Forex platform?

mubzaveri

mubzaveri

Active Member
#1
#1
Hello friends,
i m trading forex on demo account,
but i m facing some problems,it wud be great help if u can help :confused:,
i m using MT4, my questions r;
1) I m unable to place buy/sell order near the CMP,it doesnt take orders within 5 pips of CMP?
2) Unable to cover half position say i m having 2 lots eur/usd,then i m unable to cover 1 lot at some profit?
3) unable to sell below CMP say cant short eur/usd below 1.3400(cmp) but can give sell order above CMP ?(what if price never cross cmp & fell :annoyed:)

Also recommend a good broker with smooth deposit/withdrawal,for INDIAN resident.:D
Thanks in advance................:clap:
 
SavantGarde

SavantGarde

Well-Known Member
#2
#2
Hi Mubzaveri,

Please find the answers below each query...

SG


mubzaveri said:
Hello friends,
i m trading forex on demo account,
but i m facing some problems,it wud be great help if u can help :confused:,
i m using MT4, my questions r;
1) I m unable to place buy/sell order near the CMP,it doesnt take orders within 5 pips of CMP?

Only 'Instant Execution' is allowed at current Bid & Ask for a Fresh Entry at a particular price it will have to be atleast a couple of pips outside the current spreads...

2) Unable to cover half position say i m having 2 lots eur/usd,then i m unable to cover 1 lot at some profit?

When you right click on the Trade & select 'Close Order' it will show up with the default lot size of the order already executed.... there you will need to go and change the lot for partial exit.

3) unable to sell below CMP say cant short eur/usd below 1.3400(cmp) but can give sell order above CMP ?(what if price never cross cmp & fell :annoyed:)

Existing trades can only be closed within the spread or Instant Execution.

As I learnt yesterday from a friend...if your Initial Entry is a Limit Order with S/L & TP duly filled then one can modify those either before the order is executed or even after the entry is executed.



Also recommend a good broker with smooth deposit/withdrawal,for INDIAN resident.:D
Thanks in advance................:clap:
Click to expand...
 
mubzaveri

mubzaveri

Active Member
#3
#3
SG sir,
Thanks for the help,
actually my third question was about fresh position say if i wanted to short eur/usd below CMP,then is there any provision for that?
also can u recommend any good broker(ECN) for trading from india,
who is ur broker & r u comfortable with him with respect to,
trade execution,
stop loss hunting(if any)??
screen freez?
order delay etc,
any suggestion from ur end wud be valuable.................:clap:
 
SavantGarde

SavantGarde

Well-Known Member
#4
#4
Hi Mubzaveri,

Haven't tried putting an order in MT4 for shorting below the current price... Let me first try it to see if it happens... will let you know...

There is no real ECN broker operating here in India...

SG

mubzaveri said:
SG sir,
Thanks for the help,
actually my third question was about fresh position say if i wanted to short eur/usd below CMP,then is there any provision for that?
also can u recommend any good broker(ECN) for trading from india,
who is ur broker & r u comfortable with him with respect to,
trade execution,
stop loss hunting(if any)??
screen freez?
order delay etc,
any suggestion from ur end wud be valuable.................:clap:
Click to expand...
 
mubzaveri

mubzaveri

Active Member
#6
#6
hi fellow traders,
yesterday while trading eur/usd & eur/jpy,
i noticed that these two pairs more in correlation to each other,
is there any logic because both have eur in common?
does this happens in other pairs also?
in another forum i read that GBP/USD & USD/CHF also move in opposite direction,
Savant sir & other seniours r most welcome to share their experience..............
 
J

jaal4

New Member
#7
#7
Hello, does anyone know whether an Indian resident can open a forex trading account or not?

I am confused whether retail investors like me can open an Indian account and trade online?

Should I send money to a foreign account and do it through a foreign brokerage firm, or can I do it domestically?
 
M

MichealFlether214

New Member
#9
#9
mubzaveri said:
hi fellow traders,
yesterday while trading eur/usd & eur/jpy,
i noticed that these two pairs more in correlation to each other,
is there any logic because both have eur in common?
does this happens in other pairs also?
in another forum i read that GBP/USD & USD/CHF also move in opposite direction,
Savant sir & other seniours r most welcome to share their experience..............
Click to expand...

It may be a coincidence, since there is not such correlation as per my knowledge. Obviously Savant sir and other experienced traders can correct me if I am wrong.
 
4

4xpipcounter

Well-Known Member
#10
#10
Mubzaveri, all forex pairs are correlated by virtue of their mathematical relationship.
There are many mathematical relationships to consider, but let me cover the very basic:
Open the chart and check the rate anytime you want, and you will notice that EUR/USD*USD/JPY=EUR/JPY. In algebra we learned that when like terms are in the numerator and the denominator, they cancel out or equal 1. In this equation, the USD's cancel out and you are left with the EUR/JPY. So, we conclude that the EUR/JPY is half related to the EUR/USD by this very relationship.
As far as the GBP/USD and USD/CHF are concerned, they are half related by virtue of the common currency, the USD. If there is a strong move in the USD Index, like what we saw this week, then it will be the USD moving those currency pairs. The USD Index moved south, so the GBP/USD has moved UP, and the USD/CHF has moved DOWN.
You are going to notice over the next several months that the GBP/CHF is going to rise much higher. During these months there will be times when the GBP/USD and USD/CHF will move north together.

There is also a way to prove mathematically how to determine which currency is going to be the strongest mover of any currency pair. If you are interested, I'll share that.
The thing I love about the mathematics of the markets is that it simply dispels so many of the theories concerning the markets' movements, and even takes the argument completely out of its respective movements.


mubzaveri said:
hi fellow traders,
yesterday while trading eur/usd & eur/jpy,
i noticed that these two pairs more in correlation to each other,
is there any logic because both have eur in common?
does this happens in other pairs also?
in another forum i read that GBP/USD & USD/CHF also move in opposite direction,
Savant sir & other seniours r most welcome to share their experience..............
Click to expand...
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
S Forex on platforms like OctaFx Forex 7
encorecapitals Weekly Forecast Best Forex Platform Forex 2
M Any New Products/Platforms in the Forex market you come across? Brokers & Trading Platforms 1
KajolThappar For forex trading what is the best combination of broker and platform? MetaTrader 2
V single trading platform for indian equity market and forex Brokers & Trading Platforms 3

Similar threads