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Getting so much confused with the terms. Please, help.

richardmarcus
Jan 07 at 06:43
104 Beiträge
sidekickstarter posted:
Hi,

I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.

How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?

I even search for kind of Forex Dictionary but failed to find one.

Hope that, you won't mind.

It's totally okay to be confused. There's a LOT of terms and conditions you can inbox me if you want to i can help you out

russellgutierrez (russellgutierrez)
Jan 19 at 05:17
56 Beiträge
ElliotCooke posted:
First check the regulations of the broker. The broker needs to be regulated and licensed. Then check the facilities they are providing like spreads, leverage, margin, deposit and withdrawal facilities and customer support.

All of the things you have mentioned are certainly a must to check. I would add to this checking if your strategy is aligned with your broker, because then only you can benefit from the broker which you are using.

Pointingmark
Jan 19 at 08:15
28 Beiträge
A broker will not guarantee your success; it is your intellect and wit which help you to gain success in the markets because a broker is just a platform for trading, but the actual control is in the hands of the trader.

Lorencecolling
Jan 19 at 09:30
49 Beiträge
russellgutierrez posted:
ElliotCooke posted:
First check the regulations of the broker. The broker needs to be regulated and licensed. Then check the facilities they are providing like spreads, leverage, margin, deposit and withdrawal facilities and customer support.

All of the things you have mentioned are certainly a must to check. I would add to this checking if your strategy is aligned with your broker, because then only you can benefit from the broker which you are using.

The spreads and the leverage for me is very important as a trader. So I chose the brokers FXTM and Fxview because they fulfil both of the parameters. Now this does not mean that other brokers are bad or not good but they are not meant for me because they don’t have the requirements which I need.

Dorigda
Jan 20 at 10:34
83 Beiträge
Everything you say is correct, the main thing is to choose a broker with whom it will be reliable and where the trading conditions will suit you

mitchelstrack
Jan 20 at 11:41
30 Beiträge
Lorencecolling posted:
russellgutierrez posted:
ElliotCooke posted:
First check the regulations of the broker. The broker needs to be regulated and licensed. Then check the facilities they are providing like spreads, leverage, margin, deposit and withdrawal facilities and customer support.

All of the things you have mentioned are certainly a must to check. I would add to this checking if your strategy is aligned with your broker, because then only you can benefit from the broker which you are using.

The spreads and the leverage for me is very important as a trader. So I chose the brokers FXTM and Fxview because they fulfil both of the parameters. Now this does not mean that other brokers are bad or not good but they are not meant for me because they don’t have the requirements which I need.

Brokers are very important for your strategy; it is an integral part and you can try out as many as possible using demo trading. It will help you to learn about the interface and help to incorporate many other trading skills.

russellgutierrez (russellgutierrez)
Jan 21 at 05:30
56 Beiträge
I am a day trader who constantly trades using automated trading scripts. These can be made with knowledge of the MQL language which is a proprietary language of MT4 trading platform. So I always use brokers that offer MT4, like Oanda, Fxview, IG etc.

Lorencecolling
Jan 21 at 11:00
49 Beiträge
russellgutierrez posted:
I am a day trader who constantly trades using automated trading scripts. These can be made with knowledge of the MQL language which is a proprietary language of MT4 trading platform. So I always use brokers that offer MT4, like Oanda, Fxview, IG etc.

MT4 fan here as well :)

robindude
Jan 27 at 07:04
92 Beiträge
Dorigda posted:
Everything you say is correct, the main thing is to choose a broker with whom it will be reliable and where the trading conditions will suit you

Agreed. What according to you is reliable? I would like to know

Mauk
Jan 27 at 14:04
59 Beiträge
I think by the broker's reliability I mean good working conditions and honesty.

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