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Japanese boat jump risk management technique Replied 1 month ago - This is good risk management @tony and I think it relates to the advise that it is better to wait for a river to flow before joining it. So many times as traders, we take unnecessary risk holdng on to uncertain trades when we could just exit for a small loss, and get back in when the trend resumes.
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how do i know if i am getting better at forex trading? Replied 1 month ago - 1. You start looking for more advanced trading platforms When I started trading, I was content with using MT4 to trade but as I got better I began to desire more features causing me to download MT5 and then as I got better I upgraded to TradingView and finally settled for the advanced cTrader platform. 2. You start looking for low spread brokers I started trading with HF Markets and initially I didnt notice how high the spread on their premium account was (up to 1.6 pips on EUR/USD). However as I got better, I realized the high spread was affecting where I could place my stop loss, I kept getting stopped out easily. Because of this, as I got better I asked my mentor to recommend a low cost broker and thats how I switched to Trade Nation where I got 0.6 pips on EUR/USD. 3. You spend less time in front of the charts When i started trading, I was always in front of the charts taing every trade i saw. However as I got better, I began creating trading rues such as specific trading hours, daily loss limits etc. These rules helped me trade less frequently for example once my daily loss limit was reached I stopped trading for that day. 4. You develop a trading strategy (and stick to it religously) As a beginner, I didnt have a trading strategy so I was always trying out different stuff every day. As I got better, I researched and found a strategy that worked on EUR/USD, GBP/USD, and US30; and I stuck to it without deviating. Everyday, I traded the same strategy irrespective of the outcome (profit/loss) 5. You accept losses as gifts In every loss there is a lesson, so as i got better in trading I stop being angry at myself after a loss. Instead, I look inward for the lesson to be learnt from that loss and how not to repeat the same mistake twice. 6. You set your stop loss where it needs to be (not where you are comfortable with) When I started trading, I used to set very tight stop losses because of the fear of losing. Because of this I was always getting stopped out over and over again. With time, I learnt that a stop loss needs to be set at the most appropriate distance from entry even if it means risking a higher amount than I was comfortable with.
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How much do forex traders make a month in South Africa? Replied 1 month ago - There’s no straight forward answer to this question. The amount a trader makes is dependent on the trader. It involves the amount of money risked and the target of the trade. It also depends on the amount of trade taken in a month. It all just depends on the trader sincerely.
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When is The Best Time To Trade Nasdaq (NAS100) in Nigeria? Replied 1 month ago - Let me add that you cannot trade NAS100 on some U.S. public holidays because the exchange will be closed for business.See attached list of Nasdaq stock exchange holidays for the financial year 2026.
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does the forex market open during eid muslim holidays? Replied 1 month ago - Yes , the market is open during Eid Muslim holiday. Pls be aware that the market is open Monday to Friday, closes Friday night.
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High minimum withdrawal with brokers: how to bypass it Replied 1 month ago - The brokers have found out this loop hole so they now check where you are resident. For instance if the broker sees you are resident in Nigeria and you open a ZAR account, they will increase the minimum deposit. A good example is the broker Trade Nation that has been discussed here, their minimum deposit for South African residents is 50 ZAR but if a Nigerian opens a ZAR account they immediately increase the minimum deposit to 500 ZAR
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MT4 vs MT5 who is the winner? Replied 1 month ago - MT5 is better because it is an updated version of MT4 and it corrects all the short comings of MT4
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should i use my discretion when trading? Replied 1 month ago - Using discretion is taking risk, during my training my trainer strongly advised that i use strategies and stay by it.
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in search for the perfect broker Replied 1 month ago - It's really hard finding a broker that ticks all my boxes, they always have one shortcoming or the other. I am still searching
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What do you wish you knew before you started forex trading? Replied 1 month ago - I wish i actually knew forex trading wasn’t a get rich quick scheme like I experienced in cryptocurrency. I started trading cryptocurrency and made a lot of money in a year, I was trading memes though. Then I graduated into trading forex, i thought i would be withdrawing consistently like I did in trading memes but I was wrong. For anyone reading, forex trading isn’t a get rich quick scheme, it will take you time to be profitable. The time it will take is totally dependent on the individual.
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is it good to keep shifting my stop loss as price nears it? Replied 1 month ago - 👍
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why is the asian session bad for trading forex? Replied 1 month ago - The Asian session is mainly dominated by comoanies doing business in/with China, Japan, Australia, etc. During the Asian session what goes on is mainly a bidding process so price action can be unpredictable. However, after the Asian session ends, you can mark it out on your chat and use its highest and lowest points as a reference to trade the London session.
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which currency pair is most profitable in forex? Replied 1 month ago - I guess the relevant question to be asked is "which currency pair is the least volatile" because when a pair is not too volatile, your risk is lower leading to a chance for more winning trades. So I think EUR/USD is the least volatile pair to trade and another good thing with it is that it has the lowest spreads of any currency pair and the liquidity is high since market makers always use eur/usd options to hedge their fx exposure.
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win rate or risk to reward; which is more important? Replied 1 month ago - Risk to reward is superior to win rate. For example, you executed 10trades and you won three out of the ten with risk to reward ratio of 3. Your win trades will be at 9rr . Remember you lost 7trades, that’s 7rr . Overall, you are still profitable with a 2rr. Hence, risk to reward is better than win rate.
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what do gaps on my forex chart mean? Replied 1 month ago - A gap is an area on the chart where the price of a currency pair moves sharply up or down with little or no trading in between. As a result, the bar or candlestick shows a gap in the normal price pattern.
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what are synthetic indices? Replied 1 month ago - You are welcome, always here to help.
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how do I know when i am gambling during trading? Replied 1 month ago - When you dont have specific/objective entry and exit parameters, you will definitely be gambling because anything goes for you. You will chase every trade and expose yourself to unnecessary risk.
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can i trade binary options in the uk Replied 1 month ago - You cannot trade binary options in the Uk. It’s been banned since 2019.
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what is power hour in trading? Replied 1 month ago - Power hour refers to the most active and volatile time in the market when price movements are usually the strongest. It’s when trading volume spikes, meaning more buyers and sellers are in the market . This happens when two forex session overlap .
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what is considered a whale in crypto? Replied 1 month ago - A crypto whale is an entity or individual holding significant amount of cryptocurrency enough to affect liquidity and move prices. For example, if someone holds 10,000 Btc and decides to sell all, the price of bitcoin will sharply drop. That individual is a whale.
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