MyTradingLand Logo
Log In

Forex Forum

Join the community of forex traders.

Filter By Category
Can I start trading with $100 Replied 1 month ago - But high leverage is also dangerous for beginners
0
3
1 Subs
How to calculate 0.1 lot size in dollars Replied 1 month ago - 0.1 lot is 10,000 units of an instrument so if you want to trade EUR/USD whose exchange rate is currently 1.1600 and your leverage is 1:3000 then 0.1 lot will be worth (10,000 units x 1.1600)/3000 = $3.86 This means you must have at least $3.86 in your trading account before your broker will allow you open a 0.1 lot size position on EUR/USD using a leverage of 1:3000.
0
1
2 Subs
How does a raw spread account work in trading? Replied 1 month ago - Raw spread accounts have a benefit of transparency since the commission is the major part of the trading fee, while spread is a minor part. You see with regular trading accounts, the spread is way higher, can be widened during a trade & is not shown in the history or account statement. But with raw spread accounts, the spread is a minor part of the trading fee instead the commission per trade which is the major part of the trading fee, is displayed in the account history and acount statement. This way. you can calculate how much fees you pay for each trade. Raw accounts are ideal for high volume traders where even the slightest increase in spread could translate to a tangible sum of money. In the grand scheme of things there may not be a significant cost saving when it comes to raw/standard accounts but the raw account definitely offers more transparency.
0
3
0 Subs
how does unlimited leverage work? Replied 1 month ago - Unlimited leverage is just like betting (winner takes all). There is no room for managing losing trades. When you enter a position and it goes in your favor, your trading account balance is doubled with every pip movement. If the market moves against you by even 1 pip, your entire account balance will vanish.
0
2
0 Subs
is the U.S. bond market open on veterans day? Replied 1 month ago - No, the bond market is closed on Veterans Day because bonds are government securities and since government offices will be closed the bond market will also be closed.
0
1
0 Subs
what is contract trading? Replied 1 month ago - It's basically trading something which you do not physically have. If I enter into an agreement to buy a car from you for $5,000 in two weeks' time, I can go and look for another buyer willing to pay $6,000 and sell the contract to him then keep the difference of $1,000 as my profit. So, I profited off your car without taking ownership of it. This is the same model used by online brokers when people trade CFDs.
0
1
0 Subs
what does bitcoin mining mean? Replied 1 month ago - Yes, just open an account with a bitcoin exchange and deposit money, then you can buy fractions of bitcoin and own them.
0
4
1 Subs
why do brokers split withdrawals into small bits? Replied 1 month ago - I think its for compliance to anti-money laundering laws
0
1
0 Subs
cpi meaning in forex Replied 1 month ago - When the United States government releases their CPI report it can cause the dollar to fall or rise, and you see the effect on the charts. If the CPI numbers come out better than the experts had forecasted, you will see the dollar gain strength and vice versa.
0
3
2 Subs
can i trade binary options in the uk Replied 1 month ago - The binary option ban in the UK, has been in effect for years now https://www.fca.org.uk/news/statements/fca-confirms-permanent-ban-sale-binary-options-retail-consumers
0
3
0 Subs
why do bond cfds have lower leverage than forex cfds in the UK? Replied 1 month ago - The FCA has since shifted position on this matter, they now allow up to 1:30 leverage on bond cfds. In the past, the FCA had tried to comply with ESMA regulations but on the matter of leverage on bond cfds, they disagreed with the ESMA and insisted on increasing leverage on bond cfds to 1:30 because they say it is lower risk than forex and ,ost traders use bond cfds for hedging and not for speculation.
0
1
1 Subs
what is margin level in trading, when should I be worried about it? Replied 1 month ago - In some jurisdictions like the UK, Europe & Australia, the financial market regulators set the stop out level for brokers to apply to their clients' accounts.
0
3
1 Subs
what is margin trading, what assets can i trade on margin? Replied 1 month ago - Thank goodness for margin, a lot of us would not be able to trade without margin.
0
3
3 Subs
can I trade options on every stock? Replied 1 month ago - The answer is no! Options are instruments meant to manage risk exposure on the stock. Some stocks (like penny stocks) have little or no trading volume on the exchange so if almost nobody is trading the stock why will the exchange design an option for it? Think about it!
0
2
2 Subs
Do prop firms actually copy your trades? Replied 1 month ago - There is no evidence to support the claim made by some prop firms about copying trades of those who buy their challenges. This is why I hope regulation of prop firms will come fast so that some of these claims can be subject to regulatory scrutiny. Some people will say since the prop firms do a profit split it means they copy your trades, but there is no evidence to substantiate this claim. It could be that they prop firms make the claim of copying your trades to justify why they do a profit split with you.
0
3
5 Subs
Is XM broker allowed to operate in Singapore? Replied 2 months ago - XM and Octafx broker websites were blocked by the market regulatory authority in Singapore, that should explain why your friend cannot access the sites.
0
2
2 Subs
Where can I get huge capital to trade forex with? Replied 2 months ago - Try a prop firm but 95% of traders who buy their challenges fail the first try.
0
2
2 Subs
which is the worst month to trade forex? Replied 2 months ago - I will go with December being the worst month of the year to trade forex because portfolio managers, banks, investors etc. are wrapping up and tidying their books so the market could be excessively eratic.
0
1
1 Subs
What is a pip in forex trade Replied 2 months ago - forex trading is about speculating/predicting by how much the exchange rate of a currency will change and a pip is used as a means of measurement to calculate the change. if the exchange rate of the euro against the us dollar (aka EUR/USD) moves from 1.1750 to 1.1751 we can say it has moved by 1 pip. The simple math is (1.1750 - 1.1751) = 0.0001 or 1 pip. Key considerations when calculating pips for currency pairs are you should keep in mind that exchange rates could be quoted to 4 decimal places (example 1.1750) but some brokers quote them to 5 decimal places (example 1.17500). For a 5 decimal exchange rate quotation, if EUR/USD rate changed from 1.17501 to 1.17509 then it would have moved 0.8 pips. The math is (1.17509 - 1.17501) = 0.00008 or 0.8 pips
0
2
3 Subs
what does going long & going short mean in trading? Replied 2 months ago - Going short means, you want to enter the market by clicking on the "buy" button (it is ideal to buy when price is rising) while going short means you want to enter the market by clicking on the "sell" button (it is ideal to sell when price is falling).
0
2
1 Subs
1 2 3 4 5 6 7 8 9