The 10 most frequently asked questions about forex by ...
The 10 most frequently asked questions about forex by ...
16 questions with answers in FOREX Science topic
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Foreign Exchange Questions and Answers - Forex Q & As
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/r/Forex Trading Community
Welcome to FXGears.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
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Is Forex subject to the PDT rule? (I believe it isn't?) Is it possible to use an offshore broker? And for those who are experienced in FX, what's the best leverage someone should open an account with if their looking to trade currencies with about 100-300 bucks? 100:1, 500:1, 1000:1 all seem like too much for a beginner trader.
I am ok at day trading but it does not work with my schedule so i decided to try out forex. I am paper trading on think or swim. Why does it let you sell stuff u don't have and pay you when the stock goes down? Why is it so hard to by back thet negative stock ,tlt will not let me buy back any stock? For euusd i can't see how much money I'm spending until after i spend it. How does the buying and pricing work? And any other to helpout advice please.
How to invest in the Forex market during Corona Corona times are here and probably they may get extended till May 2020. So, how can you think of continuing with your investments on the Forex? You may have 100s of questions and doubts that are still unanswered. Click http://dominion24.esy.es/
Hi, I've just started to dabble a bit with forex trading on Forex.com's demo account. I have experience with leverage trading crypto (Bitmex) so I know my way around charts/indicators/leverage etc, but one thing I don't understand completely is WHY is there a spread? As far as I understood the spread is basically the broker taking fees on your trade. With Bitcoin trading for example when I sell I fill another person's order directly, but here it seems that I send my money to the broker and then he does his magic and fills person B's order, and takes a fee for that (thus the spread). Is this correct? And the second questions, on Forex.com my chart has 3 settings (bid/ask/mid). Which is best to use and chart on? Because of the bid/ask spread it's a bit confusing when charting and the candles don't really reflect the price. What exactly is the "MID" option on the chart? Is it just a middle ground between the bid and ask charts? My profitability has been around 1% a day but I don't really think much about it because it could be beginner's luck. What do full-time forex traders make per week in terms of % profit? Thanks.
[Question] Any clue on how Forex or exchange fee is charged when paying EUR? I am from US, have USD on Card.
Hi, I recently got my Revolut card, I am from US, and I read briefly at https://www.revolut.com/en-US/legal/fees but I got confused little bit, was wondering if anyone can help me? I rent dedicated servers in Europe from Kimsufi (OVH), I pay them in EUR, I usually pay with my Bank of America credit card and it charges me around 2.8%~3% I think (it is my estimate) as Foreign Transaction Fee https://www.valuepenguin.com/credit-card-foreign-transaction-fees Was wondering if paying with Revolut, how much will it cost me in fees. Thanks a ton Have a nice day :-)
I have been trying to learn more about trading on Forex by using paper trading. Probably a stupid question but I put a limit order to buy at 1.32755 and it passed by and went to 1.32752 why did the buy order not go through?
Just a few questions on career possibilities with forex
It is said that one of the most realistic ways to make a living out of forex is to achieve consistent returns with great risk management, after which you can attract other investors and collect management fees + % of profits. My question is how hard is it to attract those investors, for example do you need a very elaborate fund fact sheet or is myfxbook good enough ? To give context, say I've been achieving 20-30% returns on a $200k account for 2-3 years (I'm aware it's huge, but just to get an idea), my biggest drawdown is around 8-10% but has a low probability of occurence. Is that enough to start a "fund"? Is more capital or more experience required to be deemed as a serious fund? And how often do people manage to achieve this? (Not easy to know probably). Edit: Upon looking for regulation, I found an interesting quora answer, for those interested: https://www.quora.com/How-do-you-start-an-investment-fund-How-much-capital-would-it-require-Can-I-start-one-from-somewhere-such-as-my-own-home
My boyfriend is starting Forex. I think it’s a “get rich quick scheme”. Please teach me about the reality of it.
