“The hard, cold reality of trading is that every trade has an uncertain outcome.”

– Mark Douglas, Trading in the Zone

This quote encourages Traders to develop a probabilistic mindset, which is essential for long-lasting success in the financial markets.

Check the signal

We know getting started in trading can be difficult, but our friends at Tonisignals.com aim to help new traders along the way!

Meet Toni, our long term friend. For some reason, his signals are often right. That is why we decided to provide it on our website. It is accurate and it is FREE!. Thanks Toni!

AUD/USD Signal – USD Interest Rate Decision – 29 Jul 2020

Articles we like

Staying up to date on both economic news and new ideas is very important in financial markets! Our favourite articles will usually cover news, trading mentality or general financial ideas.

Tweets we like

Here are some tweets that will motivate and help you along the way!

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Mini lessons

Want to learn some more about the Forex industry or not too sure about something? Not to worry, SuperChoice has you covered! Check our full list of mini lessons on either “how to” or “what is”.

Quotes we like

We know how mentally taxing trading can be at times and how the right advice can spur you on. That’s why we’ve compiled a couple of quotes to motivate you!

10 recent

Hall of fame

Blog

Check out our blog for interesting new thought pieces, takes on news, and updates in the forex markets!

Leverage

In terms of trading, leverage is borrowed capital that allows you to increase your potential profits or losses. In Forex a common leverage amount offered is 100:1, meaning that for every $1 you have you can control $100 in equity.

Margin

Margin is the collateral you must keep in your account to maintain a leveraged position.

Open A Forex Trading Account

Opening a trading account with an Australian Forex Broker is an easy process that can typically be completed within a matter of minutes. To open an account with a forex broker there are three main steps:

  1. Fill out personal information
  2. Verify account with documents
  3. Client Qualification questionnaire

To open an account, you will need to provide your full name, nationality, email and phone number. Once you’ve completed these and set up a password you will typically be asked to choose the type of account and the trading platform, as well as your base currency. You will also be asked for your country of tax residence and tax details (TFN for Australians). Typically, providing specific tax information such as TFN is not compulsory. Brokers will also ask if you are a politically exposed person. The final personal information you must provide is your contact information, including your full address and how you would prefer to be contacted

The next section is financial information. Here you must provide your employment status information, annual income bracket and liquid net worth. Once you are through this section, the broker will ask your about your trading experience (Years) on securities, options, commodities, futures, CFD’s and OTC Forex Exchange, and if you understand the risk of margined transactions.

The client questionnaire assesses whether your knowledge of CFD’s is suitable for opening an account.

Margin Call

A margin call is a demand from the broker for the client to deposit funds to meet margin requirements for open/closed positions.

Short Position

A short sell is a position where the trader anticipates the price of an instrument to decrease, and sells a borrowed asset to buy it back in the future.

Long Position

A long position is a buy position, where the trader anticipates the price of an instrument to increase.

Test2

This is a test, all systems go!

Indicator

An indicator is something that assists traders finding where to enter and exit trades. An indicator could be calculated like a moving average or RSI or a drawn support/resistance level.