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what are options in forex? Replied 6 months ago - To add to what @martini said, traditionally options are used when investors are afraid for their investment, hence it is used as a hedge. if you bought Apple stocks today and you hear that in one month the price might go down, you can protect your investment by buying "put options" that give you the right to sell off your Apple stock at the same price you bought them for . If at the end of the month the price of Apple doesn't fall, you don't necessarily have to abide by the contract terms, so you can refuse to sell the Apple stock but you will lose the money (premium) which you paid to buy the options contract in the first place.
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is there a withdrawal fee for forex trading? Replied 6 months ago - Its broker dependent. Out of 100% of brokers, only about 20% of them do charge withdrawal fees as per my findings.
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can i deposit in any currency into my trading account? Replied 6 months ago - Yes, you can deposit in your local currency and but there is a currency conversion fee for turning it into your account display currency. To avoid this fee, it is better to set your account currency (aka base currency) to be the same with the currency you hope to be depositing in most of the time. For example I am in South Africa so to avoid being charged a conversion fee on deposits & withdrawals I opened by trading account in South African Rand since that's the local currency here.
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can you trade in zar on AvaTrade? Replied 6 months ago - Avatrade has zar base currency so yes you can trade in zar.
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What’s the ideal leverage to use in forex to maximize profits without risking too much? Replied 6 months ago - I would say 1:500 is ideal for me.
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which australian brokers have guaranteed stops Replied 6 months ago - Alomost all ASIC regulated brokers have guaranteed stop loss, it seems like the ASIC regulator ensures they do. Pepperstone, Plus500, CMC Markets, IG Markets etc. all have guaranteed stops.
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why are so many beginners trading xauusd? Replied 6 months ago - xauusd prices move faster than most conventional instruments so the beginners must be looking for a higher reward for their risk. While currency pairs like eurusd move around 100 pips in a day, xauusd can ove 200 pips in a day, making it more profitable and more risky at the same time. I think beginners should avoid xauusd till they are sufficiently grounded in risk management and can develop a good strategy for xauusd. When they say 90% of retail forex traders lose money, it is partly because of this kind of high risk trading by beginners who want a quick buck. You might get lucky with xauusd a couple of times but your luck will eventually run out and if you dont know what you are doing you could make big losses and even quit trading.
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how to withdraw from prop firm demo account Replied 6 months ago - Great question @davis ! For normal demo accounts with brokers, you cannot withdraw money because it is simulated. For prop firms they compensate you with a "payout" after you meet some trading milestone to be determined by them. However, the payout from a prop firm is not the consequence of the trades you placed on your demo account, they only pay you that money as a means of encouraging others to use the prop firm. Think abut this: 100 people buy a prop firm challenge and only 5 people receive a payout so clearly they use the money from the 95 people to pay the 5 people. Although the prop firms themselves will argue that when you place a trade on a demo account, they "mirror" the trade and execue it on their own live account hence the profits which they give to you as a payout, but there is not much evidence to backup their claim. So, if you qualify for receiving a payout from a prop fir, you can withdraw it by logging into your client area and clicking on "withdraw" or "request payout". The funds will usually be credited into your account number after some days.
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whats the fastest way to connect exness to mt5? Replied 6 months ago - Get your account login details by logging into your exness personal area, click on "my accounts" then copy the MT5 login (which is your account number) then take note of the server name. Go back to the MT5 platform you downloaded, and use these details to login. If you have forgotten your password, you can also change login password from your personal area.
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is asia session the same as sydney session? Replied 6 months ago - I think Asian session is just a general name for the sessions of Tokyo & Sydney because they start just hours apart.
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what is break even in forex Replied 6 months ago - its a situation where you exit a trade without any profit or loss, so you and the market are even
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What you need to know about forex as a beginner Replied 6 months ago - This is really helpful. Thank you
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what are the 4 sessions in forex? Replied 6 months ago - Farah please shed more light on this "Frankfurt session", I've never heard of it.
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The hard trade is often the right trade, agree? Replied 6 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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its not how much profit you make, but how much you keep Replied 6 months ago - I can relate to what youre saying George! Its the cold truth! Its easy to call yourself a trader but how much of the profit do you really keep gicing it back to the market? It is like running around in cirlces only to find yourself back at the begining. When i started trading XAU/USD i was always making money then losing it back to the market until I said to myself "this has to stop". I began trading responsibly and only taking high quality trades with a high probability of success. I also started cutting my losses very early not giving them time to grow. The solution is to manage risk properly and not lose too much money in one day, so you have enough gun powder to try again the next day.
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what is a bearish trend in forex, why is it called beaish? Replied 6 months ago - A bearish trend is so called because the candles are usually falling downwards just like when a bear is attacking, standing on its hind legs, and using its paws to strike downwards.
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is rcg markets withdrawal instant? Replied 6 months ago - No thet do not accept PayPal. For me i use bank transfer, skrill or e-mola
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Master One Pair & Milk It Replied 6 months ago - I suggest eur/usd pair for beginner traders because it is not too volatile and there is a lot of information on it online for free.
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one impulsive trade can wipe out weeks of profit Replied 6 months ago - The urge to trade at random is one of the biggest undoing of losing forex traders. The urge can be overwhelming if not properly managed. You see, trading drains you mentally so you should not trade several times in a day, if not the tendency to make a mistake becomes higher. One mistake can wipe out all your gains. Some people trade only in the mornings, some only in the afternoon, some only at night. You must have specific trading hours, you cant be looking at charts the whole day. To help manage the urge of randomly trading, use a demo account if you must test strategies and close your system and take a walk or engage in other activity once you feel the need to engage in a random trade.
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do XM withdrawals take longer than necessary? Replied 6 months ago - Their local bank withdrawal method is the fastest, as it is treated instantly. I once deposited & withdrew using my ATM card and i experienced delays (up to 3 days) in withdrawing so i suggest you only use local bank or even skrill.
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