Forex Beginners Questions and Answers Board


How it works?

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- We answer it!

The whole 3 step process takes from 3 to 5 days.

...Oh yes, we don't require reviewing already submitted questions before adding your own.
Go ahead, ask whatever you have in mind, it is that easy!

Find and track your question later in the right column under "Recent questions"

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Recently
Received and Pending Questions


1. How do set the limits/stops when I trade a specific pair.
for example the usd/cad @ buy 1.11934
for example usd/cad @ sell 1.11894
Please advise....

2. Can u tell me what to do as soon as i open my Meta 4 platform, should i enter the stop loss and take profit, or not please help idaraxx_08[at]yahoo.com

3. Many people asks especially why the currencies pairs are traded?? why not like single currency? ie EUR, USD, GBP JPY CHF etc... are these single currencies can be traded?? why there linked with pair? eur/usd gbp/usd etc.....?? pls let us know...

4. I have really problem with leverage and margin meaning and its use.I'll explain my problem with an example:
1-I have 2000$ USD in my account and I always prefer to open my positions with 0.2 lot(I've worked in Demo). Could u plz tell me the difference if I have this account with 100:1 or 20:1(or even other options)? which one is convenient for me? and why?

5. If used margin is 100$USD, what will happen to the open position if loss is more than 100$USD (-100).Will it be closed automatically with 100$ loss? thanx

6. Please I'm new to forex trading still battling with my Demo account,my question is,what do I do assuming I entered buy as my opening order and the price goes high,do I have to press sell to make profit or do I press close order to make my profit.I'm totally confused over what to press to enable me grab my profit,please help me out.Thanks.

7. I've just got confused about margin! With a 1:100 leverage, the required margin for a 0.1 lot EUR/USD @ price 1.4850, shouldn't be $148.5??
So why my demo account show $100 margin?

8.Please could u answer my questions?

1)Why between 11 and 1pm London time price tends to reverse nearly everyday?

2)Why between 7 and 8 am London time price change direction?

3)Why around 5pm London time price reverse again?

4)How the floor traders influence the prices of the forex market?

5) How to anticipate if ever possible a big sell off or a big move up?

6) How big institutions play the forex market? How do they place orders?

7)What really makes the price of a pair to change direction? Is it just news? Traders sentiment in that moment? Floor traders manipulating prices? It cannot be just supply and demand because it happens to often those reversals at nearly the same time every day. Maybe is it the so intriguing Elliott Wave?

8)What extra knowledge should I have in order to know the price will very likely reverse at Fibonacci levels?

If I could combine Fibonacci with the missing parts of the puzzle (my questions above) I am sure I could be a better trader because I would have the odds in a much better favor.

Please anyone willing to answer my questions?

9) I am new to forex. What is meant by: when I buy a currency I sell the other, how I sell the currency where I have not owned it. . The other question is: when selling short do I in reality borrow the other currency. Thanks

9. Dear Sir
First of all a big Thank You for this marvelous site.
My qyestion is?
I wonder if there is a site that would do a daily Forex screening telling Us for istance the Lowest or the Highest RSI for the past week,daily and hours of all Currencies in the same way as screening Shares? If there is could You please recommend a good one?
Thank You very much
Alan

10. I have a question, what does this statement means?
"Check Market Depth to look for either a 2:1 imbalance favoring the BID or neutral bid/offer balance. "

Thank you.
anil

11. Dear Sir.
Last week I asked if there is a site that will screen Currencies like is done in shares.
I give an example.
Screen all the RSI 5min.oversold currencies.
Or RSI 5 min. overbought currencies and so for 30m 1H and so on with other indicators?
As I didn't get an answer yet I wonder if it was a stupid question to ask or it is not possible to do this sort of screening with Currencies?
Thank You very much Sir

12. l trade 1 hour chart and use stochastic. What properties are required for this. l just read that 5 3 3 is ideal for 15minutes chart. JIDE.

13. instead of stop loss order can i use hedged pairs like eur/usd usd/chf eur/chf and similar combinations?Thank you.

14. There are so many indicators, what 2 or 3 match well together for conformation? fib, atr, macd,bb, and so on. I figure if I can add 2,3, to my trading system now it will help confirm trades.Want to keep it simple as possible. I am scalping now by the way so what would work best with thinslice trading Steve Rising..

