
Take Profit was reached and I am up 10 pips or $10
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why am i losing so many trades in a row consistently?
Replied 13 hours ago -
IF YOUR STRATEGY ALREADY HAS AN EDGE, THEN CONSIDER YOUR RISK MANAGEMENT. IF YOU ARE GOING TO BE PROFITABLE WITH A PARTICULAR STRATEGY THAT HAS AN EDGE, YOUR RISK HAS TO BE CONSISTENT IN ALL TRADES. I MEAN YOU HAVE TO RISK THE SAME AMOUNT FOR ALL TRADES. DO NOT RISK 100$ ON ONE TRADE AND RISK 50$ ON ANOTHER TRADE. BE CONSISTENT IN YOUR RISK MANAGEMENT.
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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.