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How much is Space Markets minimum deposit in ZAR? Replied 9 months ago - Space Markets minimum deposit is R50 but before they allow you trade you must have more than R50 in your trading account. Your account balance must be at least R100 before you can trade forex pairs, and at least R300 before you can trade other instruments.
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How to trade London session forex, is there a strategy to profitably trade the London session in forex? Replied 9 months ago - I use this simple breakout strategy to trade the London session. I simply mark the high/low of the Asian session on a H1 chart and wait for a breakout during the London session then trade the break. The logic behind this is that one of the busiest times of the London session is early in the morning when the traders in the bug banks in London are just opening for work. My thinking is that they place the big orders early in the morning so this can cause a breakout from the Asian session range. I want to add that no strategy is foolproof but this works for me most of the time.
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What is Trade245 minimum deposit in ZAR? Replied 9 months ago - Trade245 offers 7 different account types and the minimum deposit is 0 ZAR on all of them. This is suspicious because I see only older more established brands doing this but Trade245 was established just recently in 2020. Also when you visit Trade245 website, there is no live chat and no real means to reach them for inquiries. You will also notice the website has too little information which is one of the signs of a scam broker. My advice is you should tread with caution as this broker may not be trustworthy.
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What is Just Markets minimum deposit in ZAR? Replied 9 months ago - 190 ZAR minimum deposit for the MT4/5 Standard Account where spreads on EUR/USD average at around 1 pip, XAU/USD around 1.8 pips, US30 around 2.5 pips and Nas100 around 1.7 pips. 3,800 ZAR minimum deposit for the Pro & Raw Accounts where you can get up to 40% lower spreads.
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Best Time to Trade USDJPY in Kenya Replied 9 months ago - You can trade usdjpy during the NY or Asian sessions. Choose the one that is convenient for you.
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What is the best time to trade USDJPY in Nigeria? Replied 9 months ago - You can trade usd/jpy during the New York or Asian session but trading during the Asian session will mean trading at odd hours when you should be sleeping so I would say the New York session is more convenient since it starts by 2:00pm in the afternoon till 11:00pm Nigerian time.
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eToro vs Trading 212 Replied 9 months ago - eToro is my preferred option for Cryptocurrency as they have 100+ crypto you can actually buy and hold. Trading 212 on the other hand offers Crypto ETFs
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How do I open a real forex account on MetaTrader 4? Replied 9 months ago - To open a real MT4 forex account you must do so through your forex brokers portal (via their website or mobile app). MT4 is not equipped with account opening capability. After opening the account, your forex broker will send your login details to your email so do well to check your mail. Take the login details then use it to login on the MT4 platform; the login details will usually contain a server name so ensure to select the correct server as this is crucial. You asked why account opening feature wasn't integrated into MT4, well in my opinion MetaTrader is an open third-party platform used by different brokers so integrating account opening for each broker will require frequent modification of the MetaTrader app, which can affect its stability.
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understanding forex terminologies Replied 9 months ago - Scalping is a trading style where you keep your trades open only for a short time. But if you are a beginner there are more crucial forex terminologies you should be aware of. 1. Spread: a fee charged by the broker on every trade you make, which represents the difference between the price you enter the trade at and the price you exit the trade at. The difference between these prices is the spread and it goes to your broker. You must always pay attention to the spread because though little, over time it can eat into your profits. Spread is measured in pips so if i say the spread is 2 pips it depends on what the value of a pip is. if the value of a pip for the currency pair you are trading is $10 then 2 pips will be worth $20 2.Commission: this is another fee charged by the broker on special accounts that offer very low spread and sometimes brokers also charge commissions when you trade non-forex CFDs. Forex traders can avoid paying commissions by opening a Standard Account type instead of a Raw Spread Account. 3. Going Long: this term is used to refer to when you enter a trade by clicking the buy button. 4.Going Short: when you enter a trade by clicking on the sell button 5. MetaTrader: a kind of trading software; we have MT4 (older version) and MT5 (newer version) 6. Stop Loss: an automated order you set on the trading software to close your trade when your losses reaches a certain amount. 7.Take Profit: an automated order you set on the trading software to close your trade when your profit reaches a certain amount. 8. Pending Order: a buy or sell order you set on the trading software not to be executed immediately, but at a future date/time. 9.CFD: a way of trading used by forex brokers where you do not own the underlying instrument but only get compensated/debited on the difference in price from when you opened the trade to when you closed it. CFD is an acronym for Contract for Difference so you will only be compensated for the difference in price and you will not own the instrument. For example if you trade Share CFDs, you do not own the shares and you cannot vote during the company's Annual General Meeting.
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Is Vault Markets Regulated? Replied 9 months ago - From what I see on the Vault Markets website, they are representing another broker that is FSCA regulated. Personally I wouldn't trade with Vault Markets because of this, as they are so many other forex brokers in South Africa to select from who have direct FSCA regulation.
