Recent content by lynnsandoval

Right! Professional traders know their moves. They know exactly what to trade and when is the suitable time for that. A professional trader wins more trades than he loses.

Most no deposit brokers only provide $10 or $30 which I don’t think is sufficient for anyone to test a broker properly because you’d require enough to be able to execute at least 10 trades or maybe more than that to understand whether the platform is suitable for you or not. This is why I’d...

Money management is important because you have to understand how much you wish to put at risk at a particular amount of time. Taking risks that you can’t afford is worse than not trading at all.

It’s about finding the most appropriate way of trading. You can see what others have been doing and try that on your demo account. If it works for you, there is no harm in using it. But make sure that you customise it if you face issues with understanding it.

This is the 2% rule that most of the traders follow. It is very important for a trader to calculate the risk properly and prefer not to risk more than 2% of the total amount in the account. Many traders also calculate the risk reward ratios and prefer considering 1:2, or 1:3 R/R.

Forex trading is risky but has great earning opportunities. In order to grab those opportunities a trader should have the courage to take the risks but wisely enough not to risk more than he can afford.

Every trader should have his unique trading style based on the characteristics of the trader. It is important for a trader to choose a trading strategy which matches his trading style.

Candlestick charts are very important for conducting technical analysis. It helps a trader to determine possible price movement based on past patterns. Candlesticks are useful when trading as they show four price points (open, close, high, and low) throughout the period of time the trader specifies.

Demo accounts are designed to help traders to get acquainted with the real trading interface and develop trading skills by trading with virtual money. Why this isn’t enough is because trading includes emotions and risk management, which many traders ignore because they trade with money that is...

Greed is the answer to the question why most traders fail. Forex can be very rewarding if you have the skills and persistence. Traders become impatient and take risks that cost them big. Forex is a market where reward and risk go together. However, it doesn’t mean there is a guarantee that you...

Yes, patience is required because trading is a high-risk and high-reward investment. Therefore, traders first need to be good at placing small risks first and then move to aim for bigger traders. For that, consistency is important. You can’t progress as a trader if you are not consistent and...

Choosing a broker is definitely the most difficult and the most important task. I don’t even remember how many brokers I tried before creating a live account with finprotrading. It’s very important to do proper research so that you don’t end up with a wrong broker.

Yes, trading with a single pair can be more beneficial because every pair requires a different strategy. How you trade EUR/USD may not be the same way you trade with USD/CAD. When you narrow down to one pair, your whole focus is on one pair, which can help you get better at its analysis. This...

Leaning in forex trading is essential to grow as a trader. All traders should learn to backtest and create their own strategies and understand their emotions. They should also be aware of how to minimise risks. There is no running away from learning if you want to become a profitable trader.

The purpose of demo trading is to have some trading skills so that they can be put to use during live trading. If you think you’re confident about your trading skills, then you can start live trading with a micro account.