Recent content by Hobbledehoy

I personally look for broker with tight spreads and low commissions. As being a scalper wide spreads or high commissions can increase the total overall trading costs.

I agree with you, a regulated broker brings a sense of confidence and safety to traders. I’d suggest all traders who are looking for a regulated broker have a look at this https://digitalcashpalace.com/forum/threads/cysec-regulated-forex-brokers.68832/, might find a suitable one for themselves.

It’s best to do your own research. We are different human beings, mate. Our choices can’t be the same. You may not like using high leverage if I do. I may not like fixed spreads if you do.

Yes, all traders trade differently. Some traders are short-term traders who open and close trades in a short period of time. Other traders, like position traders, are long-term traders who trade from months to year. All traders should know their trading style, depending on their financial needs.

It is true that traders lose money in forex at one point or another, but if traders use proper risk management strategies, then they can minimise losses. Some of the things that traders can incorporate in their trading are- 1) Use of stop loss and take profit order. 2) Assign reward-risk ratio...

Majority of the traders lose money because of bad psychology and lack of commitment. Hoping to get quick returns, most new traders fail to take the market seriously and take uncalculated risks. Therefore, they end up losing more money than they are willing to lose. As a new trader, you should...

Although risk and reward go together in forex or any other financial market, it doesn’t mean traders should blindly take risks, without considering its cost. A calculated risk is what traders should think of. They should risk what they can afford to lose. A small risk, which is 1-2% on your...

Tempted to make quick money, new traders search for shortcuts like copy trading and signals. The truth, however, is that they don’t work effectively. The only thing that works 100% is your knowledge. Therefore, you should focus on learning. Although the process is slow, in the longer-run, this...

Both are important to become profitable forex traders. Technical analysis helps traders to analyse charts and figure out trends and patterns, which are necessary to place trades. And with fundamental analysis, traders analyse news that can affect the future of the market. Short-term traders...

In technical analysis, we use candlestick charts to see the price movements. A candlestick chart looks like a candle. In a candle, there are points- 1)Open - it tells the opening price of a currency for a time period. 2) Close- it tells the closing price of a currency for a time period...

@justintaylor Exactly! It is wrong to be greedy without calculating risks. There is a very thin line between being greedy and being an opportunist. And traders need to figure it out by themselves and stop over trading because it can lead to big losses.

A demo trading account is a risk-free trading account where traders can trade in the same environment as that of a real trading environment, but with virtual money.

There is no definite time to learn forex trading. Indeed, learning never ends. You have to keep on analysing the market everyday and become flexible with your strategies and trade as per the market conditions. However, it is easy to cover the basic forex concepts. Some do it in weeks, and others...

The worst thing according to me a new trader can do is not calculate his/her risks. Everybody focuses on making money, but not everyone focuses on the risk part. Do you have enough money to start forex trading and sustain it? All traders should come with calculated risks and how they can manage...

Start with any broker that seems to be good for you. When you will gain experience with them, you will come to know what issues you are facing and what features could help you with that and change the broker whenever needed. Micro accounts work great for that.