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what is hfx trading, how much to get started? Replied 7 months ago - hfx trading is just another hoax like ICT & order Block, don't fall for it. There is no need to overcomplicate trading by trying every new thing you hear of. Basically, hfx trading is just trading lower time frames actively and racking up small profits but it's not practical in reality.
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how do i set the correct time zone on my trading platform? Replied 7 months ago - You may need to contact your MetaTrader broker to move you to a new server that aligns with your timezone. On TradingView you can simply change it by editing the time zone settings but on MetaTrader it is more complicated. This one reason why TradingView is so popular!!!
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what is CFD trading & why is it popular? Replied 7 months ago - To add to what @skyfall has already said, CFDs are different from betting because in betting the profit/loss outcome is a fixed amount which you will already know from the onset. However, in CFD trading the amount you will profit/loss is not known at the beginning because it depends on the price at which you exit the contract at. Let's say you entered a long EUR/USD CFD contract at price 1.1625, to make profit the price must rise above 1.1625. You are free to exit the long CFD contract at any price you like; the higher the price you exit at, the more profit you make and vice versa.
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is copy trading risky? Replied 7 months ago - @ozgal I wouldn't take recommendations from anyone here. You can check for yourself but copy trading is at your own risk. If the person you are copying sustains losses there's nothing you can do about it, no refunds!!! I always prefer to trade by myself and hold myself accountable.
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what is FBS minimum deposit ? Replied 7 months ago - $5 minimum deposit but they charge withdrawal fees.
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why do you need $25,000 for day trading in the US? Replied 7 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 7 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 7 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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can i open a buy & sell trade on same instrument simultaneously? Replied 7 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 7 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 7 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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since deposit bonus is not withdrawable, then what's the point? Replied 7 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 7 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 7 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 7 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 7 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 7 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 7 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 7 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 7 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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