15. Dear Sir/Madam,
I am writing to ask you, as an expert in Forex, to clarify with the real example about "calculation of Forward exchange rate in 6 months period" and please raise any cases if you could. Thank you so much for your kind assistance and cooperation. Note: please send the answer through my mail: sovanna_boy()yahoo.com
I am looking forward to hearing from you as soon as possible.
Best Regards,

Hai i am new for forex trading and using win trade demo my question is what is difference between meta & win trade can you explain it which one is best?

How is a profit or loss calculated on a currency pair within a mini account and a full lot trading account?

Hello

I am confused about buying and selling Forex. Please can you help?

For example, GBPCHF is currently trending down (the graph is trending down), which
shows that CHF is stronger than GBP. My question is therefore whether I BUY or SELL
CHF to make a profit? I think I am confused by the concept that I can make money by
buying a currency that is trending down. Have I got this right? It seems counter intuitive?

Many thanks

wher can i get free risk calculator

first of all hai,
sir/madam,
what is the margin call? how can calcuate it?

Hello my name is Amos. Just to say a big thank you for your great informations to the new forex traders. My question is, How do I increase my take profit before it get to the T/P level previously set. Kindly analyse it with examples. Many thanks.

Is it more profitable to be a intra trader instead of long term trader?

I wonder why would anyone want to spend more time on forex than someone else unless they make more money then.
I've read a few books where they talk about chosing time frame but no one mentions what is more profitable.

If I'm trading at a hourly time frame will I make bigger profits than someone trading at a daily time frame on same currency and if they are equally good traders?

The NY market opens at 8:00amEST with their opening bell at 9:30amEST...how are the other markets mornings handled? I can't seem to locate any information - leading to speculation so...we need your confirmation! Thanks for the help! Mare

I would like to trade on a 5min or 10min timeframe what 3 indicators would be best for those times as a short term trader and what longer term tf would I use to identify the current trend

thx j

how do i know that the pivot point is buying or selling?

how many types of candle sticks do we have in forex, and what are they and how do they look like?

i don,t get it right?

GBP/XX is London season?
USD/XX is US season?
JPY/XX is asia season
AUD/xx or NZD / xx is sydnes season?

so EUR/XX is????

confuse with time zone

Is there any difference between the performance of a demo account and a live account on the MT-4 platform? In other words, is there any behind the scenes manipulation by software that sets up changes in the price action on a live account that would cause you to lose money.....as opposed to a greater success on a demo account?

Whích are the capitals of Forex trading?

WHERE CAN I FIND EMA ON MY TRADING PLATFORM?

what defines a SWING??? ive heard a retracement of at leaast 10% followed by ne lower low or higher high respectively ..ive heard at least a2 candle retracement followed by lower low/higher high?? what is the true defintion of a swing???? thanks

I want to know about surf trading . how dose it work?

with 200 dollars what should be my lot size to trade with

please could you differentiate between buy stop and buy limit. Thank you

if I invest $50 in forex how much risk?

please how do i get a trading alert, the exact time on my phone 2348033000586 an

what are the most accurate or 90 percent indicators that most traders used!!!....

which sma should be used in 1 min chart
for good trading

hello where can i find a good broker

How do set the limits/stops when I trade a specific pair.
for example the usd/cad @ buy 1.11934
for example usd/cad @ sell 1.11894
Please advise....

i want to take forex trading as part of my career, how can i start? please post answer to e-mail adetayodare644@gmail.com thanks

WHAT IS STD. LOT SIZE OF XAUD IN FOREX SPOT GOLD.

what is swap?

...

I'm thinking of going into forex trading, so i'll like to know if i should have any special knowledge before i can start trading.
...

Thank you so much;
What is the benefit of the leverage to a trader and is there any profit/loss sharing betwn a trader and the broker?
Best Regards. Owolabi-Nigeria

Help me, I'm new to forex in general. I don't understand what High, low, open, and close means. Can someone explain to me. I want to begin on technical analysis and i don't even the stand what the bar chart represent!

hai......... now i will buy the EUR/USD pair. any problem in the situation

Is there an indicator/software that will give an audible alert when the hr candle has closed above or below a pre-set MA. Thank you.

I am a US citizen working in Switzerland and my salary is in Swiss Francs (CHF). Because I plan to exchange my Swiss paycheck back into USD on a monthly basis, I want to find out how to hedge against FX fluctuations.

