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Journal, dont be lazy !!! Replied 1 month ago - Journaling is another important aspect of trading that guarantees profitability. It helps you know what to do properly in your next trade and what to avoid also. The importance of journaling cannot be over emphasized.
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How to install forex robot in MT4 on android Replied 1 month ago - Get the robot file, save the folder on your system, open MT4, go to navigator and select the robot file, let it install, then click on the smiley symbol on your toolbar to enable the robot to start trading.
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trade with sigma trader Replied 8 months ago - You will notice that the London & New York sessions coincide from 2 PM till 5 PM and this is a great time to trade forex pairs that contain the USD and it is also a great time to trade gold (XAU/USD)
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is galileo fx the best forex trading robot? Replied 8 months ago - It works fairly well but this depends on how you configure it. You need to have a good understanding of forex trading in order to configure it properly. Although it comes with over 140 ready made configurations you can choose from, those configurations may not match your risk management so its best you configure it manually.
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If I make millions trading forex, will I have trouble withdrawing it? Replied 9 months ago - Remember that retail brokers have maximum deposit limits (as well as minimum deposits) and i dont think they will allow you deposit so much money that you can make millions in profit. Many of these forex brokers are not even capitalized up to millions of dollars so i doubt they will allow you open and sustain trades that will lead to millions in profits.
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how do I calculate pips on mt5? Replied 9 months ago - Apart from MT5, you can also measure pips on the TradingView charting platform using the "Ruler Tool"
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how do i write text ontop of my metatrader forex chart? Replied 9 months ago - 1. Click on the "T" icon from the toolbar above the metatrader chart, then go back to the chart and click on the space you want to insert the text. 2. Click on "common" then in the "description" box, enter the text you want to be displayed . You can also select the color of the text as well. 3. Click on "parameters" then select the font type, font size, etc. then click on "ok" After following the steps above you will see the text inserted on your Metatrader chart, in this example we inserted the text " Danger Zone". This method is for MT4 and MT5 chart users only.
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why do forex traders use skrill? Replied 9 months ago - Its faster when you are making payment to an international broker that doesnt support your local payment methods
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how do i fund my hfm account with mpesa Replied 10 months ago - You just need to click on deposit, then select either mobile money or iPay then the mpesa funding button will appear. Proceed to input your mpesa phone number and amount then submit.
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can i use ChatGPT for forex trading? Replied 10 months ago - I think chatgpt will only give you an overview of the market but you still have to do the work of analyzing the charts and picking your entry and exit points. Chatgpt cannot do your technical analysis for you it will only tell you the overall markets sentiment. There is no shortcut in trading.
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cTrader or MetaTrader Which Is Best for a Beginner? Replied 10 months ago - cTrader has better features but in the hands of a beginner, cTrader can do more harm than good because it is too complex and is like flying a jet vs flying a conventional plane.
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how do I close all trades at once in mt5 Replied 11 months ago - Thank you for this useful tip, I have been trading for a while now and I didn't know this existed. And I don't think this bulk operation feature exists on mt4 because i tried it on mt4 and it isn't there. I guess this is one of the reasons why mt5 is better than mt4
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how to transfer money from fx royale to bank account Replied 11 months ago - Hello Josiah, I am not sure if you are referring to fx royale trading simulator but if you are, it is just a trading computer game and the funds are not real. You cannot transfer the funds to your personal bank account, any money you make trading on the game is meant to be spent in a virtual world (within the game) buying houses etc. just like in monopoly.
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how to remove trade history on mt5 Replied 11 months ago - Like Daniel said, you can simply right-click and select trade history but if that doesn't work then right-click, select "properties", click on "show" then tick the "show trade history" box.
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Any good forex trading books that are a must-read for traders? Replied 11 months ago - Someone recommended this book: "The Disciplined Trader" by Mark Douglas". Has anyone read it or does anyone know about the author?
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which time frame is best for day trading? Replied 11 months ago - When day trading I use the minute time frames and I also use the TradingView or MT5 platforms because they offer more timeframe options than MT4. Although I focus more on minute timeframes, every once in a while I still glance at the higher timeframes to get a bird's eye view of the market landscape.
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which is the best laptop for trading with expert advisors & coding? Replied 11 months ago - I use a Lenovo IdeaPad PRO 5 which I bought last year so I've only owned it for about 4 months, so far so good I think its a good laptop for trading but its quite pricy around 750 USD. Here is what I love about the laptop: 1. 84 WHR Battery Life - helps me reduce the amount of times I have to charge it, and it lasts about 7 hours on a full charge. 2. Intel Core Ultra 9 Processor (16 cores) - which is more power efficient than the i9, and good for running Artificial Intelligence tasks. 3. 32GB RAM - makes for multitasking and I can open several tabs at once. Because of the 32GB RAM the laptop is faster and it helps when I am coding and back testing. 4. Headphone & Mic Jack - great for content creation 5. Comes with Wind0ws 11 PRO OS - again, great for content creation and video editing 6. Backlit Keyboard - makes coding less boring and helps me not fall asleep at night Here is what I hate about the laptop 14 inch display No USB Type-C port Kind of heavy @ 1.46kg Very pricy No pointer device
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ECN Account Meaning Replied 11 months ago - Great Question Brenda ! ECN is an acronym for Electronic Communication Network and with this account, your broker does not trade against you. When you place your trade, your broker uses the ECN infrastructure such as optic fiber cables with low latency to send your order to liquidity providers who will be the ones to trade against you. The end result is you get lower spread on each transaction. Since brokers do not make a lot of money from spreads charged to ECN accounts, they make up for this by charging a flat commission per trade you make. ECN accounts are ideal for those using trading robots to execute high volume trades because the developers of these robots usually specify that they work with very tight spreads,
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what would be the required margin for 1 lot (100,000) eurusd position if your leverage is 1:100? Replied 11 months ago - Margin is the inverse of leverage so a 1:100 leverage is a 1% margin. If EUR/USD price is 1.0555 then a standard lot will be worth $105,550 and a 1% margin means $1,055.5 to open a trade.
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Buy Stop Meaning in Forex Replied 11 months ago - A Buy Stop order in forex is used to lock in an exact price of an instrument and a Buy Stop order must be placed above the current price. So, if you want to buy when price starts rising, you set a Buy Stop at the price you want, so that when price reaches the order, it is triggered at the exact price. My emphasis is on "exact price". So let us assume you want to buy XAU/USD when the price rises to 2860.0, all you have to do is set the buy stop order at that price. If due to volatility, the price suddenly jumps to 2862.0 without passing through 2860.0, then your buy stop order will not be executed because it works with a specific price. This is the main difference between a buy stop order and a buy limit order. A buy limit order would have been filled at either the exact price or a better price.
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