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how do you manage to stay disciplined as a trader? Replied 5 months ago - I wait till i see the setup I'm looking for before i trade. If i don't see the setup, then i don't trade at all. No position is still a position, I may not make money that day, but at least i will not lose money.
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What Is A Prop Firm in Forex? Replied 5 months ago - For me, I dont really rate prop firms at all because they dont give you real money to trade with. I am of the school of thought that prop firms are like ponzi schemes that use money gotten from those who pay for challenges to pay those who actually pass the challenges. And of course, those who fail will be more than those who pass, so it is good business for them. That is why you see so many prop firms springing up every day. By the time governments start regulating prop firms, you will see that their number will reduce as many of them will close shop.
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What is Exness Minimum Deposit in ZAR and do I get any bonus on my deposits? Replied 5 months ago - Exness minimum deposit in zar depends on the current usdzar exchange rate. The Exness minimum deposit is usually $10 so when you convert to zar at today's usdzar rate of 17.82 zar to 1 usd, then the Exness minimum deposit as at today becomes 178.2 ZAR. Also note that if your Exness account currency is not set to zar, then you will be charged a currency conversion fee to convert your zar deposit into whatever your account currency is. Exness may not show you what the currency conversion fee is, as they just include it into the usdzar rate.
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is the heatwave in Europe going to affect financial markets? Replied 5 months ago - The heatwave in Europe is expected to end in a few weeks so I don't think it will do much damage to the economy of the affected countries. However, like Paul said, commodity prices will certainly rise.
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gold vs dollar: what is the price relationship? Replied 5 months ago - Gold is a dumb metal meaning it doesn't pay interest so if the us dollar is strong people will rather invest in the dollar so they can earn interest, and this causes gold prices to fall when people move their investments from gold to the us dollar.
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does foreign direct investment affect exchange rate? Replied 5 months ago - Sure, it does because for foreigners to invest in a country they have to convert their currency to that of that country. This means a higher demand for the local currency thus causing it to become stronger, This is why i always listen to news to be aware of government policy changes before trading a currency. Imagine that the US government enacts a policy to ban foreigners from owning homes in America, such a policy will weaken the US Dollar because it will reduce demand for the dollar.
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what is the difference between btcusd and btcusdt Replied 5 months ago - How about a little breakdown to make it more comprehensive and relatable. USDT (Tether) is a stable coin that represents the value of BTC (bitcoin). USDT holds a stable value relative to the US dollar. This pair gives a little advantage against market fluctuations, since it can be traded without assets being converted to fiat a currency. Meanwhile, the pair BTCUSD represents the value of bitcoin in the US dollar, indicating the current price of BTC in fiat currency. This pair is used to buy or sell BTC using the actual US dollar currency. In my opinion BTCUSD is more volatile due to fluctuations in the dollar market. Meanwhile BTCUSDT is a little less volatile due to the stable coin in the pair.
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anyone used xmaster formula forex indicator? Replied 5 months ago - Please how do i build a custom script for trading, I am looking for a script that can blot out other sessions and show me only the London session using a 5-minute timeframe, can you recommend any programmers?
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what is the polish currency, can i trade it in forex? Replied 5 months ago - The official Polish currency is called the "Zloty" and has the symbol "PLN". Poland does not use the Euro currency for transactions, even though they have been a member of the European Union since 2004. As at today, 1 PLN is worth 0.28 USD. Forex brokers allow you trade Polish currency pairs such as the USD/PLN, AUD/PLN. CHF/PLN, GBP/PLN, PLN/JPY on their trading platforms. Some forex brokers even offer trading account display currencies in PLN, so that as you trade you see your transactions displayed in PLN. Trading with a PLN account also reduces the currency conversion fees you pay when trading PLN pairs
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how do higher gas prices affect USD/CAD Replied 5 months ago - Higher gas prices will cause the USD/CAD exchange rate to drop because the U.S. consumes a lot of gas from Canada which they must pay for by converting the USD to CAD thus increasing demand for CAD and making it stronger. When the USD/CAD rate drops, it will cost less CAD to buy one USD, in other words the CAD has strengthened over the USD.
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when gold prices fall does it affect audusd sentiment? Replied 5 months ago - Australia is one of the largest producers and exporters of gold on the planet. They generate most of their revenue by selling gold so yeah, when gold prices rise, the Australian dollar becomes stronger and audusd sentiment shifts to bullish because it will then cost more USD to buy one AUD. However, when gold prices fall, audusd sentiment shifts to bearish because aud becomes weaker and it will cost less USD to buy one AUD.
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how does UK retail sales report affect gbp/usd pair? Replied 5 months ago - If the UK retail sales data shows that there has been an increase in sales, then the UK government is obviously going to earn more in Value Added Tax (VAT). When the UK earns more money from internally generated revenue such as VAT, it does not have to borrow or print more money & this reduces UK inflation. A reduced inflation leads to a stronger British Pound, just as fewer borrowing means no need to buy foreign currency to settle external debt (this also makes the Pound strong) In summary an increase in retail sales in the UK will make the GBP/USD exchange rate to rise so it will cost more USD to buy one GBP.
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which eurchf news can affect its price? Replied 5 months ago - News of Trade Wars between the United States & China have caused Swiss Franc to appreciate against other currencies in the past. When US & China were in a trade war, investors ran to the Swiss Franc for safety, and this caused the Swiss Franc to strengthen against the Euro; so, the EUR/CHF exchange rate fell to record lows.
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what factors affect natural gas prices in the uk Replied 5 months ago - When wind speeds in the North Atlantic Ocean reduce, wind turbines & other renewable energy sources which use wind as a source of power are unable to work at full capacity. This means UK & EU residents will have to rely more on natural gas for heat during the winter, thus increasing its demand & driving up the price.
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who determines the price of oil globally? Replied 5 months ago - Organization of the Petroleum Exporting Countries (OPEC) are the ones that ultimately determine the price of oil. When they want to increase oil prices, they simply ask all OPEC member states to cut production, thus reducing supply and increasing demand.
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if a New Zealand milk exporter increases its payout to dairy farmers will NZD/USD appreciate? Replied 5 months ago - Fonterra is a really big dairy exporter in New Zealand & they account for about 25% of all exports leaving New Zealand. So, if they indeed increase payout to dairy farms then investors will take it as a sign that the New Zealand economy is growing, and they will invest more in the New Zealand Dollar causing it to appreciate. So, short answer is yes, if Fonterra increases payment to farmers, then the NZD/USD exchange rate will rise meaning it will cost more USD to buy 1 NZD
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gravestone doji: what do i do after i see one? Replied 5 months ago - If i see a gravestone doji in an upward trending market, i will prepare to sell but i will wait for a bearish confirmation candle to form after the doji before i enter.
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which U.S. public holidays affect banks & stock exchanges Replied 5 months ago - Today is a major holiday in the U.S. as they celebrate their independence. I am not going to trade the new york session because there will be poor liquidity and stop losses will be hit easily as the market tries to look for liquidity from clients
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is crypto haram? Replied 5 months ago - Because there is not much transparency when it comes to crypto and so many scammers utilize crypto as a means of moving funds and making it difficult to trace, most scholars will say crypto is haram. Crypto is a new phenomenon so whether it is haram or halal will depend on interpretation of scholars.
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any dangers of trading nfp using pending orders? Replied 5 months ago - Some brokers will not even execute the pending order at all, and there's nothing you can do about it, they will just give you an excuse. Another risk of using pending orders to trade nfp is the "whipsaw effect" where price reverses course quickly thus stopping you out immediately.
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