Recent content by Colossus

Making consistent profits might be difficult, but not as much as beginners fear it to be. In fact, if you have developed a good trading strategy, and you stay true to it for quite some time (around a year), you’ll notice that you have improved a lot. Losses aren’t completely avoidable, but many...

No, regulation is not the only way to identify the reliability of a forex broker, you should also check their background, trading conditions, customer support etc. But regulation is a good way to ensure trustworthiness.

I was quite young when I got to know that my richest uncle was a forex trader. Since then, I knew that I would become a forex trader. Making money was obviously my prime goal and now, I am working on obtaining different skills to enhance my profits.

A profit is a profit. It doesn’t matter how big or small it is. Be happy about it because not many traders are able to make a profit. Keep working on your skills and trading plan to ensure that you are trading in accordance with the current market situations.

Having a trading journal is quite important as you can note down your strategies and results for future reference.

The worst thing a trader can do is to not backtest their strategy. As they are beginners, they still have not developed a natural instinct to evaluate a strategy as good or bad. So I feel it is necessary for beginners to first backtest their strategy before applying it.

I don’t think beginners have much idea about what the forex market is and how they will trade. All they have in mind is making money and that’s probably the only factor that makes them join forex. But since the market is used to behaving in an unplanned manner, not many traders are able to...

The Cyprus Securities and Exchange Commission(CySEC) is a regulatory authority that is committed to the safety and security of traders. Thus, by choosing a broker registered with CySEC, you can be assured of their authenticity and good trading conditions. With this in mind, I’ve created this...

Can you solve an algebraic equation without actually learning and practising algebra? No, right? You might copy trade or follow someone else’s strategy without understanding a bit. With no knowledge of forex trading, you might earn a couple bucks by the grace of your luck, but it’s not possible...

Forex trading requires a lot of practice and years of hard work and experience to gain expertise. Once a person becomes an advanced or a professional trader, they can make more than any 9 to 5 job would pay. However, George Soros was also a beginner and novice when he started trading. Don’t lose...

Just how seriously you work on your trading strategy, you must work on your trading psychology so that the opposite trading situations don’t keep you from thinking rationally. You have to work on your mindset so that you don’t lag behind in your career just because you couldn’t stop crying over...

There is no hard and fast rule for what you must risk per trade. It depends on how much you are ready to lose if your trades go in the opposite direction. But yes, I do believe in the fact that you must keep your risks small until you have gained enough experience in the market and can make good...

Yes, it is risky to trade in the forex market. Investing in the forex market is risky only for those who think of this market as a get-rich-quick scheme. You’ll have to understand that you cannot become rich overnight. Risk is in every financial market and that doesn’t reduce your chance of...

To think differently is to be bold in your choices, to be expressive in your views and certainly to be artistically true to yourself. It is a mindset that needs to be adopted and a process that comes with practice. After all, change doesn't happen overnight, and neither does being different...

You can use the demo for however long you feel like you need the practice. If you still feel under confident, then take a while to understand and study the market and its measures. The best traders are highly skilled and rely on their wit and decisions to go towards making enormous amounts of...