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How to extend the validity of a demo account in Saxo Bank
Saxo Bank is one of the most reputable brokers on the market. Their platform SaxoTraderGo allows trading a wide range of instruments as well as options, futures, and swaps. It is by far one of the most advanced trading ecosystems on the market that is available to retail traders. Taking this into consideration one can be surprised that unlike most brokers who offer unlimited demo accounts Saxo Bank demo account will expire in just 20 days. It is hardly enough time to learn the SaxoTraderGo platform, not to speak of testing any strategy in a live environment. Luckily there is a little hack that allows you to extend your demo…
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Trading for a living – what’s needed to make trading a stable source of income
When one is planning to open a company, the first step should be writing a business plan. Or at least its financial part, to see what it will take for the company to break even and then to be profitable. Correct me if I’m wrong, but when it comes to trading, we need to conduct a similar analysis to see if the „profit margin” on the „product” will be sufficient to cover all „costs” and generate net profit. In this article, I share my thoughts and methodology on the subject. And no, it is not another article on a trading plan and why you should have one. A trading plan…
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How to run replay in TradingView on two or several timeframes simultaneously
As of summer 2024 TradingView introduced a function that allows you to run replay on two time frames simultaneously, but I leave this post for those who would like to run the replay on two instruments at the same time or replay more than two timeframes. In theory, it is impossible to run replay in TradingView on more than one instrument and one timeframe at a time. However, there is a simple trick that allows us to bypass this limitation. If you open one instance of TradingView in the Windows desktop app and another in your browser you will be able to run a separate replay in each of these…
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Trading hours
According to various online trend analyzing tools “forex trading hours”, “forex market hours” and “forex schedule today” are among the most often searched terms in Google related to trading. Since there are a few more nuances than just London open and New York open, I decided to post my take on this subject 🙂 . Best time to trade Forex The Electronic Communications Network (ECN) which connects market participants and facilitates the vast number of FX transactions is operating 24h a day starting from Monday 8:00 AM Sydney Time until Friday 5:00 PM New York time, except for a few bank holidays like New Year or Boxing Day. This constitutes…
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Hedging in forex
What is hedging? Hedging is a risk management strategy. It allows us to limit drawdown on losing trades as well to protect open positions in an event of rapid price fluctuations. Hedging a position can be nothing more than opening a second trade of the same value, on the same currency pair, but in the opposite direction (direct hedging). For example, if one wants to hedge a short position, opening a long position is required, and vice-versa. Once the opposite position is open, the losing trade stops generating losses, since the loss on one trade is offset by profit on the other one. This is the simplest hedging strategy forex…
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Understanding currency cross pairs
Cross currency pairs – introduction There are 28 main currency pairs traded on the forex market. The major currency pairs or the majors are EURUSD, GBPUSD, AUDUSD, USDCAD, USDJPY, USDCHF, NZDUSD, and the minor currency pairs or the minors are EURGBP, EURCHF, EURCAD, EURJPY, EURAUD, EURNZD, GBPJPY, GBPCHF, GBPAUD, GBPNZD, GBPCAD, CADCHF, CADJPY, CHFJPY, AUDCAD, AUDCHF, AUDNZD, AUDJPY, NZDCAD, NZDCHF, NZDJPY. When we log onto a trading platform we see quotes available for any of them. What we don’t see is that for the minors, which don’t include the US dollar in their symbol, the exchange rate is actually calculated from two major pairs. Let’s take the CADJPY as an…
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