MyTradingLand Logo
Log In

Forex Forum

Join the community of forex traders.

Filter By Category
what is positive & negative slippage in forex? Replied 9 months ago - Positive slippage is when your order is filled at a better price than you had specified for example you set a buy limit order for 1.0222 and your broker fills it at 1.0200 it means you got a better deal since you bought at an even lower price than you had expected. Negative slippage is when your order is filled at a worse price than you had specified for example you set a buy limit order for 1.0222 and your broker fills it at 1.0230 it means you got a worse deal since you bought at an even higher price than you had expected. Slippage is common when you use pending orders. A limit pending order can give rise to positive slippage while a stop pending order can give rise to negative slippage. However, heres the real issue; may brokers do not account for positive slippage and they only fill your orders at negative slippage. When there is positive slippage they dont adjust your order accordingly but when there is negative slippage they quickly fill you in for a worse price.
0
1
0 Subs
what is pine editor in tradingview Replied 9 months ago - It is used for writing programming code to build indicators. Today, you can hire freelancers to build you an indicator from hiring sites like UpWork, Fiverr, etc. When they send you the code, just copy it and paste in the pine editor then give your new indicator a name you can launch it and use.
0
2
0 Subs
is sportspesa a forex broker? Replied 9 months ago - Sportspesa is a sportsbetting gambling provider and they are not a forex broker in any way. Sportspesa is not regulated by the Capital Markets Authority (CMA) in kenya, instead Sportspesa activities in Kenya are supervised remotely by the Isle of Man Gambling Supervision Commission. On the other hand, FXPesa is a non-dealing forex broker regulated and approved by the CMA Kenya. So, Sportspesa and FXPesa are not related in any way.
0
1
0 Subs
can i use ChatGPT for forex trading? Replied 9 months ago - I think chatgpt will only give you an overview of the market but you still have to do the work of analyzing the charts and picking your entry and exit points. Chatgpt cannot do your technical analysis for you it will only tell you the overall markets sentiment. There is no shortcut in trading.
0
1
0 Subs
which samsung phone is best for forex trading? Replied 9 months ago - I use the samsung galaxy note 9 with s-pen which makes drawing trend lines and clicking on tiny details easy for me. It also has good speed and a large AMOLED screen display which conserves power and shows colors brightly.
0
1
0 Subs
forex influencers claim to trade $1m account size, is this possible? Replied 9 months ago - You will notice that these online forex gurus who claim to trade 1 million dollar account size even do so with unknown forex brokers and not the tier-1 forex brokers which is suspect. I do not think there is any forex broker that can accept as much as 1 million dollars from a forex guru and let him trade and they issue payouts, they do not have such liquidity. Anyone that wants to trade with up to $1m has to pass through the banks and bigger liquidity providers like oil companies or hedge funds; and not forex brokers. So this is how you know that it is fake when online gurus display $1m as their account trading account balance.
0
1
0 Subs
how long do scalpers hold trades Replied 9 months ago - been scalping for a year now and it depends on the instrument im scalping. if i am scalping volatile instruments like crypto i hod the trade for 10 seconds max. However for non-volatil instruments like currency pairs i hold the trade for about 30seconds to 1 minute max.
0
1
0 Subs
why am i losing so many trades in a row consistently? Replied 9 months ago - I think you need to develop a strategy and folow it with discipline. When you have the discipline, one win can make you recover all your previous losses. But when you lack the discipline, it takes one loss to make you lose all your previous profits.
0
6
0 Subs
which broker has the lowest BTCUSD spread Replied 9 months ago - Exness has some low btcusd spread around 200 pips on their pro account
0
4
0 Subs
any advice on how to pass ftmo challenge Replied 9 months ago - Just elevate your risk mnagement game and stick to a strategy you know works for you. Dont go testing new strategies here and there. Goodluck!
0
2
0 Subs
Please what is the difference between points & pips in forex Replied 9 months ago - When you see 10 points it simply means 1.0 pips. When you see 11 points it means 1.1 pips, when you see 12 points it means 1.2 pips and so forth. Points is just a way of not having to include decimals.
0
1
0 Subs
how much is 1 btc in naira Replied 9 months ago - 1 bitcoin is worth around $77,251.92 which translates to around N123, 840,000 if you are trading it via a forex broker like I do. I monitor the btc price through my metatrader forex trading platform.
0
1
0 Subs
should i take profits early when trading forex? Replied 9 months ago - I dont think taking profits early is a good idea in the long term. I mean it may seem like a good idea/quick fix in the short term, but it will hurt your overall profitability in the long term. In trading to become profitable over the long term, your profits have to exceed your losses. If you exit with profit early and also cut your losses early then you will only break even and will neither be profitable or unprofitable. And studies have shown that if you take say 10 trades you are probably going to lose around 6 of them, so this is why for the trades you win you must let the profits run to cover the losses you sustained from the other 6 trades.
0
1
0 Subs
Why is My Stop Loss Triggered Without Price getting To It? Replied 9 months ago - always set your charts to show bid price and ask price lines. If you are short it means you entered at the bid price and will have to exit at the ask price. This means when the ask price line (the upper of the two lines in the image) reaches your stop loss it will be triggered. If you were long it means when the bid price (the lower of the two lines in the image) reaches your stop loss it will be triggered.
0
8
2 Subs
moomoo vs tiger broker who is the better broker? Replied 9 months ago - Tiger broker definitely has lower fees
0
2
0 Subs
which forex brokers have usd/ngn currency pair? Replied 9 months ago - Hello Segun, try the brokers FxPro and Exness; they have USD/NGN currency pair as part of their exotic pairs but the spread is very high. FxPro USD/NGN spread starts from 300 pips or thereabout.
0
1
0 Subs
where can i get lowest spread on nas100? Replied 9 months ago - Fusion Markets does 0.8 pips on nas100
0
2
0 Subs
which brokers have the lowest XAU/USD spread? Replied 9 months ago - I get 1.1 pips average spread on XAU/USD with 1:3000 leverage at my broker: Just Markets. They are regulated by FSCA South Africa and FSC Mauritius.
0
1
0 Subs
what is kwakol markets minimum deposit for beginner accounts? Replied 9 months ago - Kwakol Markets is an unregulated broker, they claim to be regulated by the Australian Securities & Investment Commission (ASIC) but their license was ceased since 19-01-2024. You can visit the ASIC website to view their regiters and confirm for yourself using this link https://asic.gov.au/online-services/search-asic-registers/
0
1
0 Subs
Which Forex Broker Has 1:3000 Leverage & Naira Account in Nigeria? Replied 10 months ago - FxPro now has 1:10,000 leverage and also has naira account.
0
13
2 Subs
1 2 ... 23 24 25 26 27 28 29 ... 35 36