Forex Forum

Trading is easy to learn but hard to master

Oohh, I get that now. Thanks for the clarification

Is there a way to predict nfp direction?

It is highly dependent on the broker you are using, most low tier brokers will fail to execute the pending order but most tier-1 regulated brokers will always execute it although sometimes it may be executed at an inferior price. So, yea the pending order will get triggered but mind you the spreads are always high on such transactions.

which economic news has the most impact on forex?

If I have to pick one, I would go with Interest Rate announcements especially those by the European Central Bank (ECB) and the US Federal Reserve

what happens to stock prices of EU companies if the Euro weakens?

Some EU company stocks may fall or struggle This mainly affects companies that import a lot or rely heavily on materials priced in dollars (like oil, metals, electronics components). Examples: Airlines (fuel costs rise) Retailers importing goods Energy companies dependent on USD-priced commodities Why? Imports become more expensive Profit margins shrink Higher costs → pressure on stock price

TRADING ALONE OR TRADING WITH A SIDE HUSTLE?

This is so true

which samsung phone is best for forex trading?

I checked on Jumia and saw some cheap used samsung note 8 pgones (with s-pen) going for around NGN 225,000 ( around 160 USD) which is affordable.

Best Time For XAUUSD Trading in South Africa

Prime Window — 15:00 – 18:00 SAST This is widely considered the best time for trading gold in South African time. It’s when the London and New York markets overlap, bringing high liquidity, big price moves, and tighter spreads — ideal for most strategies.

what is margin trading, what assets can i trade on margin?

Margins means in a lay man’s language You put down a small amount of your own money (called margin) and your broker temporarily lends you the rest so you can take a bigger trade. Example idea (not advice): If you have $100 and use 5× leverage, you can open a $500 position. But if the market moves against you, you can lose money much faster than normal.

how does dxy affect the prices of currency pairs

When DXY goes DOWN The U.S. dollar is weakening. Effects: USD pairs often fall (like USD/JPY, USD/CAD) because the dollar is weakening. Non-USD currencies rise vs USD (like EUR/USD, GBP/USD). Example: If DXY drops, GBP/USD usually rises. DXY reflects: Interest rate expectations for the U.S. Market risk sentiment (USD rises when people want safety) Global demand for dollars Because the U.S. dollar is the world’s dominant currency, shifts in DXY ripple through nearly all FX markets.

How to calculate 0.1 lot size in dollars

I actually haven’t tried that platform before seriously. Now that you said it’s good, I will check it up.

Take partial profit or adjust SL: which is better?

Pls read what i wrote carefully. I told you how the trade are managed if I’m adjusting my stoploss instead of taking partial profit. Adjusting my stoploss helps me to secure more profit as revealed by my technical analysis. Note: Taking partial profit reduces the total money, you should make but adjusting stoploss still affords you the opportunity to make more cos you haven’t reduced the lotsize. Taking partial profit reduces your lotsize which invariably reduces the amount made.

how do i know if i am getting better at forex trading?

1. You start looking for more advanced trading platforms When I started trading, I was content with using MT4 to trade but as I got better I began to desire more features causing me to download MT5 and then as I got better I upgraded to TradingView and finally settled for the advanced cTrader platform. 2. You start looking for low spread brokers I started trading with HF Markets and initially I didnt notice how high the spread on their premium account was (up to 1.6 pips on EUR/USD). However as I got better, I realized the high spread was affecting where I could place my stop loss, I kept getting stopped out easily. Because of this, as I got better I asked my mentor to recommend a low cost broker and thats how I switched to Trade Nation where I got 0.6 pips on EUR/USD. 3. You spend less time in front of the charts When i started trading, I was always in front of the charts taing every trade i saw. However as I got better, I began creating trading rues such as specific trading hours, daily loss limits etc. These rules helped me trade less frequently for example once my daily loss limit was reached I stopped trading for that day. 4. You develop a trading strategy (and stick to it religously) As a beginner, I didnt have a trading strategy so I was always trying out different stuff every day. As I got better, I researched and found a strategy that worked on EUR/USD, GBP/USD, and US30; and I stuck to it without deviating. Everyday, I traded the same strategy irrespective of the outcome (profit/loss) 5. You accept losses as gifts In every loss there is a lesson, so as i got better in trading I stop being angry at myself after a loss. Instead, I look inward for the lesson to be learnt from that loss and how not to repeat the same mistake twice. 6. You set your stop loss where it needs to be (not where you are comfortable with) When I started trading, I used to set very tight stop losses because of the fear of losing. Because of this I was always getting stopped out over and over again. With time, I learnt that a stop loss needs to be set at the most appropriate distance from entry even if it means risking a higher amount than I was comfortable with.

How much do forex traders make a month in South Africa?

There’s no straight forward answer to this question. The amount a trader makes is dependent on the trader. It involves the amount of money risked and the target of the trade. It also depends on the amount of trade taken in a month. It all just depends on the trader sincerely.

When is The Best Time To Trade Nasdaq (NAS100) in Nigeria?

Let me add that you cannot trade NAS100 on some U.S. public holidays because the exchange will be closed for business.See attached list of Nasdaq stock exchange holidays for the financial year 2026.

does the forex market open during eid muslim holidays?

Yes , the market is open during Eid Muslim holiday. Pls be aware that the market is open Monday to Friday, closes Friday night.

High minimum withdrawal with brokers: how to bypass it

The brokers have found out this loop hole so they now check where you are resident. For instance if the broker sees you are resident in Nigeria and you open a ZAR account, they will increase the minimum deposit. A good example is the broker Trade Nation that has been discussed here, their minimum deposit for South African residents is 50 ZAR but if a Nigerian opens a ZAR account they immediately increase the minimum deposit to 500 ZAR

should i use my discretion when trading?

Using discretion is taking risk, during my training my trainer strongly advised that i use strategies and stay by it.

is it good to keep shifting my stop loss as price nears it?

👍

which currency pair is most profitable in forex?

I guess the relevant question to be asked is "which currency pair is the least volatile" because when a pair is not too volatile, your risk is lower leading to a chance for more winning trades. So I think EUR/USD is the least volatile pair to trade and another good thing with it is that it has the lowest spreads of any currency pair and the liquidity is high since market makers always use eur/usd options to hedge their fx exposure.

win rate or risk to reward; which is more important?

Risk to reward is superior to win rate. For example, you executed 10trades and you won three out of the ten with risk to reward ratio of 3. Your win trades will be at 9rr . Remember you lost 7trades, that’s 7rr . Overall, you are still profitable with a 2rr. Hence, risk to reward is better than win rate.