Forex Forum

EUR/USD Daily Closing Price (London Session)

I will waiting for your update on this

How to get a Forex Trading License in South Africa

To get a forex trading license in South Africa, you need to apply for a Category I Financial Services Provider (FSP) licence from the FSCA (Financial Sector Conduct Authority). Key steps: - Register a company with CIPC (local office required). - Appoint a Key Individual and Compliance Officer who pass regulatory exams and "Fit and Proper" requirements. - Prepare business plan, policies, proof of capital, professional indemnity insurance, and other documents. - Submit the application online via the FSCA portal. Approval usually takes 4–9 months (sometimes up to 12 months), depending on how complete your application is. Suggestion: Strongly consider hiring a compliance consultant or lawyer experienced with FSCA applications to avoid delays and rejections. Check the official FSCA website for the latest forms and requirements.

how do i draw gann fan in forex?

Gann Fan basics: It’s a set of diagonal lines (angles) drawn from a major swing high or low. They show potential support and resistance based on the relationship between price and time. The key line is the 1x1 (45° angle) — balanced market. - Price above 1x1 = bullish strength - Price below 1x1 = bearish Other lines: 1x2, 1x4, 1x8 (shallower) and 2x1, 4x1, 8x1 (steeper). How to draw it on TradingView: 1. Select the Gann Fan tool from the drawing toolbar. 2. Click on a significant swing low (for uptrend) or swing high (for downtrend). 3. Drag to set the 1x1 line at roughly 45° (or let the tool auto-draw the fan). Tip: Use it together with horizontal support/resistance or moving averages for better confirmation. Simple but requires practice, test on historical charts first.

My EUR/USD Asian Session Trading Strategy

My suggestions: Focus on range trading or mean reversion, the session is usually low-volatility and range-bound for this pair. Use tight stops due to possible fakeouts and wider spreads. Look for setups in the first 1-2 hours after Tokyo open (around 00:00-02:00 GMT).

Anyone have a trading journal template I can use?

Core columns (one row per trade): - Date & Time - Instrument (e.g. DAX, EURUSD) - Direction (Long/Short) - Entry Price - Exit Price - Position Size / Risk % - P&L ($ or %) - Reason for Entry - Outcome (Win/Loss/BE) - Lesson / Notes (what went right or wrong) Keep it minimal at first, add screenshots of charts in a separate column or folder. Review weekly: win rate, average win/loss, and common mistakes. Many free ready-made templates exist on Google Sheets/Excel if you prefer to download and customize. Start simple and stay consistent.

This is how I enabled one-click trading on MT5

Quick additions for better one-click trading on MT5: - After enabling in Tools > Options > Trade tab, right-click on your chart and select “One Click Trading” to show the panel directly on the chart. - Always double-check your lot size before clicking — one-click has no confirmation. - Use it mainly on liquid pairs like DAX or majors to avoid slippage.

DE40 (GER40) trading strategy

Solid overview of the DAX/GER40. Focus on the first 2–3 hours after Frankfurt open (8:00–11:00 CET) for best volume and moves. Use 15-min chart with EMA 9 + EMA 21 for trend direction and pullback entries. Respect daily pivot points or previous day high/low as key support/resistance. Keep risk at 0.5–1% per trade with a tight stop. Simple and effective.

Which is the Best Forex Broker in South Africa?

Trade Nation is a solid choice for exactly that, fixed spreads from ~0.4 pips and full TradingView access on their commission-free standard account (most brokers only give it on raw/ECN accounts with extra fees). My suggestions: - Pepperstone (Razor account): Often tighter average spreads (0.0–0.1 pips on majors), excellent execution, and native TradingView integration. - Fusion Markets or 8CAP: Lowest overall spreads among TradingView brokers, raw accounts with minimal commissions, and very fast platforms. Compare live spreads and your local regulation before switching.

how to read bollinger band

Great breakdown on Bollinger Bands, clear and practical. My suggestions: - Don’t rely on the squeeze alone for direction. Add volume or a simple candlestick confirmation (like a strong engulfing candle) before jumping in. - After the breakout, wait for price to retest the middle band or the broken band edge, this filters out many false moves. - Pair BB with RSI: if the squeeze happens while RSI is neutral (around 45-55), the expansion tends to be stronger and cleaner. - For pending orders, set them just outside the range with a tight stop beyond the opposite band to keep risk small. Solid strategy overall

How is backtesting done on TradingView?