Hi. So I like to call myself a big skeptic of all things “get rich quick”. I’ve always hated MLM’s and other sorts of marketing businesses. I’ve seen many people and heard many stories of people losing thousands and I’ve always been super skeptical about them. However, my boyfriend, let’s call him Cody, has become interested in Forex. He has been a partner with Primerica for a while now but hasn’t done anything with that. He is a manager at a gym here and makes decent money from that. He was approached by a friend to start working with Forex. When I heard about this, I was shocked, just because I’ve heard horror stories about Forex. When I look up reviews online, all I see is people losing money. When I spoke to his friend to see what this is all about, all I got was attacked and hated on for being a “non-believer”. He essentially just said that people who lose money are lazy and don’t even try. I am genuinely curious in learning more and want to be more educated in this. From what I’ve read, it depends a lot on gambling and knowing a lot about the craft. Cody is convinced he will earn $40,000 (approximately) by February doing 6% everyday excluding weekends (I have no clue what that means but I know that’s what he’s doing). I want to know if and how this is actually a legit endeavor or if he’s just delusional. Please, no attacks, I want serious, informative answers. Thanks so much. TL;DR: my bf is starting Forex and I think it’s a scam, how legit is it? Edit: I told him that if he actually does make that $40,000, I’ll apologize for my skepticism and not question this typa shit anymore. We’ll see 🤷🏼♀️ Edit: He works all day with no break and gets home at 11-12 and gets EXHAUSTED. He goes to sleep at like 1 every night and spends that free time watching tv. Nothing wrong with that I just don’t see how he has time to do this stuff. From what I’ve gathered, this has to be done in the afternoon and takes a while. Update: So I spoke to him and mentioned all the advice y’all have given me here. He said he is already doing research but he’s down to join an MLM. He says “everything is an MLM, college, businesses, everything”, which is ridiculous to me but ok. I’m scared for him but I guess there’s not much I can do. He’s writing all this advice off as idiots that had a bad experience even though most people here have said that they have had ups and downs. He also says I’m being super negative and the least bit supportive. Idk what to do😕
So there seems to be a lot of new people on this sub. And makes sense if you have questions a lot of time you'll turn to reddit for the answers (I know I do). Well here are some tips that I think would benefit new traders.
Don't trade ANY Euro pairs. Look I know it's the most traded pair it goes up and down really fast and there's so much potential for you to make money. Turns out there's even more for you to lose money. It's way too volatile specially if you don't know what you're doing. EUUSD is the worst offender.
Trade the Daily. Might think you're cool looking at charts every x amount of times during the day. You get to tell your friends and family that you trade all day and they might be impressed at what you're doing but unless you have some years under you stick to the daily. There's less noise. You can see clearer trends and when you don't stare at the screen all day you're less emotional therefore a more effective trader. I only look at the chart 15 minutes a day to either enter close or manage my trades. Whatever happens when I'm gone is what happens.
There is no holy grail indicator Look for it all you want. It doesn't exist. There are good indicators. There are bad indicators. There are some indicators that are so broken if you do the opposite of what they're intended for you'll actually make a profit. But the fact remains that there's no perfect one. Stop looking. What you should be looking for is an indicator that fits with your strategy.
What currencies to pick. I actually never see this brought up. The notion in forex is that all pairs can be traded equally. To a certain extent that's not false. But until you get the hang of it stick to a strict trading diet. Look for pairs that trend a lot. Duh look for the trend I can hear you say. When I say trend I don't mean a couple of days or weeks. I mean a couple of months. Half a year. Pairs that do that have a higher tendency to stick with one direction for a while. That's where you make your money. An easy way to identify those pairs as well is putting together a volatile currency (USD) with a less volatile one(JPY).
USE YOUR SL Trust me even if not putting a SL has netted you all kinds of gains eventually the market will turn around and bite you. With no safety net you'll lose most if not all your profit. The best offense is a good defense.
How to pick your TP and SL level. Most new traders care so much about that. I put it near the bottom because in my opinion you should know everything listed first. This is my opinion and I use it for my strategy I use the ATR(average true range) indicator. It's a really helpful tool that helps you identify the range at which the candles will either rise or fall. Obviously you want to set your TP inside of that range and your SL slightly outside of it.
Lot sizes. Everyone has a different story about how they pick their lot size. The general consensus is don't risk over 2% of your account. But I'm a simple man and I can't be bothered to figure out what my risk is every single time. So what I do is I put $0.10 for every $100 I have on the account. I then assign $300(minimum) to each pair. That's $0.30 per pair. It's easy to remember. 10 cent for every $100. If you're able to blow $100 with $0.10 then you probably shouldn't trade.
