E. asked in Business & FinanceInvesting · 7 years ago

FOREX trading question?

Hi all

In forex trading based on chatrs supplied by the broker , the result of the trade

profit or loss , is it based on the charts supplied or on the real world value of the

coins involved at that time ?

Elico

5 Answers

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  • Anonymous
    5 years ago

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  • 7 years ago

    You can use charts to trade Forex. Many traders use the charts supplied by the broker... but some don't. You can use charts supplied by a third party with data supplied by your broker. Usually the results of the trade are supplied by the broker.

    I have no clue what you mean by coins. The trades are within the world of the broker using several banks to create the market.

    Best bet;

    Read 6-12 books on trading and 2-3 books on Forex Trading.... that will get you started.

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  • Anonymous
    7 years ago

    1) depends on broker and platform. 'Charts' would be supplied by broker, as it it their price data feed that the platform is running off of.

    2) I have yet to see a trading platform that does not get you P/L live on some window of the chart.

    well, the exception is Scottrade Streaming Quotes, which if for stocks.

    3) ref 1) above... No the price you see from the broker can not be considered the real world value, as the broker manipulates the price spread to get his share, (hidden commission).

    4) Trades placed with your broker do not go beyond the brokers trade server. You are actually trading with/against member traders of that broker, if no member wants to take the other side of your trade, then the broker will take. And I guarantee the broker will wait for the best price to their advantage.

    You lose.

    Go to IBFX or Oanda Fx sites and read the TOS you have to sign.

    A couple of things in common with them and stated in the TOS:

    1) price spread is manipulated.

    2) a trader may not get the best price, or even the same price as other traders. (on same broker even)

    3) Before/after/during news releases the broker may increase the spread.

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  • Anonymous
    5 years ago

    the best trading software http://tradingsolution.info

    i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.

    if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

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  • 4 years ago

    Use sigma.option to trade

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