Yes, I’ve backtested plenty of strategies on TradingView. Here’s exactly how it’s done (two simple methods): 1. Automated backtesting (best for rule-based strategies): - Open your chart. - Click Pine Editor at the bottom. - Write or paste a strategy script (starts with `strategy` not `indicator`). - Define your entry/exit rules using `strategy.entry()` and `strategy.exit()`. - Click Add to Chart - Open the Strategy Tester tab at the bottom – it instantly shows net profit, win rate, max drawdown, trades list, etc. - Tweak settings (commissions, slippage, initial capital) for realism. 2. Manual backtesting (no coding, great for discretionary rules): - Open your chart. - Click the Replay button (top toolbar). - Pick a past start date or use “Random bar”. - Play the chart forward bar-by-bar and manually apply your rules while noting results. Free accounts only go back a limited number of bars. For deeper history, you’ll need a paid plan (or journal daily screenshots like the earlier tip). Start simple, test on multiple timeframes/assets, and always include commissions/slippage. That’s it.

Nairatrader

Glad to hear Nairatrader is working well for you with easy twice-weekly withdrawals and rules that don’t punish you like other prop firms. My suggestion: Keep a simple daily journal (screenshots + notes on every trade) and review it weekly. It builds your edge faster than relying on the platform alone and helps you scale accounts without blowing up. Stay consistent and risk only 1% per trade max, it might based on you

Best time to trade crypto in Australia

Agreed. For crypto trading from Australia, the NY session is still the best pick for liquidity and real momentum – most volume and institutional money flows through US exchanges then. My suggestions: - Trade the NY open (your ~11:30 pm – 5 am AEST) if you can stay up or use alerts. - London open (your morning) is a solid second choice for decent European volume without the full US grind. - Watch the London-NY overlap (your ~2–5 am) for the highest liquidity spikes of the day. - Set alerts or use a 24/7 bot/scanner so you don’t have to stare at charts all night. That way you catch the real moves without forcing yourself into dead Asian sessions.

How to open a real forex account on MetaTrader 4

That's correct. You can't open a live MT4 account directly inside the platform. You must go to your broker's website, complete the live account application, get your MT4 login details, then log in with those credentials inside MT4.

How To Use Trailing Stop Loss

just tell the trailing stop how many pips of profit you want to be securing as price moves in your favor. Open a trade, right click on it and select "trailing stop". If you select 10 pips then as price moves in your desired direction, every time your profit is up to 10 pips, the system will shift your stop loss accordingly to secure it.

Journal, dont be lazy !!!

If you can't afford a paid TradingView plan, taking daily screenshots or keeping a simple trading journal with chart images is a good free workaround. Over time, you'll build your own personal archive of historical charts that you can easily go back to whenever you need. It takes a bit of discipline to do it consistently, but it saves money and can actually help you stay more aware of how the markets looked on those specific days.

20 pip xauusd loss, how do i recover from it?

Sure you can recover, just put it behind you and move on to the next trade. Losses are unavoidable, but before you enter the next trade, check your trading account balance and open a lot size that is commensurate to your trading account balance. If your account balance is low and you try to trade the same lot size you may get a margin call and your broker will close your trades prematurely

is deriv synthetic indices better than real indices?

Synthetic indices is just like prop firm, promises real money but it is skewed in favor of the developer. Its all part of the bigger plan by some people to gamify trading

what do the 1% successful traders do differently from the 99% unsuccessful ones?

Treating trading like a real business with a clear plan, rules, and tracking your results makes a big difference. Seeing losses as normal costs instead of failures helps you stay calm and improve. Good point.

How to avoid spread in forex

Trading major pairs during London and New York sessions can help keep spreads lower. Thanks for sharing.

Is it Possible to Trade Forex Without Using A Broker?

As a regular retail trader, you need a reliable broker to trade forex online. Big institutions can do huge trades differently, but for us, a good broker that actually pays withdrawals is important. Testing with small withdrawals after a month or so makes sense to be safe.