Recent content by PhoenixJ

Sure thing. It's a risk management rule. Never risk more than 2% of your trading account on a single trade. You're not gambling! You are trading, so I think having a rule like this is essential.

I'm new to this so, some things might go over my head.

I started learning to code and wanted to know if learning the language that scripted the platform could help me with learning MQL5. Some said it's not necessary, but it helps.

Expert Advisors definitely! Although not all of them can be trusted! Also, you need to make sure it works fine on a demo account. And, some EAs are just trending EAs, that can only be profitable during a specific period of time.

You also need to realize that each lot size consists of different amounts of units depending on the pair. For example, if you are trading EUR/USD, then one lot size equals 100,000 units, but if you are trading Gold then one lot size equals 100 units, and if you are trading Silver then one lot...

I know that conflicts and political shifts can create uncertainty and volatility, often leading traders to seek safer currencies.

Depends on the pair and the time you want to trade. As you can see from the answers above, volume is important and it is, and it should be the first thing you pay attention to, but in low-volume hours and pairs, pending orders change the flow of the market. So, I'd say be careful with that.

BIG. FAIR. HUMAN ????? What in the world is that?

Hi, @MarthaLee! Welcome to FPA! Wish you the best of luck in your trading journey.

Very well said.

Hope everything goes smooth

Of course! First I believe you need to know what Forex is and how it works in general. Then try to understand the basics of fundamental and technical analysis to try to adopt a trading strategy. Also I think you should only focus on two or three pairs. This should give a good start.

A combination of market knowledge and patience is what makes the difference in my opinion.

Quite interesting! Thanks for sharing

They can do it but the result depends on many factors like local laws, case details, and how they can demonstrate that their operation is adherence to legal standards. Overall, what I'm saying is that if you truly believe that you were scammed don't hesitate to chargeback and gather evidence for...