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How to trade NFP in forex Replied 1 month ago - Splendid!
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what is meant by price action trading in forex Replied 2 months ago - Price action is not really about cndestick patterns, to me it is about understanding the seasonal behaviour of the markets. For example how does the forex market behave at the begining of the year? how does the forex market behave at the end of the year? which month is the most volatile in the forex market? price action aims to answer such questions.
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what is basket trading? Replied 2 months ago - I suppose basket trading is simultaneously opening several trades on several asset classes with the aim of hedhing risk
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orokpo1 Replied 2 months ago - todays trade. i am still under training, your advice will well appreciated. i did not enter on time on my second trade and it affected my stop loss.
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Is Futures Trading Hard? Replied 2 months ago - Futures are not for the average trader, they are for extremely experienced traders with vast investing background. Every futures contract is marked-to-market when you leave it open overnight and this is just not chargin swaps like in CFD trading. When the broker marks your futures contract to market at the end of each day, the closing price (difference) of the underlying asset whose futures you bought will be deducted from or added to your account balance. Calculating the value of a futures contract is also a bit more complex than finding pip valu in CFD trading. Futures move with ticks abd each tick has a dollar value stated in the contract and the value can be big.
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Swing Trading vs Day Trading Replied 3 months ago - Day trading is most popular and more profitable for me because the longer you leave a trade open, the higher the odds that price can move against you
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How to avoid swap fees forex Replied 4 months ago - Swap free accounts are the solution and if you do prop firms, look for a prop firm that doesnt charge swaps, there are some like FTMO
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TRADES Replied 3 months ago - Nice one amos, i also took the franky reversal long trade. here is a screenshot of possible trade entries (in yellow circles) I would have taken.
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what's the best music to listen to while trading forex? Replied 3 months ago - I like listening to songs that encourage me to be careful and not take silly risks. "Another Day in Paradise" by Phil Collins is one of my favorites.
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what is paul tudor jones net worth, what is his trading strategy? Replied 4 months ago - His hedge fund, Tudor Capital; manages assets worth upwards of $4 billion. His trading strategy today is a secret they do not really divulge details. But if you check his hedge fund's website you will see the assets they invest in.
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what is hfx trading, how much to get started? Replied 6 months ago - hfx trading is just another hoax like ICT & order Block, don't fall for it. There is no need to overcomplicate trading by trying every new thing you hear of. Basically, hfx trading is just trading lower time frames actively and racking up small profits but it's not practical in reality.
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is copy trading risky? Replied 6 months ago - @ozgal I wouldn't take recommendations from anyone here. You can check for yourself but copy trading is at your own risk. If the person you are copying sustains losses there's nothing you can do about it, no refunds!!! I always prefer to trade by myself and hold myself accountable.
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my current trade is in profit, do i open more positions? Replied 6 months ago - I try to maintain a margin level of at least 400%, so for me if opening additional trades will not deplete my margin level I will do so.
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can i open a buy & sell trade on same instrument simultaneously? Replied 6 months ago - Yes, but it is mainly a risk management procedure meant to reduce the losses you are already sustaining on a current trade. It is a strategy used for lowering losses and not for making profit.
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how does after hours trading work? Replied 8 months ago - I guess it depends on what you are trading. For stocks, the exchanges close around 4 pm so any stocks you trade after that are done during aftermarket hours. Not all stockbrokers may support aftermarket hours trading & the ones who do may charge higher fees. Not every order may be filled during aftermarket hours as some brokers only permit pending orders so that if they can fill it they do and if they cannot fill it, they leave it unfilled. For forex, aftermarket trading is when you trade outside the 4 major sessions (Sydney, Tokyo, London, New York). For example, in-between the Asian and the London session, there is a 2-hour gap which some call the Frankfurt session or the Pre-London session. If you trade during this time, it could be considered aftermarket hours trading. People who participate in aftermarket hours trading are the ones who are busy during the market hours, perhaps they have day jobs that don't allow them to trade when others are trading.
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what is a carry trade in forex? Replied 8 months ago - Let me add to what @randolf has said. If you do not carry a trade properly you won't earn any interest, in fact you will be debited for the interest rate differential instead. Whether you earn overnight interest on a carry trade depends on if you are buying or selling the currency pair. In @randolf's example, USD/ZAR interest rate is 4.5% vs 7.25% so to earn interest you must sell the USD/ZAR pair and leave the trade open overnight. If you go ahead and buy USD/ZAR overnight, you will be debited instead because you are borrowing ZAR to buy USD, meaning you are borrowing ZAR with higher interest to buy USD with lower interest.
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what is smc trading strategy Replied 8 months ago - Retail traders only make up about 5% of the forex market so the remaining 95% is controlled by institutional traders like banks & multinationals. The SMC strategy seeks to pinpoint when these institutional traders will be placing their orders, so that you can take advantage of the momentum it will generate. Some people claim to look out for unusual market structure on the charts (which they call order blocks) and attribute it to the activities of institutional traders. However, SMC trading strategy has its drawbacks because most institutional traders execute their large orders secretly in something called "dark pools" so as not to spook the market. For me i just focus on understanding pure price action and try not to dive too deep into SMC because it is a really murky trading concept.
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what is the hallmark of a good trading strategy? Replied 8 months ago - A good trading strategy is like a drug, it must be very specific and should work only under specific conditions and only on specific instruments. it shouldn't be a one size fits all kind of strategy. A good strategy should leave nothing to chance, every detail such as timeframe, trading session, entry/exit point, etc. must be spelt out.
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what is the 5 3 1 rule in forex? Replied 8 months ago - Nice one, I didn't know about this 5 3 1 rule.
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The hard trade is often the right trade, agree? Replied 8 months ago - The human brain is wired to avoid risk and play it safe, so yes, the difficult decisions are usually the most profitable even in trading.
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