Re: Honje's collection of indicators, strategies and trading journals

531
honje19960321 wrote: Wed Oct 05, 2022 12:10 pm I am now looking for the right forex broker. Low starting deposit, low spread, no fees, high leverage. Hope to find. I will open an account now

If you don't feel comfortable answering you don't have to, but what country are you in?

A lot of brokers have very specific restrictions that forbid traders within select countries from trading with them. Most notably USA, Canada, Iran, and North Korea come to mind as the four most "banned" countries.

I could list off other factors that matter, such as what instruments you do/don't want to trade, but your current residence would be a good start.
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Re: Honje's collection of indicators, strategies and trading journals

532
TransparentTrader wrote: Wed Oct 05, 2022 12:38 pm If you don't feel comfortable answering you don't have to, but what country are you in?

A lot of brokers have very specific restrictions that forbid traders within select countries from trading with them. Most notably USA, Canada, Iran, and North Korea come to mind as the four most "banned" countries.

I could list off other factors that matter, such as what instruments you do/don't want to trade, but your current residence would be a good start.
I live in Japan, if you know anything and have any good advice please let me know
glad to hear from you
sincere regards
honje
These users thanked the author Jedidiah for the post:
Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Honje's collection of indicators, strategies and trading journals

533
honje19960321 wrote: Wed Oct 05, 2022 2:08 pm I live in Japan, if you know anything and have any good advice please let me know
glad to hear from you
sincere regards
honje

Ok, Japan is a good country. I think the overwhelming majority of offshore brokers will accept traders from your residence.

I guess the next questions I would ask are the following:

  • What exactly do you mean by "high leverage"? Is 1:100 acceptable to you, or will you refuse to take anything less than 1:200?
  • What's the minimum starting deposit you're looking for? Keep in mind that within the same broker, some of the trading accounts with better conditions require a higher minimum deposit
  • What instruments are you specifically looking to trade? While some MT4 brokers are great all-around for every instrument, some are better for non-forex instruments than forex instruments and vice-versa.
  • Do you care about how you deposit money? Do you prefer a wire transfer or credit card deposit over using cryptocurrencies?

Not the world's most comprehensive list but it will be more than enough for me to make some recommendations.
These users thanked the author TransparentTrader for the post (total 2):
Jedidiah, Chickenspicy

Re: Honje's collection of indicators, strategies and trading journals

534
These users thanked the author Jedidiah for the post:
Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Honje's collection of indicators, strategies and trading journals

535
TransparentTrader wrote: Wed Oct 05, 2022 2:24 pm Ok, Japan is a good country. I think the overwhelming majority of offshore brokers will accept traders from your residence.

I guess the next questions I would ask are the following:

  • What exactly do you mean by "high leverage"? Is 1:100 acceptable to you, or will you refuse to take anything less than 1:200?
  • What's the minimum starting deposit you're looking for? Keep in mind that within the same broker, some of the trading accounts with better conditions require a higher minimum deposit
  • What instruments are you specifically looking to trade? While some MT4 brokers are great all-around for every instrument, some are better for non-forex instruments than forex instruments and vice-versa.
  • Do you care about how you deposit money? Do you prefer a wire transfer or credit card deposit over using cryptocurrencies?

Not the world's most comprehensive list but it will be more than enough for me to make some recommendations.
I need to find a leverage of 1:500 with a spread as close as possible to 0 to 0.3. I'm still comparing the pros and cons of brokers
These users thanked the author Jedidiah for the post (total 2):
TransparentTrader, Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.


Re: Honje's collection of indicators, strategies and trading journals

537
TransparentTrader wrote: Thu Oct 06, 2022 2:24 pm A spread of 0.0-0.3 for which instruments specifically?
It would be great if the spread on GBPJPY could be lower than 0.5.

I prefer to trade more volatile currencies. So usdjpy, eurusd and other less volatile currencies may not be in my consideration

Sorry, I'm busy during the day now. Only short answers.

gratitude
These users thanked the author Jedidiah for the post:
Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Honje's collection of indicators, strategies and trading journals

538
TransparentTrader wrote: Wed Oct 05, 2022 2:24 pm
[*] What instruments are you specifically looking to trade? While some MT4 brokers are great all-around for every instrument, some are better for non-forex instruments than forex instruments and vice-versa.
[*] Do you care about how you deposit money? Do you prefer a wire transfer or credit card deposit over using cryptocurrencies?
[/list]
trading tool is mt4, and my current trading strategies are all based on mt4 indicators. Deposits and withdrawals are possible by wire transfer or credit card. If it is in encrypted form. I don't have a cryptocurrency related account. I probably don't know how to use it.
These users thanked the author Jedidiah for the post:
Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Honje's collection of indicators, strategies and trading journals

539
honje19960321 wrote: Thu Oct 06, 2022 2:35 pm It would be great if the spread on GBPJPY could be lower than 0.5.

I prefer to trade more volatile currencies. So usdjpy, eurusd and other less volatile currencies may not be in my consideration

Sorry, I'm busy during the day now. Only short answers.

gratitude

I'll see what I can do, as GBPJPY spread lower than 0.5 pips is quite a big ask.

Would need to look into my collection of brokers to see who would be the best fit for you. Off the top of my head, I know Carbon Capital FX is an MT5 broker that offers 0.5 spread for GBPJPY.

EDIT: ATC Brokers has a 0.8-1.0 pip spread for GBPJPY. I think if the ultra-low GBPJPY spread you're looking for is a huge dealbreaker, you'll have to accept your options will be very limited.
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Re: Honje's collection of indicators, strategies and trading journals

540
What is Trailing Stop Loss
Trailing stop loss,, is to follow the latest price to set a stop loss of a certain number of points. It is only triggered when the exchange rate moves in the favorable direction of the position. It is an instruction set when entering the profit stage. The purpose is to achieve most of the Book income is a very good trading tool, especially in the case of large price fluctuations, it can guarantee your profit.

When you just entered the trading market, do you often hear the predecessors talk about trailing stop? So what is a trailing stop? The trailing stop loss (sometimes called trailing stop loss or trailing stop loss) we encounter in the trading market means that we follow the latest price point in the transaction to set a stop loss of a certain space, when the market goes to you A favorable directional change of the trade triggers a trailing stop.


什么是移动止损
移动止损又称“追踪止损”,就是追随最新价格设置一定点数的止损,只随汇价朝仓位的有利方向变动而触发,是在进入获利阶段时设置的指令,目的是实现大部分帐面收益,是一个非常好的交易工具,尤其在价格波动大的情况下, 可以保证您的盈利。

刚进入交易市场的你是否经常听到前辈们说到移动止损?那么移动止损是什么呢?我们在交易市场中遇到的移动止损(有时也叫做追踪止损或者跟踪止损),说的是我们在交易中追随最新的价格点位来设定一定空间的止损,当行情往你的交易有利的方向变动而触发移动止损。
These users thanked the author Jedidiah for the post:
Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.


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