Recent content by Congenerr

I totally agree. A trader needs to make efforts to learn and understand the forex market in order to make a profitable amount. He should practice his trading strategy thoroughly and acquire appropriate trading skills.

If you have started getting something out of forex trading, then you need to work on your strategies, make them more accurate to get more profits out of trades. This can only happen with knowledge. Things that you know about forex have got you this far, so to reach the next level, you need to...

Trading bonus is a good opportunity for traders to augment their trading capital. I mean what’s the damage if you are getting a little extra. I’ve used a welcome bonus offered by finprotrading and there wasn’t any problem in trade execution or withdrawals.

What isn’t risky these days? If you want to earn money, then you will have to take some type of risk. As far as forex trading is concerned, it is risky for those who don't do anything about it. Study forex, try trading in a demo account and you will get to know about it. Those who are doing...

I wouldn’t say forex trading is an easy source to make money; however, it can become an easy way to lose money if you don’t have the skillset. Forex can be a highly risky market. Therefore, traders need to think first in terms of losses, not profits. Forex is about minimising your losses. As...

In a financial market such as forex, it is impossible to avoid losses. However, traders should take it as an opportunity and do their best to learn from their losses. The best way to do that is to backtest your trading strategies, so you can correct your mistakes and strategize better. Traders...

Yes, it can be a profitable strategy if you have a good trading strategy and good understanding of psychology, because you have to make quick decisions.

Demo trading can help traders to hone their trading skills. Traders use demo trading to create trading strategies. However, demo trading isn’t enough because traders ignore emotions and risk management, the two very important aspects of live trading. Once traders develop some skills on demo...

I think strategies change according to the needs of a trader. For example, you can’t trade different pairs with the same strategy. And the thing about strategy is that they are not 100% accurate. You have to develop an analysis for what would be best in a scenario.

I prefer both books and video content. Books can help you dive deeper into the market, but the only problem is they demand a lot of time. I have read a few books on trading psychology, which has helped me to take control of some emotions. Like, The Psychology of Trading is a good book. You can...

No, there are no specific educational qualifications required to set up a forex or any business. As long as you have the money and the knowledge to start it, you can start your business.

I would never trade with borrowed money because in case you lose the money, then you might be in debt, which can increase risk and stress in a trader’s way. Instead of that, you can take small risks and concentrate on their trading strategy and then aim for bigger risks.

I would say to grow as a trader you need to be disciplined and learn from your trades. If you are neither making money nor learning something, then you are falling behind. It’s the biggest mistake a trader can make.

Indeed!As a scalper, you need to have a quick exit strategy and take quick, profitable trading decisions. Fear or greed can lead to losses if you don’t know how to control. Good money management is important.

All newbies should know how the forex market works, which most fail to understand, and how it can help to meet your financial needs. Another thing that traders need to take care about is the risks associated with trading. We all look for profits, but we should think in terms of loss. When we...