Recent content by dougbennett

Risk and reward are two sides of the same coin. That is what people say, and there is a good reason for it. By definition, the risk is the potential of losing something, and reward is the potential of gaining something. In order to make money in Forex trading, you need to be aware of the risks...

I have been a crypto trader for the last few months. I am still exploring the market because I have seen other traders make good money by trading crypto.

I have an ECN account with Turnkeyforex. I prefer tight spreads, don’t mind paying the $2 commission for spreads close to 0.

Well, that’s kind of true. Forex trading is not an easy way of making money and you will be coming across several risks and challenges to make money every other time. But without these challenges, your trading career is nothing. The harder the challenge, the more money-making opportunities it...

Scalping is short-term trading where traders can make quicker profits from smaller price movements. It is risky, but at the same time, it can help you win commendable profits if you have a good exit strategy. Understanding of indicators is extremely important and helpful for scalping.

Following how other traders are trading can be extremely risky because everyone has a different trading style and analysis. To avoid risks, you should follow your own trading style and analysis.

A forex mentor can help you quickly understand the basics of forex, thus preventing the time we put in searching for resources. However, it is difficult to find a good mentor in a market full of scammers. Although trading is mostly self-learnt, if you intend to look for a mentor, then research...

The exact percentage of how much people lose money in trading is debated the most, but what is certain is that a significant number of traders lose money in trading.

Beginners should start by opening a demo account. Demos can be opened with most brokers and provide traders with an opportunity to practice and learn without risking their own money. Once you have acquired the right skills, you should think about opening a micro or mini account.

The top 3 things new traders must know are: 1. Consistency 2. Psychology 3. Patience These three things are critical to being a successful trader.

I think you should try Forex trading, too. The market in forex trading is open 24 hrs a day, 5 days a week.

In forex, traders have an opportunity to make gains in either rising or falling markets. Forex trading is very flexible, and you can change your position at any time before closing the trade.

I agree that meditation is a good way of calming yourself when you are going through a tough trading time. But it is not the only thing that can calm you. You can do whatever relaxes you like taking a walk, listening to music, painting, and everything else you love to do.

@Benjamin_Bryne You can consider TurnkeyForex Highest Leverage- 1:500 Average spreads- 0.2pips Been trading with them for one and a half year and never experienced any hidden charges Verification process is pretty simple and straightforward. Good luck!

To be financially free is one of the greatest gifts that forex can offer. It offers you a flexible lifestyle and slots when you wish to work. High-job satisfaction depends on if you enjoy trading, and as a trader, if it makes you happy and pays your bills, then it is a very rewarding job.