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That's right. Revenge trading is the worst thing a trader can do. Given the potential repercussions of revenge trading, putting a stop to it is in everyone's best interest and for their own gain. You must retain your composure and keep your emotions under control to prevent a revenge trade...

Reading Forex books as a beginner or seasoned trader is usually one of the most popular ways to learn about crucial forex trading knowledge. Mark Douglas's book The Disciplined Trader is an excellent resource for new traders. It is a psychology-based book that claims that a clear mind and mental...

Understanding the workings of the Forex market, having faith in your research, and adhering to your trading strategy's guidelines are all necessary for becoming a successful trader. Make sure you have a level head and are making informed, logical judgments when trading. Make an effort to control...

For beginners, I would suggest going for a micro account as it allows traders with small capital to trade as professionals. The smallest contract for a micro account, also known as a micro lot, is fixed at 1,000 units of money, or 1% of the size of a regular lot. Due to the lower risk involved...

The knowledge of market analysis is essential to conduct profitable trades. Make sure you have a workable strategy in hand. Backtest your strategies before trading live. Keep a tab on latest news so that you get an idea where the market could be headed.

Forex traders should be alert, smart and knowledgeable while they trade. They should be disciplined and should practice to master the art of trading. It takes time to learn, develop new skills and analyse the market sentiment efficiently, so practice pays off. As soon as the trader figures out...

Shortcuts can lead to losses, it is better if you, as a trader, focus on sticking to your plan, learning from mistakes and trying to analyse the opportunities and select the right one. This is not an easy process and traders should be mentally strong to bear the stress. Calculate a risk reward...

Forex Forums are a great place to develop understanding of the market. They are basically communities of traders where you can learn about the market and support aspiring traders. Some forums also offer free learning resources, which can give a great head start. Babypips, dcp, and Forex...

Like most traders, I don’t prefer trading with exotic pairs as they are quite unstable. Plus, because of high spreads, it's a bit expensive to trade them.

How would you become successful if you lack a trading system and have no control over your emotions? New trades fail because they lack skills and look for shortcuts to become profitable in the market, which isn’t very reliable in trading. The first step should be about learning about the market...

A strong foundation in the subject is necessary if you are starting something new, otherwise you will have difficulty in surviving the market. However, the general case is people don’t care, especially newcomers. Because of their lack of trading system, planning, and discipline, they fail. Thus...

Greed is a complex emotion, and it can be difficult to self-identify greed, because as humans we are always trying to justify our own actions. Greed can lead to over trading which can cause more loss. Here are 3 steps by which you can control your greed and trade efficiently - 1. Establish a...

A challenge that is ‘worth it’! Forex can be definitely challenging, and many people may not start making consistent profits even after 2-3- years of trading. But one thing I must say is that, if you practise forex trading in the right way, no one can stop you from being a successful trader.