The Swiss Franc (CHF) is at an all time high against the dollar. I want to essentially lock in this high FX rate for myself by buying an ETF fund that tracks the USD against the CHF. Ideally, if the USD goes up against the CHF, I will lose buying power with my salary but this will be countered by my ETF fund. Vice versa if the dollar drops.

My question is which ETF would best serve this purpose given I only have about $10k worth of cash to leverage against my $100K plus salary?

Need your help. I'm into Forex trading with an initial deposit of $1000. I want to consistently make 10% profit each month. I have made my first 10%, but not sure how to make the next 10%. For e.g: If I invest $1100 back into the market at the end of first month. After the end of second month I should be having $1205. But I'm only having $1200. It means it is only getting added. I don't know how to make profit percentage wise.
I'm a bit confused with pip, leverage and lots. Could you please explain with example. Thanks in advance.

How do I remove a trendline or a Fibonnacce

Trading inside candles . If I place a buy stop above the top of the inside candle and a sell stop beneath the low of the inside candle Will the sell stop act as a stop loss for the buy side and the buy stop act as a stop loss for the sell side of the trade?

has anyone tried or owns pipstiger Fx edu version?
it give excellent results in backtest with a drawdown about 20% in 2011

Hi, I am from India and i trade few strategies based to market opening times, earlier when it was not daylight saving it was all ok, but now i am a bit confused.
As i live in India it is GMT+5.30 and for eg.
London open i calculated as 6.30 pm in India, but now as it is daylight saving does it change the opening time.
Also, tell me will my broker also changes or adjust his time accordingly,
suppose i live in GMT+5.30 and my broker is GMT+2, so what time will i see for different market openings, like london,frankfurt,tokyo,newyork and sydney.
Thanks in advance

Dear Sir,

I would like to know the trade rise and fall by every hours,so where I can see?

Daily charts and time zones - how are charts calculated?

I'm curious to know what times are used for daily charts. I live in the UK so if I see the daily chart for, say USD/CAD it would be on UK time 00:01 to 00:00 right? but if I was in the US because of the time difference the daily chart would look different right?and what if it was EUR/USD ??? someone please explain! :)

Thanks

If I trade using only trend lines and price action in a 1hr chart, is it good enough? Or do I have to use another indicator.

Edwin

Can you trade the same currency pair more than once in a day?

dear sir,
my name is krishna frm nepal. plz will u hlp me,where to draw or where not to draw fibonacci retracements. -krishnazee061@gmail.com

I will betrading an account with about 30,000 usd and debating whether or not I should use 500:1 leverage or 300:1 leverage. Of those two, which would allow me to use less on margin? 500:1 right? yet if I changed it to 300:1 would my profits differ?

My goal is to keep the same proportion I am trading now but a higher lot and account size. I trade 3000 usd using 500:1 leverage at .01. If I had an account size of 30000 usd at .1 with 500:1 my used margin would be the same with the exception of adding a 0 to the end of each number right?

Ex) 3000 @ 0.01= used margin is about 2 right now
Ex) 30000 @ 0.1= used margin would be about 20? Would 300:1 increased the 20 to for example 30?

Is that correct? Im really jus confused on which of the two leverages would be better.

I am trying to build my own portfolio, but would like ideas as how to make some kind of system that makes my trades easy to see ( nice visual appearance )

The calculations/presentation of results must be in USD, but I must also have some kind of presentation in base currency...?

It could be in some kind of Excel or....?

As example :

Leverage 1:100

On account : 10000 USD

Buy 0,4 lot USD/DKK position made at "close" 10. November 2011 value when acquired.....? value today.......? gain/loss.......USD / % ? (presented both in USD and DKK )

Buy 0,5 lot EUR/CHF position made at "close" 5. December 2011 value when acquired.....? value today.......?
gain/loss.......USD / % ? (presented both in CHF and USD )

Buy 1,0 lot GBP/USD position made at "close" 12. December 2011 value when acquired.....? value today.......?
gain/loss.......USD / % ? (presented in USD )

As an extra I would like to be able to have a specific date chosen by me, where I can see all above positions with a gain/loss compared to todays value, just as if I had made the trade at that time.....?

Hope to get some help for this.

Best regards

Hi

I just have 2 questions that has been confusing me. Any help will be highly appreciated.
If for instance, I am looking to enter a trade at a specfic time e.g 10am US and my brokers server is set to GMT+1, does this affect anything at all. Can i just wait for 10am US or does the server make a difference?
Second question is about daily candles, from what Ive picked up on this site it seems that the common open.close for a daily candle is 00:00 GMT. so again, how does my brokers server affect this? Will this mean my open/close prices will be incorrect? how can i get teh correct values?

