Search results

Yes, Forex trading is risky. Like any other investment, it involves risks. But the rewards are higher than any other investment. Due to the high volatility and liquidity in the forex market it is highly lucrative than other markets.

Imo, following the right and systematic approach towards forex helps in giving the right way for choosing a trading strategy which suits their trading style.

There are a few reasons for this - 1. By limiting your risk you ensure that one bad trade will not completely decimate your portfolio. 2. By only risking 2% you give yourself room to make mistakes. Everyone makes losing trades from time to time, but if you only risk 2% per trade then those...

The main problem which I faced as a beginner was managing my emotions. But I have come to a point where I no longer make trading decisions based on impulses or emotions. I have learned to think logically every time I trade.

Discipline is very important for becoming a good trader in the long run. Professional traders are always disciplined and stick to their plan no matter what. We must keep a set of rules to follow so that we don’t give into our urges and trade with caution.

Trading is not about what you have done in the past but what you are planning to do in your future. You must obtain information about the market you want to trade and find out how you can stay in the market for the longest.

It’s not about how many books you read or how many videos you watch to learn trading. What matters is how well you can make use of the knowledge obtained. After reading, obtain some experience of trading practically too so that you know what it is going to be like to trade in the forex market.

As trading is not going to be less than any business for you, you have to make sure that you study well and develop an understanding of what you are going to do. Without education, you will be lost in the market and you won’t even be able to handle any unwanted situations.

It goes without saying that if you want to become a successful trader, you must be ready to take losses. No matter how much you try not to make losses, they will always be an important part of your trading career. All you have to do is stick to your trading plan so that even if you make a loss...

To feel emotions is only human, there is no way one can avoid it, like the risk levels in the marketplace, if not controlled effectively, it can affect your profit making strategy. Similarly, when a trader learns how to manage their emotions and still make the best out of the opportunity, they...

I wouldn’t risk my profit, and capital in forex. It’s already quite a tough job to make decent sustainable profits. I always prefer using risk management concepts more than reading charts. Saving your profits and capital from probable risks is a very essential and important way to increase your...

I couldn’t agree more. Most beginners jump into live trading without being educated enough. Many beginners do not even know how to read charts and candlestick patterns, they just gamble and predict. This is not the right way. You must learn and properly trade in order to be successful. If you...

Losses are inevitable in forex trading. Risk management is the key to successful trading. The concepts of risk and money management are crucial for minimising the losses and maximise the profits.

Without patience, it is impossible to learn and have a deep understanding about the forex market which is a vast concept and requires a good amount of time.

As they say, it’s all in your head. Before you indulge in live trading, you must make up your mind that there will be risks and stressful situations where you will have to keep calm and trade as per your plan. Right trading psychology is a result of the right market understanding.

Demo accounts are meant to make you familiar with the live trading environment. Once you get an idea of how the market works and how different platforms function, you must leave demo trading and start practising with a small amount on a micro account.