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FAQsFrequently Asked Questions
Yes, our service is designed for both beginners who are looking to get started, as well as advanced traders who have been trading for years. If you are a complete beginner, we recommend starting with a demo account first, and continue learning there until you are comfortable starting to trade with live funds.
Trading is often seen as an ambiguous activity that lacks a common order of work that people should follow. However, with a developed system and the right amount of discipline and persistence, trading can become your full time occupation. Learning how to trade profitably is one of the most desired skill sets in the finance industry, because your possibilities are endless. You can participate in any financial market you wish, at a time that suits you best, and make a living out of it. The MarketNerd is here to help you build a sustainable trading career.
There is no numerically correct answer to this question. You should start trading with funds that you wouldn’t mind losing. Having said that, it does not mean that you will certainly lose these funds, nevertheless you are exposing yourself to certain risks when trading, and you should accept this. The MarketNerd’s general recommendation is that you start with a small amount, and once you have proven effective market performance, you can always deposit more. Try to focus on percentages instead of amounts, especially in the period when you are learning and haven’t fully developed a consistently winning trading system.
This depends heavily on your broker, and the amount of capital you are using to trade. With a regulated broker, your funds are as safe as they would be in a bank. Regulated brokers are large firms which will not risk losing their hard-earned certification over any amount of money you have in your account. With unregulated brokers there is a slight risk of inappropriate behaviour on their end, however this is all avoidable by conducting research before depositing money on a brokerage firm, and testing out their withdrawal methods with small amounts of money beforehand. If you have done this, there is no need to worry about your deposited funds.
Normally, you cannot. The broker will not allow you to lose more than you have in your trading account. It will simply close your losing position when the resulting account balance becomes too close to zero. The loss that is bigger than the trader’s deposit is a direct loss of the Forex broker. It is in the broker’s best interests to prevent such losses. To secure themselves, brokers implement a stop-out level (usually about 20%), which means that the biggest losing position will be closed once (equity / used margin) × 100% becomes equal to or less than this level.
In rare cases, a slippage or significant price gap may put the trader’s balance into negative territory. However, brokers rarely pursue traders to refund negative account balances.
One of the best attributes of trading is that you do not require any qualification to become successful. Most people start trading from the same place in terms of abilities and skills. Unless you have prior experience in the finance industry, it does not matter if you are an artist, student, lawyer, architect, or teacher, you can become a successful trader
Price Action trading is based on the concept that price is fractal, and that patterns often repeat in the market. Price Action traders analyze historical past price movements to forecast future price tendencies. This style of trading relies on price behavior and candlestick analysis, with limited or no use of technical indicators.
Fundamental analysis is a method of determining a currencies real or “fair market” value. Fundamental analysts search for currencies that are currently trading at prices that are higher or lower than their real value. If the fair market value is higher than the market price, the currency is deemed to be undervalued and a buy recommendation is given. In contrast, technical analysts ignore the fundamentals in favor of studying the historical price trends of the currency.
No, you cannot. There is no delivery in spot Forex market. Such trade is a contract, not an actual act of exchange. At the same time, some brokers allow exchanging currencies at favorable rates inside one multi-currency account.
Forex signals, or alerts are planned trade ideas and setups with specific Entry Price, Take Profit (TP) and Stop Loss (SL) provided to offer traders levels of consideration. These are based on the analysis and opinion on what our traders see in the market. For example, we send out a notification when they are taking a trade. It is important to remember that Trade Ideas are strictly for educational purposes only, and should never be misconstrued as financial advice.
Trading a live account without any experience is like betting on a new game you’ve never played before at a casino. You are essentially gambling your money against the house. A demo account allows you to get comfortable with the environment before you risk real money.
The best way to calculate your Risk to Reward in Forex is by using pips as a measure from entry point to stop loss and take profit target. If the risk to reward ratio is 1:3, this means that for every 1 dollar you are willing to risk, you will gain 3 dollars in reward.
Risk-reward ratio = Absolute value (Price entry value – stop loss value) divided by Absolute value (Price entry value – Target price value)
The general rule is 0.5 – 1% per trade. If you’re a beginner, we recommend sticking to just 0.5%. This will build discipline and train yourself to not be greedy. If you develop a bad habit, you will need to eventually break those habits… and we all know how hard it is to break bad habits.
We suggest using our Risk/Position size calculator to help you determine the appropriate lot size for your account based on the risk you want to take and the currency pair you want to trade.
Trading is an individual ‘sport’, because you are always responsible for your performance. You control the risk, the execution, the exit, and every other variable that is relevant to a particular market transaction. Nonetheless, being part of a trading community can be very beneficial for you. Having the ability to discuss market movements, psychological hardships, technicals and fundamentals with like-minded people will truly enhance your trading progress. The MarketNerd discord community is the ideal environment for this, as members can discuss anything trading-related and help each other there.
The MarketNerd will provide analysis on multiple financial instruments through our discord channel. The purpose of the shared chart analysis is purely educational, because the MarketNerd does not offer financial advice services. You can utilize the directional bias analysis in multiple different ways. You can combine it with your own expertise and to derive a particular market speculation idea. Maybe we point out a setup that you might have missed or forgotten to check. Through the evidence of consistent effective market performance on our end, you will be able to learn and become better yourself
The MarketNerd currently offers two distinguishable membership plans. If you started with the Pro Plan, and you want to upgrade to the Premium Plan, it is possible. To do so, go to your account settings, click on manage subscription, and proceed to change the plan. The change however, will be applied on your following billing date. For example, if you joined the MarketNerd on the 7th of March as a Pro member, and 2 weeks later you decide to upgrade to the Premium Plan, you can upgrade your plan on your account settings, but the changes will be applied on the 7th of April, which is also the time when you will be charged accordingly. Everything applies to a downgrade as well, although we are not sure if anyone will ever want to downgrade from the Premium Plan.
In the case where you do not want to subscribe to our services anymore, for any reason, cancelling is possible at all times. To do so, go to your account settings, click on manage subscription, and then cancel. You will continue to have access to all of the services until the day of your billing date, because you have already paid for the month. This applies for 6 month and yearly plans as well, meaning any amount already paid is non-refundable, and you will continue to have access to your services until the day of your billing date.
You can contact us if the question isn’t answered anywhere.