Search results

Trading can be challenging but many individuals enjoy the thrill and wish to be a part of the market to win. There is the fear of losing but by applying certain risk control measures, it is possible to lower the impact on the trades. Traders must rely on their own wit and knowledge to profit.

Certainly, those who have a financial background are familiar with the terms a bit better than those who aren’t. There isn't a specific course that they need to study in order to trade in the market. Anyone can enter the market from any background, as long as they're open to learning.

Basing facts on assumptions will only lead to major losses and traders shouldn't go down that road. They should develop knowledge and a sturdy understanding of market sentiment so when they do make moves, they’re solely based on accumulating returns.

Sitting in front of a screen does not do anything other than earn huge profits. What’s the use of enjoying those profits with poor health! Idle sitting because of relying on robots to trade is another big problem.

Absolutely, one should choose a broker according to his/her trading style and requirements. I did the same while choosing fxview and pepperstone, was looking for a regulated broker with good trading conditions, found two. Been trading with them ever since.

Hi there! New traders must begin by analysing and studying the market’s sentiment thoroughly so when you make moves, they’re well planned. Practice on a demo account for a month or two and get familiar with the trading process. Good luck!

These tips are very helpful indeed! Traders need to focus on managing time and money efficiently if they want to minimise risk and move forward in the market.

Entering the market with expectations that over exceed their own limitations is not logical. Traders need to keep in mind the risk and external factors at play during the trading process as they could affect price movements. Traders should give the process time and learn how to enhance their...

Traders should focus on all the important factors of the process. It is the only way they will be able to gain profit in time. Trading in smaller lots will be beneficial in the beginning and traders should learn how to expand their scope for grasping new information along their journey.

Keeping a journal will allow you to track your progress in the market. It can assist you in determining your strengths and weaknesses in forex trading. Keep a journal and go over it on a regular basis to see if you're on the right track or if you need to make some changes.

A professional trader is someone who knows everything about the market and fully comprehends trading. He also possesses other related trading and analytical abilities and has a good trading psychology.

Stop loss is a crucial part for beginners. But once the trader knows how to manage risks, and has mastered identification of chart patterns, the trader can manually guide a trade to maximise the time for a pattern to form. As this is risky, because it might hit low to margin level, that is why...

Hi there, yes it is indeed relevant as it helps you understand the market a little better. The books I started with were, ‘Currency Trading for Dummies’ by Brian Dolan and Kathleen Brooks and ‘Trading in the Zone’ by Mark Douglas. These are amazing and detailed reads and I urge you to browse...

Scanning, analysing and reading the market sentiment is important to make the correct decisions and move with the market, when necessary. Traders need to keep in mind the different factors that affect the market and how you should minimise the impact. Following a plan helps bring structure to...

Political impacts have a huge impact on the forex market. Any kind of unrest in a country or a continent may lead to a currency’s downward spiral. That may also lead to an economy’s downward spiral.

It’s true, many newbies rush into making quick money and forget to spend time analysing the market conditions to get better at making decisions. They fail to follow risk management strategies which often leads them towards an empty account and no profit. Traders need to practice patience and...

It surely is unpredictable but knowledgeable and experienced traders are able to make more accurate predictions about the market fluctuations using their analytical skills. Beginners should also focus on learning to analyse the market first in order to predict the currency price movements. You...

I think knowledge is important for marking a good beginning as a newcomer in the forex market. But you are bound to make some mistakes during the initial period as you lack experience. Because there are so many aspects of trading which can be learned from hands-on trading experience only. That...

Logical decision making is a skill that a trader has to learn and develop over time. We are prone to making decisions and taking up trades based on our feelings and emotions. But we must train our mind to leave the emotions behind and focus on logic when it comes to trading.

Surely, we need a lot of patience to survive in the market as a beginner. Those who lack patience will give up easily even before they become skilled enough to make profits from trading. So, those who have patience surely have an edge over those who are restless and impatient.