MyTradingLand Logo
Log In

Forex Forum

Join the community of forex traders.

Filter By Category
How does a raw spread account work in trading? Replied 15 hours ago - Raw spread accounts arent necessarily better/cheaper than standard accounts but they allow you more wiggle room when it comes to setting your stop loss and making it tight.
0
4
0 Subs
Prop Firm Drawdown Replied 18 hours ago - Accept that drawdowns are normal: This is so vital to a traders progress. Every trader — even professionals — experiences drawdowns. The difference is that good traders manage them, while emotional traders make them worse.
0
13
1 Subs
How do prop firms make money, is it from selling challenges? Replied 1 day ago - Prop (proprietary) trading firms are companies that give traders access to their capital. In return, the trader shares a portion of any profits made. But the way prop firms earn money goes far beyond this. Evaluation / Challenge Fees (Their Biggest Income Source) Most modern online prop firms use a “challenge model.” This means traders must pass one or two evaluation phases before they can access a funded account. Traders pay a fee for the evaluation. If they fail the challenge, the firm keeps the fee. Many traders don’t pass because of strict rules or lack of experience. This alone makes up the majority of a prop firm’s revenue. That's because thousands of traders buy challenges every month, and most of them don’t reach the funded stage.
0
3
1 Subs
What happens if I deposit the wrong amount into my trading account? Replied 1 day ago - The broker wiil send the difference of $10 back to you, it has happened to me before. This is why it is important to trade with tier-1 regulated brokers only.
0
3
0 Subs
Can I start trading with $100 Replied 1 day ago - Yes, a beginner can start trading with $100, but the main goal should be learning, not making big profits. A small amount is actually good for beginners because it teaches discipline and reduces risk. You must use very small position sizes and understand that losses can happen quickly. I am not really in support of leverage for a beginner.
0
4
1 Subs
Prop Firm Replied 1 day ago - i stated a better trading platform cos of the one i use. my current prop firm gives access to MT5 and Match trader. I actually prefer Match trader to MT5. The platform is so easy to navigate.
0
3
0 Subs
TADING WEEK/MONTH EXPERIENCE. Replied 1 day ago - Was the week or month a profitable one for you?
0
11
2 Subs
GREED Replied 3 days ago - The market is like shark infested water, you get in and get out. That does not mean you should not allow your winners to run but you should open many trades, close some with profit after about 15 pips, then allow the rest to run. This means you should always add to your winners. Many traders only open one trade and they intend to leave it open till it reaches the TP which is risky. Since Trump came into power we began to have more trending days where the market sails in one direction but such does not last. The reality is most times the market will be zig zag not remaining in on one course for more than 20 pips.
0
3
0 Subs
why am i losing so many trades in a row? Replied 4 days ago - A lot of traders experience multiple consecutive losses which is common in trading with reasons like unpredictable market conditions, mismatched strategies, impulsive trading, psychological factors like fear or greed, and inadequate risk management. To improve - review and refine your strategy - apply strict risk controls - stay disciplined - manage emotions through patience and journaling - set realistic expectations and take breaks when needed. sticking to this plan and checklist you can watch out for better improvement in a short period of time
0
10
1 Subs
Overtrading doesn’t come from strategy problems. Replied 4 days ago - Overtrading occurs when traders make excessive trades fueled by emotions like greed or frustration, risking and burnout. To prevent this, traders need - strong psychology - discipline - emotional control and mental resilience all of this to make better decisions and follow their plans.
0
6
1 Subs
when does London session open in Nigeria, is it by 8 am or 9 am? Replied 4 days ago - It starts last sunday in march
0
12
4 Subs
What do you do when you have a bad trading week or month? Replied 4 days ago - Unprofitable pls
0
3
0 Subs
Which is the best forex academy in Lagos? Replied 4 days ago - I will advise you don’t really focus on a physical academy, find someone that has a proven track record in the industry and learn from him or her. If he or she can meet with you physically, that’s a great idea.
0
4
0 Subs
Forex trading Replied 5 days ago - There are basically three of such sessions 1. Asian session 2. London Session 3. New York session. As a beginner it’s better to always come to the market during the London and New York session. The Asian session isn’t that busy so I won’t advise you to trade during that session.
0
9
0 Subs
understanding forex terminologies Replied 5 days ago - This is an amazing thread for a beginner. I recommend it for everyone beginner trader
0
2
0 Subs
what is scalping in forex Replied 5 days ago - Scalping is a trading style where a trader makes profit when his or her trades goes into little profit . 5-10pips move are okay for a scalper.
0
9
0 Subs
Traders Failure In Forex. Replied 6 days ago - Alright. Thank you for your response. I don’t think prop firm allow the use of trading bots for their accounts. Do they?
0
12
0 Subs
which is the worst month to trade forex? Replied 1 week ago - January 🤣🤣🤣🤣🤣, i didn’t like this January price action at all
0
4
1 Subs
Where can I get huge capital to trade forex with? Replied 1 week ago - Yes it did. Prop firms are actually good leverage if you can stick to the rules and go with a reputable firm.
0
11
3 Subs
How Does One Learn Forex Trading For Free Without Having To Buy Online Forex Courses & Pay for Mentorships? Replied 1 week ago - I don’t believe in learning forex for free. It’s time consuming and can be tedious. The best way to learn forex is to learn from someone with proven track record in the industry. Don’t just go paying anyone. Pay only those who are really doing well in the industry.
0
4
3 Subs
« Previous 1 2 3 4 5 6 7 8 9