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what are synthetic indices? Replied 3 weeks ago - You are welcome, always here to help.
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can i trade binary options in the uk Replied 3 weeks ago - You cannot trade binary options in the Uk. It’s been banned since 2019.
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what is power hour in trading? Replied 3 weeks ago - Power hour refers to the most active and volatile time in the market when price movements are usually the strongest. It’s when trading volume spikes, meaning more buyers and sellers are in the market . This happens when two forex session overlap .
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what is considered a whale in crypto? Replied 3 weeks ago - A crypto whale is an entity or individual holding significant amount of cryptocurrency enough to affect liquidity and move prices. For example, if someone holds 10,000 Btc and decides to sell all, the price of bitcoin will sharply drop. That individual is a whale.
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what does going long & going short mean in trading? Replied 3 weeks ago - Going short means selling the base currency expecting it to depreciate . When you go short, you believe the first currency (base) will weaken against the second (quote)
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What is a pip in forex trade Replied 3 weeks ago - A pip which is the short for percentage in point is the smallest price move a currency pair can make in the forex market.its used to measure profit or loss. Most of the time , 1pip is 0.001 of the currency pair.
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what does spread mean when discussing forex? Replied 3 weeks ago - Spread also determines how close to your entry you can place your stop loss. So, if you are the type of trader that likes setting a tight stop loss, you had better look for a broker that offers very low spread if not every time you set your stop loss it will just get hit even without price reaching it. Many new traders always complain about this phenomenon of stop loss getting triggered without price reaching it, it is due to the wide spread of the broker. When every you are trading always make the bid and ask lines to show on the chart, anytime those lines approach your stop loss line it will be triggered depending on if you are long/short. If you are long and the lower line meets your stop loss it will be triggered, if you are short and the upper line meets your stop loss it will be triggered.
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What Time Does The Forex Market Open in South Africa? Replied 3 weeks ago - The global market opens with the Sydney session. Sydney session opens 10pm GMT(Sunday) . In South Africa, that’s 12am Monday (Midnight). Therefore the forex market open 12am midnight on Monday.
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London session forex time in Malaysia Replied 3 weeks ago - When the Uk is on GMT(late October to late March), session opens 8am GMT but 4pm MYT in Malaysia. When the UK is on BST(Late March to late October), London session opens 7am GMT, 3pm YMT in Malaysia.
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London Session Forex Time in Kenya Replied 3 weeks ago - By default, the London session starts by 8 am in the United Kingdom, so just convert it to Kenyan time.
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When does the Asian Forex Session Start & End in Kenya? Replied 3 weeks ago - The Asian session in Kenya starts by 3am and ends by 12noon. Note: Japan does not use daylight saving time, so this time stays the same all year. Jpy pairs are the most active during Asian session. They include, usdjpy, cadjpy, Audjpy, Nzdjpy, etc.
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cpi meaning in forex Replied 3 weeks ago - But in Nigeria the interest rate is high yet the naira is still weak, can you shed more liight on this?
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does anyone have inspiring forex success stories to share? Replied 3 weeks ago - When I begab trading some years ago I was always depending on technical indicators to tell me what to do and I was always losing. It was not until I listened to a podcast where someone said technical indicators are not for beginners that something clicked. I researched more and came to the conclusion that technical indicators are like driving an automatic transmission but when learning you need to learn with the manual transmission. After that I began to learn price action and seasonal market behavior and my situation began to change from unprofitable to semi-profitable. I am still on the journey though.
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What Time Does the Forex Market Close on Friday in Nigeria? Replied 3 weeks ago - Forex Market Closing Time on Friday in Nigeria ✅ During U.S. Standard Time (Nov–March): New York closes at 5:00 PM EST Nigeria is 6 hours ahead ➡ Forex closes at 11:00 PM (23:00) in Nigeria ✅ During U.S. Daylight Saving Time (March–Nov): New York closes at 5:00 PM EDT Nigeria is 5 hours ahead ➡ Forex closes at 10:00 PM (22:00) in Nigeria
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How Much is Traded Daily in the Forex Market? Replied 3 weeks ago - The forex market is the largest financial market in the world. Every day, trillions of dollars are traded globally. According to the Bank for International Settlements (BIS) 2022 data: Average daily trading volume = $7.5 trillion USD This includes all currencies traded worldwide: USD, EUR, JPY, GBP, and others.
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do i need a mentor in forex trading? Replied 3 weeks ago - I believe you need a mentor in trading forex. Having a good one can make the process much faster, clearer, and safer. Why a Mentor Can Help? ✔️ 1. Avoid Beginner Mistakes A mentor helps you stay away from common problems like: overtrading revenge trading impatience blowing accounts poor risk management They guide you so you don’t learn everything the hard way. ✔️ 2. Shorter Learning Curve A good mentor: explains concepts clearly shows you what actually matters helps you avoid confusion helps you progress faster They simplify what takes beginners months to figure out. ✔️ 3. Better Psychological Control Trading is emotional. A mentor gives: accountability support feedback discipline This builds confidence and reduces frustration.
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How much is 1 pip in USDJPY ? Replied 3 weeks ago - USDJPY is a JPY pair, so 1 pip = 0.01 (two decimal places). The pip value depends on your lot size: 📌 1 Pip Value on USDJPY ✅ Standard Lot (1.00 = 100,000 units) 1 pip ≈ ¥1,000 Convert to USD: If USDJPY = 150, for example: ¥1,000 ÷ 150 ≈ $6.66 per pip ✅ Mini Lot (0.10 = 10,000 units) 1 pip ≈ ¥100 Convert to USD: ¥100 ÷ 150 ≈ $0.66 per pip ✅ Micro Lot (0.01 = 1,000 units) 1 pip ≈ ¥10 Convert to USD: ¥10 ÷ 150 ≈ $0.066 per pip (about 7 cents)
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what is the smallest lot size i can trade in forex Replied 3 weeks ago - The smallest lot size you can trade in forex depends on the broker, but here’s the general rule: ✅ Smallest Possible Lot Size: 0.01 LOT (Micro Lot) Most brokers allow a minimum of 0.01 lot, also called a micro lot. 📌 What is 0.01 lot? 0.01 lot = 1,000 units of a currency On most major pairs, 1 pip ≈ $0.10 This makes it the safest and smallest position size for beginners.
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How long does it take to learn forex trading Replied 3 weeks ago - There is no fixed time, because it depends on the person. It took me about one and half years to understand the market. I am still learning though.
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what are the odds of passing a prop firm challenge? Replied 3 weeks ago - I understand that the reason traders flock towards prop firms is because they are not disciolined enough to make it with regular trading accounts. I dont beleive it is lack of funds that drives them to prop firms because the challenges cost money to purchase too. They say they want the prop firm to "force them to be disciplined" so the prop firms capitalize on this and set outlandish rules that they know the traders cannot abide by. You pay 100 bucks and get a 20,000 USD account and for a second you forget the rules and begin to think the 20,000 USD is yours to do as you please with. The rude awakening usually comes when the 20,000 USD account is taken from you and closed forcefully due to your breaking a rule.
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