Recent content by justintaylor

Pips are used to calculate the rates a trader will pay or receive as profit. The rate depends on the trading position of the trade. It is greed that keeps traders holding their position so long. It is important to be disciplined and patient to avoid such losses.

Stress can wear off your profits if you neglect it. It is important to acknowledge stress and try to remain calm. Avoid making impulsive trading decisions.Stress can wear off your profits if you neglect it. It is important to acknowledge stress and try to remain calm. Avoid making impulsive...

I don’t think there is any broker that is offering something exceptional that no one else has come up with. If there is any, I’d also love to know about it. However, if I have to mention one distinctive feature about my broker turnkeyforex, I’d say it’s 100% deposit bonus on every fresh deposit...

There is no doubt in the fact that forex trading is risky which makes many traders vulnerable to losses. The only way to surpass the risk is setting up an effective risk management system and playing it safe. Develop your trading skills through continuous learning and practice. Trade with...

Having a risk management system can be a life saver for forex traders. The market is highly volatile and risky. And the probability of losing money in trades is quite high. A trader is bound to fail in the absence of a risk management plan. Stop loss, risk/reward ratio and risk calculators can...

Yes, a demo trading account is highly valuable for beginners. In school you must have come across how you first understand a computer theory, but you would still find some trouble when executing it in practical class. The same goes for trading. A trader learns about all the essential strategies...

It isn’t but some traders make it a gambling game because of their greed. They take risks without analysing how the market is moving. They don’t even follow a risk management strategy before executing trades which often leads to extreme losses.

When you are new to the market, you will obviously use someone else’s system to make trades. But with time, you will have to change it when you realise that there have to be some other things that will make an important part of your trading system. Moreover, a single strategy doesn’t always...

First of all, you need to understand that Forex trading is not a get rich quick scheme. The volatility of the currency rates makes it risky and hard to some traders who have very little or no knowledge of the market. It all depends on how good you are at reading the market and how much time you...

Because, many do not have a plan. They have no structure. They are just winging it! Like most losers in life, the majority of traders begin with a dream of success and riches, but without a plan. It's pure fantasy. They expect to see huge profits immediately. But trading is a tough business. It...

Choosing the right broker can be really daunting but few things that help me make a good decision are: I always go for ECN brokers. Read customer’s reviews very carefully and go into as much detail as I can. I contact the customer support not just once or twice but many times to see if I get...

To break habits you need to make a proper plan and choose the right strategy and work accordingly. You can’t repeat the same mistakes again and again.

People think forex is a magic stick that can bring you profits overnight. You have to give consistent efforts to earn money.

A trader should take well calculated risks and use risk management tools in order to minimise the downsides of a losing trade.

New traders should prefer trading a single currency pair at a time and starting with one of the major pairs is quite helpful. I also started with EUR/USD and focussed on it until I mastered it completely.