Search results

A forex trading journal will become your best friend when trading. To assist control their emotions, remove them from their trading, and monitor the effectiveness of technical setups, every professional trader should keep a log of their trades. One of the biggest errors forex traders can make is...

Emotions make us too risk-averse and make us intentionally avoid making judgments. A trader who is experiencing dread may play it too safe, close winning trades sooner, and do nothing with their account. It is crucial to understand trading psychology and use it when trading because of this. All...

Yes, absolutely. If trading is affecting your health, personal life, or family life, you have the option of quitting. Money is important, but it is not as important as your health, family, or personal life.

Trading forex profitably requires a certain skill set. You must arrive with reasonable expectations. Therefore, finish your education first to prevent any misunderstandings. You can find a lot of free resources online and on YouTube. It's straightforward: you will quickly improve as a trader if...

Professional traders do not trade randomly and always go with their plan. For the purpose of finding trading opportunities, they combine technical analysis and fundamental analysis. Considering that markets are constantly changing, they constantly update their skills, review their results, and...

It requires a significant amount of dedication and effort to make consistent efforts. To make accurate predictions, you must have a solid understanding of the market and be able to read the charts correctly. You must also be disciplined and stick to your trading strategy. If you can do all of...

The only problem I have in forex trading is to manage my emotions. I have been trading forex for a while now and I have had some success. The only thing that has been holding me back is my emotional management. I tend to get too excited when I see a trade going my way and I end up closing it too...

I couldn't agree more! I've seen so many people get scammed by fake forex traders using fake screenshots of success. It's so important to be careful and do your research before investing in anything.

Learning is constant in this market so traders can’t find a quick way out without spending time analysing and understanding the different conditions in the marketplace. Traders should solely rely on their skills and effort to make the goal they wish to achieve.

Basically most traders strive to achieve financial freedom in the Forex market so they need to prepare themselves to face the tense situations. It is not a simple road and there will be tests and traders need to stay alert. Patience and determination are two sides of a coin so these are skills...

Although there is no such thing as ‘off season’ officially in the forex market, traders who have been in the forex market for some years, or have analysed the historical price action, will know that August is definitely the month where the daily liquidity drops than the normal value. Plus there...

Beginner traders shouldn’t start with a huge capital but consider opening a micro account. With the help of a micro account, traders will be able to trade and understand the live market, all while gaining experience of how it works with the strategy, and feel the emotions of trading as well...

I agree. Your ability to succeed hinges on how you intend to interpret market mood and make decisions when changes and events are occurring. Although it might be difficult and hazardous, if you approach the market correctly, you can eventually turn a profit. It can work if you are organised and...

Patience is an essential quality you'll need for successful trading. There is always a way if there is a will. You can become a profitable trader if you have the patience to study a trading strategy, stick with it, and try new things.

One thing that I have realised in my trading career is that there are many people who want to get into trading but they don't really know what they are doing. They think that by using automated systems they will be able to trade without having to do any research or reading about it first. This...

I have tried trading with stop loss and without stop loss and there are some problems with a strategy without stop loss. The first problem is that if the market goes up, you're still in profit but not as much as before. The second problem is that if the market goes down, you're still in profit...