Recent content by Somerze

The main problem that I faced was being disciplined. But over a period of time and with experience I learnt to remain disciplined.

Psychology is a critical element in forex trading. It can make the difference between success and failure for a trader. The ability to control one's emotions, stay disciplined, and make logical decisions is essential in this business.

Bonus shouldn’t be the main point of concern for any trader, but trading conditions and how much time does the broker take to process funds should be the main. The same criteria led me to choose two brokers - coinexx & lqdfx. Although they have a 100% deposit bonus so that is just an icing on...

Many newbies make the mistake of not following their own ideas in the beginning. They listen to different pieces of advice that may not be the best choice for them. Hence, learning on your own is the best way to underhand the market sentiment by researching and studying the nature of risk...

Emotions are only a natural form of feeling, you can’t avoid it like the risk in the market. All you can do is learn how to tone it down, control it to an extent where it doesn’t affect your trading decisions. It is important to be practical and logical in tense situations to receive the best...

Forex trading is a good way to make money, but it is not easy. To make money in the forex market, you must put in a lot of effort, patience, and dedication. The foreign exchange market is difficult, risky, and lucrative all at the same time. Do not take things with such a relaxed attitude.

Discipline is the core of all successful trading strategies. The risks of active trading can harm you if you lack discipline. Fear, greed, and squandered opportunities are just a few of the dangers involved. You will not be able to achieve your trading goals unless you first accept...

Losses are disheartening and it’s best to take a break from trading if you can’t handle your losses. Come back only when you feel motivated and can handle losses.

As an active trader, I’ve always preferred to use low spreads and commissions brokers. Currently using Coinexx. They have a pro ecn account with $2/ lot as commission. The spreads are also quite low.

Expectations don’t pave a way to money. You have to think above your greed and fears to be able to make the most of the forex market. Don’t depend too much on your instinct and make moves that you understand.

A demo account is surely a blessing for you where you can practice your trades with virtual money. As there won’t be any risk of losing your money, you will be able to learn more freely.

Just because you are trading forex as a part-timer, it doesn’t mean that it will become easier or any less risky. You will have to work equally hard and come up with a trading plan that will help you take advantage of the market movements.

As a short term trader, I am not very concerned about why a certain price movement is happening. What I care about is that a certain price movement is taking place and I should be capable of taking advantage.

We are all here for money. Some of us make it and some of us just lose it. I don’t think it should be a matter of your small gains or bigger profits. All that matters is that you are making a gain because most other traders don’t. Just work on your money management skills and it will be all good.

Trading based on assumptions is one of the biggest mistakes that a trader can make. Trading should be done on the basis of understanding, knowledge, skills, and expertise; if one tries to trade on the basis of assumptions, one has to lose, as assumptions give rise to chaos and confusion and...