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Daily FX Options Expiring by 10 AM New York Cut Replied 2 days ago - EUR/USD expiry at 1.1800
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How Do I Set A Pending Order on MetaTrader Charts? Replied 3 days ago - To set a pending order simply right-click on the chart and select buy or sell stop/limit. The pending order line will then appear on your chart visually and once price gets to the line, the pending order will be executed transforming it into a live trade. One of the best trading platforms for order management is not MetaTrader but cTrader.
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How to Get Funding for Forex Trading Replied 1 week ago - Kind of agree with @patrader, if you think you are part of the 5% profitable traders then get a prop firm account, win and get payouts. However, chances are once the prop firms identify you are a pro trader, they will ban you.
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What's the Risk Reward Ratio Formula in Forex? Replied 1 week ago - But hey personally, I like to place my stop loss at a safe distance away and I always like to hide my stops behind support/resistance levels. I dont just place a stop somewhere because I dont want to lose money or because I am looking for a comfortable RR
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How will you explain stop loss & take profit to a beginner forex trader? Replied 1 week ago - Sometimes, you tell yourself I am going to close the trade when my profit reaches $10 but when the time comes you become greedy and say ok let it reach $12 before I close it, before you know it the profit falls back to $5 and you start regretting. The Take Profit is an automated order designed to fix this kind of problem. Once you set it to take profit at $12 it does just that without any manual input from you. The same goes for the stop loss, they automate the process of entry and exit, removing emotions such as greed and fear from the picture.
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My definition of a sell limit order used in forex trading Replied 1 week ago - Sell Limit Order A sell limit is an order you place to sell a currency pair at a higher price than the current price, because you think the price will go up first, then drop. In short: you sell at a price above the current market, expecting it to reverse downward after reaching that level. Example EUR/USD is currently 1.1000 You believe it will rise to 1.1050, then start falling You place a Sell Limit at 1.1050 What happens: Price rises to 1.1050 → your order triggers → you sell automatically Then price starts to drop → you can profit If the price never reaches 1.1050, your order doesn’t execute.
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how do you prepare yourself mentally for the days trading? Replied 1 week ago - The first thing I do is to confirm that my laptop and internet router are fully charged and ready to go. After that I read a newsletter for traders from Spectra Markets https://www.spectramarkets.com/amfx After that I open my trading platform and check where the market is currently then I compare the current market price to what the options expiry data for the day is saying. This helps give me an idea of market direction for the day.
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what is a micro account in forex, is it for beginners alone? Replied 1 week ago - How does it depend on the broker?
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what is pine editor in tradingview Replied 1 week ago - So, imagine you buy an indicator from someone and you want to use it on TradingView, you just open the indicator file on yout computer then copy its content and paste it in your pine editor window then give it a name and save it amongst other TradingView indicators. Whenever you want to use the indicator just search for the name and it will pop up. The thing with pine script is that it may not work if you have the basic TradingView subscription plan, you may need to subscribe to a bigger plan to be able to use pine scipt satisfactorily.
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what is netting in forex? Replied 1 week ago - Netting in forex is a system where you can only have ONE position per currency pair at a time. If you open a new trade in the same pair, it combines (nets) with your existing trade instead of opening a separate one. Example You buy EUR/USD with: 0.10 lot Then later you buy again: 0.20 lot With netting: These merge into one buy position of 0.30 lots. If you sell EUR/USD with 0.10 lots: It reduces your position instead of opening a new one.
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what is leverage in forex trading? Replied 1 week ago - How Leverage Works (Step-by-Step Explanation) 1️⃣ You put in a small amount of money Example: You deposit $100. 2️⃣ The broker gives you borrowing power If your broker offers 1:100 leverage, this means: For every $1 you have, You can control $100 in the market. 3️⃣ You can now trade bigger Your $100 can control $10,000 worth of currency. This does NOT mean the broker gives you cash. It simply means your trading power is multiplied.
