Recent content by bidveal

Trading excessively can do more harm than good especially because of the associated costs.

Agreed! Micro accounts can be more useful once you get used to the functioning of trading platforms on a demo account you should start trading with a small capital.

I think demo trading for a very long time can make it hard to adapt to the real market conditions. Traders should instead move to a micro account and practice there with a small amount.

@Glenn Phillips It isn’t all about luck. There are people who have built strategies that earn profits for them no matter where the market goes. It is all about practice and experience with trading. Forex does require patience and discipline, if you want to earn consistently even without luck.

Tutorials are available on many websites. Even youtube has a lot of videos regarding forex trading tutorials. One can choose any of these resources to learn about forex in detail.

Putting your eggs in different baskets is good but trading with several brokers at a time can be really confusing and ineffective. I am using only two brokers atm, coinexx and lmfx.

@kathrinedees I agree with your point. I believe even after one has practiced enough in a demo account he should prefer trading with micro accounts instead of jumping into standard accounts. As the initial deposits are lower for micro accounts than standard accounts, the loss will be less and...

I agree. Just because scalpers are fighting for small profits, they shouldn’t be mindlessly entering and exiting positions.

@AliciaLynch I agree with you that one needs to control his psychology. Meditation is only the way to control your psychology. Psychology deals with mind and mind is related to feeling and feeling are emotions. So in order to keep the emotions in your control, meditating is the best option...

I think it all comes down to how good a trader is with a particular strategy. Some traders are doing well as scalpers. It’s just that it demands undeviated concentration, ability to act quickly and strong money management to be successful at it.

Scalping may seem like a safe strategy but it isn’t actually if you take trading costs into consideration. Also, performing in a fast paced environment is not everyone’s cup of tea. You may require intense focus and should be quick to make trading decisions.

You can definitely not rely on IB programs completely, it’s just another way to complement your income even if you are not good at trading.

Agreed! By planning the trades strategically and trading according to the pre-set parameters, one can increase their chances of winning.

Forex is an age-old profession that has provided profits to innumerable traders. It will continue to provide the same in the future also, provided the traders will follow the rules of trading, gather enough knowledge and skills, and control their emotions while trading.

Yes, whether you are referring the broker to someone else or want to open an account for yourself, your first priority should be to check if the broker is reliable. If you can’t trust a broker with your money, you shouldn’t also promote them.