Forex Copier Blog
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05.04.2021

How to trade exotic currency pairs?

Exotic currency pairs have a major economy's currency alongside a weak one, or two poor ones against each other. Some good examples are USD/MXN, EUR/HUF, EUR/TRY, etc. The varying liquidity and volatility related to these pairs require that a trader change their trading approach if shifting from major or minor currencies. Understanding how exotics works can help you tank in a good number of pips, which may not be possible with other pairs. Our article will discuss how exotic currency pairs can be traded in the best possible way to avoid unnecessary drawdowns.

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29.03.2021

Drawdown Trading

Drawdown in trading refers to the amount of risk exposure your account faces. As you open up a position on any financial instrument, your trade will not hit the desired profit in one go; instead, it will face some ups and downs from the initial entry point. The executions moving against your position alert the performance statistic to note the initial equity depreciation. While it may seem absurd, some traders use this type of trading with a high risk as their primary strategy. An example is where an investor with $10,000 in his balance opens a long position on GBP/USD at 1.13000. He does not have a stop loss and would welcome any downside to getting to his profit of 50 pips, i.e., 1.13500.

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15.03.2021

Best tools for Keeping a Trading Journal

A trading journal is a diary where a trader keeps all the records of his positions, mistakes, and future goals. By keeping a note of the essentials, it is possible to remember all the errors and avoid them in further trading. The continual process will result in increasing your trading consistency over time. Previously market participants used to write everything down on a piece of paper, but with the development in the fintech sector, automatic journals have been developed which note down your positions from the platform in robot mode. All the top traders and institutions recommend keeping a good record of all your trades.

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08.03.2021

Best Exotics to Trade

The world of currency trading offers three different forms of pairs to traders, i.e., major, minor, and exotic. Major pairs combine the US dollar with other vital currencies such as the Euro, the Great British pound, Japanese yen, etc. These are the most widely traded currencies, because they have the best liquidity to offer. On the other hand, minor pairs have less volume as they include cross currency pairs, e.g., EUR/JPY, CAD/CHF, etc.

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01.03.2021

Asymmetric Trading

In the financial industry, you may have heard about swing, position, day trading, etc. However, there is another class in which we classify the big tree that is called Asymmetric trading.

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22.02.2021

Advanced Ways to Enter a Trade

Trading the financial markets involves the implementation of a proper strategy with a proven outcome. Any good game plan includes a hard-to-understand yet straightforward procedure to enter a position. It may be complex, but a little hard work pays off in terms of consistency and gains. Traders can use technical indicators and fundamentals to aid in their entry. Some investors become so skilled at using advanced methods that they experience no drawdown whatsoever.

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15.02.2021

How Do You Turn Around Losses In Forex?

In the financial markets where the banks, hedge funds, governments, and forex brokers play a significant role in manipulating the prices, a novice or an amateur trader is always left behind. Even if a beginner understands the prospects mentioned above, he is eaten up by the big traders when it comes to trading psychology, risk management, and strategy. As a result, most of the executions on the MT4/MT5® platform turn into losers. Losing trades turn create the failed traders who contribute to the 90 percent failure rate in the markets.

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08.02.2021

What is Stop Loss and Take Profit, and why may you need it?

A stop-loss can be termed as an advance order that limits the amount of loss that may incur from your forex trade. It is an excellent option that can save your account from margin calls, puts discipline in your trading, and helps with your trading psychology. For any trade opened on your trading account, a stop loss or SL can be set manually via MT4/MT5®, or it can be a mental stop loss (one that is in your mind). Depending on your position size, increasing or decreasing the value of SL will change the amount of risk on the account.

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01.02.2021

What is Price Adjustment, and why you may need it?

In forex, the price tells you the exchange rate of a currency, or its worth, compared with its counterpart. In a trading chart and MT4/MT5®, it is displayed on the right side in the shape of a bid/ask spread. The bid is the price at which you wish to buy a currency, whereas ask or offer is the rate at which a person wishes to sell the same.

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25.01.2021

Managing risks in copy trading

Incorrect assessment of the psychological and technical risks are the main reasons for capital losses in the process of forex copy trade transactions. We offer several recommendations on how to deal with this problem.

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