Recent content by Mugmag

The forex market is highly volatile and evolving on a regular basis; currencies change, and hence there is no perfect assurance while trading. As a result, the risks increase. Risks involved with trading, risks associated with entering the forex market, and risks of being scammed are all very...

Both are equally important, with technical analysis dominating in the near term and fundamental analysis dominating in the long run. Regardless of your trading style, however, you should be full-versed with both.

@Gito Dinev I agree, most important thing is having good trading knowledge, a workable strategy, and then the right broker. This is why I chose to demo trade for which went for like 6 months with coinexx before moving to live account. This helped me immensely in finetuning my strategy, and only...

I never felt so. If it was easy to make money through forex, there would not have been so many losing traders. It’s best to not make any assumptions and find out what live trading looks like before you take any risks based on your assumptions.

Developing the right trading attitude is as important as developing a profitable trading strategy. You won’t be able to use your strategy properly if you can’t stick to what you have planned. With proper planning, you will know where you need to make improvements.

It may be difficult to control your emotions but if you don’t control them, you will end up losing money every now and then. Neither become greedy that you don’t think about opening trading positions nor become so fearful that you start missing important trading opportunities.

Being an emotional trader will not just make trading difficult for you but will also keep you from understanding what needs to be improved to be able to stay in the market for a long run.

I don’t think anything other than money can be a motivation for traders to keep trading. In spite of all the risks and challenges, it takes a big heart and a strong mind to trade and take losses.

I think this is a trader’s best decision. With forex trading being a tough task, being a full-time trader is something that I don’t feel is a good decision as your money will always be at risk and without a regular source of income, it will get tough to keep trading.

Once you have obtained the basic idea of trading, there is no need to practice on a demo account. There is a lot that only live trading can teach you like emotional control and combating real risks and real losses. So, trade with a small amount as soon as you have learnt to place a trade.

As a trader, you will sometimes have to forget about your losses as if nothing happened and sometimes, you will have to accept them to find out what went wrong. It’s important to learn along the way so that you are getting better with every result you are getting.

Yes, that's true. The forex trading market is a highly sophisticated and difficult market. In order to become a successful trader we need a lot of knowledge and expertise. Also, to make lucrative trades you must have a solid understanding of the various fundamental factors such as inflation...

Like the majority of traders, I like EUR/USD. It is the most predictable, popular, and has the smallest dispersion. Beginners should concentrate on the major pairs. Beginner traders should stay away from high volatile pairs like exotic pairs. Beginners should avoid these combinations because...

It is impossible to make money in the forex without knowledge and expertise. See, foreign exchange market is liquid and prices fluctuate frequently. So it is not possible to trade successfully without a deep knowledge. This way you can gain nothing but disappointments.

Greed can lead to changing the trading positions often which is risky as the market is highly volatile and hence unpredictable.