Recent content by Hoosegow

Crypto payments are great way of making transactions without involving any third party, but make sure that the platform you are choosing is reliable and trustworthy.

One of the main criteria I consider is their regulations. I prefer opting for regulated brokers as they can be trusted and are reputable.

Spreads make a huge difference in what you take home every day. But don’t just look for tight spreads because there are other features like fast withdrawals and quick order execution that are equally important.

As a broker will be an important decision, take time to make your decision. The first one you find may not be the best one for you. Rather trade with a few of them to compare their features and how well they fit your trading needs.

Slippage commonly occurs when the market is highly volatile. To avoid slippage one can choose to use ECN accounts that have high execution speed. And place pending sell or buy orders along with appropriate stop loss simultaneously.

Yes, a good trading system should be used. But a trader should also know how to use it and be profitable. So practising on a demo is a must and time which is needed to spend on a demo account depends on the learning capabilities of the trader.

Yes, a trader does need to have the courage to take risks but not without taking proper measures. A strong risk management strategy which should include both techniques and tools like stop loss helps to reduce the risk of losing.

@Fxmaster It is always good to learn from one’s own mistakes. But it is important that you don’t lose exponentially while learning. So it is better to learn in a demo and not risk real money.

One can’t trade without taking risks. I believe using stop loss at a proper position is the best way to reduce the risks.

I think everybody has explained well about demo trading account. But there is a fact that demo trading does not involve much emotions. So, expect the real trading to be a bit different. Your emotions will be engaged there because your real money will be in the trading account.

The more time you spend learning the better you would be at trading. So make sure you learn it enough that you are able to maintain a consistently profitable trading account. Learning won’t only involve gathering the knowledge but also the practical application of that knowledge.

News and other events that affect the forex market actually affect the demand and supply of a currency value. This effect is reflected on the charts when orders are placed for different prices at different times. So, demand and supply are pretty important things in forex.

A failure would be discontinuing the trading itself after facing losses in the market. But forex trading needs more patience than that. You will have to learn a lot before you trade. When you lose, you always have the option to do demo trading for a while to find out where you lack. Being...

Demo trading is a good way of knowing which broker is good at which feature. Based on your demo experience with them, you can make a choice.

You made a totally valid point. I too think that if a new trader isn’t confident enough and doesn't want to lose money, demo trading may be the best option to gain experience. Also, a beginner should not invest too much, either it is time or money. Part time trading with a small amount should be...