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what's the meaning of no deposit bonus in forex Replied 1 week ago - You can withdraw profit made from this account but you cannot withdraw the profit made on a demo account. I'm sure you get the difference now.
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when do you use limit and stop order in forex trading? Replied 1 week ago - 2. When to Use a STOP Order A stop order is used when you want to enter only if price continues in the same direction. ⭐ You use a STOP order when you expect price to break out and keep moving. 📌 Buy Stop Example Price is at 1.2050 and you think if it breaks 1.2100 it will go higher. → You place a Buy Stop at 1.2100. This tells your broker: “If price rises to 1.2100, buy for me (breakout).” 📌 Sell Stop Example Price is at 1.2050 and you think if it breaks 1.2000 it will fall harder. → You place a Sell Stop at 1.2000. This tells your broker: “If price drops to 1.2000, sell for me (breakdown).” ✔️ Best for: Breakouts Trend continuation trades Momentum strategies Entering only when your level is confirmed
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What does a Buy Limit order mean to a forex trader? Replied 1 week ago - A buy limit ( aka buy stop limit) is a pending order you set when you want to buy when price is falling. It is different from a regular buy stop order so dont confuse the two. A buy stop order means buy when the price drops to my desired price but if for some reason price gaps/jumps over my specified price, dont buy at a lower price. This is kind of limiting right? A buy stop limit means buy when price drops to my specified price but if price gaps over my soecified price, still go ahead and fill my order in at the next lower available price than what I specified. I dont think MetaTrader has the buy stop limit (they only have the buy stop) but I use cTrader and I have attached a screenshot from cTrader showing you their buy stop limit, which is vry cool.
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How to fund forex account Replied 1 week ago - Open a Verified Trading Account Before funding, a forex broker normally requires: Your name and contact details Proof of identity (ID/passport) Proof of address Age confirmation (must be an adult for real accounts) ✅ 2. Choose a Funding Method Most brokers offer several funding options, such as: Common Methods: Bank transfer Debit/credit card Mobile money (in some countries) E-wallets like Skrill or PayPal (depending on broker) Each method has: Processing times Possible fees Minimum deposit amounts ✅ 3. Go to the Broker’s Deposit Section Inside your trading dashboard, you’ll find a button like: "Deposit" "Fund Account" "Add Funds" From here: Select your account type (e.g., Standard, Raw Spread) Choose a currency (usually USD) Select your payment method ✅ 4. Enter the Amount You type in how much you want to deposit. Most brokers have a minimum deposit like: $5 $10 $50 (varies) Make sure you deposit only money you can afford to lose. Forex carries real financial risk. ✅ 5. Confirm the Payment You’ll be redirected to a secure payment page to approve the transaction. Once approved: Cards/e-wallets: Usually instant Bank transfer: 1–3 days Mobile money: Often instant
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are forex signals on telegram really profitable? Replied 1 week ago - Signals are not bad but how can you be sure the person giving you the signal knows what he is doing? Many of these signal providers have partnership deals with brokers where they earn commissions when they refer you to trade with these brokers. This conflict of interest can make the signal provider send you a high risk signal because they want you to trade a bigger lot size so they get a bigger commission. I dont do signals but if i must subscribe to signals I will ensure the person giving me the signals is not benefitting indirectly from my trades. There should be no conflict of interest. Ask yourself this: did your signal provider ask you to register with a particular broker? if your answer is yes then run.
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Is copy trading the same thing as social trading? Replied 2 weeks ago - Wow, this is totally a great development. It will bring a level of sanity in the industry.
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which samsung phone is best for forex trading? Replied 2 weeks ago - 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.
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opening my new forex account, what base currency should i choose USD, EUR, GBP or Local? Replied 3 weeks ago - I prefer using my local currency, it saves me the stress of conversion.
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can a forex trading account function as a savings account? Replied 4 weeks ago - Some brokers can even close your account and give you excuses as to the whereabouts of your funds. Especially poorly regulated brokers
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