Forex trading is an interesting thing to do. And it is important to develop a passion for forex trading if we really want to succeed in the market. And the passion for trading can only be developed if you study the market carefully and deeply.
Risk management is the only way to know how much risk is manageable. The proper risk management minimises the impact of loss. It is very important to have a proper risk management plan in place before a trader actually starts trading.
It’s been a while since I got into forex but I am still unable to devise a profitable strategy myself. So, is it possible to try out readymade strategies in a way that I could copy them directly to my account? But I would like to know the strategy in detail and would also like to see how it has...
One of the main criteria has to be regulations. If a broker is not regulated, then there will always be a question on the trading conditions and safety of funds. So, make sure to choose a regulated broker. https://digitalcashpalace.com/forum/threads/cysec-regulated-forex-brokers.68832/ - I found...
I think bonuses are a great way of kick-starting your trading career. You get free money to trade and explore the market. I don’t mind admitting that bonuses help in taking risks that I would have otherwise never even thought of.
If your technicalities are strong, any broker would work for you. Broaden your scope of knowledge because that’s how you know what you want and what your research must head towards.
That’s a very unique question in itself. I mean what else you expect a broker to offer! As traders, all we care about are low commissions, tight spreads, fast executions, and a good customer support. I am not sure what else I am missing.
That’s the thing about trading. Regardless of how well prepared you are, you may still lose. Nothing is guaranteed here but you can still increase your chances of making profits if you analyse each trade properly.
Everybody has his/her own way of seeing things, so that means, there is no standard criteria for choosing a broker. It depends upon the requirements of the traders, their trading style and experience.
In the end, that’s all that matters. A good broker who doesn't make trading difficult for you and provides everything that’s needed for a good experience.
I may. I don’t think that the broker’s regulations have anything to do with the services they offer. A well regulated broker might not be able to offer satisfactory services.
Stop loss should not be hit that easily. S/R levels should be used to determine where sl ought to be placed. The price is likely to bounce up from the support level but if it does come down your stop loss should be placed right below it. Now your stop loss would only hit if there are high...
Demo trading is not a one time thing according to me. Mostly it is considered helpful for beginners but I believe it is helpful for regular traders and even experts too. So, I would say there is no limit to how long it should be used. If it is a beginner, demo trading can be used for initial...
I don’t think there is anything like a broker that lets its traders get the best prices. All brokers are there to make money and they have large markups most times.
A broker must offer great trading conditions, have low costs, and should not put unnecessary trading restrictions. Also, check if they have a nice customer support team or not.