Recent content by Stannary

Trading psychology is an important factor that contributes to the success of the trade. It takes time and consistency to develop the right trading psychology that allows traders to make rational and logical trades.

It is always wise to take regular breaks. This allows traders to take some time off and get relaxed. This also helps in maintaining the right balance of emotions while trading.

Yeah, spreads are a part of trading cost, the lower the spreads, the lower the trading cost would be. Both AAAFx and FXTM offer thin spreads, in the range of 0.1-0.4 pips for major pairs. Works well with my trading strategy. How are the spreads with your broker for eurusd and eurgbp?

If you take the time out to learn, the chances for losing are lower. So, it doesn’t harm but only helps. As long as you figure out how to manage time, money and risk, you will be able to protect the capital and make consistent profit.

Yes, you are right. Risk management is very important in trading, and the trader should know what risk management techniques he or she is following. Trading involves using lots of money, and one must make sure to use only the safest techniques possible.

Every trader should choose a broker that meets their requirements. Like in my case, my requirements include regulations and low trading cost, and found aaafx and fxtm match the requirements. Both are reliable brokers from what I’ve experienced so far.

Demo trading allows new traders to test the software we use in real time trading. It also help to understand the trading software platform and use it in real time trading.

A smart trader will learn from their mistakes along the way without any ego getting in their way. They are focused towards the end goal and allow nothing to distract them from earning profit. Loss is inevitable and the only way around it is applying risk management techniques. That is the point...

We must examine the various social, economic, and political factors that influence currency pairs in order to understand fundamental analysis. They are crucial when trading forex, especially for those who trade for the long term.

It’s good to always make changes in your trading though it entirely depends on your trading knowledge and experience. If you have a positive experience, you can follow a lot of different currencies in the demo to see how it performs. Alternatively, it is preferable as a novice not to trade too...

Discipline is key and if traders don’t maintain an order of planning, strategising and applying risk management to their trades, they will continue to suffer loss. They should make notes in a journal and refer to as and when needed so they don’t waver off track.

Since learning is an ongoing process in this market, traders need to adapt to the current market situations accordingly. Selecting the right time frame and applying good risk management strategies is part of the game towards winning. Skipping the learning phase and trading blindly will only lead...

A lot of people are doing well in the forex market with proper knowledge and experience. Learning about the Forex market is the first step. First start with basic theoretical knowledge and then proceed to practise in a demo account. Know that you won’t grasp everything in one take; it takes...

Of course. I see a bright future with forex. That's why I’m putting my time, energy, and money into it. I am patient and consistent in my efforts because I know these are the keys to success.

For part-time traders, the forex market is appealing since it is open 24 hours a day, continuously changing, and offering a wealth of opportunities to profit at any moment of the day. But the FX market is incredibly unpredictable. All traders run the danger of losing money because of this, but...