Thanks for your time!

Who are reputable Forex brokers. I'm using a demo account right now and I see the broker takes some xtra slippage both ways on every transaction. And the other day I had a position closed out when charts tell me my stop price point was never hit. Additionally I have a short position EUR/USD trending down as I had hoped; suddenly the price shoots up 20 pips and takes out my stop then immediately reverts right back to where the previous price trend was. Seems a bit felonious to me. Thank you.

How can i do backtesting in my demo account?

Whats a safe margin % level needed for your forex account to avoid a margin call during high volatility?
After all my positions are opened I have remaining 1800% margin level left, however I avoid all major economic news. In order to trade through everything, is 2200 ok? 2500?

Please What is Higher Tops and Higher Bottoms. What is Lower Tops and Lower Bottoms.

How long can I hold an order before I sell it? Thank you. Christina

What happened to the Indian Rupee, South African Rand and Brazilian Real on December 21, 2011 to make them drop so much. Who intervened and how?

sir, how can i apply pivot levels to historical data of gold

hello....will you help me plzzzz
which Asian currencies move in
the same direction relative to the dollar and why? Does it
appear that the Latin American currencies move in
the same direction against the dollar?

16.will u answer my question plz..
which Asian currencies move in
the same direction relative to the dollar and why? Does it
appear that the Latin American currencies move in
the same direction against the dollar?

waiting for your answer...thank you

Hello! I need a chart of the different sessions of the forex with the indian time.
Please help! Thanks.

What is my optimal money management if I'm risking 3% of my account balance? I'm starting at $ 100 micro account? Thanks

10 trades equaling 50 Lots, what calculations is this, please can somebody explains better

WHAT PAIR IS BEST TO TRADE IN THE NEWYORK SESSION?

? Forex trading expert requested to answer. In this strategy double trading is done for any single currency pair. Example : I trade usd vs cad and at the same time I open another trading account and trade at the same time cad vs usd ? This means when cad goes done I can take profit from usd and when usd goes down I can take profits from cad. I am told by a geek that this way any one of the two currencies will always be in position for you to take the profit. This tip is suggested me as a win win forex strategy. Can you share you advise on the same please.

If I want to deposit $27375 in somebodies account. How do I do it and with vat and commission how much money will it be in South African Rands ? I am using Standard bank.

dear sir how to calculate pivote point in mcx market and what will perfect time to calculate pivote point in mcx market please send your answer on this e-mail address
seerviprakash276@yahoo.in

How do I buy USD/SGD? Examp
le if the Buy Column indicate 1.2936 and Sell column is 1.2926. How should I as beginner starts it?

Hi. I find it difficult to demo with macd

Hello thanks for this website its my fast time to hear about this i actually watched a movie where the guy made 77million from this so that got me wondering can i star this forex trade open up an account and have many people work for me with the same account and is it really worth it??? I mean this forex trade thank you .kind regards

Hello thanks for this website its my fast time to hear about this i actually watched a movie where the guy made 77million from this so that got me wondering can i star this forex trade open up an account and have many people work for me with the same account and is it really worth it??? I mean this forex trade thank you .kind regards

Hi, I would like to know how is Forex broker different from a money changer. What are the differences in prices when we trade with them.
Thanks!

Hi, i often read advices on forex to use a long term time frame is rather than a short term during trading. In other words, using 1hour chart is better than a 15min chart. What I don't understand is that should'nt the price changes reflected on the short term chart also holds the same a for long term, therefore how could it be more riskier?
Thanks!

For starters, what do I need to start forex?

Hi, I have been trading Forex for the past 6 months and had been doing quite well by using Ichimoku system. TK cross overs and kumo breakout had given me good profits. It seems for a moment that I had really mastered the art of Forex. This month however, all hell broke lose. I had suffered heavy loses. All my earning + deposit and been lost to the market and had numerous margin call. After analyzing my failure, I found that during my loses, the market did not follow the rules of Ichimoku, nor did it follow the other indicators that I had been using. There were sudden surges in opposite direction to the trend, triggering my stop loss. I suppose these surges were caused by news breakout. I have vowed not to trade in volatile market and use shorter stop loses. My question is how can I identify and avoid volatile market before placing a trade. Also, how was I able to make good profits before these, where were all these news back then? Thanks in advance for your clarification.