Recent content by Isotaach

Yes, it is unpredictable but if traders understand the nature and mechanism of the market, then it won’t be that tough. The risk and volatility make it difficult to predict market changes. Traders need to be prepared to face anything and try to make the most of it.

Many traders rush into the market blindly, this makes them prone to attract risk through poor decision making abilities. Passion is necessary for traders to feel motivated and take the right steps approaching the forex market.

Volatility is always there in the forex market. One needs to develop their trading skills to withstand the volatility and make profits from it. But high volatility combined with low liquidity will lead to increased slippage. So always opt for a broker that guarantees minimal slippage with deep...

The market requires in-depth knowledge about everything related to forex. If a trader does not practise on a demo account, he/she will have a difficult time in the market.

I love trading EUR/USD, along with USD/JPY and USD/CHF.

Yes, I do. I have read books as a beginner. And even now I do like to read books based on trading psychology, or books written by real life forex traders - like the Black Book of Forex Trading by George Soros.

Yes, professional traders still lose in forex sometimes. Trading forex means there is loss and profit involved. Loss is inevitable. However, with their excellency in trading forex, professional traders make the number of profitable trades more than the number of losing trades, and make them...

It is the dream of every forex beginner to make consistent profits from the forex market. But the truth is, this goal cannot be achieved so easily, and especially not by trading for a couple of months. It takes years of practice and knowledge to develop trading skills and be profitable for a...

You’re right, better to go with regulated brokers, learnt it the hard way and now using aaafx and fxtm.

Getting confused is a normal thing for a beginner. However, with time and practise, they can overcome this situation. Trading when in a confusion might lead to wrong decisions and we may face losses. This is why it is important to have a sound mind while trading forex.

I agree. Revenge trading and overtrading are both enough to blow your account. Revenge trading is emotional trading in which the trader emotionally reacts after experiencing significant trading losses. Both of these can be avoided by taking a step back after experiencing losses, exercising...

One has to work hard to be successful in the forex market. No one can tell you how to make money in the forex market; courses can only guide you but taking action is in your hands. Stop looking for some 'wonder strategy' that will make you successful.

Because using leverage is risky, traders should choose it wisely. New traders should choose low leverage and implement risk management strategies to minimize their losses.

We are bound to feel stuck and confused without a clearly defined strategy and trading plan. Trading without market analysis would be more like gambling. Developing our skills is essential so that we can work on improving our strategy as the market satiations changes. But it is impossible to...

Bid/ask spread really is a king in trading. It is the most important factor that decides your trading costs. Therefore, in order to pay less and save more, you should always pick a low spread broker like AAAFx, Hotforex, Pepperstone, Tickmill etc. You’ll see a huge difference in the costs.