N
Njunga Jomo
@njunga_22
Last seen:
3 weeks ago
Scalper
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I would say stocks/indices are more profitable because they can move several pips in a day. Currencies are utilitarian and only move when those who invested in stocks want to make an order
Well said! Traders searching for an edge can also look for repeatable patterns that happen at the open of trading sessions. For instance, the Asian session usually has low liquidity while the London session which follows has higher liquidity, so traders can watch for a breakout from the low liquidity zone to the high liquidity one.
Every time you seem very sure that the market will move in a certain direction, it ends up moving in the opposite direction. That confidence will make you increase your lot size, only for you to sustain a big loss.
Because it is the most basic type of option that anybody can trade with a retail broker. Vanilla is known to be a common flavor of ice cream.
If you cannot "sit on your hands" (mening if you cannot wait patiently for your setup while doing nothing)
Yes brokers allow you open more than one account. For example you can have an account for the MT4 platform and another account for MT5
It means price moved without trading taking place, so something else caused the price to move (such as breaking news, dark pool trading etc.)
I think ftmo free trial is a demo of what the actual challenge will be like. During the ftmo free trial, you must abide by all the rules that are set for those who have bought the challenge. If you are new to prop firm trading, a free trial like this will get you familiar with the landscape.
I used the hedging account type as a beginner because when I opened several trades they were displayed separately. This made it easy for me to understand what was going on. Any trade that was underperforming, I could easily single it out and close it. With netting accounts this is not the case as all the trades would have been summed into one big beautiful trade
It works fairly well but this depends on how you configure it. You need to have a good understanding of forex trading in order to configure it properly. Although it comes with over 140 ready made configurations you can choose from, those configurations may not match your risk management so its best you configure it manually.
Yes, the forex market is open on easter friday and easter monday but always keep an eye on the spread before you trade; it can be wide. From my experience it is better to trade on easter monday than on easter friday because you get tighter spreads on easter monday.
FXPesa is axctually a trading name, the real company behind it is UK based Equity Group (EGM Securities).
EGM Securities has gotten a licrnse from CMA Kenya to operate the FXPesa brand name so yes they are 100% legit.
FXPesa is also authorized by the CMA Kenya to offer Nairobi Stock Exchange Derivatives (Futures on NSE stocks).
However, where some people have a problem with FXPEsa is in their spread which I think is high and not too transparent.
Some also complain about their customer service. It depends on who you ask, for me they are okay but you need to be an experienced trader before using them.
100 Rand is like 5 dollars so yes, you can probably open a forex trade with that but you might want to stick to 0.01 lot size and also stick to trading the EUR/USD pair because its spreads are always lower if you have a good broker.
RCG Markets has a flat minimum deposit of 50 Rand across all their account types.
Both the account types with bonus and the ones without bonus, have the same minimum deposit of 50 Rand.
But there is a catch; the RCG accounts without bonus have higher leverage up to 1:2000 while the accounts with bonus have lower leverage pegged at 1:500 maximum.
See more here https://www.rcgmarkets.com/trading/accounttype
You can become a funded forex trader by signing up with a prop firm but the road to funding is daunting.
The prop firm will require you pay them fees (around 200 dollars) for you to undergo a test trading with a trial account. if you pass the test, you will get funding from the prop firm to trade with their funds.
However, if you fail the test (and you most certainly will) the fee is non-refundable and you must pay new fees to take another trading test.
This is the only way I know you can get funded as a forex trader.
HFM minimum deposit is $5 for their regular account types but for their accounts that have lower spread the minimum deposit elevates to between $100 and $250 which is too high in my opinion given that you can get better bang for your buck with other brokers of similar quality. For example IC Markets has a $200 minimum deposit but their trading conditions and spreads are way lower plus you get TradingView.
If you have to pose behind a luxury car to show you are successful trader, then chances are that you are not. Most of these so called richest forex traders in SA, are actually into the business of motivation. They just want to motivate you to buy their courses & keep trading but they are not in any way rich.
I believe some forex brokers are paying these guys to market and attract more customers; its no wonder these guys will always recommend a certain broker to you.
If at all they have any money, it is the money they get paid by brokers to do this marketing and show off online.
That's my opinion though, I stand to be corrected
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