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hhduy
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A lot of forex brokers actually offer 1:1000 leverage these days, especially on standard or micro accounts. You’ll see this at brokers like HFM, XM, Octa,... Usually it depends on the account type, balance size, and which regulation you’re under - higher leverage is more common outside EU/UK rules. Obviously 1:1000 isn’t for everyone but it’s there if you know how to manage risk.
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I would like to discuss with you what kind of broker you want.
hhduy replied to Bambang Sugiarto's topic in Forex Brokers
I always look for a broker with a license from a top regulator. Safety of my money is the most important thing. I do not want to worry about my deposits every day. Reliability is my top priority when choosing a broker. I usually read many reviews from other traders before I sign up. If a broker has many bad complaints, I stay away. -
Trading is not about getting rich quickly. It is about staying consistent over a long time. Manage your money first, and the profits will follow. Take your profits regularly and don't be greedy. The market can change direction in a second. It is better to have cash in your pocket than a "paper profit.
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Hedging is safer for long-term traders during high market volatility. It helps to protect my account balance when the price moves against my main position. It is a good way to minimize risk as you mentioned.
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Forex is not a 'get rich quick' scheme. We need to spend months practicing on a demo account first. Real success takes a lot of time and patience. And good strategy is important but risk management is the real key. Never risk more than 1% or 2% of your account on a single trade. This keeps you in the game longer.
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Money management is the art of survival in Forex trading. You can be a good analyst but still lose everything without a stop loss. Always determine your risk before you enter any trade to protect your account.
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I feel like the market is unfair when my orders are delayed. In scalping, one second can change everything. A bad server makes us lose profit very fast. Switching to a reputable broker is the only solution.
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Anybody can recommend a broker for News trading??
hhduy replied to venturefx's topic in Forex Brokers
I think every broker would have slippage when trading during news. I think some brokers like XM, HFM and ICMarkets are good choice for news trading. -
Demo Account or Live Account? Any Comments?
hhduy replied to okamiraito's topic in General Forex Discussions
A demo account is a safe place to learn. However, many traders win on demo but lose on live accounts. This happens because emotions are very important in trading. A demo account cannot teach you how to control your mind. It only teaches you the technical parts. -
Many brokers use bonuses to trap new people with high lots. You should choose a broker with a good license and clear rules. Then, the bonus becomes a helpful tool for you.
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The best course is the market itself. You must journal all your trades, review your losses every week to find the real problems. This is the way all frofessional traders learn.
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Thank you for this great summary for beginners. I totally agree that the demo account is very important. You must learn Risk Management before using real money.
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What is your preferred forex broker, and why?
hhduy replied to Bambang Sugiarto's topic in Forex Brokers
I agree that safety comes first. Many traders lose money not because of bad strategy but because of bad brokers. I prefer brokers with strong regulation and fast withdrawal. If the platform is easy to use, it’s a big plus. We trade better when we trust the system we use. -
Are prizes and awards from brokers real?
hhduy replied to hafidfx's topic in Trading Contests & Bonuses
Contests also improve emotional control. When you compete, you feel pressure to perform well. That’s when real psychology shows up. Learning to stay calm during wins and losses helps in long-term trading. -
Forex Basics 4 Advanced&Beginner Traders
hhduy replied to StefGrig's topic in General Forex Discussions
EMA is fast to react to price changes, but it can also give false signals in a ranging market. I learned to wait for market structure confirmation first. It’s best to combine EMA with support and resistance levels. That way, trades become safer and more consistent.
