Recent content by kathrinedees

Only the trader who knows how to manage risks is a good trader.

Both finprotrading and fxopen offer variable spreads, starting from 0.1 pips.

Please avoid taking out loans.A debt is the last thing you want as a trader. Traders should pursue trading with small capital and part-time, especially if you’re new. You can increase the capital as per your profits. Meanwhile, having a job is a good move to save money for trading.

I still trade with one pair only and would also suggest all, especially the newcomer, to trade one currency pair and plan several strategies. Backtesting them is very important.

Traders can be stressful when results take time to show up, but traders should not let this turn into frustration. We all should indulge in some mental activity to get rid of that burden. Meditation is very helpful I think. It has helped me to be more aware of myself and approach everything with...

Traders should avoid trading with borrowed money because it can be risky and get you into debt if you lose money. There is no guarantee that you will win unless you’re an exceptional trader. This is why borrowing from someone isn’t the best move. All traders should have a source of income to...

I am using finprotrading, they charge a dollar per side per lot. Fxopen is another good one, they charge 1.50 per side.

Yes, it can be a profitable strategy. You can win quick small profits and altogether make decent profits by placing 3-4 trades. However, it can be highly risky if there is no proper exit strategy and risk management.

I completely agree. Trading is risky and you are likely to lose money if you haven’t practised enough. Besides that, getting consistent at trading is a slow process. You have to regularly learn from your trades, and there will be times when you will lose money. If you decide to trade full-time...

According to me the worst thing a new trader can do is not practising enough. Demo trading doesn’t make you perfect in trading, but it can help traders to develop good trading strategies. Another thing a new trader should be doing is keeping track of their trades. A trader progresses when he/she...

As someone who gets easily distracted, I prefer to trade in isolation. There are three things important for trading: a good laptop, a comfy chair, and a peaceful space.

Demo trading is helpful for traders to develop trading skills and come up with their trading strategies. But in live trading, traders are also required to control their emotions because psychology plays a critical role in trading, which traders learn to control during live trading. Demo doesn’t...

A mentor is needed when you need to learn something. If you are a beginner forex trader, you need to consider taking a mentor who can teach you how to trade.

We traders are the biggest challengers. Working in this crazy market sometimes makes me feel proud of myself. No, I am not a narc but honestly not everyone can survive in this market. You need to have a really good mindset, focus, dedication and so many other skills to be able to benefit from...

To be honest, right now it’s a rocky road for me. So, these ups and downs never let me feel bored rather keep me excited as I experience all sort of emotions