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bluemac
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Pips don’t pay your rent but the dollars do. Beginners count pips because $10 loss feels smaller than 10 pip loss. Check pip value first is checking if the bullet fits the gun. If you don’t know the dollar risk before entry, you’re gambling.
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Agree on DYOR first 👌 HFM’s spreads on EURUSD/GBPUSD are decent for beginners, yeah. One thing I’d add: check swap rates if you hold overnight. Some “low spread” brokers make it back on swaps. Demo is 100% the move before funding is not just for strategy, but to test execution/slippage during news too.
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100% agree. Leverage is a tool, not free money. I keep mine at 1:100 but my actual risk per trade is 1%. The leverage just lets me take that 1% position without needing 100k in the account. Problem is when people confuse high leverage with permission to size up. 1:500 with 10% risk is a blown account speedrun.
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Fair point, regulation isn’t everything and track record matters. Never heard of hw.site before though. Are they regulated anywhere, and what’s the withdrawal process like? Always collecting data points on new brokers.
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This broker is already been in the market for more than a decade which builds credibility however those looking for broker recommendations can also go through doing some of their own research before finalizing the right choice.
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Anybody can recommend a broker for News trading??
bluemac replied to venturefx's topic in Forex Brokers
When going to make a limit order we need to factor in all the trading costs, spreads and possible slippage in order to enter any position which leads into profits. Slippage might sometime affects and is occured during news release events so we have to consider them rather than blaming the brokers. Some of the brokers like HFM, octa, xm, lmfx etc allow news trading too. -
I see there were previously some news related to a prop firm acquired oanda so i think we have some other brokers like hfm, octa, xm, lmfx etc to be added while short listing the right trading partner. We can also download their demo to check which option suits us best.
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That's why doing some of your own research is recommended to find out the broker's processes and ease of use in my opinion.
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Just trying to keep CPU under 70%. Share your instance/RAM ratios if using VPS services for MT4 or MT5.
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Yes, preserving the weekly profits can be a good idea so the traders can protect their wins rather than returning to these markets on fridays!
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Having a trade journal for logging our trades and reviewing them for periodic evaluation and improvement is the best in building memory muscles and setups.
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In my opinion, it also depends on what are the available options that can be opt in easily.
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I really wonder that many of the new traders treat trading as casino and some of them also keeps winning for some time before blowing their accounts.
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difficult to trade in here without a strategy
bluemac replied to Jesus D. Mallory's topic in General Forex Discussions
Learning always required discipline and patience or these traders always learn it in a hard way losing money and blowing accounts etc so we can use a demo account for practice our learned skills without risking any real money. Demo accounts can be downloaded from any brokers like hfm, octa, xm, exness, lmfx etc without depositing any money with these. -
Leverage is something to be kept lower in start since the new traders being unaware of the market conditions can blow up the accounts so better to adjust it accordingly.
