Recent content by eddiereich

The term “revenge trading” is quite immature. Every trader needs to understand the fact that you can’t challenge the market and you can’t take revenge from the market. The only mantra to gain consistent profit is moving with the market and creating a strategy that fits with market movement.

Yes, it’s a fact that years don't count, but how many profitable trades you have taken in those years matters. There are traders who are trying hard to attain that consistency in trading but failing, whereas, on the contrary, some new traders are highly knowledgeable and successful in...

It depends on what sort of trading style you follow, how many funds you have to trade? What is the market condition right now? I would personally prefer to analyse all these factors and then decide.

Trading is not gambling. The market for traders is purely based on indicators, political and economic factors and patterns. So, assumptions can make you face extreme losses. Instead, first learn about it, plan a strategy, test it, and then start trading.

These 2 things are essential for success in all the markets.

New Traders try to jump headfirst into trading without actually getting proper knowledge. They learn the basic terminology and think that they have mastered the basics of forex trading. There is a lot to learn in forex trading and if you are ready to put your feet in the market, it’s better to...

I agree, coinexx has been a good choice for me in terms of spreads.

I prefer a long term trade because most of the time there are not as many opportunities in scalping as we think. Secondly I can’t take the burden of quickly analyzing a number of trades and wishing that i had 10 wins. Thirdly, I’ve to pay spreads and commissions on each trade even if I lose the...

For any sort of learning and starting a new journey, you need a mentor. Similarly, you need one for learning and understanding Forex trading. But if you can’t find one, then be your own mentor. Start learning about the forex market, currency rates, fluctuations, indicators, patterns through...

I agree with @Randiall, that experience will enhance your forex trading, but before getting into it, you need to learn about it. The graphs, patterns, techniques, and the right tools help in making a trading strategy that will help you in the process of trading. Start with a demo account to get...

Forex gives a lot of opportunities. If you have a good strategy and know-how to trade, Forex can be very profitable. It is not limited by time or space, so there is no worry of limited hours or access.

Meditation is a very important part of forex trading. Meditation calms the mind and body, which can help you make better decisions in the forex markets and stay in the game longer.

Trading is entirely skill based and practical. You can’t go anywhere with your knowledge alone, instead you need to put your skills to practice in order to succeed. But I agree with the title of the thread. Knowledge and experience complement each other. If practice helps you build the...

Nobody likes to see money flying out of their pockets. Sadly, this is part of the process, and as a trader, you will have good and bad trades. Whether you win or lose a trade, if you learn something out of it, then it will always be a profitable trade.

There are professionals who work in forex trading firms. Some even trade for others part-time. This can be a good way of learning trading because they can quickly fill the learning gap.