I'm attempting to trade 2K size lots of NXD/JPY and SGD/JPY. I've had a working market orders for both since yesterday evening. My orders won't fill. Would trading the broker minimums lot sizes around 30K alleviate this? Is there a specific time frame I should be placing these orders in? Would a 5K or 10K go through normally? Any direction would be appreciated.

Answer
That makes no since, your trade should go through immediately. You may want to check with the platform your using to see if there is an issue.

Forex trading questions?

The USD/JPY is trading now at about 80.4900 so how much would it cost me to buy 3000 shares of that currency? Also how much money am i required to have to day trade Forex? Because i know you need like 20 grand to day trade stocks. I have been trading stocks now for a couple months and i have a good trading strategy down using MA stochastic and a couple other indicators but will they still be effective in forex trading? Thank You

Answer
There is no minimum to day trade Forex, except the minimum deposit set by your broker (usually $100 to $2000). There are also no restrictions on shorting.

Forex trades in terms of lots, or notional value. And how much you can buy depends on your account type and leverage. In the US, the maximum leverage is 50:1. So, if you buy 1 mini lot of USD/JPY, you would be shorting 10,000 dollars worth of Yen, and that would cost you 1/50 of that amount, which is $200 of margin. Each pip, or 0.01 movement, would gain or lose approximately $1 depending on the currency.

As another example, if you buy one mini lot of GBP/USD, you'd be buying 10,000 dollars worth of GBP, and each pip would be a movement of 0.0001, which would still gain or lose $1.

Honestly, if you're successful in the stock market, I would stay there. But it wouldn't hurt to try Forex on a free demo account. Forex is cheaper to trade, and doesn't have bear markets in the same sense as the stock market. But it's also much more volatile.