Recent content by CarmeloGiroux

Most traders lose because of their trading psychology. It is so important in any financial field. It comes along with learning; as one experiences different scenarios and situations, one learns more about their emotions and attitudes.

Demo trading is fine but only to a certain extent. It’s wrong to expect to get the same results in your live trading. If that happens to you, you may set unrealistic trading expectations and won’t even bother to analyse the market to find profitable entry and exit points.

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When you have no idea if you will be able to take home any money or not, it is obviously risky to trade forex. It becomes even risky when you have no idea about how to proceed further and keep taking challenges to make money.

Beginners should definitely practise as much as possible on the demo accounts and also keep a lot of patience and consistency because that’s how they can stay in the game for a long period.

I feel it is pretty risky and difficult to move forward in this market if you do not have a strategy. However, the best thing is that any strategy you come up with can be tried and tested in a demo account before being tried in a live account.

The quicker you’re able to grasp the know-how's of the market situations, the easier it gets to trade. Decisions are purely based on the ability of knowledge learnt as a beginner. It takes time and hardwork. It could take months or even years. Practice while studying, so the scope of...

Risk is inevitable in trading and it is going to occur at some point and throw you off guard but those traders who manage their risks and stay focused on their game plan, are successful. Traders should calculate risk to reward ratio before making trade. This is the only way one can survive the...

New traders are unknown to the challenges of live trading. They don’t realise them until they make one or two losses. Some traders who are zealous to become successful often find reasons for the losses while the ones who were just passing time, leave the market blaming it for their losses.

It’s a good decision to start forex trading as a part-timer. As you won’t be making profits from the start, you should have an income source that would pay for your expenses. Study well because you will have to use proper strategies with your money at risk.

Well, like most of the comments I won't suggest eliminating or ignoring your fear while trading. Fear exists in our brain for a reason. It makes us question our decisions from time to time and makes us put more effort and time into taking major decisions. Of course, you shouldn’t let your fear...

Motivation is something that should come from within. It will be impossible to get motivated after listening to a motivation speech by someone. Of course, you will experience this sudden burst of energy for a short while but it will fade away quickly. So in the case of a forex trader, staying...

The average spread on all the major pairs including usdjpy and gbpusd range between 0.1 to 0.4 pips.

For scammers, it’s easy to lure newbies because they know that new traders would be looking for ‘get rich quick’ schemes and it won’t be a difficult task to make them believe in such schemes. This is why learning is important. You don’t just learn how to trade but also learn to differentiate...

Yes, that’s an important thing to know. Others might be doing quite well in their careers and you would want to know their secrets. But that’s not how it works. You will have different goals from others. Even your risk appetite won’t match others. So, it’s best to build your own trading plan...