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Hey all! New to forex, have a question about risk management.
So I’m on track to double my paper account from 5k into 10k in less than 2 months. I am taking maybe slightly larger positions than I should, but nothing too extreme. My strategy is picking pivots, gauging the momentum, using top down to pick potential pivots, place a tight stop on one side, and then just letting the profits run as long as possible using 4h chart and placing stops as it continues to run. I have found this to have a low success rate but because of the profit to loss ratio being in the ballpark of 5:1 or more sometimes that I only have to win 20% of my trades. When In reality I’m doing far better than that. Getting close to 50% win rate. Maybe something like 30-40%. My question is, is 2 moNths doubling a paper account enough back testing to start with real money? Or is this too risky? Should I double it a second time before I risk the real dough?
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I'm new to the UK and I have a full time job (been working 2 weeks now). I have some American dollars (physical cash) that I want to exchange into pounds and deposit into a bank account. I have a monzo account. My question is: what is the most cost effective way of exchanging the cash? My feeling is that it would be through deposit with a bank with which I have an account? Either way, banks I have looked into are not currently opening accounts for new customers. Thank you
Unathi Kwaza RT from Rod MacPhail: Land and buildings are a great thing to sell to foreigners. They bring in forex. They pay rates and utilities. They visit SA and spend money. They can’t take it away. A goodly chunk of London and New York is foreign owned. About 1% of SA property is foreign owne...
I still remember the day when I new about Forex at the age of 17.The advertisements promise you as if you can become an overnight millionaire. First of all I did not have a credit or debit card to even make any transaction and I wasn't 18 to open an account, so I used to open accounts providing my age as 19 just because I always had some obsession about Forex and wanted to know what the heck it is. And now I sign up and see a ton of numbers just floating around my laptop's screen, it was hard to know what was it until I started to click on those little currency signs and boom a graph pops up, then I realised that it is just like the stock market and then you buy sell but I wasn't sure about the losses. So in short I started trading without any knowledge just demo experience, I made this big mistake just because I thought I am different and can make things possible, but in then the end I lost more than 3000$, for me at that time it was like losing a million dollars. I thought I am not good enough in this, my parents also forced me to stop it,my friends made fun of me, relatives everyone who knew my unsuccessful story. But guess what I don't like it when people say I am not good enough in anything, it motivated me to the point that I used to sleep only 3 hours and put the rest of the time obsessed with Forex, wanting to know the perfect strategy. And now I am here 21 years of age, making a killing through forex, proved everyone wrong. All of the people who used to make fun of me ask me to teach them about Forex. So in short don't give up.
(New to Forex) How does anyone make money from only profiting by about a 3rd of a cent?
For my entire trading career I've used crypto currency and never really looked into Forex. I only very recently looked into it and saw a video that went through one trade and in summary, it was like this: "I have a $100 account trading XAU/USD" "I just made around a 50 pip profit. Now my account is ~$650" I'm aware that this is gold but it is still very similar to Forex (I think, at least). By what I saw, the person trading only made about $1. So how did their account go up by $550?
So why do general, overall, long-term Forex trends change? (I'm not talking about News, Channels, Patterns)
I'm still confused why do the general, overall, long-term trends change, specifically Forex trends, about (4 days to several months). All I know that it's because of Big news, because of an oversold, overbought market in the long term and patterns. But this doesn't support or explain the idea that says more times the price chart hits support and resistance levels the weaker the trend is. When the trend is too weak to go forward because of that then What? The trend will change to a straight channel? But that's technically a trend change without news and/or oversold/overbought markets and/or patterns? Does that mean that the weaker the trend is because of testing, the more likely it is to change or what? Maybe I am missing something or I just don't understand. Does that mean that I should add the weakness of a trend as the fourth cause of trend change? I also do understand that the price is just a reflection of the mood of participants. But it does not give any explanation. I am asking because I found nothing on google and duckduckgo that could explain that.
New to forex, was hoping to be able to have some people to help me out or just talk to about it
Okay so, uh, I'm 14 and want to start doing foreign exchange stuff to make money, right now, I'm just practicing on a simulator, but I plan on doing it legit when I turn 15 (bout a year) but was wondering if anyone would be willing to give me tips or just talk about it in general
I am new to Forex, and I apologize for asking this basic question. When I am putting in trade I am only specifying volume by calculating Risk$/(10*SLPip) .... I have $50k demo account, nowhere I am putting how many lots I am taking out from this $50k to make the trade. I am specifying SL price and Take profit. Can someone help me visualize how much base currency I am tying up from this $50k?
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Forex News. Marvin Rowe October 12, 2020. 0 33 . All You Need To Know About Forex Signals. What is a forex signal? The forex signal refers to the points of entry and exit on a currency pair,… Read More » Marvin Rowe October 11, 2020. 0 34 . Which Are the Ways to Find the Best Signals for Forex Trading? Introduction Forex signal is the most significant tool for forex trading. The system of ... Forex news is an integral part of the trading process, and our goal is to provide you with the Forex trading news you need to be successful. Our daily Forex news is written by industry veterans with years of trading and reporting experience, so that you can get the information you need without the fluff. Read our Forex news now! Forex Brokers. Forex News. Dollar Steady vs. Key Rivals 11/12 ... Forex News - the fastest breaking news, useful Forex analysis, and Forex industry news, submitted from quality Forex news sources around the world. Forex Nachrichten. Neueste Nachrichten. Broker promotions Autor wählen. EUR/USD Preisanalyse: Fallender Keil auf 1H lässt Käufer hoffen. Der EUR/USD erhält Gebote in der Nähe der 1,1780, nachdem er sich von der 1,1773 erholte. Das Paar prallte gestern am. Weitere Nachrichten . GBP/USD Preisanalyse: Spinning Top vom Mittwoch zeigt die Unentschlossenheit der Händler über 1,3200. Der GBP ... Forex news from ForexLive. The fastest Foreign Exchange market reporting and analysis. Live Forex and economic news. Technical analysis, headlines, Live quotes. Forex News EUR is on the upside ahead of E.U. GDP Christophe Chevalier. Today 7:09 AM TRADE THE FOREX MARKET WITH GUIDANCE. Keep abreast of market opportunities in the FX markets with insights, actionable trade ideas and support. Open An Account . Asia Morning: US Stock Indices Closed Lower amid Declining Risk Appetite ... Real-time forex news and the latest trading updates. What you need to know now about the GBP, Dollar, Yen, Euro and minors. DailyFX ist das führende Portal für Forex News, Charts, Indikatoren und Analysen. Alle Werkzeuge, die Sie für den Handel am Währungsmarkt benötigen. FOREX-Yen claws back some ground lost on COVID-19 vaccine news. By Eimi Yamamitsu. 4 Min Read * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E. TOKYO, Nov 10 (Reuters) - The yen recouped some ... Investing.com covers the latest forex news in the currency market and breaking financial news stories.
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