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What Time Does The Forex Market Open in South Africa? Replied 3 months 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 months 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 months 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 months 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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does anyone have inspiring forex success stories to share? Replied 3 months 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 months 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 months 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 months 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 months 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 months 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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what's the difference between trading & investing Replied 3 months ago - Investing = Long-term ownership. Slow, steady, fundamental-based growth. Trading = Short-term speculation. Fast, volatile, price-based decisions.
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How do prop firms make money, is it from selling challenges? Replied 3 months ago - Prop (proprietary) trading firms are companies that give traders access to their capital. In return, the trader shares a portion of any profits made. But the way prop firms earn money goes far beyond this. Evaluation / Challenge Fees (Their Biggest Income Source) Most modern online prop firms use a “challenge model.” This means traders must pass one or two evaluation phases before they can access a funded account. Traders pay a fee for the evaluation. If they fail the challenge, the firm keeps the fee. Many traders don’t pass because of strict rules or lack of experience. This alone makes up the majority of a prop firm’s revenue. That's because thousands of traders buy challenges every month, and most of them don’t reach the funded stage.
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Can I start trading with $100 Replied 3 months ago - Yes, a beginner can start trading with $100, but the main goal should be learning, not making big profits. A small amount is actually good for beginners because it teaches discipline and reduces risk. You must use very small position sizes and understand that losses can happen quickly. I am not really in support of leverage for a beginner.
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GREED Replied 4 months ago - The market is like shark infested water, you get in and get out. That does not mean you should not allow your winners to run but you should open many trades, close some with profit after about 15 pips, then allow the rest to run. This means you should always add to your winners. Many traders only open one trade and they intend to leave it open till it reaches the TP which is risky. Since Trump came into power we began to have more trending days where the market sails in one direction but such does not last. The reality is most times the market will be zig zag not remaining in on one course for more than 20 pips.
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why am i losing so many trades in a row? Replied 4 months ago - A lot of traders experience multiple consecutive losses which is common in trading with reasons like unpredictable market conditions, mismatched strategies, impulsive trading, psychological factors like fear or greed, and inadequate risk management. To improve - review and refine your strategy - apply strict risk controls - stay disciplined - manage emotions through patience and journaling - set realistic expectations and take breaks when needed. sticking to this plan and checklist you can watch out for better improvement in a short period of time
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Overtrading doesn’t come from strategy problems. Replied 4 months ago - Overtrading occurs when traders make excessive trades fueled by emotions like greed or frustration, risking and burnout. To prevent this, traders need - strong psychology - discipline - emotional control and mental resilience all of this to make better decisions and follow their plans.
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What do you do when you have a bad trading week or month? Replied 4 months ago - Unprofitable pls
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Which is the best forex academy in Lagos? Replied 4 months ago - I will advise you don’t really focus on a physical academy, find someone that has a proven track record in the industry and learn from him or her. If he or she can meet with you physically, that’s a great idea.
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what is scalping in forex Replied 4 months ago - Scalping is a trading style where a trader makes profit when his or her trades goes into little profit . 5-10pips move are okay for a scalper.
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which is the worst month to trade forex? Replied 4 months ago - January 🤣🤣🤣🤣🤣, i didn’t like this January price action at all
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