Welcome FXGears' 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.
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As it says in the title: if you are new to /Forex or to Forex trading it is essential that you read the Sidebar and the Beginner's Info/FAQ first. 99% of all questions are answered within. Need a list of resources? Go to our List of Resources link. Looking for a chatroom? We have one! Check the sidebar. Also, please familiarize yourself with this sub's Four rules, found on the sidebar. Thank you! THE MOD TEAM
Complete beginner here with a question about Stop loss and Take Profit
So i'm a complete beginner (couldn't find a job due to the Coronavirus thing so here i am) . And i've came across that article that says that you should not risk more then 1% of your account on a trade and you should to get a 1.5-2% profit. Now i've been testing out a scalping strategy on with Paper trading and they gave me a 100,000USD demo account. So i've been putting my PIP value as 1000USD and i've put a stop loss of one PIPS and a take profit of 2 PIPS on each trade. So far this seemed to work for me and i managed to profit like 2000USD with it (but i lost all after i tried some wacky ass 1 Candlestick strategy from youtube :P). So my question is if this is a good approach to have for Scalping? (Just for the record, i use a combination of Support and Resistance with EMA and the Fibonacci tool for that strategy)
Noob in the market has a question regarding; Flash crashes and what to do (tips) in such a situation and how to deal with them? Also some 'broker'-related questions included.
I'm a noob in this market and I found out there are huge flash crashes in CHF. It worries me, that something like that could happen to me and that it could do more than just make my trading acc go to zero.
Are these flash crashes normal and should I avoid trading pairs with CHF?
Which currencies don't get artificially pegged by central banks like CHF?
Can you protect yourself in a flash crash?
I use 1:30 leverage (max leverage, on FxPro), could my account potentially go negative in a flash crash. They claim to have a 'Negative balance protection' policy. They say I can't go negative with my acc. I've also heard many other traders (in different forums) say its all bs and those policies are just marketing tools, could this be true?
Stoplosses don't work in a flash crash, right?
I'm tending to grow a small account for this reason, so I won't beat myself for losing all the deposited money. Are there any other ways of trading to survive a flash crash, would like to know that because plan in that these flash crashes could happen anytime?
What to do in 'Worst case scenario'; having made a buy trade and suddenly a flash crash makes the currency pair drop 30k pips with a stoploss and my trade goes negative 6-figures. The brokers says: "Pay back that money, or we'll chase you forever". What could you do to get out of that kind of scenario?
Hi everyone. Im currently active duty Infantry in the United States Marine Corps. I found out about Forex thru a mutual friend that seems to be having alot of success from it. Only thing is that he is a civilian and has plenty of time on his hands which is something i dont. Im just curious to know is it possible i can have success from Forex due to my service? Be completely honest with me, all feedback is welcome. I just dont want to waste my time with something that i have no chance at doing. Im an eager learner and am willing to dedicate some of my spare time to this if its possible. Delete if not allowed.
I am using a demo account and the numbers are way off when I look at trading view charts. For example on the trading view charts it shows EUUSD 1.13400 While on demo account metatrader 4 charts shows EUUSD 1.3080 Any thoughts to why this is? Is it the cause the demo account? Is live account more accurate? Thanks for any help.
Good evening to anyone. Another newbie here going through Babypips, Lehman pdf, and several books recommended in the FAQ of the Forex Reddit. I am particularly happy about entering this amazing world, as i have always been very interested in both finance and economics. I would like to know if you would recommend any particular broker for a demo account/ for beginners? I would like to start "playing" a little bit with everything I have theoretically learned in the last weeks. Hope to keep you seeing all here. Luck and money to all!
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