Recent content by Mayhem

There are a lot of things that can go wrong in trading forex. One of the most dangerous shortcuts that traders can take is to over-trade their positions. Over-trading can lead to losses, and it can also lead to losing money on a long trade or a short trade. This can be very costly for the...

That’s what I did while starting out with coinexx, tested them on a demo. Only added capital once I was satisfied with their trading conditions. This approach always works.

In forex trading, it is important to focus on profits over losses in order to achieve better returns. A high profit may be better than a low profit, but it is important to be aware of the risks involved in this type of trading and to make sure that you are taking the necessary precautions.

It might be tough to regulate your emotions when trading because you experience a variety of emotions such as greed, anger, and fear. Taking regular breaks, doing some meditation, not trading after wins or losses, and sticking to your trading plan will help you to have control on your emotions.

Hey, imo, the right broker is the one that offers trading conditions that complement your trading style.

Though forex trading might seem to be easy, it is not everyone’s piece of cake. Traders need to have a good amount of knowledge and skills in order to trade profitably.

To have a good relationship, traders should choose the right broker from the beginning. I’m trading with two brokers rn, coinexx and sage fx, both are pretty reliable.

Mondays and Fridays are the worst days to trade. I mostly hate Fridays as the market becomes highly volatile and uncertain.

Greed is really a poisonous emotion in trading. It can force you to overtrade. Allowing emotions in your trading can be harmful. it is better to control your emotions while trading.

Undoubtedly risk management is the backbone of forex trading. You can not survive in the market without a proper risk management system.

Yup, I do. Books about forex are actually quite enticing to read, especially books about trading psychology like - ‘Trading in The Zone.’ They will completely change your whole perspective.

Yes. Political events can impact the forex market, depending on how powerful that nation is in world politics. For example, a political crisis in America, Russia, Japan, China, and England, would definitely affect the forex market, as they are the nations with the most powerful currencies.

Ditto. They are extremely volatile and have high spreads. I stick to major pairs. EUR/USD and USD/JPY are my favourites. What about you?

Many new traders who join the market are very hasty in decisions and only care about profits, not the work that is required to put in. Hence, they lose. If you are new, don’t be one of those. Focus on learning, risk management, and forex analysis. With consistency, you will get the reuslts.

An important step to practise to become profitable in the live market is to practise in a demo account. By practising in a demo account you will be more experienced as to how your strategy is working, and can make necessary changes as you feel like without risking any capital.