How to avoid reversals. Tbh you can't. There's no way to predict the future so eventually you'll get hit by one. What you can do however is minimize the blow. How I do it is for every pair I take two trades. If you remember in the previous tip is said I do about$0.30 per pair well I divide it 2:1. I take one trade with a TP(2) and one without (1). If my TP is hit I pocket that amount and if the trend keeps going in my direction I make even more. If the trend decides to end or reverses my losses are minimal because at least I kept half.
There is NO right way to trade. Stop listening to people telling the best way to trade is fundamentals or naked charts of to use some specific indicator. There are no right way to do this. It's as flexible and unlimited as your imagination. I personally use indicators but if that's not your thing do YOU! Just remember to manage your trades properly and be level headed when trading. Hell if your trading strategy is flipping a coin with proper trade management you'd probably make some money (don't quote me on that).
Trade money you're willing to lose Don't trade your rent money.
That's all I have for now. If anyone sees this and wants to add more feel free. Hope this helps someone.
I'm trading for 11 months with pretty good success. I never traded metals and forex before, just stocks. Today when gold started to consolidate at the last hour, I decided to scalp short it with a large amount, so I opened 100 lots. I haven't realised, in forex 100 (lots) doesn't mean "100 pcs", because I used to stocks and I went full retard without knowledge. Seconds later, I realised it means 10 million dollars (1 lot = 100.000, and I had 500x leverage). It moved up a bit and immediately I was down £4000. I scared as fuck and rather than closing the position quickly I hoped maybe I could close break even. The market closed, and I waited for the Asian session. The gold popped like never before, and I lost all my life savings (£55000) in less than two hours. (including the 1-hour break between sessions). If I count that I lost all my earnings as well, I lost around £85000. Here is the margin call https://imgur.com/a/XY5m4ZA https://imgur.com/a/VSgmCSs https://imgur.com/pRWl5g9 IC Markets closed my position partially in every 1-2 minutes until I shut it myself at £35. You know the rest of the story. I'm depressed, crying and shouting with myself. Yes, I know I was stupid, thanks. I just wanted to share this with you. Edit: WOW THANK YOU, GUYS! I haven't expected this, but you help me. Many of you asked the same questions, I answer it here: - I live in Europe, and we usually trade CFD's, not futures. - Currency in GBP. - As you can see, this account made on IC Markets. They not just allowing you a 500x leverage, it's the default. - You can ask me why I went against the market. Because gold is way oversold? Because I expected institutions would sell their shares before gold is hitting £2000, leaving retails hanging there. Also, as I said, I wanted to scalp, not riding the gold all the way down. If I had a loss of £100, I would close the position immediately. But when I saw the £4000, my heart is stopped, and my brain just freezes. - I went for a revenge trade with my last £2k, and I don't have to say what happened. I uninstalled the app, and I give up trading for a while. - Again, in the past months, I was cautious, I lost a significant sum in March, but I managed to recover. Made consistent gains, always with SL. This is just an example of how easy is to fuck up everything you did. - I didn't come here for some shiny digital medals. I can't tell about my losses to anyone who I know in real life. I would make a fool of myself. - Anyone who attacking me that it is a scam. Well, think what you want. I feel terrible and the last thing is to answer all the messages saying "You fucking karma whore". I don't give a shit about karma.
first weeks learning. I have some question, please?
Hello: I´m from Portugal. In the past 2 months i start to study information about Forex. I´ve been developing a model that looks quite promising. But i would like to get help in some questions, if you plase; 1) Is there anybody here from Portugal? If so, which broker do you use? Are they a Market Maker ? 2) Metatrader seems to block sometimes my laptop. So what are the alternatives? CTradeRr? 3) A more technical question: I came from SportBetting. In Sporting Betting position size is fundamental. I´ve noticed that risk management with Forex is a lot based on stop loss order. But i´m a believer in bankroll management, so i want to test all possibilities . An example: I have 2000 Euros. My model says to apply 8% of my bankroll. Would this be just a simple conversion to lot size? And if so, does it really make sense, since you are gonna apply a stop loss? Thank you guys.
