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how to buy crypto in south africa Replied 3 months ago - Step 5: Buy Cryptocurrency Assets After a successful deposit into your account, you can then buy digital assets by converting your USDT into whatever asset you want, or you can simply go through your trading platform’s marketplace, and pick a Cryptocurrency asset you want to buy, you will find hundreds of options available. You will also find that they are quite different order types to choose from, they include: 1. Limit Order You get to buy at any price you set for the order to be executed. 2. Stop-Limit Order This order is executed when the market price reaches a certain point. 3. Market Order This executes your order at the current market price. Furthermore, you should note that you can either hold digital asset as a form of a long term investment or you can buy/sell them on the Futures perpetual & quarterly contracts on a trading platform you choose to use as a day trader. After Buying Cryptocurrencies you can save them on platforms like Trust Wallet, Metamask, etc, these platforms do not support trading, but they serve as banks for digital assets. Meanwhile other platforms like Binance offers a built-in wallet to hold assets and also offers futures trading where you trade with leverage to increase potential gain. Keep in mind that leverage increases potential losses too. Consider each step carefully before buying Cryptocurrency, as earlier mentioned Cryptocurrency carries significant risks, market volatility & potential losses.
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hedging or netting account, which should I choose? Replied 3 months ago - I used the hedging account type as a beginner because when I opened several trades they were displayed separately. This made it easy for me to understand what was going on. Any trade that was underperforming, I could easily single it out and close it. With netting accounts this is not the case as all the trades would have been summed into one big beautiful trade
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How long does it take to learn forex trading Replied 3 months ago - It took me a year to learn and 2 years after I am still not profitable.
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what is A-Book and B-Book Broker in forex? Replied 4 months ago - A-book brokers don't make the market instead they push your order straight to the liquidity provider in exchange for a commission. This is why A-book brokers charge near-zero spreads plus commission. The advantage of A-book brokers is more transparency and faster execution. B-book brokers take the opposite side of your order and trade against you. The advantage of B-book is that you can use things like micro/cent account to execute small orders. Small orders are executed faster with B-book brokers bit they charge a wider spread.
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I hardly make more than 10 pips profit on a trade, am i doing badly? Replied 4 months ago - You can build a career on 10 pips. Every now and then even get more then that. It's about how much you make with 10 pips and how you accept losses. Take a trade. close 2/3 for 10 pips rest be.Good approach. Immediately scale the trade if you feel the trade moves in your favor to maximize the potential of a winner. And aggressively cut losses when you feel market is kicking your ass. Watch the movie karate kid, the old one 1984. How Mr Miyagi teaches daniel only one move.Trading is same you know one thing so well you become a master at it and you do it day in and day out.
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what is FVG? Replied 4 months ago - I agree with @Karbin, these course sellers make something so easy so complicated.
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how do you manage to stay disciplined as a trader? Replied 4 months ago - I wait till i see the setup I'm looking for before i trade. If i don't see the setup, then i don't trade at all. No position is still a position, I may not make money that day, but at least i will not lose money.
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How do i register for the free forex training organized by the Nigerian government? Replied 5 months ago - The program starts on August 29th 2025, on that day it will launch in Abuja. I am still getting details will update you here. it will likely be a physical program holding in different states.
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Why Does It Feel Like I'm Gambling When I Trade Forex? Is Forex Trading Gambling & I know Many Will Say Its Not But I Sure Have A Feeling It Is Replied 5 months ago - True
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what are the qualities of a good trader? Replied 5 months ago - I would say being a good observer is a good quality for a trader to have. You know how we play spot the difference where you are given two images and asked to find out a difference? Thats kind of like what i mean. Looking at the charts, a good trader should be able to spot areas of similarities quickly.
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Transitioning from demo account to prop firm trading without live tradng experience Replied 5 months ago - around 95% of those who take prop firm challenges usually fail, this are legit statistics i saw on maven prop firm legal docs. This means it is not a walk in the park, just because you recorded some success on a demo account doesn't mean you are ready to face a prop firm challenge. Perfect your craft more using a real account so you dont waste your money on prop challenges.
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what's the difference between trading & investing Replied 5 months ago - Trading is basically buying and selling in short time frames, like minutes, hours, or days. It involves trying to make profit from quick price movements. It comes with higher risk and you'd need to dedicate some time to it. Investing is more long-term. You buy something and hold it for weeks, months, or even years, expecting it to grow slowly over time. It's generally lower stress and less risky, but also slower when it comes to returns. If you're a beginner and you're not very conversant with the nuances of the market and don't want to be glued to the screen, investing might be the safer and easier option. It can help you learn the markets without feeling overwhelmed and once you're comfortable, you can move on to trading.
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How much is 0.01 lot size in forex, How many South African Rand does 0.01 lot in the Forex market mean? Replied 5 months ago - A standard lot is 100,000 units of an instrument so 0.01 lot is (0.01 x 100,000 units) = 1,000 units Now if you are trading an instrument like eur/usd with an exchange rate of say 1.1393 then 0.01 lot will be worth (1,000 units x 1.1393) = $1,139 USD But you don't need to put down this full amount of $1,139 before opening a trade, if you are using a leverage of say 1:400 then you only need to put down ($1,139 /400) = $2.85, to open a trade. Now, $2.85 is the value of 0.01 lot size when you are using 1:400 leverage, so if you convert $2.85 to South African Rand that will give you around 50 Rand.
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can i deposit in any currency into my trading account? Replied 5 months ago - Yes, you can deposit in your local currency and but there is a currency conversion fee for turning it into your account display currency. To avoid this fee, it is better to set your account currency (aka base currency) to be the same with the currency you hope to be depositing in most of the time. For example I am in South Africa so to avoid being charged a conversion fee on deposits & withdrawals I opened by trading account in South African Rand since that's the local currency here.
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is asia session the same as sydney session? Replied 5 months ago - I think Asian session is just a general name for the sessions of Tokyo & Sydney because they start just hours apart.
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what is break even in forex Replied 5 months ago - its a situation where you exit a trade without any profit or loss, so you and the market are even
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What you need to know about forex as a beginner Replied 5 months ago - This is really helpful. Thank you
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what are the 4 sessions in forex? Replied 6 months ago - Farah please shed more light on this "Frankfurt session", I've never heard of it.
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what is a bearish trend in forex, why is it called beaish? Replied 6 months ago - A bearish trend is so called because the candles are usually falling downwards just like when a bear is attacking, standing on its hind legs, and using its paws to strike downwards.
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how do winning traders think? Replied 6 months ago - They get out of losing trades almost immediately, they dont give a loss time to grow. Its the hardest thing to do and even after I have said it here many traders wil still not be able to do it. Its like people freeze when they see losses . So basically, winning traders are comfortable with seeing small losses on their balance sheet, they dont aim to win every trade.
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