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RFSmithers

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  1. In general there is no influence. Biggest influences on a currency are: Interest rates of the country Economic situation in the country of the currency (which is why major economic reports and announcements are carefully watched for each country) A few other influences like if the country is a major oil exporter, gold mining in the country, etc... But the two above are the most important
  2. When there's no volatility and very limited price action in the forex market what does a trader do? Are the only solutions/options: Risk more capital Use more leverage if possible Extend your trading time, meaning hold your trades longer Any other ideas?
  3. Does IG allow lot sizes smaller than micro (1,000) for Forex?
  4. If you signup with a broker who is a market maker/dealing desk you should expect the broker to act as a counterparty to your trades (which has positives and negatives). You could search for an ECN, non dealing desk (NDD), or STP broker-dealer who just passes your trades to a liquidity provider without taking the other side of your trade.
  5. Many soft commodities have had a nice run also...I think in general all markets are doing decent.
  6. Thank you for sharing. If someone wants to get an official education in crypto and blockchain, complete with a diploma or certificate, where would one go?
  7. Anyway, like the other posts say, the forex market is a trillion dollar market and for any one participant to manipulate the market is almost impossible, so there is probably some sort of explanation for the phenomenon, but I still haven't found an answer yet. I've also just learned to live with it through my years of trading forex.
  8. Not strange. It is normal for me also on another platform (not sure about IG, I just joined so haven't started live trading yet) I trade forex. Maybe it has to do with the broker (market maker) wanting its clients to stay in the trade for awhile, not sure, but this also can't be the case because when I check the charts with another software connected to another broker the price movements and volume are the same as with the broker I made the trade. I've had some really weird trades where there was almost zero price action for like 20 bars and as soon as I place a huge trade (well not huge in respect to the forex market, but huge for the amount I usually trade) there is tremendous price action and volume on the charts. Being that the forex market does trillions in transactions a day my "little" trade shouldn't have this type of effect on the markets so I literally have no clue what goes on. Always makes me a little suspicious. If anyone has any explanation for this phenomenon I would appreciate some insight into why this happens. The movement on the charts away from my trades aren't just small amounts they are 10+ pips; again my "tiny" trade shouldn't be moving the whole market in this way but it does because I have proof in the charts. I even save the trade date and time so it could be replayed on trading software.
  9. Anyone have any analysis/remarks/explanation on why the USD reacted the way it did today on the FOMC remarks about the US economy and interest rates? Why did USD show strength in the forex markets.
  10. Here's a question about the meaning of "major forex centers around the world". Recently, I saw a list which listed the "major forex centers around the world" and the times they are open. Here is the list: Wellington, New Zealand; Sydney, Australia; Tokyo, Japan; Hong Kong, China; Singapore; India; Dubai; Frankfurt, Germany; Zurich, Switzerland; Paris, France; London, UK; Johannesburg, South Africa; New York, USA; Toronto, Canada; Chicago, USA. I know that the major trading sessions are three (Asia/Tokyo, Europe/London, Americas/New York) with the traditional forex centers considered to be in Tokyo, London and New York; and the forex market is made up of the decentralized interbank market. So when the list shows the locations above as the "major forex centers around the world" what exactly is it referring too? Major banks (participating in the interbank system) in those cities are big participants in the forex markets Retail forex traders in those cities/areas are big participants in the forex markets Those cities are hubs for firms/institutions which participate/trade in the forex markets Those cities are hubs in terms of infrastructure for the forex markets (interbank system) Location just needs to be a major global financial hub, which in turn will generate forex transactions from the cities location All of the above What exactly is meant by "major forex centers around the world" and how is a location considered a "major forex center around the world" (what criteria does a location have to pass to be considered a "major forex center around the world")?
  11. I think the best options will always be a hardware wallet like Ledger or Trezor, I've seen more and more software integrations with the Ledger and Trezor over the years. Secondly, I would choose a mobile wallet on either Android or Apple. The reason for this is these ecosystems have some quality control and security standards for apps they allow in their App Stores. Desktop wallets are a bit more riskier because anyone can create a crypto wallet and allow anyone to download, install and use the wallet. Unless you do your own research you will never know if these desktop wallets are malware or safe. Paper wallets are good but only to store your crypto for long periods of time, but a safer option is the "cold steel" type wallets which are made of hard metal.
  12. Holding funds in a crypto will be really difficult for the next few years, maybe even the next decade. Until these crypto coins can establish themselves and their "brand" throughout the years various crypto will come and go. It is a really risky market for most crypto. I think there are only a few that have already established themselves and will be hear to stay, at least for a few years: Bitcoin and Ethereum. The rest is pretty much all speculation at this point in my opinion and should be traded with caution.
  13. Hello everyone, I just wanted to introduce myself in my first post on the IG forums. I just joined the forums today, but am an experienced Forex trader. I've been trading Forex for over at least 10 years. Looking forward to learning and offering help in the IG forums. Hopefully everyone had a good trading week in the markets as the week comes to a close!
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