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What do you wish you knew before you started forex trading? Replied 9 months ago - I wish I knew that success on a demo account does not equate success on a real account because emotions come into play when trading live.
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How much does a forex robot cost? Replied 9 months ago - Yes, you can build your own trading bot to execute your trading strategy. If you are using MetaTrader you can code your EA. But I'll come again to the starting point, what is your underlying strategy. The EA will only execute that strategy, but if the strategy is not profitable after paying the brokerage costs, then the bot will not automatically make you money. So, first you have to find a repeatable consistent pattern that you want to automate. What is it? Does it have an edge?
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When is The Best Time To Trade Nasdaq (NAS100) in Nigeria? Replied 9 months ago - If you are looking to trade the NY session, then you can trade NASDAQ from 3PM Nigerian time to 8PM. Or if you have a strategy for trading during London session, then you can trade from 9AM. CFD brokers allow 24 hour trading on NAS100 or US100. There is no right or wrong time to trade NASDAQ index. If you have a particular strategy on NASDAQ that has an edge during London open (minus brokerage cost), then you would trade it at that time. But if you have no edge, and trade randomly, and follow no loss limits, then also it does not matter when you trade it. So, first ask yourself, do you know something (and have tested it) that will give you net net positive returns from trading NASDAQ? Then decide what is right time to trade it. Volatility may not always be on your side.
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How to know when to buy or sell in forex Replied 9 months ago - No, there is no hard & fast rule on when to get & when to get out. It depends entirely on your trading strategy. Also, for how long you should hold, it depends as well on your strategy. There is no straightforward answer in my opinion. For example, if you have a strategy that tries to capture the momentum on US30 during US open, then you would get in before that with a small SL as per your strategy. And you will exit it based on your set of rules, like first opposite signal or profit based exit. First decide what you want to trade & why? Are you familiar with how it moves, when it moves. Then develop a strategy that will give you an edge. An edge is when you take more money out than how much you put in. And remember that your equity is everything. Don't lose it on punting on a single trade. Otherwise you will definitely lose it all.
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London session forex time in Malaysia Replied 9 months ago - London opens at 4PM Malaysian time & ends at 12AM. if you count Frankfurt as well, then it starts at 3PM in Malaysia. These hours change depending on the Daylight Saving Time (DST) in Europe (from months of March to October). When DST is active, the London open is at 3PM Malaysian time.
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What is NFP in Forex? Replied 9 months ago - The NFP or Nonfarm Payroll report is for the United States economy only and it will tell you amongst other things, if the U.S. unemployment rate has increased or decreased for the month it is released. Forex traders wait for NFP to be released on the first Friday of every month because its release is usually greeted with heightened volatility in the market. Many forex traders look to make money from this volatility by trading seconds before the report is released or immediately after the report is released. To know when NFP will be released, you can use the economic calendar provided by your forex broker to keep track of the date.
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How much is 1 pip in USDJPY ? Replied 9 months ago - When trading USD/JPY a pip is 0.01 and the value can be found when you apply this simple formula (0.01/Exchange Rate) x Number of Units. So, if you want to trade 100,000 units of USD/JPY and the current price is 151.71, the value of 1 pip will be (0.01/151.71) x 100,000 = 6.56 USD
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Who Has Traded With JP Markets? Are They Safe? Replied 9 months ago - JP Markets have asked people contesting unclaimed funds submit their application to be paid. I don't know what's going on with JP Markets but why do people have to contest unclaimed funds? Well, tread with caution with this broker is all I would say.
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What is the best time to trade NAS100 in Kenya? Replied 9 months ago - You can trade NAS100 CFD during London or the NY session, depending on your strategy. It is possible that you might have a better strategy that works on NASDAQ during London session. NY session is more volatile & you will have faster & more volatile moves. If you are from Kenya, then you can trade NASDAQ from 4PM-8PM, if you want to trade the NY session. Or you can trade between 10AM - 1PM if you trade the London session. I've plotted both of the chart to highlight the last 2 trading sessions, so you can visually see both. It is important that you must first have a strategy for that time & proper risk threshold (account & trade based), regardless of what time you are trading at. There is no one best time, it just depends on you as the trader, do you have an edge trading NASDAQ at that particular time or not?
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When does the Asian Forex Session Start & End in Kenya? Replied 9 months ago - When we talk of the Asian session, remember its both Tokyo & Sydney we are talking of and they have different time movements. Tokyo is ahead of Kenya by 6 hours & Sydney is ahead of Kenya by 8 hours. The Asian forex session in Kenya starts by 1:00 AM but at that time only Sydney is active. You need to wait till around 3:00 AM for Tokyo to come online, so you get more liquidity. The end of the Asian forex session in Kenya is around 11 AM. In summary the Asian forex session in Kenya starts by 3:00 AM and ends by 11:00 AM
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