The robust UK forex market is attributable to the increasingly fair trade practices between brokers and investors. These practices are largely due to the investor protection measures introduced by the Financial Conduct Authority (FCA). These include a compensation worth £85,000 from the Financial Services Compensation Scheme (FSCS) should the broker become insolvent. The FCA further mandates the broker to maintain client records separately from their own, allowing increased transparency and investor trust. In no situation can the investors’ account balance become negative. At the same time, the brokers have been mandated to issue standardized risk warnings associated with forex trading to investors.

Forex trading is not for the faint-hearted but for the visionary. There will be losses in trade. However, losing your focus and getting negative will only compound your cause. See losses as your teacher, who usually gives you constructive feedback. Analyze your loss, where you went wrong, what better you could have done, prepare, execute, and enjoy the success. Secondly, implement the price action strategy because it not only tells about the market movement but also signifies the psychological state of traders in the market. Pick out points where you can maximize in the given situation. Also, as in life, we learn one thing at a time. In forex trading, you don’t need to master everything at once. You can begin by spotting key market levels and then go on to learn about the trend strength.

The rupee jumped 12 paise against the USD to close at 87.53 on August 1, 2025, amid lower crude prices and suspected RBI interventions on the back of rising concerns over a wider global trade disruption following new tariffs announced by the US administration. According to forex traders, the imposition of a 25% tariff on Indian exports caused risk-off sentiment and raised concerns of further depreciation of the rupee. The day began with the rupee opening at 87.60 against the greenback at the interbank foreign exchange. It touched an intra-day high of 87.20 before settling at 87.53, rising 12 paise over the previous closing price.

Gold prices witnessed a decline across India’s spot markets on August 1, 2025. Both 24K and 22K gold categories saw price declines today. The price of one gram of gold in the 24K category dipped by INR 21 to INR 9,982, slipping below the 10,000 level. Meanwhile, the 10-gram price dropped by INR 210 to INR 99,820 from INR 1,00,030. In the 22K category, the one-gram price slumped to INR 9,150 from INR 9,170. Similarly, the price of ten grams of gold slipped to INR 91,500, witnessing a decline of INR 200.

Traders are generally concerned about the potential impact of tariffs on August 1st, and bearish sentiment on the Canadian dollar continues to intensify. Based on volume and price performance, US dollar bulls continue to increase their positions, while the Canadian dollar lacks substantial positive support. The RSI is at a mid-to-high level but not yet extreme, indicating that while bullish sentiment prevails, the market remains cautious about breaking through key resistance levels. Analysts believe that if there is no substantial progress in trade negotiations, bearish sentiment on the Canadian dollar is likely to persist, making the exchange rate more likely to rise than fall.#SharingTradingMistakesAndGrowth

Practical Strategy: Identify key price levels: Use the DOM (depth chart) to monitor pending order volume at levels like 1.0000 and 1.0100. A volume ratio greater than 3:1 is considered valid. Ambush Point: Place a short order 5 pips above the price (e.g., EUR/USD 1.0005), with a stop-loss of 15 pips and a take-profit of 30 pips. Confirm the trigger signal: Enter the market immediately when the 1-minute candlestick body breaks through the integer level and the trading volume exceeds 200% of the average.#SharingTradingMistakesAndGrowth