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which is the worst month to trade forex? Replied 2 months ago - I will go with December being the worst month of the year to trade forex because portfolio managers, banks, investors etc. are wrapping up and tidying their books so the market could be excessively eratic.
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What is a pip in forex trade Replied 2 months ago - forex trading is about speculating/predicting by how much the exchange rate of a currency will change and a pip is used as a means of measurement to calculate the change. if the exchange rate of the euro against the us dollar (aka EUR/USD) moves from 1.1750 to 1.1751 we can say it has moved by 1 pip. The simple math is (1.1750 - 1.1751) = 0.0001 or 1 pip. Key considerations when calculating pips for currency pairs are you should keep in mind that exchange rates could be quoted to 4 decimal places (example 1.1750) but some brokers quote them to 5 decimal places (example 1.17500). For a 5 decimal exchange rate quotation, if EUR/USD rate changed from 1.17501 to 1.17509 then it would have moved 0.8 pips. The math is (1.17509 - 1.17501) = 0.00008 or 0.8 pips
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what does going long & going short mean in trading? Replied 2 months ago - Going short means, you want to enter the market by clicking on the "buy" button (it is ideal to buy when price is rising) while going short means you want to enter the market by clicking on the "sell" button (it is ideal to sell when price is falling).
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How do prop firms make money, is it from selling challenges? Replied 2 months ago - i am also not buying that profit split lie that prop firms tell. I bet you prop firms hope you fail so you can buy another challenge while they smile to the bank.
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what do you check for before you open a buy/sell trade? Replied 2 months ago - @Paul this almost happened to me today. I was on GBP/USD chart instead of EUR/USD and I almost placed a trade on it but i cross checked and found out i was on the wrong chart.
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Is blue wave trading a scam? Replied 2 months ago - I would say it depends on where you are resident. In the UK, blue wave trading would require a FCA license to sell any investment robot and if they do not have it, then they would be operating illegally.
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is gold better than forex? Replied 2 months ago - Don't trade gold CFDs as a beginner, there are not enough strategies out there that are profitable for gold. Gold ETFs are a better way for beginners to access the gold market instead of trading CFDs. But if you have enough experience in trading, I will say trade gold futures because they are more predictable than gold CFDs.
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which broker gives free bonus without deposit Replied 2 months ago - Most of the brokers that give free bonus without requiring you to make a deposit are usually poorly regulated brokers who are high risk. That being said, there are some reputable brokers like Tickmill that give a $30 no-deposit bonus.
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what is sierra chart platform, is it free to use? Replied 2 months ago - Sierra chart price is $26 per month for the base package. The advanced packages cost $36, $46 and $56 per month depending on the contents of the package.
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what is considered a whale in crypto? Replied 2 months ago - In crypto, a whale is an individual or entity that holds a large amount of a specific cryptocurrency, enough to significantly influence the market through their trades. I recently began trading
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Why do brokers reduce your leverage when your account balance is high? Replied 2 months ago - I have pondered about this too, initially i thought the brokers were lowering the leverage to prevent high losses but on second thought i realized the brokers were doing it to protect themselves. The higher your account balance, the wider the stop loss you can set thus making you almost immune to losses, so you have an edge. I don't think the brokers like that, so they lower your leverage so that even if you win, they don't have to pay you so much profit.
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which broker trades on weekends? Replied 2 months ago - Deriv; you can trade synthetic indices with them on weekends
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which economic news has the most impact on forex? Replied 2 months ago - It could depend on the forex pair you are trading. For EUR/USD I guess Nonfarm Payroll has the capacity to rock the boat when it is released
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how do you count pips on gold? Replied 2 months ago - A). 1 lot of xau/usd = 100 ounces of gold B). xau/usd price is always quoted to 2 decimal places (for example 2500.05) C). xau/usd changes in sequences of 0.01 (meaning 2 decimal places) D). For a standard lot, the value of 1 pip in xau/usd is (0.01 x 100 ounces) = $1 E). If xau/usd price moves from 2500.05 to 2500.06 it has moved 0.01 or 1 pip, if it moves from 2500.05 to 2500.15 it has moved 0.10 or 10 pips. Since for a standard lot of xau/usd every pip movement is worth $1 then a 10 pip move will mean a profit or loss of $10. F). For example, if you are trading 0.05 lot size of xau/usd and the price moves 5 pips in your favour, your profit will be (0.05 lot x $1 x 5 pips) = $0.25 Summary At first glance, xau/usd pip value may not seem like a lot because for a standard lot every pip movement is worth just $1 but xau/usd price moves in bursts, covering several pips in a few minutes leading to significant damage if you are on the losing side. Hope this helps!
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How Does One Learn Forex Trading For Free Without Having To Buy Online Forex Courses & Pay for Mentorships? Replied 2 months ago - Learn forex quickly by joining a free trading community online or offline. I emphasize the word "free" because any community asking you to subscribe is probably a scam and are not interested in your self-development. In genuine free trading communities, you benefit from the wisdom of the crowd as the members share their charts and daily market experiences with each other.
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should i learn to trade forex with a demo or real account? Replied 2 months ago - If I were you, I would start with a demo account for a few months then upgrade to a live account. The live account will help you develop control over emotions like fear, greed, hope etc.
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At the end of the day is forex trading really a profitable venture? I mean you can make profits here and there but it seems like the losses will always outweigh the profits Replied 2 months ago - When you are wrong how much do you lose and when you are right how much do you profit? You need to ride your winners for a bit longer to be able to remain profitable.
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anyone have a comprehensive list of tradingview brokers? Replied 2 months ago - GO Markets is one of the tradingview brokers
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should i exercise my stock options? Replied 2 months ago - Call options rarely get exercised because the extrinsic value (the premium others are willing to pay to buy the call from you) may be higher than the intrinsic value you get from exercising the call. So, it makes business sense not to exercise the call and instead sell the call and make more money.
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what is intrinsic value in options trading? Replied 2 months ago - The meaning of intrinsic value is the difference between the strike price of the option, and the current market price of the underlying asset. So, if your stock call option contract has a $100 strike price but the current market price of the stock is $125 then the intrinsic value of your option contract is $25. If you decide to exercise the call option, you will have to buy the stock at $100 and sell it at $125 so you make a profit of $25 per share.
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