Recent content by Blinker

No one is born a professional. It takes time for everyone to learn new skills and obtain complete knowledge of a subject. So, if you wish to become a professional, be ready to put in the hard work and time until you learn well.

My favourite currency to trade is USD/EUR. A combination of two large economies, it ensures stability and can be predicted to a certain extent. Not only this, tighter spreads and increased liquidity also add to the list of perks of trading this currency pair.

No, it is impossible to earn in forex in the long term without having adequate knowledge as forex trading is not a game of luck. It requires analysis and strategizing for magnifying profits and minimising losses.

Acting with greed is the natural reaction to the highly liquid market such as forex. But you need to remember that, risk and reward go hand in hand in forex. So risk only money, which you are comfortable to lose.

Both are nice. But you should sign up with those classes that will help you understand things better after the end of day. For instance, I see no point in signing up for a $1000 online course where the teacher will tell you to buy a signal. Instead, any sensible trader would prefer a course...

Trades fail because of different reasons. But poor trading skills, lack of education, and greed are some of the top reasons traders fail. It is necessary to note that trading is not a shortcut to making quick profits. You have to be skilled in order to make money.

I would call a successful trade something that goes as per your trading plan. There are no distractions. You do what you plan to do. For a successful trader to happen, a trader should have a strong risk management strategy and a set of trading rules.

No! This will make things worse for traders who are completely inexperienced. That’s because the forex market is risky and nobody starts making money from day one. If you want to build a career out of trading, then start with trading part-time while building your skills, when you start seeing...

Quite the opposite! Forex is one of the fields to make money. The market can be so volatile that you don’t stand a chance if you don’t have the required skills to handle the market. “The forex market is easy way to riches” is a misconception.

Lack of patience not only leads to over-trading but also prevents traders from thinking rationally and making right trading decisions.

I totally agree! New traders in their greed of having instant profits, keep on searching and changing their trading strategy.

Many traders focus more on profits and risk more than they can even afford. They do not understand the importance of having the right risk management strategy.

A trader can only think differently if he understands the market well. The trader who has a good amount of knowledge about the market will be able to improvise his/her trading strategy efficiently in case of any change in the market or if the trading strategy is losing edge.

Avoiding large losses is more important than making large profits. Traders who aim at making profits should know how to preserve their capital. Playing with defence is the most important rule in trading.

I agree! Even I believe that greed and unrealistic expectations from the market are the main reasons for losing.