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Forex Beginners Questions and Answers Board

How it works?

- You type in a question in the comment field below.

- Your question is published (after screening).

- 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,