Recent content by maxlvg

It’s all about a trader’s efforts; a trader cannot observe and copy what someone else is doing. A trader has to observe their trading and not what others are doing. Others do as per their own convenience; we have to do as per our own.

Mt4 for me. I use it with turnkeyforex. It’s easy to use and offers everything one needs for trading

Traders can also find success by focusing on the market during their spare time. You need to protect yourself from the uncertainty of the trading business. It is beneficial to have another business or job in addition to your primary one. Part-time trading allows you to manage and work at other...

A successful trading career requires discipline and patience. It is nearly impossible to survive in the market without discipline. It is preferable to cultivate a trader's mindset and learn to be a disciplined trader.

Also, defining the position size of the trade is also important. Well calculated and definitive position size will also help in minimising the risks and intensifying the profits.

Trading with a stop loss is crucial because, with an SL, we can effectively reduce the risks associated with forex. For this reason, we should constantly use SL. When trading, I like to set my stop loss at 2-3% of the capital. so that the losses incurred don't increase.

We can either choose to trade with the perfect management of emotions or be a slave to them and be controlled by our emotions. We cannot let our emotions dictate our trades. If we do so, it will result in greater losses because of our inadequacy to take the right decisions.

Everyone has a unique style of trading. The point is to make it profitable and not as unique as it can be. We cannot copy from others as it will put us in great danger of losing. When we look at others’ strategies, we can tweak ours, but it is not necessary.

Dreaming is the beginning of everything. Whether it is about being successful at trading or any other goal that you need to turn into a reality.

Over the last decade, there has been a 40% increase in daily turnover of the forex market which means more and more traders are joining. As a result, there is a surge in the number of brokers too but it isn’t right to trust any new broker. I always prefer to open an account with brokers who’ve...

Forex is not just about making money; it is about making money with sound risk management. A good risk management strategy prevents heavy losses that one might suffer during trading. Traders make mistakes while trading and should learn from them instead of repeating them repeatedly. This is also...

Beginners are most often concerned about earning money without enough learning. Their desperation about earning money quickly is what makes them lose in the forex market. They do not understand that forex is all about learning and practice, and they start trading without putting enough effort...

Trading plan is of great importance while trading. Having a well calculated trading plan eases the trade and guides the trader in making entry or exit decisions.

You can’t hinder the basic human emotions from showing up when you go through a certain situation. Instead of trying to control how you feel, you must control how you react to market situations. Sometimes, you may have to embrace them and sometimes, control them from being a part of your trading...

I don’t actually like to put my money at risk but as there is no other way of making gains in the forex market, I have been taking risks for the last few years. Thankfully, I can take risks as per my risk appetite, so I hardly make a loss that keeps me from trading.