Recent content by Mecine

Yeah, I admit that books do have an impact on the trader’s mind and it can definitely open up their imagination. Reading helps them understand and analyse the market on their own terms so they get to apply fresh ideas and test it out on a demo account before trading in the live market.

Understanding market psychology can be tough at first but in time through analysing and scanning the market for opportunities, traders will get the hang of it. Read this book written by Denise Shull titled, ‘Market Mind Games.’ It will help in developing the crux of market psychology.

The best method for finding a suitable broker is opening a demo account with them. And if I had to recommend you a broker from the list I would suggest Fxview and IC Markets. Good ones!

Passion is a positive human feeling. It pulls you towards the things you enjoy the most. If you are passionate about anything, you are likely to work hard and with determination, regardless of any obstacles. So, absolutely, passion is essential.

There is no prescribed qualification suggested by any law or body. However, if you have a basic understanding of the market and trading, you can participate in the market and try to make money. It's not necessary to have any special training to participate in the foreign exchange market.

We should never try to trade on a demo account with the feeling of ‘it is a demo account. Instead, we should trade on it with the feeling of ‘it is a real account’. Many beginners do not consider this and lose. We should trade, keeping real-life challenges in mind.

It’s true that all traders have their own trading styles. But it’s also true that when they start, they use someone else’s trading style because they are yet to discover theirs. It gets easier for them if they learn to keep patience and maintain a trading journal to know what they must do for...

Trading becomes a lot better when VPS is used, as there are no lags in connection, plus it’s fully secured. It’s even more useful when trading using EA. I’ve been using VPS service with both my brokers, fxview, and fxtm, quite affordable and has plenty of features.

Maintaining discipline in your trading career is paramount. Building a trading plan doesn’t only help with the entries but also the timely exits. So, don’t build a plan for a formality, stick to it so that you are safe.

You may have a proven trading strategy. But if your emotions keep you from making fruitful trading decisions, they are a big problem. You must learn how to control them from being a part of trading decisions.

Indeed! The problem with beginners is that they haven’t put in the efforts yet and they expect to see the results. How can you expect results without testing strategies? We all need to get your basics straight if we care about making money in the forex market.

Can you become a pro athlete without ever stepping a foot in the practice ground? So, No, you can’t become a trader without gaining any education. Forex trading is a dynamic market. Only those traders make money who are ready to put in the hard work and constantly update their trading skills as...

There are no tips or tricks. You have to learn the forex trading concept in detail. Only your knowledge and skills will help you make profitable trades.

Losses in forex are inevitable and traders can’t avoid them. It is better to have a strict risk management strategy and the right mindset of learning from the mistakes.

All I believe in is having knowledge about what you are trying to do. No matter which market you are trading or which strategy you are using, you must obtain knowledge about what you want to do and how you can do it.