Hi guys
First post ever, so please excuse the stupid questions.
I have gone through the stickied threads and found some great info. But just have a couple if things Id like to ask.
1) How long does a deal stay open for? I ask this because if you were to purchase for example USD and did not nominate a Stop-Loss and the dollar tumbled, whats stopping me from sitting on the deal for weeks or even months untill the dollar rises again?
2) I have been a FOREX practice account for the last few days. When I BUY currency, a window will pop up asking me to enter finer points of the deal (ie Limit, Stop-Loss, Pips etc). However, this window does not always pop up. Is there a reason for this?
3) What is the difference between a Deal and an Order?
4) How do you customize the leverage? What I mean is if I deposit $1000 in my account, and buy a 100,000 unit. This means the leverage is 100:1, I think. So using the demo account as an example, how can I change the units from 100,000 down to say 5,000, giving me a leverage of 5:1? Or is this not possible in a demo account?
First post ever, so please excuse the stupid questions.
I have gone through the stickied threads and found some great info. But just have a couple if things Id like to ask.
1) How long does a deal stay open for? I ask this because if you were to purchase for example USD and did not nominate a Stop-Loss and the dollar tumbled, whats stopping me from sitting on the deal for weeks or even months untill the dollar rises again?
2) I have been a FOREX practice account for the last few days. When I BUY currency, a window will pop up asking me to enter finer points of the deal (ie Limit, Stop-Loss, Pips etc). However, this window does not always pop up. Is there a reason for this?
3) What is the difference between a Deal and an Order?
4) How do you customize the leverage? What I mean is if I deposit $1000 in my account, and buy a 100,000 unit. This means the leverage is 100:1, I think. So using the demo account as an example, how can I change the units from 100,000 down to say 5,000, giving me a leverage of 5:1? Or is this not possible in a demo account?