Recent content by lotcamel

Candles in the candlestick charts are bodies that represent bullish and bearish trends. Candlestick charts highlight the open and the close of different time periods more distinctly than other charts, like the bar chart or line chart. Forex price movements are perceived more easily on...

Well, that’s a difficult thing to do. We can always work on minimising losses but avoiding them completely is near to impossible. You can consider tweaking your strategy in accordance with the current market situation and reduce the capital per trade if losses are going beyond your affordability.

If you see your losses as lessons, you never call yourself a loser. So, learn to be a learner because you cannot make profits all the time.

Risking 2% of the total trading amount per trade is my golden rule also. The aim is to make consistent profits and not to make a big loss once and sit idle forever.

Why should you demo trade? -Build trading skills and strategies in a risk-free environment. -To understand the trading platform. - To get the sense of the forex market

You don’t need to have certain education qualifications, but the knowledge of finance and mathematics is useful. But anyone can develop that because you don’t need to know any advanced concepts. Nonetheless, you should be aware about how the forex market works and types of analysis—fundamental...

According to me, the biggest mistake traders make is that they don’t understand how the market works and how it can help them to meet their financial goals. They ignore the risk and put money without a second thought. They don’t do any research. If you decide to enter the market, think about...

All you should care about are your trading needs when looking for a broker. I have been trading with FinproTrading and that’s simply because it allows scalping and I get fast order execution speed and tight spreads.

That’s right! This is so because our emotions impact our trading decisions. Traders should never ignore emotions in trading. Be it greed, fear, or anxiety. There are solutions available to overcome them. All traders should start slow and build confidence and focus on minimising loss.

It is so because strategies are not 100% accurate and traders need to be flexible. Traders change their strategies as per their needs. Strategies that work for one pair may not work for another.

No. Forex trading is more about your psychology than any other factors because your emotions manipulate your trading decisions. If you can’t control your emotions and become impatient, then you’re likely to lose more money.

We all are aware that forex is a risky market, but many inexperienced traders do not take the necessary steps to minimise their losses. Even if you have the requisite trading skills, not having a proper risk management strategy can make trading highly risky. All traders should risk capital which...

Yes, scalping can be a very profitable strategy for traders, considering they know when to exit their traders. Scalpers should also have an understanding of indicators such as EMA, which can help them identify recent price movements. Generally, traders trade between 1 and 15 minute time frames...

It is important that a forex trader releases stress. I prefer walking in nature or playing with pets. I also focus on my mind. Engaging in meditation or some therapy can be very stress-relieving.

You only need a workable trading strategy to become profitable at trading. It is not difficult to create one. Perform fundamental and technical analysis and backtesting. That is helpful.