Recent content by colton

My personal interest in currencies drives me to trade in Forex. My learning is non-stop and upgrading in this field.

Practice is the only reliable trait which will help you to perform your best in trading.

I think trading plan is really important to give us direction of execution. A trading plan outlines the steps which we require to set up our trades.

Demo Trading helps us learn the right function and approach to trading and gives us an insight into how live trading works.

Traders who are unprepared fail to recognize that making mistakes is part of learning and can actually enhance their skills. A trader should never get demotivated and avoid silly mistakes like not following a trading plan, taking big positions, not using stop-loss, and not monitoring their trades.

yes I feel the same, because in this way the trader can give their full focus on next trade with fresh mind.

Passion is the key to success; if one is excited, they can achieve anything. In order to succeed in Forex trading, one must be disciplined and have a strong desire to perform and learn.

A knowledgeable trader would know how much to start with initially, and one can change their entry and exit positions in a trade according to market conditions. In my opinion, trading shouldn't be focused on risks but rather skills.

To simply start trading without having the necessary abilities and knowledge of indicators.

I like scalping because it consists of opening a position, making some pip gains, and then quickly closing the position. But not everyone can keep up with it without required knowledge and skills.

Risk management should be followed along with using indicators like stop loss which really prevent us from losing outside our limits.

Yes professional traders work with total concentration and focus, they never take random decisions based on emotions.

Even I like to use EURUSD the most.This currency pair has the largest global trading volume.

Using emotion wisely, thinking promptly, and exercising discipline are key features of trading psychology which help in trading with logic and focus.

Forex requires knowledge upgrade with time, which is built with constant learning and keeping up with market trends. Also, having a right mindset is very necesaary along with skills to achieve success.