Search results

Crypto payments have lower the transaction fees. There are many platforms available, consider looking into their transaction and conversion fees.

If you are concerned about spreads, you must go with zero spreads brokers.

My criteria for choosing a forex broker has always been simple, I look for spreads, commissions and funding methods. Is there anything else that you look into and what brokers are you all using?

It’s not easy to find the right forex broker especially when all of them are advertising to be the best one for you. To avoid confusion, know what you want like no re-quotes, great customer support, and easy transactions.

I like the pairs that are highly liquid because they are more stable and secure. All the major pairs are great but EUR/USD is my personal favourite.

I think most traders like technical analysis. I myself use technical analysis for trading. The main reason behind this is that all the known fundamentals are already factored in the price and I think by studying the trend we can quite effectively predict the future price movement.

How are the spreads on usdjpy and gbpusd?

Youtube can also teach newbies a lot about trading in forex. The choice of the videos on youtube does matter a lot as there are many untested strategies too that are promoted through some videos. Whether it is youtube or other online resources, a trader should always verify the knowledge before...

Brokers offer deposit bonuses to help you open large trading positions even if you have deposited a low capital. The bonus may vary from broker to broker.

@CarmeloGiroux I agree that only with risks can you earn profits. But if the risks are calculated beforehand, the trader isn’t discouraged even if there is loss. Risk management gives power to control the risks and control your emotions when you lose money because you already controlled the...

It would be really great if it is done somehow. It has not been done until now because there are strong reasons. All the nations will have to join in on this. It can be done using today’s technology advancements but it requires effort from every nation that participates in forex.

Timing is everything in forex. If you enter a trade at the right time and exit the trade at the right time, you can earn a huge profit. But it’s easier said than done.

@Mark Dahl Going through a course is recommended but it is equally important to make sure that the source is reliable and the information provided is backtested. There are some courses which have strategies that are not proven to be successful. You should always try and practice it for yourself.

Risk management is an important part of a trading plan. If a trader keeps it at high priority, it is clear that the trader wants to avoid unnecessary losses. Although it doesn’t mean that risk management prevents losses completely, to some extent it is right to say that it reduces the chances of...

After failing with a strategy and making losses, new traders search for new strategies that could work better for them. Instead of this, the actual approach should be to improve the strategy execution and try to practice the same strategy over and over. If the strategy still seems confusing, the...

Political events have a strong influence over all the markets. A country’s or even multiple countries’ economies depend on political decisions sometimes. Due to this huge influence over the global economy, political news impacts the forex market as well.

I agree that losses are common but those losses can be reduced if traders do good planning. Good planning would include risk management, analysis of the market, and choosing the right time for entry and exit.

I will not say it isn’t possible. It is possible to earn in forex without knowledge. But there would be very limited trades that can be profitable without knowledge. It would be more like gambling rather than trading. Even with basic knowledge of trading, chances of making profitable trades...

@dougbennett I totally agree with you. These challenges can be very helpful if we learn from them. Some traders just lose hope in such challenging situations which are actually opportunities to learn and grow.

Try your hands at a few of them before you decide which way to go. Nearly all brokers offer the same things but the main difference lies in their costs and customer service. So, do check them personally.