Recent content by Piccadilly

For fair pricing and the safety of funds, it is crucial to find and trade with a regulated broker. There’s a good list here too of regulated brokers https://digitalcashpalace.com/forum/threads/cysec-regulated-forex-brokers.68832/

Different traders have different trading requirements based on the their trading strategy and trading style. No one fixed parameter can match all. An experienced trader might look for a broker with more advanced trading tools and features. Whereas a new trader might look for simple and low cost...

I don’t prefer bonuses because somehow, these are offered by the brokers to cover up for their useless features. Over bonuses, look for the spread size, commissions, order execution, and customer support.

Different traders would have different requirements. Being a scalper, the features I like to see in a broker would include tight spreads, high leverage, and fast trade execution speed. Whereas traders with other trading styles may have different requirements.

Being a part time trader is a safe plan as you still have a job to back you up in case trading does not work out for you. Having different sources of income is always good. It can be a struggle at first to manage your time and juggle between the two. But you will never get bored while trying out...

Keeping a trading journal is a good practice for all traders. You will be able to reflect upon your decisions and trading style when you write it out. Sometimes I read my old trading journals and get surprised with how much I have grown as a trader and also as a person. It helps you to keep...

No. it is entirely impossible to earn in forex without learning about the market and acquiring the right skills.. You’ll just end up losing money.

Political events have a large impact on the market, which may not always be something that's good for it, for example with Brexit, the market suffered quite a bit.

Yes, demo trading is of immense value to beginners. A beginner trader can learn about forex trading and simultaneously practise in a demo account. There is no risk of losing real money. Hence, the newbie can test every strategy and currency pair without any restriction. Some intermediate...

I prefer to trade instead of partying. If you can trade with patience, hopefully your party will be bigger and more luxurious. It’s better to invest money in trading than wasting it in parties, but that’s my opinion. Not every trader will agree with me, which is fine.

Yes, sure it is risky but profitable. But do not be anxious if you have good risk management skills and strategies you can make huge earnings in forex trading. Always, trade with a risk of less than 2% of capital, it will help you to manage your account.

The saying "Don't look for shortcuts" is true in forex trading. But, that doesn't mean you can't find ways to shortcut your learning curve. It just takes extra time, some creativity and a detailed plan. Try to find a mentor or someone who can point you in the right direction. The most important...

You will find many brokers that claim to offer tight spreads, low commissions, and fast order executions. But you will be on a plus if your broker offers education material and economic calendar. As trading requires ongoing education and knowledge of the market, getting your requirements...

Discipline is the most important factor in forex trading. If you are not disciplined in your approach, you may end up losing trades. When you take a trade, make sure that you have a stop loss in place, and then make sure that you exit your trade according to your stops. If you are taking a lot...

Scalping is a type of short-term trading in which traders can profit from minor price fluctuations. It is risky, but if you have a proper exit strategy, it can help you earn excellent gains. Understanding indicators is critical and beneficial for scalping.