Recent content by EloisDavis

Yes, I too agree that a beginner should time his trading for maximum chances of making profits. The best time for a beginner trader is during the crossover times of the New York and London exchanges.

Many traders think that since the forex market is tough to master, they should not dream big about their trading. However, contrary to this popular belief, I think there is no harm in dreaming big. Instead, one should take their big dreams and goals to motivate themselves, and use this...

The EURUSD is currently bearish. With the USD becoming stronger day by day against the EUR, the exchange rate is also increasing. I think in the bearish market it's better to make short calls on trade. Go with the flow and take the advantage of the market, however it bends and reacts.

If trading psychology only meant taking control of your anger, and rage then you could simply say it is like an anger management class for forex trading. No, trading psychology is much more than overcoming negative emotions like greed, vulnerability, fear, and other stuff. When one develops...

With proper research comes good decision making skills, honestly if a trader knows their plan and also understands how sometimes it is okay to shift with the market direction, then he/she is only moving towards the opportunity that is benefiting them. Traders must know how to scan and analyse...

Most traders fail because of a very basic silly mistake, they do not focus on managing risk, they allow greed to eat up their rational thoughts and they do not understand that they need to be patient and carry out their trades. They don’t create a plan and then find themselves to be lost with an...

I find the kind of leverage the forex market offers unique as no other market offers such high leverage. If a trader knows what he is doing, Leverage can be highly profitable.

These are quality techniques a trader can use to mitigate the risks. Butt here are also certain risk management tools that a trader can opt for: 1. Stop Loss 2. Trailing Stop-loss 3. Placing Buy-limit Order 4. Placing Sell-Limit Order Placing the limit orders helps in avoiding losses due to...

I think the statement “eradicating poverty” is too big to be addressed. Forex trading can be financially profitable. It has also helped many people become financially independent. But is forex really helping in ‘eradicating poverty’ as such? People who are poor are categorised as below...

It is the best option to trade only one pair of currency at a time. If you are a beginner, or even an intermediate, one currency pair at a time is the best option for you. This is because you will have to be constantly updated about the price charts as well as keep a track of the latest news...

Trading losses are inevitable but one can surely manage them by either using strict risk management strategy or pre determining the appropriate position size.

I’ll for sure. At Least until I recover. I don’t find any point in earning if you are not fit enough because though money can buy you medical facilities but can’t buy health.

You will only find it risky if you do not understand the different variations that come with the market. If you do not follow a strict trading plan or have a system to keep you grounded and focused, then you will fall for scammers. There is no quick money in the forex market. It takes time to...

Without enough knowledge? I don’t think so. It is really impossible for you to succeed in the financial market without any knowledge. The Forex market is the most volatile market across the world. If you don’t have any knowledge, your chances of failing in this market are bigger. Knowledge gives...

Risk is a part of forex trading. We can’t avoid it but we can manage to avoid it by having a proper trading plan in place.