Recent content by Pedological

The single worst thing that a newcomer can do in a trade is to dive right in and start making trades without first acquiring sufficient knowledge and experience.

The psychology of trading is often overlooked but forms a crucial part of a professional trader’s skillset. Trading psychology is a broad term that includes all the emotions and feelings that a typical trader will encounter when trading. Some of these emotions are helpful and should be embraced...

Dreaming big is important. If you believe in yourself then you can accomplish any dream. Don’t be greedy and keep realistic goals. You need to be confident and make a lot of effort to make your dreams come true.

You may have a goal to achieve in the forex market. But will you stop trading after you achieve that goal? No, right? You will set another goal and try to achieve it. For this, you will have to keep working on your trading skills because these will help you stay on the right track.

You have a lot of time to make money after you have developed an understanding of the market. A small risk would be enough for that. 2% of your available trading capital is surely a good starting percentage. With time when your risk appetite grows, you can increase the risks you take per trade.

A professional trader is someone who has mastered all of the necessary skills and has a deep understanding of the markets they work in. To be successful in the market, one needs to put in a lot of effort and devote a lot of time to learning everything there is to know about it. This way, you can...

Scalpers aim at making profits from slight fluctuations in the market and use leverage to enhance the profits. It is also important to trade currency pairs that offer tight spreads. EUR/USD is the best currency pair for scalping but traders can also prefer using other major pairs.

I believe this is a well known fact, especially among traders who have been trading for at least some months now, if not beginners. When the market changes its directions against one’s predictability, then they should change their trading plans as well. Or, make modifications in their strategy...

I trained myself to be serious when my trades are open. So, I keep a track of the price charts and the trading movement when my trade is open. Also I have set custom notification settings on my mobile to notify me whenever a political, and economic news is broadcasted so that I can be updated...

I think getting knowledge is the first step towards success in trading. You must learn and understand various fundamental and technical concepts to become a skilled trader. Theoretical learning alone won’t be enough to become profitable. You also need practical knowledge which comes from...

Trading forex is a high risk-high reward profession. Your success and profitability will depend upon your skills and ability to manage the risk. A professional trader always pays at most attention to risk management and that is what every trader should do.

Bad trading habits are mainly a result of the losses you make in the market. But as you won’t always be making profits, it would be best if you prepare your mind for the same. Your mind has all the power and if you can control the way you react to the market changes and your failures, it will...

When you start your trading career, it is not possible for you to tell in which direction it will go and whether you should set long-term goals or not. It comes with the time you spend in the market and the effort you put into understanding the basics of the market. So, instead of entering the...

Factors that make the foreign exchange market unique are its continuous operation, large trading volume, and geographical dispersion. In addition, this market uses leverage to enhance profit margins.There is a reason why forex is the largest market in the world: It empowers everyone from central...

Traders often lose because of their herd mentality. Also, they don’t learn the market properly and start trading without any knowledge. Just as any other business, we require ground knowledge to be successful in Trading Business. Trading is not an overnight skill that one can master, but one who...