Recent content by Plexpe

Beginners should not focus on what returns they will get if they trade a certain way. They must focus on understanding the market to the fullest so that when they meet a certain trading condition, they know how to react, save, and make money.

No doubt that Forex trading comes with a certain amount of risk. However, with a solid understanding of the market and a disciplined approach to trading, it is possible to minimise the risks and maximise your chances of success.

When things aren't going the way you want them to and it's getting difficult to keep going forward. If this is the case, you are free to stop trading forex.

Part-time forex trading can alleviate the pain associated with market losses. Because when you trade on side, part time, you have an additional source of income to help support your financial situation. It will assist you in continuing forward with your journey. On the other hand, this is not...

I agree. We want to think of ourselves as logical and sensible decision-makers, whereas our emotional state plays a significant role in our behaviour. Emotions influence decision making in both positive and negative ways. Trading produces powerful emotions in traders, whether they win or lose...

Yes exactly. Forex might be a perilous option when trading without a defined strategy and sluggish thinking. It can also be extremely volatile and is not for the faint of heart people who cannot face losses. Certain abilities, expertise, and years of experience are required, or the trader may...

Concentrate on the process rather than the result. The psychological problem of balancing fear and greed in forex trading is significant. Backtesting my strategy and discipline aided me. Know that losses and wins are just a part and do not get too excited or demotivated. Keep up with the...

As a beginner, I faced consistency issues. But as I grew and learned, my consistency improved, and I have started to trade much better than I used to do previously.

Emotions need to be maintained in order to profit. Without maintaining our emotions the right way, we lose. There is no choice, but loss, which occurs because we do not know how to maintain our emotions and how to control them.

When deciding a trader's performance, the psychology of trading may be just as crucial as other elements like information, experience, and competence. The numerous facets of a person's personality and conduct that have an impact on their trading practices are represented by trading psychology...

It is possible to study on your own and become a profitable trader only if you're ready to put in the effort to learn and keep your mind open to new ideas while you're still in the learning process. I believe self–learning is the best and there’s no need to rely on someone else. Take help from...

Most traders start making consistent profits in the forex market after around 3 years. But if the OP has made 7 successful years in forex, he must be a high-level/ professional trader. I wonder what his/her risk:reward ratio is.

Traders need to be disciplined in your approach to the market, in your trading strategy, and in your risk management. Without discipline, it is very difficult to be successful in forex trading. There are so many distractions and temptations in the market that can lead you astray, and if you...

I have been in the forex market for some time now and honestly, I didn’t feel that it was easy ever. Every day came up with a new challenge that sometimes went over my head and I didn’t even get a chance to recover my money.

Since there is no guarantee of the accuracy of forex signals, you will be better off with the free ones. At least, you won’t lose twice the money. But before you go ahead with any signals, let me suggest you to not depend on them and use them just for getting an idea.