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Happy to see more people joining the forex trading. Watch as many youtube videos as you can related to forex trading.

Normally it’s 1-5 pips in between two prices. Nevertheless, a spread can vary depending on the market’s condition or movement. Simply select a broker that offers you low fixed and variable spreads for minting more money and cover the fee. If your next question would be about the brokers, I trade...

So, you are saying that a trader must keep some money aside just to lose it.

Wouldn’t you want to trade with less operating costs and long term savings?

I traded 10K on USD/MXN with the pip value $0.08$ per pip. The average volatility on a mini lot turned out to be approx $85.60. Never thought trading exotic would be so cool and much lesser than what I traded with majors.

@Gleycooym How about the pattern recognition indicator to view the candlestick patterns on the chart?

There’s also a 1% risk rule for day trading which directly focuses on risk management. This basically allows anyone to prevent losses of about 1% on a single trade.

Any particular indicator that’s seized your interest except RSI? I’ve used this indicator for ages now and switched to MACD now with roboforex and fxview. It’s good too.

@cortney302 In case you’re new and don’t have a track record, you can base your daily stop on the losing trades in a row, or it can be a percentage loss. You can use either of these two or both.

I believe this spread is ideal only for scalpers where small trading is involved.

Yep go for zero spread accounts to know what the entry and exit levels will be when the positions will open.

That’s a red signal actually. Any mention about the dealing desk, you should know that you’re not dealing with the true ECN broker.

I’ve been making more money trading with ECN brokers like fxview and roboforex simply because there’s no middleman involved. I buy and sell the currency pairs without any delay.

Because the traders and liquidity providers are connected directly, the ECN brokers will never interfere. Best part is that the brokers will not be able to trade against the clients.

As far as I know Neal, STP brokers can trade against their own clients. But ECN brokers like roboforex and fxview are comparatively better by being in sync with their clients, not trading against them and making the process extremely transparent.

Firstly the prices are consolidated that makes the trading very seamless. Second, these accounts come with low spreads even during high volatility. I guess these are good enough reasons for preferring these.

Good for you but for the average trader like me, learning to scale up the position size is quite intimidating. It’s the fear of outsized and unexpected losses I guess.

Not really. Not all platforms issue a notification, but we traders can still view the free margin. Most of us simply ignore it, or are unaware and end up realizing this after the position is abruptly closed. All this while blaming the brokers for messing around.

I completely rely on a range of EAs for trading and it’s going well for me.

I think it is a real life oxymoron that an trader following automated trading is also a manual trader because you are absolutely right, both are not independent of each other.