MyTradingLand Logo
Log In

Forex Forum

Join the community of forex traders.

Filter By Category
My first trade experience Replied 5 hours ago - Today was not a normal day, the reversal actually happened during franky but bounced off the pre-franky low and price moved upwards for a good part of London into NY. I got stopped out of my shorts this morning. It is only this evening at the close of NY that price is begining to fall towards the 625 option barrier.
1
21
3 Subs
+1
EUR/USD Beginner Level trading Replied 13 hours ago - I got stopped out of these trades. I am done or the day, will try again tomorrow.
6
917
41 Subs
+1
orokpos trades Replied 1 week ago - The trend for the past week has been fake of Asian high/low. The bearish engulfing pattern was the sell trigger, you did well to hold the trade from edge-to-edge.
0
28
3 Subs
what's us30 ticker symbol on ifx brokers? Replied 1 month ago - US30 index is also know as Wallstreet 30 or WS30 as ifx brokers displays it
0
2
0 Subs
which currency pair is most profitable in forex? Replied 1 month ago - I beleive profit comes when you find a good strategy on any forex pair/instrument. So for me, none is more profitablr than the other.
0
6
0 Subs
EURUSD Replied 1 month ago - Okay.
3
624
15 Subs
what are futures contracts in forex trading? Replied 4 months ago - Futures Pricing & Cost: Futures trade on exchanges every day so the price will be displayed, and the price also fluctuates according to market forces. You can click on any futures to see the contract specs. In the image attached, we see a Platinum Futures (PLV5) trading at a current market price of $1,359. However, from the contract specs we see that each PLV5 contract contains 50 troy ounces of platinum so the notional value of the contract will be ($1,359 x 50 ounces) = $67,950 When you buy and hold a futures contract overnight, it will be marked-to-market meaning you will be debited if the final daily settlement price is lower than your entry price. You will also be credited if the final daily settlement price is higher than your entry price.
0
8
2 Subs
eurusd vs xauusd which is better? Replied 5 months ago - EU above all.
0
5
1 Subs
please mention some countries where the rand is stronger than their currency Replied 5 months ago - INDONESIA The Rand is 912-times stronger than the Indonesian Rupiahs. The current Rand to IDR exchange rate is R1/912.53 IDR
0
5
0 Subs
gold vs dollar: what is the price relationship? Replied 6 months ago - Gold is a dumb metal meaning it doesn't pay interest so if the us dollar is strong people will rather invest in the dollar so they can earn interest, and this causes gold prices to fall when people move their investments from gold to the us dollar.
0
2
0 Subs
what is the difference between btcusd and btcusdt Replied 6 months ago - How about a little breakdown to make it more comprehensive and relatable. USDT (Tether) is a stable coin that represents the value of BTC (bitcoin). USDT holds a stable value relative to the US dollar. This pair gives a little advantage against market fluctuations, since it can be traded without assets being converted to fiat a currency. Meanwhile, the pair BTCUSD represents the value of bitcoin in the US dollar, indicating the current price of BTC in fiat currency. This pair is used to buy or sell BTC using the actual US dollar currency. In my opinion BTCUSD is more volatile due to fluctuations in the dollar market. Meanwhile BTCUSDT is a little less volatile due to the stable coin in the pair.
0
3
0 Subs
what is the polish currency, can i trade it in forex? Replied 6 months ago - The official Polish currency is called the "Zloty" and has the symbol "PLN". Poland does not use the Euro currency for transactions, even though they have been a member of the European Union since 2004. As at today, 1 PLN is worth 0.28 USD. Forex brokers allow you trade Polish currency pairs such as the USD/PLN, AUD/PLN. CHF/PLN, GBP/PLN, PLN/JPY on their trading platforms. Some forex brokers even offer trading account display currencies in PLN, so that as you trade you see your transactions displayed in PLN. Trading with a PLN account also reduces the currency conversion fees you pay when trading PLN pairs
0
1
0 Subs
is crypto haram? Replied 6 months ago - Because there is not much transparency when it comes to crypto and so many scammers utilize crypto as a means of moving funds and making it difficult to trace, most scholars will say crypto is haram. Crypto is a new phenomenon so whether it is haram or halal will depend on interpretation of scholars.
0
1
0 Subs
what is xauusd Replied 6 months ago - xauusd is the trading symbol for Gold, as used by most forex brokers
0
2
0 Subs
is us100 the same as nas100? Replied 6 months ago - US100, NAS100, USTECH100 etc. all mean the same thing - the Nasdaq Index
0
2
0 Subs
why xauusd is not moving today? Replied 6 months ago - XAU/USD has been trading within a range this week, and i suspect it has to do with trade tensions which are a fall out of the israel- Iran conflict. The United States has not yet made it clear if they will join in the war, so investors do not know if to run to gold or if to keep their investments in the us dollar.
0
2
0 Subs
what is crypto trading all about in Nigeria? Replied 7 months ago - Its basically speculating on whether the price of a crypto asset will go up or come down, without having to own the asset. However, what makes crypto trading risky is that most of the coins themselves are not backed by any solid asset so they could crumble any time. For example when trading commodity CFDs on Gas, Crude Oil, etc. these are backed by the spot prices of these actual commodities. But when trading many of these meme coins it is not very clear what they are based on. President Tinubu has signed the Investment Act into Law making crypto assets to be recognized as securities. My understanding of this is that any Nigerian investor can go through an Initial Coin Offering (ICO) to launch their own coin.
0
1
0 Subs
Why is EUR/USD the best pair for beginners to trade? Replied 7 months ago - eurusd is indeed the best pair for a beginner trader because when trading the smallest lot size of 0.01 lot, 1 pip movement is will lead to a profit or loss of just $0.1 When trading other instruments with the same 0.1 lot size, 1 pip movement will lead to a profit or loss greater than $0.1 which makes it more risky.
0
3
0 Subs
what are options in forex? Replied 7 months ago - To add to what @martini said, traditionally options are used when investors are afraid for their investment, hence it is used as a hedge. if you bought Apple stocks today and you hear that in one month the price might go down, you can protect your investment by buying "put options" that give you the right to sell off your Apple stock at the same price you bought them for . If at the end of the month the price of Apple doesn't fall, you don't necessarily have to abide by the contract terms, so you can refuse to sell the Apple stock but you will lose the money (premium) which you paid to buy the options contract in the first place.
0
2
0 Subs
why are so many beginners trading xauusd? Replied 7 months ago - xauusd prices move faster than most conventional instruments so the beginners must be looking for a higher reward for their risk. While currency pairs like eurusd move around 100 pips in a day, xauusd can ove 200 pips in a day, making it more profitable and more risky at the same time. I think beginners should avoid xauusd till they are sufficiently grounded in risk management and can develop a good strategy for xauusd. When they say 90% of retail forex traders lose money, it is partly because of this kind of high risk trading by beginners who want a quick buck. You might get lucky with xauusd a couple of times but your luck will eventually run out and if you dont know what you are doing you could make big losses and even quit trading.
0
4
0 Subs
« Previous 1 2