MyTradingLand Logo
Log In

Forex Forum

Join the community of forex traders.

Filter By Category
how do I delete my rcg markets account? Replied 10 months ago - You would have to send an email to rcg markets support stating why you want to close your trading account, state the trading account number of the account you want to close and the email address associated with that account. Please also note that if your account has trading history rcg markets will not be able to delete it.
0
4
0 Subs
Is TIO Markets Legit? Replied 10 months ago - TIO Markets is regulated in from Saint Vincent & The Grenadines (SVG) which is a remote island. Now that is not really the issue because many big brokers place traders under SVG regulation. The reason TIO Markets is a high risk broker is because it is relatively unknown to many and does not have business entities regulated in other parts of the world. Let me give you an example: HF Markets is a broker that places some of its traders under its SVG entity, but HF Markets is also regulated by the FCA UK, CMA Kenya & FSCA South Africa. TIO Markets on the other hand is only regulated by SVG ! See what I mean?
0
1
0 Subs
the less you trade, the more you make; can anyone relate to this? Replied 10 months ago - online trading is one area where doing it more does not mean you will make more money. In fact doing trading more will result to more losses because trading is about probability. There's always going to be times when the market will move against you or you make a wrong decision; so the more you trade the higher the probability that you will make a mistake.
0
2
0 Subs
can you recommend low cost prop firms in South Africa? Replied 10 months ago - I am currently taking a challenge with goat funded trader and they have plans for as low as $17 with no time-limits. You can also check out maven trading prop firm too as they have cheap plans. Note that prop firms are unregulated so you trade at your own risk.
0
1
0 Subs
what is goat funded trader leverage? Replied 10 months ago - Goat funded trader is a prop firm with 1:30 leverage during the first challenge phase and up to 1:100 leverage during the second challenge phase. if you pass the challenge and become a funded trader you still get 1:100 leverage on your funded account.
0
1
0 Subs
is goat funded trader a legit prop firm? Replied 10 months ago - Yes goat funded trader is a legit prop firm complete with positive reviews on Trust Pilot. A friend of mine currently trades with them but you should keep in mind that goat funded trader is not regulated so when dealing with prop firms there is a high risk.
0
1
0 Subs
How do I open a demo account on TradingView? Replied 10 months ago - Yes, TradingView also offers a desktop platform and mobile app
0
7
0 Subs
has ftmo 10k challenge fee been reduced? Replied 10 months ago - There's an ongoing promotion on the 10K FTMO Challenge at 89€ instead of 155€, this offer is available on one active 10K FTMO Challenge at a time
0
1
0 Subs
what is the profit split at ftmo prop firm? Replied 10 months ago - FTMO shares profit with traders 80/20 before scaling and then after scaling they share 90/10.
0
1
0 Subs
what is netting in forex? Replied 10 months ago - Netting is an execution method where if you open several trades for the same instrument, they will not be displayed individually instead they will be summed up and displayed as one trade. Netting is easier to understand for new traders and it keeps the trade panel decluttered and tidy. Hedging on the other hand will display the trades individually and hedging also allows you to open a buy and sell order for the same instrument so that the profit from one, offsets the loss from the other.
0
1
0 Subs
is maven prop firm regulated? Replied 10 months ago - Maven Trading has also said in their risk disclosure statement that the chances of you getting a winning trade with them and withdrawing money is only 2.5% so you should understand that it is not going to be a walk in the park. There is a high chance you will fail the evaluation. read risk disclosure here https://maventrading.com/risk-disclosure/
0
3
0 Subs
what does simulated funded account mean? Replied 10 months ago - A simulated funded account is one that only allows you trade unreal assets in a simulated environment just like a demo account. Your trades are then copied by the prop firm (using copy trading mechanism) and then executed on their own live account then they share the profits with you (profit split). Some prop firms offer simulated accounts while other offer live accounts. The advantage of simulated funded accounts is that the terms and conditions (such as drawdown, loss limit, evaluation fee etc.) are less stringent than on live accounts. The disadvantage of simulated funded accounts is that they may be slippage since trades are not executed in real time. Live funded accounts are often more expensive than simulated funded accounts because of the additional risk taken by the prop firm in executing the trades on the spot.
0
1
0 Subs
how to get maven prop firm coupon code? Replied 10 months ago - get the maven prop firm code from prop firm match website or YouTube channel
0
2
0 Subs
does maven prop firm have MetaTrader? Replied 10 months ago - maven prop firm does not offer metatrader instead they offer cTrader and another platform called match-trader. May I add that lots of prop firms used to offer metatrader in the past but due to the unregulated nature of prop firm activities, metatrader had to de-platform several prop firms and stop doing business with them.
0
1
0 Subs
do i need a mentor in forex trading? Replied 10 months ago - Yes, I am of the opinion that every retail forex trader needs a forex mentor for the purpose of accountability. You need someone to call you to order when you are over-trading, taking on too much risk, revenge-trading etc. Without a forex mentor, there will be nobody to curb your excesses while trading and this is a major reason most traders keep blowing their accounts. Professional traders who work in hedge funds and banks have supervisors who monitor what they do strictly and ensure the traders trade according to the risk management policy of the organization. This is partly why professional traders make more money than retail traders because they follow strict rules and are punished if they deviate. So, finding yourself a forex mentor is like finding a supervisor who will ensure you don't trade recklessly and also ensure you stick to your trading plan.
0
1
0 Subs
Is forex guru investment real or fake? Replied 10 months ago - Forex Guru Investment is definitely a scam and the FSCA South Africa has issued a public warning about them. https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20-%20Public%20warning%20against%20Forex%20Guru%2029%20September%202021.pdf
0
2
0 Subs
ctrader vs mt4 which is the better choice? Replied 10 months ago - Here's my take: the only aspect where mt4 outshines cTrader is algorithmic trading/Expert Advisor use. Because more brokers offer mt4, they are able to place their servers near mt4 servers thus guaranteeing faster execution speed and lower latency and this translates to better performance of expert advisors. On all other aspects, cTrader outperforms mt4 totally. I think the fair enough comparison should be between cTrader and mt5.
0
2
0 Subs
How to Know Forex News Before Release Replied 10 months ago - You cannot predict what the forex news will be but you can make a guess and hope you are right; it is purely speculation and carries high risk. For example NFP is always released before CPI so if NFP shows more jobs have been created it could imply that inflation may increase as when more people have jobs, spending increases. But this is purely speculation and is you might be wrong. This is what makes trading during important news events very high risk because if you are wrong you could blow your account.
1
4
1 Subs
what's on your list of important forex news? Replied 10 months ago - Hi Brenda for me these are the news events that I consider market moving: 1. United States CPI release (around second Wednesday of every month) 2. United States NFP release (around first Friday of every month) 3. E.U. Interest rate release 4. United States Federal Reserve Board Interest rate release
0
1
0 Subs
does smc trading strategy really have an edge in forex? Replied 10 months ago - Hi Segun, in my opinion I think the smc trading strategy brouhaha does not work because I dont think anyone can predict when banks are trading by merely looking at charts. Its all a conspiracy theory and I would rather stick to traditional price action trading than give into smart money concept & ict trading strategy conspiracy theories.
0
1
0 Subs
1 2 ... 25 26 27 28 29 30 31 ... 35 36