Search results

Some of the common factors to be considered are regulations, commissions, spreads, and responsiveness of the customer service, etc. I’d also suggest to try trading on the demo accounts offered by the shortlisted brokers to ensure their reliability.

Is regulation the only way to find if a broker is reliable or not?

imo a broker that is regulated can only be trusted for fund security, and cysec being a strong fiancial authority in eu, can be relied on. Here I found list of brokers regulated by them, https://digitalcashpalace.com/forum/threads/cysec-regulated-forex-brokers.68832/ hope you guys find it useful...

Yes, it is risky, but with a good risk management plan you can control the risk quotient and stay aware of the trends. Newbies can use strategies like risking not more than 2% capital per trade, always knowing the right entry and exit points and using stop loss to avoid losing all their capital.

Stress comes from uncertainty and fear. When we are unsure about our actions we will get stressed about the result. Stress can actually be good if we use it to our advantage. It can motivate you to do better and can act as a driving force which makes you work harder. But when the stress turns...

Having a strategy is very important for a beginner. Trading without a strategy will be like going on treasure hunting at a deserted island without a route map. You have to plan ahead what are you going to do once you enter the market and how are you going to do it. You should have a clear goal...

Professionalism is a trait that may be learned through time. Knowledge and patience, strong emotional intelligence, and confidence are all attributes that a professional possesses. Traders who wish to be successful in forex trading must develop the traits listed above.

If you are unsure about your trading ability, avoid this choice. Long-term trading provides long-term rewards; short-term trading, on the other hand, provides short-term benefits. Long-term trading is feared by traders since many lack adequate analytical abilities and hence are unable to...

When you trade forex without following strict risk management, it becomes an extremely risky business. You should know how to reduce trading risk by reducing lot size, trading with low leverage, trading with low spread trading pairs, and so on. So, try to figure out how to get rid of trading risk.

Keeping a journal is an excellent approach to tracking down our errors. We all make mistakes from time to time. The best way to learn is to make mistakes. Keeping a journal is thus a beneficial practice.

A safe and secure trading environment is a must when you trade. It’s obvious that losing is a part of the trading market. But losing your money before trading is disheartening and not something you would want.

Most traders fail in forex trading due to a lack of proper knowledge and skill sets. High volatility and complexity are the nature of the market. Keep learning. Risk management is also necessary to be successful in trading.

Trading on a demo account is absolutely a great step towards better trading. A demo account is only for learning purposes where you can test out all your skills and expertise. Practice as much as you can.

Hey, if you want to make money without getting into the hassle of working a specific period of time every day,then forex is best for you. It is the biggest platform to trade foreign currencies. Its high liquidity and high volatility give you a chance to be profitable, provided you have the right...

Leverage is very helpful if any trader has less money to trade. However, the risk factor will always be there with leverage, so make sure to use risk management strategies when doing leveraged trading.

It is a myth. Forex trading is not easy at all and it is very difficult to trade. Most of the traders fail in this market because they start trading with minimal or no knowledge at all. You can definitely earn money but it requires a lot of knowledge and years of experience.

Every trader must have their own strategy that suits them the best and is compatible with their trading style. Developing your own strategy is a bit difficult as a beginner but with experienced traders it goes well.

Discipline is very important to be consistent with the trades and follow the trading plan strictly.

Risks can’t be avoided but can be minimised by using risk management strategies and techniques.