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What useful knowledge would you like to gain from this forum?
What useful knowledge would you like to gain from this forum?
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Dislikedhi total noob here . I have been watching and reading about forex, and nasdaq Trading. I have become more interested in Forex, however the more YT videos I see I noticed more people have moved away from Forex. But there is some who make a lot of profit. I have so many Q's . 1: which broker to use? I have only $2500 USD and willing to loose all. lol i have signed up with Trading.com but am not sure if I still need a broker and cash account. Another important question to me is for how long do I watch the candlesticks or patterns before i get in a...Ignored
Dislikedhi total noob here . I have been watching and reading about forex, and nasdaq Trading. I have become more interested in Forex, however the more YT videos I see I noticed more people have moved away from Forex. But there is some who make a lot of profit. I have so many Q's . 1: which broker to use? I have only $2500 USD and willing to loose all. lol i have signed up with Trading.com but am not sure if I still need a broker and cash account. Another important question to me is for how long do I watch the candlesticks or patterns before i get in a...Ignored
QuoteDislikedNow for me I understand that for every pound I will get at the moment $1.2142. So if I buy 1000 pounds of USD I will get $1214.25 (1000x1.2142).
QuoteDislikedSo if I buy 1000 pounds of USD I will get $1214.25 (1000x1.2142). For now just forget Pips and Lots just straight forward exchange rate. Now say the Rate changes to 1.2146 and I take my $1214.25 and exchange it back then I should get back 999.67068 pounds (1214.25 / 1.2146). So I lose money.
QuoteDislikedVideos say you should buy and sell when the rate goes up to make money...
Disliked{quote} The reason you are losing money is because you are selling GBP for USD. When you press a sell button, you exchange 1000 GBP for 1214.20 USD. Now you have 1214.20 USD. The Rate changes to 1.2146, so GBP cost more now, that's why you are losing money. {quote} First BUY and then SELL when the rate goes up to make money. In your example you are SELLing first and then BUYing when the rate goes up.Ignored
DislikedWhat I hope to get out this forum are answers. YT videos and other websites are informative but when it comes down to active trading there is always a fly in the ointment. I am sure most of the questions I have will be very elementary but as with everything I have learned in the past 2-3 decades I have found that active forums are the best places to find answers. Plus the more I learn forums give an opportunity to demonstrate your knowledge by helping other who come along after you who ask questions that you might know the answers to. Anyways I...Ignored
DislikedThere are LOTS of trading videos where people talk and talk and TALK all day. Its like they make money with each word, there are SOOO many words they want to say. And yet they dont show you when to enter the trade and when to exit. Probably because they dont know. And probably because they dont do that. They dont trade, they are just talking heads. And people PAY good money for that kind of crap.Ignored
DislikedThanks BlaBlaFX So Im actually doing it back to front. Remember I'm in the UK So I first buy USD and then go to the GBPUSD and buy Pounds at the given rate. Then when the rate goes up Sell it back and get more USD.... Then Convert it back to Pounds?? Trying to figure this out in my head is making me dizzy lol. Im putting this into Excel and trying to see how I will make more GBP in my pocket lol.Ignored
DislikedI want to know how to start my OWN thread. It gives me this error. Sorry 714trader, you don't have the credentials required to access this page. If you can't post to a certain thread, you might be blocked by the thread-starter (learn more). If you believe you have reached this notice in error, please submit a contact form.Ignored