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what is leverage in forex trading? Replied 1 month ago - How Leverage Works (Step-by-Step Explanation) 1️⃣ You put in a small amount of money Example: You deposit $100. 2️⃣ The broker gives you borrowing power If your broker offers 1:100 leverage, this means: For every $1 you have, You can control $100 in the market. 3️⃣ You can now trade bigger Your $100 can control $10,000 worth of currency. This does NOT mean the broker gives you cash. It simply means your trading power is multiplied.
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what's the meaning of no deposit bonus in forex Replied 1 month ago - You can withdraw profit made from this account but you cannot withdraw the profit made on a demo account. I'm sure you get the difference now.
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when do you use limit and stop order in forex trading? Replied 1 month ago - 2. When to Use a STOP Order A stop order is used when you want to enter only if price continues in the same direction. ⭐ You use a STOP order when you expect price to break out and keep moving. 📌 Buy Stop Example Price is at 1.2050 and you think if it breaks 1.2100 it will go higher. → You place a Buy Stop at 1.2100. This tells your broker: “If price rises to 1.2100, buy for me (breakout).” 📌 Sell Stop Example Price is at 1.2050 and you think if it breaks 1.2000 it will fall harder. → You place a Sell Stop at 1.2000. This tells your broker: “If price drops to 1.2000, sell for me (breakdown).” ✔️ Best for: Breakouts Trend continuation trades Momentum strategies Entering only when your level is confirmed
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What does a Buy Limit order mean to a forex trader? Replied 1 month ago - A buy limit ( aka buy stop limit) is a pending order you set when you want to buy when price is falling. It is different from a regular buy stop order so dont confuse the two. A buy stop order means buy when the price drops to my desired price but if for some reason price gaps/jumps over my specified price, dont buy at a lower price. This is kind of limiting right? A buy stop limit means buy when price drops to my specified price but if price gaps over my soecified price, still go ahead and fill my order in at the next lower available price than what I specified. I dont think MetaTrader has the buy stop limit (they only have the buy stop) but I use cTrader and I have attached a screenshot from cTrader showing you their buy stop limit, which is vry cool.
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How to fund forex account Replied 1 month ago - Open a Verified Trading Account Before funding, a forex broker normally requires: Your name and contact details Proof of identity (ID/passport) Proof of address Age confirmation (must be an adult for real accounts) ✅ 2. Choose a Funding Method Most brokers offer several funding options, such as: Common Methods: Bank transfer Debit/credit card Mobile money (in some countries) E-wallets like Skrill or PayPal (depending on broker) Each method has: Processing times Possible fees Minimum deposit amounts ✅ 3. Go to the Broker’s Deposit Section Inside your trading dashboard, you’ll find a button like: "Deposit" "Fund Account" "Add Funds" From here: Select your account type (e.g., Standard, Raw Spread) Choose a currency (usually USD) Select your payment method ✅ 4. Enter the Amount You type in how much you want to deposit. Most brokers have a minimum deposit like: $5 $10 $50 (varies) Make sure you deposit only money you can afford to lose. Forex carries real financial risk. ✅ 5. Confirm the Payment You’ll be redirected to a secure payment page to approve the transaction. Once approved: Cards/e-wallets: Usually instant Bank transfer: 1–3 days Mobile money: Often instant
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are forex signals on telegram really profitable? Replied 1 month ago - Signals are not bad but how can you be sure the person giving you the signal knows what he is doing? Many of these signal providers have partnership deals with brokers where they earn commissions when they refer you to trade with these brokers. This conflict of interest can make the signal provider send you a high risk signal because they want you to trade a bigger lot size so they get a bigger commission. I dont do signals but if i must subscribe to signals I will ensure the person giving me the signals is not benefitting indirectly from my trades. There should be no conflict of interest. Ask yourself this: did your signal provider ask you to register with a particular broker? if your answer is yes then run.
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Is copy trading the same thing as social trading? Replied 2 months ago - Wow, this is totally a great development. It will bring a level of sanity in the industry.
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which samsung phone is best for forex trading? Replied 2 months ago - I checked on Jumia and saw some cheap used samsung note 8 pgones (with s-pen) going for around NGN 225,000 ( around 160 USD) which is affordable.
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opening my new forex account, what base currency should i choose USD, EUR, GBP or Local? Replied 2 months ago - I prefer using my local currency, it saves me the stress of conversion.
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can a forex trading account function as a savings account? Replied 2 months ago - Some brokers can even close your account and give you excuses as to the whereabouts of your funds. Especially poorly regulated brokers
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How to install forex robot in MT4 on android Replied 2 months 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 9 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 10 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 10 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 10 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 11 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 11 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 11 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 1 year 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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how do I close all trades at once in mt5 Replied 1 year 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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