Many beginners of Forex market, asks similar questions for the first time. If you still have many questions before start investing, this article may help your knowledge!
JustForex - What's now?
Note that the $5 per lot Cash Back promotion is now available only for "Standard" and "Standard Cent" types since the update of account types made by JustForex on March 24th.
Here are the frequent questions traders ask before start trading with JustForex!
Reach through this and some of your questions maybe answered already!
1. Is automatic trading(EA) allowed?
Trading using expert advisors is allowed, within trading conditions of the trading account type, used to conduct trade.
2. Why was my position closed without my order to close it?
Your position is to be closed forcibly at the current market price in case the margin level on the account reaches the stop out level of your account type (stop out level for all the account types can be found on the Trading terms).
3. I want to conduct trade on the Forex market. How can I fulfill this?
While trading on the Forex market with JustForex, you can conduct trading operations via trading platform MetaTrader 4.
With the help of this platform you have an opportunity to place market and pending orders to buy/sell.
To learn more about how to conduct trading operations, please read the article Trading process.
4. What is spread?
Spread is the difference between the ask price and the bid price of the financial instrument at the certain moment.
5. What are JustForex’s spreads?
Spread is floating on Standard, Cent, Mini and ECN Zero accounts.
To find out typical spreads, please, visit Contract Specification.
6. When trying to open a position the message “Not enough money” appears. Why?
This message appears in the trading platform in case you don’t have enough spare funds to open new position.
In order to continue trading, the trading account needs to be deposited.
7. What are buy and sell orders? What do short and long positions mean?
Buy order or as it is also called long position – the order to buy financial instrument.
Sell order or short position – the order to sell financial instrument.
8. What currency pairs are available for trading?
To view the complete list of the currency pairs available for trading, please, visit this page.
9. What is the minimum order volume available?
The minimum order volume on all the JustForex accounts is 0.01 lot (1,000 units of base currency).
10. What does free margin mean?
Free margin means funds on the trading account, which may be used to open new position.
11. What does leverage mean?
Leverage is a tool which lets trade bigger sums, having only part of the sum at the disposal.
For example, with 1:100 leverage you can conduct trade of the USD 100,000 volume, having only USD 1,000 of own funds.
12. What are the open and close prices?
Buy orders open at Ask price, close at Bid. Sell orders open at Bid price, close at Ask price.
13. How to place an order on Forex?
To buy or to sell a currency, you should open/place a Forex order in the trading platform.
You can do it in a simple and even in several ways in MetaTrader 4.
14. How to do scalping on Forex?
Scalping is a trading strategy, when a trader executes a big amount of orders during a short period of time.
The trading position is held open for a few seconds or minutes.
A trader executes hundreds of transactions per day and receives profit from minor fluctuations in prices.
15. How to calculate and set Stop Loss and Take Profit on Forex?
You can place Take Profit and Stop Loss in a trading terminal, when you open an order.
You also can modify already opened orders and set or change SL and TP at any time.
You can read more about how to calculate Stop Loss and Take Profit on Forex in the official website.
16. How to use the RSI indicator on Forex?
RSI is an oscillator indicator. This indicator is a standard one, so you can find it in MetaTrader4.
To use it, click “Insert” in the upper left corner of the trading platform, choose “Indicators”, “Oscillators” and “Relative Strength Index”.
A settings window will appear.
17. How to use Trailing Stop on Forex?
Stop Loss can be moved manually, Trailing Stop is used to automate this process.
Trailing Stop allows the Stop Loss level to move relative to the price fluctuation.
That is, it is the floating Stop Loss which follows the price when it moves in your direction.
Trailing Stop is useful at a strong unidirectional market movement.