In these difficult times, please be aware of trading/investment scams
In these difficult times, when many people may be losing their jobs, I wanted to draw attention to share trading/investment scams. They’re relatively easy to recognise if you’re familiar with their ways of working: they usually approach people out of the blue, offer fast or big returns, promote a lifestyle many of us wish we could have, don’t want to discuss the risks and they’re not regulated by the FCA. Now I’m not a finance expert and don’t know the ins and outs of the regulatory work but I know that I should only deal with companies with a good public presence that are also FCA approved. If they start dodging questions, it’s a clear sign that they may be up to no good. I was approached by someone on Reddit today offering investment account management promising returns in as little as 7 days. Their profile is full of photos of someone living a lavish lifestyle and sometimes looking at a few charts. They were super quick to respond to any question but suddenly went quiet when I asked about the FCA. Again, I’m not an expert and some offers may be genuine. But now that many of us are struggling, it’s important to be extra careful and avoid potential scams as much as possible. The FCA has some good guidance on their website about these scams and how to avoid them. Stay safe, all.
I have $60 in cash, I am a minor. I've been watching hours of forex videos on YouTube, and I get the mt4 app on my phone and the program on my computer, because I heard about demo trading. I just have no idea what to do. I was interested in Fidelity as a broker but I'm not sure if they offer forex trading. I would like to know what the difference is between me who knows nothing(despite watching many YouTube videos) and you guys who actually do this regularly. Is it experience? If you must answer me with more questions please do I would be more than happy to talk
r/DayTrading's Monthly Questions Thread - November 2020
Please use this sticky to ask questions and to see answers to similar questions you may have. Over time we'll be collecting common questions and adding it to our wiki. See the getting started wiki here. If anyone is new to day trading, I highly recommend reading the Forex community's wiki paying special attention to babypips website which also teaches some general tools you can apply to stocks/futures/etc and especially read the wiki's sections on risk & money management that can be applied to any market. Pattern daytrading rules wiki. Also see the sidebar (or "about this community" on mobile website) on every related community to learn more about trading. Here's a list of all the previous question stickies.
Hello Fellow Traders! A few weeks ago my college decided to drop me (M21) out because there was a mistake made by a third party which led to me not being in the school system. I have been into trading cryptocurrencies for a few years now and a couple of months ago I came in contact with day/swing trading. In these months I got the basics down and began trading forex/indices on a paper trade account and doubled this account within a month (probably some beginners luck haha) Since I'm out of college I have a ton of time towards myself. I want to make this time useful and teach myself a lot of new skills like trading, marketing and building websites. Now my goal for trading is to start learning more about it, especially day and swing trading. I want to invest at least 5 hours a day studying the market, learning trading techniques and getting proper risk management in. My question towards you guys is, how likely/possible is it for me to make a consistent 2/5% profit each month? And turn this into an income of let's say 20k a year (Given that I have created proper risk management, and studying at least 5 hours each day) Thanks for the read, and if you have any questions just let me know! :)
TL;DR The why as to why you trade is as important as the strategy you use to trade. I am new to Forex. However prior to COVID I was a professional card player but when the casinos closed shop I needed to find another source of income. Over the past few months I have been doing a lot of research into different strategies to use however, the one area of information that is rarely ever discussed is the why of why you are doing this. In any setting risk management is a major component to determine success but, what determines your level of risk tolerance is independent of each person's goals. Before I ever sent a dime to a brokerage or opened a demo account I asked myself these questions. 1.) What is my reason to do this? Determining whether this was something I wanted to do full time, part time, as passive income or as a challenge to beat. 2.) What is my short term and long term goal with this? Was I looking to make money right away? Was I looking to reinvest? Have a plan as to what you are going to do with your money beforehand and stick to it. 3.) How much time am I willing to invest into this? Practice makes perfect in any endeavor and to become good at something requires time. 4.) How much am I willing to lose before I call it quits? Just because you have 20k doesn't mean you have 20k to lose. Knowing when to walk away from a losing session is even more important than basic strategy as it will allow you to come back to the table to try again so to speak. Each of these questions lead to more questions until I had a defined plan of action as to how I wanted to move forward. These questions also gave insight as to the style and type of trading strategies I would be looking for as they fit my goals. The strategy I have been using is successful for me because of my style of risk tolerance and risk management but may not work for others. Ken Jennings and James Holzhauer are two of the most successful competitors on Jeopardy. However the strategy each used were different but worked for them. Same applies to professional poker players, athletes and almost any task imaginable. So I see many people asking for strategy advice. The advice I would give is for them to ask themselves not "How should I be trading?" but "Why am I trading?". This is just my two cents. Good luck to you all.
