Search results

Yes, every trader must develop a trading plan that aligns with their trading style. Actually, a well calculated trading plan is very important for trading success. You must first define your objectives and devise a good trading plan.

Psychologically, humans are motivated to act by their passion. So, passion is very important in order to be consistent in the forex market. You will be unable to achieve your objectives without passion. To be successful in anything, including trading, you must be passionate about it.

I second that! There are many regulated brokers with low minimum deposits. It can be $100, $50 or even lower. One can even start with a capital of $10 wth brokers like AAAFx and FXTM.

It’s more of a game to me. I take it as a challenge, I might feel overwhelmed. I take it as a game where I try my best to win and feel rewarded. But when I lose I try to improve my strategies.

While there are many who look for quick results in this market, there are also hard working traders who are disciplined and follow their plan. It is true that many enter the market without knowing what they want and fail. But, if they wish to change their outlook, they can change their journey...

Each trade has a percentage point where it reaches a certain level of profit, if it matches your goal, it’s okay to exit. However, this depends majorly on every individual's specific game plan and time frame they choose to trade with.

It’s not motivation that drives me, it is discipline. Motivation will wear off after some time, but your discipline will always stay with you. Change your mindset, and you will see yourself considerably becoming better.

Forex traders should select the leverage level that they feel most at ease with. A lesser degree of leverage, such as 5:1 or 10:1, can be preferable if you're cautious and don't like taking numerous chances or if you're still learning how to trade currencies.

I usually go for cryptos withdrawals which are quicker than I expected. Skrill also went quick as well.

People have a misconception about the word“professional.” They think they can’t make mistakes or perform a bad analysis. That’s not like it. We all lose at one point, no matter the time and place. Professional traders are not Gods. The market can shock them as much as it can shock new traders.

It’s good to dream big, but it’s bad to dream about unrealistic things. For instance, many new traders think that they will become rich instantly after joining forex. No, it doesn’t work like that. Dream only that is possible and dream what you are ready to work for.

Certainly not in my opinion. Trading in forex involves a high level of risk and is complex. if you lack an adequate understanding of the market and its internal dynamics. There is a lower probability that you will make any money at all.

There is a profit and a loss in every business. Profits allow you to make money, while losses force you to learn something valuable. It is important to take something positive away from every experience of failure.

I’ve gone ahead with AAAFx. Trading conditions have so far been good. I got my payouts on time as well.

A strategy helps to stay in line with your goals. It helps you know when to enter and when to exit your trades without getting carried away by your emotions. If you have never traded, you may think of it as an easy way of making money. But when you do it in reality, you get to know how patient...

I don’t think it is anything not to be taken seriously when you have your hard earned money on the verge of losing. You can never be sure about the results of your trades but still have to keep taking risks as a trader. It takes a big heart to keep doing this and it’s surely not everyone’s cup...

Trading on emotions can be quite harmful. It is better to trade on logical assumptions. Keep your emotions away from your trading.

Thinking differently will make you stand out of the crowd while thinking the same as a crowd will make you only a part of the crowd. Having a right mindset and good trading psychology makes a difference in trading.

These pointers are beneficial to new traders. I'd like to add some more to the list. 1. Keep practising. It will help you in becoming a better trader. 2. Scams are everywhere. Only your knowledge and expertise can assist you in identifying and ignoring them. 3. Trading in foreign currency...

I don’t think unique features can help us make more profits. One’s trading success depends on their skills and how well they apply it in the market. If a broker doesn’t let me execute my strategy properly, what would I do with any tempting unique feature? My trading requirements are simple and...