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why do you need $25,000 for day trading in the US? Replied 5 months ago - They don't want you to trade, the US authorities prefer people go into investing rather than trading.
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what is the meaning of "spreads from 1.2 pips" ? Replied 5 months ago - Spreads from 1.2 pips is kind of on the high side, find a broker that charges lower spread.
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my current trade is in profit, do i open more positions? Replied 5 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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what is a guaranteed stop loss, when should i use it? Replied 5 months ago - I use guaranteed stops when i am worried that price slippage may occur. My current broker (Trade Nation) allows me set guaranteed stops and its not even that expensive.
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can i open a buy & sell trade on same instrument simultaneously? Replied 5 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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why is the spread so high at night Replied 5 months ago - Because at night there are not many people trading so the broker widens the spread as a way of discouraging you from trading.
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Basic Concepts Every Beginner Should Understand Before Trading Forex Replied 5 months ago - I would say understanding how to think in probabilities is essential. Beginners need to understand that there's always a probability that a trade will fail. So, with that in mind beginners should be ready to accept a loss without letting it affect their emotions towards the next trade.
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how many trades should you do a day forex? Replied 5 months ago - I avoid trading excessively, i place two trades per session. So, during the London session I place only 2 trades. I also reduce the lot size on every trade so If for the first trade I used 0.5 lot size, on the second one I will use 0.1 lot size, third one will be 0.05 lot size etc. By doing this I lower my risk on every subsequent trade I take.
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since deposit bonus is not withdrawable, then what's the point? Replied 5 months ago - It adds to your account equity, so that you can set a wider stop loss on trades than you would have without a deposit bonus.
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How Can I Start Forex Trading in Kenya as a Novice? Replied 5 months ago - I started by downloading a forex trading app to my phone, then I started fidgeting with it. I opened a demo account (which contains fake money) and began to place random buy/sell trades. From there, I got more curious and started watching YouTube videos on trading. I noticed they were using industry vocabulary such as spread, stop loss, position, lot, margin, etc. so i googled the meaning of those terms online. I then went back to my forex app and kept practicing on how to place orders and set stop loss. I didn't that for some weeks before I opened a real trading account and deposited $20. I started trading with real cash and I lost all the money. I went back to the drawing board to find out why I lost those trades. I watched more trading videos on YouTube, and joined an online forex trading community. I funded my account again and kept trading till i started getting profitable. So, if you want to start forex trading in Kenya i suggest you do the same.
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what is the difference between a forex trader & a gambler? Replied 5 months ago - Honestly, I think it comes down to having a plan. A trader works with strategy, risk management, and actual data, while a gambler usually just bets and hopes for the best. I learned that fast after blowing a small account just pressing buy/sell on gut feeling. Since then, I've stuck with setups and tested stuff out on platforms I trust. Been checking https://axiomtrade.xyz/axiom-trade/ lately too—looked into it with a few friends and so far, looks pretty solid if you’re careful and do your research.
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who is the richest forex trader in Nigeria? Replied 5 months ago - To answer your question, no one really knows. Nobody can tell who is the richest Forex trader in Nigeria. Because that may jeopardize them or their family or they just don't care about show casing their life. I imagine it like this If you were making money trading. You wouldn't be wasting your time for 60 dollar a month teaching someone to trade. Anyone can spot a fake if they try hard enough. You barely see habbyfx trading. All you see him doing is showing off his watches and cars.He is either out in the mall buying stuff or in his pool like a merman, When does he trade??? Also if you are so good why not show case your income tax returns, surely that can prove everyone wrong. His live trading sessions are just him sitting in front of tradingview chart making random calls out of his ass. His chosen broker that is supposedly paying millions to him, is neither regulated nor known.If i was trading with that broker and had a million bucks deposited with them, i would be worried but he doesn't care.. Now go figure.
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What is the minimum withdrawal at Deriv? Replied 5 months ago - I think the minimum you can withdraw in deriv is $10 USD
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how much can i make from trading nfp? Replied 5 months ago - It depends on the instrument you are trading and the lot size too. For last month's NFP, if you had traded a 0.1 lot size of eurusd, you would have made at least $116 or 116 pips.
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My experience with XM broker Replied 5 months ago - I doubt it is the bank that cancelled your xm deposit, maybe they are stylishly trying to make you deposit a higher amount using another deposit method like the $30 minimum deposit via bank transfer 🤣
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How much is R100 in bitcoin in South Africa Replied 5 months ago - Yes, you can purchase BTC with a R100, or even lower, It’s really your choice. 1BTC is over R2,000,000 at the moment, this means a R100 won’t do much for you with BTC at its peak threshold, I therefore advise you purchase other coins with high future potentials or wait to purchase BTC when the market is at its lowest. You can look up the BTC fear and greed index to know when to buy & when to sell BTC.
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how to buy crypto in south africa Replied 5 months ago - Step 5: Buy Cryptocurrency Assets After a successful deposit into your account, you can then buy digital assets by converting your USDT into whatever asset you want, or you can simply go through your trading platform’s marketplace, and pick a Cryptocurrency asset you want to buy, you will find hundreds of options available. You will also find that they are quite different order types to choose from, they include: 1. Limit Order You get to buy at any price you set for the order to be executed. 2. Stop-Limit Order This order is executed when the market price reaches a certain point. 3. Market Order This executes your order at the current market price. Furthermore, you should note that you can either hold digital asset as a form of a long term investment or you can buy/sell them on the Futures perpetual & quarterly contracts on a trading platform you choose to use as a day trader. After Buying Cryptocurrencies you can save them on platforms like Trust Wallet, Metamask, etc, these platforms do not support trading, but they serve as banks for digital assets. Meanwhile other platforms like Binance offers a built-in wallet to hold assets and also offers futures trading where you trade with leverage to increase potential gain. Keep in mind that leverage increases potential losses too. Consider each step carefully before buying Cryptocurrency, as earlier mentioned Cryptocurrency carries significant risks, market volatility & potential losses.
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How do I know if my broker is A-Book or B- Book? Replied 5 months ago - B- book brokers always offer several account types while A-book brokers offer just a standard and raw account
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How long does it take to learn forex trading Replied 6 months ago - It took me a year to learn and 2 years after I am still not profitable.
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what is A-Book and B-Book Broker in forex? Replied 6 months ago - A-book brokers don't make the market instead they push your order straight to the liquidity provider in exchange for a commission. This is why A-book brokers charge near-zero spreads plus commission. The advantage of A-book brokers is more transparency and faster execution. B-book brokers take the opposite side of your order and trade against you. The advantage of B-book is that you can use things like micro/cent account to execute small orders. Small orders are executed faster with B-book brokers bit they charge a wider spread.
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