How do I specify Leverage on a Demo Account (Forex)?
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Charting the Markets: 24 March The FTSE 100, DAX 40 and Nasdaq 100 slide on renewed banking woes while EUR/USD, EUR/GBP and GBP/USD drop as the US dollar, gold appreciate due to flight-to-quality flows. Crude oil and copper tumble on recession fears. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 March 2023 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
By DominicWalsh · PostedMarket Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUDHere are the updates & outlook for multiple instruments in my watchlist.1️⃣ WTI Oil daily time frame️The market is trading in a long term bearish trend .After the last sharp bearish movement, the market is steadily recovering.Ahead, I see a major horizontal supply area.Probabilities are high, that the next bearish wave will initiate from there.2️⃣ EURUSD daily time frameAfter a breakout of a solid daily resistance, the market is preparing for its retest.Watch carefully the underlined zone and look for buying opportunities from there.3️⃣ EURAUD weekly time frameThe pair is currently approaching a weekly horizontal resistance cluster.Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that4️⃣ GBPNZD daily time frameThe pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.Chances will be high that the next bullish wave will initiate quite soon.For Additional confirmation use: Divergence Indicators
By DominicWalsh · Posted#CHFJPY: Classic Bearish Setup 🇨🇭🇯🇵 🔻CHFJPY has nicely respected a confluence zone based on a horizontal 4H resistance and a 0.5 retracement of the last bearish impulse. The price formed a double top pattern on that and broke its neckline. Probabilities will be high that the pair will drop lower soon. Goals: 141.172 / 140.363
Hi guys. I've got some really basic questions which, after some quick searching, I haven't found the answer to. Every where it's explained seems to presuppose prior or additional knowledge that I'm missing, so please bare with me as I ask really simple questions, or point me to a really, really, take-nothing-for-granted explanation!
I've learned the basics of risk and money management, analysis, and have a simple system I'd like to test in a demo account.
Now it's time to figure out the mechanics of placing trades and punching in the right numbers.
I'm using IG's Workspace. I've started with 9,059 GBP. Now, let's say that I want to place a trade, on, say, USD/JPY and "Buy" at x10 leverage, with a stop loss of 1% my account (90GBP). Alright, let's figure this out:
Firstly, I see three options:
Deal, Order, Alert.
"Deal" seems to be what I want, for placing a regular trade. Correct me if I'm wrong.
Under the "Deal" tab, I've got three options: Size, Stop, and Limit.
For the yen, Size is given in terms of "contracts," where 1 contract = 1000 yen per point. Okay, so I guess I can buy a 10,000 yen position which is equal to 10 points. Am I correct so far?
Now, is this position leveraged? What leverage am I using, and where is that displayed? Is that leverage factored into this price? Also, how do I know how much I am paying for the contract in GBP? Also, how much is "1 point" on the chart? How can I confirm that I have the right values before placing a trade?
I've watched this video, and it explains none of this: https://www.youtube.com/watch?v=dtodgGPczxU&list=PLOGjoJXp0cmpVNwvNbeAWnH_nu2RaLv4q&index=2
What am I missing?
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