How can I start trading on the MT4 platform? : Question from Chhneah-Chhneah Samnang

I received an email from Chhneah-Chhneah Samnang who wrote:

Hi Mario, I currently live in Cambodia and funded my account with USD2,000. How can I start trading on the MT4 platform?

Before you start trading, familiarize yourself with the MT4 platform. Since you funded your live account, you have access to FXPRIMUS Coach for 60 days. Login to your Member Area to access your FXPRIMUS Coach.

Inside FXPRIMUS Coach, you can view tutorial videos on using the MT4 platform, as well as Beginner and Trading Strategies. You can also read the “Learn Forex Trading” section on my blog.

After you become familiar with the MT4 platform and learn some strategies, practice on your demo account first and assess your performance. During this period, you can contact our coaches from FXPRIMUS Coach to guide and assist you on your trading.

Refer to this post to read about basic Forex trading skills: “Question from Mayette Azucena: What are the basic skills in Forex trading?” Once you adopt these skills and can consistently profit for at least three months, you can consider trading on your live account.

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via How can I start trading on the MT4 platform? : Question from Chhneah-Chhneah Samnang

Forex Breaking News: UK Maintains Status Quo

The Bank of England (BoE) maintained their interest rate at 0.5% and their Asset Purchase Facility at 375B. Although the result is what the market has expected, the knee jerk reaction still caused the GBPUSD to shoot up close to 80 pips in the first 1-2 minutes after the announcement.

If you have gone long on the GBPUSD, you could have bagged close to 80 pips profit within 1-2 minutes, which is equivalent to USD800 on 1 standard lot. Would you mind making an extra USD800 in less than 2 minutes? This could happen to you if you are trading the Forex market. Click here to start your live account today!

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via Forex Breaking News: UK Maintains Status Quo

Spreads: Difference between the buy and sell prices

The Pipspread

A spread or pipspread is the difference between the bid price and the ask price. Most online forex brokers utilize spread-based trading platforms for individual traders. Look at the spread as the compensation the broker receives for being the market-maker and executing your trade.

Spreads vary from broker to broker and by currency pairs at each broker as well. Generally, the more liquid the currency pair, the narrower the spread; the less liquid the currency pair, the wider the spread. This is especially the case for some of the less-traded crosses.

Traders prefer tight spreads to most of the major currency pairs.

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via Spreads: Difference between the buy and sell prices

Bid and Ask Price: Determine which is the BUY and SELL price

Bid (Sell) Ask (Buy)


When you’re in front of your screen and looking at an online forex broker’s trading platform, you’ll see two prices for each currency pair. The price on the left-hand side is called the bid and the price on the right-hand side is called the ask.

The “bid” is the price at which you can sell the base currency. The “ask” is the price at which you can buy the base currency.

Some brokers display the prices above and below each other, with the bid on the bottom and the ask on top. The easy way to tell the difference is that the bid price is always lower than the ask price.

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via Bid and Ask Price: Determine which is the BUY and SELL price

FOREX Market Profits: Understand the principle of buy low and sell high

Profiting from the FOREX Market

The traders profit by simply applying the principle of buy low and sell high! The profit potential comes from the fluctuations (changes) in the currency exchange market. Unlike the stock market, where share are purchased, Forex trading does not require physical purchase of the currencies, but rather involves contracts for amount and exchange rate of currency pairs.

The advantageous thing about the Forex market is that regular daily fluctuations-in the regular currency exchange markets, often around 1%-are multiplied by 100!

Click the image to enlarge

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via FOREX Market Profits: Understand the principle of buy low and sell high