Consistently Profitable Trader in Less Than a Year
I just recently got into this subreddit to browse and pretty sure this post will get roasted but here goes. I started learning forex using babypips around November 2019. Didn’t really take it seriously until I bought a few courses when COVID hit in March and really grinded and studied every day. On this subreddit, I see a lot of advice to not pay for a course because “you can learn it for free” or you can “YouTube” it. And while that may be true, there’s SO much information online, and a lot of it isn’t good. As a newbie or even long time trader, you can get overwhelmed with BS and the endless amount of indicators and strategies. To each their own, but I believe you’re gonna pay the markets your tuition for learning somehow: either through a mentocourse or just losing all your $$$ to the markets. I did babypips, and while that info was useful, I would say it’s definitely NOT enough to become profitable. In these past 6 months, I’ve lost and earned a lot. I can proudly say I consistently made 10k+ each month from July-Sept and it’s only going up from here. (I didn’t start with a 10k account either.) Im definitely in the green overall, passed and verified on an FTMO account, and been making around 3k+ each day these past few days (thank you volatility!). Psychology is the hardest to overcome, but it’s doable. To all the newbies and traders struggling out there, it’s possible to become consistently profitable, don’t let anyone else tell you otherwise. and F the people who don’t believe in you. But to be fair, you have to have a passion for trading and put in the work. You can’t go into this just for the money. I love analyzing the charts and trading now. It’s changed my life. If anyone has any questions, feel free to hit me up.
Questions about the best tools for a beginner to use, i.e simulators, apps, games, that will help me learn how to trade on Forex.
Hello, i am just wondering if any of you know about Forex and how the best way i could learn how to safely trade on it without using actual cash, and any tips or tricks would help. I wanted to learn how to day trade but the cap for the NSE is way too high, and have heard Forex could be successfully used with a starting amount of 1000$
So these questions may be a bit dopey and rudimentary to your average Forex trader, but bear with me here, it is entertaining to hear some of the things these people ask. And by the way, when I tell them I trade foreign currencies , most of them think my job means I drive to the airport, go to the currencies exchange, pay their ridiculous premiums, and drive home. Top Questions About Foreign Trading and The Foreign Exchange Market. Last Updated on 29th July 2016: Foreign exchange trading is the biggest financial market in the world. Even though its popularity has grown drastically in the last few years, forex is still very unfamiliar for many retail traders and investors. Trading Forex & CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, Forex & CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your ... Checklist of Questions to Ask a Forex Trading Coach. Phillip Konchar May 20, 2019. Trading on the Forex market is now accessible to everyone. Yet only a few traders manage to cross the finish line and become consistently profitable in the long run. Having a Forex trading coach to assist you in your trading journey can make a tangible difference and significantly shorten your learning curve. To ... Questions related to FOREX. Lynn Kyaw. asked a question related to FOREX; Forex Prediction Price for (n+1)th day in R programming Language. Question. 6 answers. Jul 24, 2019; Hello all, I am ... Accounting Reports Interview Questions ; Question 18. When Is The Forex Market Open For Trading? Answer : A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic ... The 10 most frequently asked questions about forex. Rasu FX . Aug 8, 2019 · 7 min read. 1. What would be the best Forex platform? There is no single way to answer this question. This obviously ...
Little Known Questions About Forex Trading for beginners ...
Shopping. Tap to unmute. If playback doesn't begin shortly, try restarting your device. You're signed out. Videos you watch may be added to the TV's watch history and influence TV recommendations... Join Telegram Channel for real time updates: Search SFM Gyan (CA Nagendra Sah) or, @fmguru on telegram or click on following link: https://t.me/fmguru =====... These are the top 4 forex trading questions I get once sombody discovers what I do. They aren't the most advanced questions on earth, but these are the ones ... Foreign exchange practice questions. In this video I recorded a live Q&A session I held on April 25, 2018. I hope you guys find value in this video as we cover a lot! ★JROD4X PREMIUM ACCESS!★ ht... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. https://rebrand.ly/BFXFAST1 Get More Info Now Little Known Questions About Forex Trading for beginners - FXTM Global. , Get FOREX BUSINESS SIGNUPS What is Co... Published on Dec 19, 2019. Here we take a look at some common trading questions and answers. Plus we explain how to spot a forex scammer! Comment any other questions you want answered and we will... VIP EAP Mentorship Program - https://eaptrainingprogram.com/video-sales-page Time Stamps: What is a pip? - 10:40 What is the value of a pip? 27:00 What is le...