Recent content by Merycism

A forex trader must have a systematic approach and they must do things according to their plan. Traders need to keep their emotions in control as emotions like greed, fear, FOMO, etc., are very dangerous for your trading career.

Don't be too hard on yourself. Profit and loss are merely byproducts of the business. It is beneficial to learn from your mistakes. Recall everything and try to figure out where you went wrong. Do not repeat the same mistake twice.

I cannot think of a currency pair that I dislike the most. However, when selecting currency pairs to trade, keep in mind factors such as popularity, spreads, demand, and so on.

Yeah most of the traders do not get success. That’s because they do not give time to educate themselves. Also, they do not practise trading in a demo account. They get greedy and want easy money. They become impatient and look for quick results, which isn’t possible. The forex market is a...

I agree. A good trader is one who accepts losses with grace and does not get emotional during trading. They manage risks well and make use of stop loss properly. They follow their trading plan consistently and most importantly, they are focused traders. They are never greedy or lazy; they...

I’d say knowledge because I couldn’t have chosen the right broker unless I had good knowledge about forex trading. I did my research and set up a few parameters on the basis of which I picked aaafx. Had I not been knowledgeable, I would have chosen any random broker with wide spreads and high...

It doesn’t really matter whether I like risk or not. If I want to work as a forex trader, I will have to take risks and there’s no way out. So, I have just prepared myself for the risks and I take care of them whenever I am going to make a trade.

In one way or the other, you assume things about the forex market on the basis of the previous price movements. But these should not happen out of your imagination and you must make sure that you analyse the market well before making any trading decisions.

If you want to be a successful trader, you should practise for at least 6-9 months in a demo account before going live. This will allow you to learn the ropes, test different strategies, and get a sense of how the markets work. Once you've mastered the fundamentals, you can open a real trading...

The forex market is a risky market, and only those who are willing to take risks should consider trading in it. Others, on the other hand, should not even consider it. Volatility, market conditions, the global economic environment, economic conditions, political conditions, counterparty risks...

Trading on the foreign exchange market is not at all easy. But if you can continue to educate yourself throughout your trading career, then you will find that things go more smoothly for you.

Yes, demo trading is an excellent way to practise and learn about real-world market conditions. It is a great way for novice traders to gain experience in the market without having to risk any real money.

Managing and dealing with greed is not something that can be solved in a few trades over the next few days; it takes time and practice. I believe the most important thing you can do to overcome greed is to concentrate on yourself. When you focus on other people's results and the money they make...

Forex is a psychological game and those who cannot control their emotions pay a heavy price for it. Only by learning to control your emotions will you be able to achieve success. You must work hard to cultivate a mindset in which you do not allow your emotions to get the best of you. Stay away...

The best qualification, in my opinion, is the knowledge that we gain before we start trading. There is no formal forex education needed, and that is really a nice thing. Only one’s capability and calibre function as ‘qualifications’.