Recent content by Oscar Shumack

I always follow some indicators to predict the price of the market and these indicators are RSI, Stokistics, Moving average, Bollinger bands and trendlines.

We think many things everyday but they are not effective by the end of the day. We have to work for the implementations of our thoughts.

Strategy testing is needed because a testified strategy produces better result than an untestified one.

Yes many times and it was even unexpected. However, emotion is never a good virtue because it takes away self-control of a trader.

Traders with weak psychology can’t survive for a longer time in the market. So, we have to make a strong psychology for trading because a strong psychology is an asset.

Return depends on risk a trader usually takes but we have to remind it that it can cause us losses too the same way.

Traders mostly follow wrong way of trading, which is a divergence from the right path. And traders have to learn how to use these tools to analyze the market.

Forex market is like a sea which is abounds in fishes and your strategies are like nets for fishing. So, try to make the best use of opportunities.

Loss occurs due to the deficiency of knowledge and traders don’t actually want to enhance their trading knowledge. They feel knowledge earning is a burden.

What I feel is maintaining discipline in trading is essential and this discipline keeps traders apart from taking high risk in trading.

The better our market analysis, the higher the return is. And a better analysis encompasses both technical and fundamental sides that give us a good lead on the market.

I think Forex suits me the best because I have other professions besides forex trading and forex allows me sufficient amount of flexibility and time to run those other businesses.

Demo trading accelerates our ground-up knowledge. A ground-up knowledge about the market is needed to operate trading in the right direction.

We can sharpen our trading knowledge by earning market analyzing skill and this skill is of two types including technical and fundamental. Our skill should encompass both these sides.

We can manage our risk by lowering trading leverage and trading in low spread-consuming trading pairs. But most of the time, we don’t do it as a result we are the worst sufferer to this problem.