Search results

If situation warrants there is no harm in having account with two brokers. There are traders who wish to try out new ideas in a real account. To mitigate risk a micro or cent account can be opened. On the other hand, tested ideas can be traded as usual using a main account with another broker...

It is not just a matter of volatility. Liquidity decides everything. A trader should have no difficulty in entering and exiting the market at will. As liquidity increases, the spread will decrease. This will draw more and more players into the counter. There will also be enough opportunities to...

As we gain experience in forex trading, it will be easy to sort out mistakes. What I wish to see is his track record. If he has improved considerably in the past 7 years then it is really appreciable. I have seen traders who find it difficult to change their habit and continue to repeat same...

Patience is the key wort to success in forex trading. As you have pointed out, a trader should stay calm and avoid gambling. However, such a professional approach is possible only when a trader gains maturity. It may not happen straight away. All successful traders have a story of utter failure...

It is always better to stay in front of our system after we enter into a trade. There are times when price may come very close to our target but do not achieve the same. It may take several hours, in such a scenario, for the the price to attain our target. If we are near to the system we can...

As per my opinion, knowledge does matter but more important is the ability to introspect and rectify one's mistakes. A trader who is not willing to refine himself will never make even an iota of profit in the long run. The mistakes will continue to get repeated thereby resulting in losses which...

China leads the world in forex deposits because of exports. China is described as the factory for the entire world. It is a highly export oriented economy. Thus, they have very high foreign exchange reserves. Invariably all major US companies have their manufacturing facility in China. This is...

Every trader has a fear of loosing money. It can be overcome only when the leverage used is reasonable. Contrary to the popular belief, high leverage will only cause additional stress thereby leading to loss of concentration and errors in decision making. As professionals suggest, a trader...

You have shown an example of making profit even with a 40% success rate. The issue however is that if the 60% losses happen continuously then it would result in erosion of most of the capital. A trader may not have enough money to place the same quantum of order. This is in addition to loss of...

As you have pointed out perfectly, a trader who opts for hedging should be able to identify the turning point very precisely. This would enable him to profit both from a downtrend and an uptrend. However, practically it is very difficult to do so. In most cases, a trader loses on both sides or...

LR and egold are not cryptocurrencies, which is algorithm based. Moreover, LR allowed easy money laundering as there was no verification process. In the case of bitcoin, each and every coin is linked to a block and can be easily traced to the origin. Moreover LR and e-gold were only wallets for...

The most important advantage which forex market offers its participant is the time flexibility. A trader can choose his own work timings. No other profession offers this flexibility. The other important advantage is the low capital requirement. It is the smartness and intelligence of a trader...

Anyone can trade in the market. However, it is the maturity to handle money that matters a lot in speculative activities. Thus, a person who is not 18yrs of age will never have enough maturity to consider trading seriously. There are more chances of considering it as gambling which will...

Trading after analysis would only enable an amateur turn into a professional. Trading by chance may succeed once or twice but not for ever. Since there are only two probabilities i.e., to win or lose, it may look nice to think that trading by chance will still result in 50% success. However, the...

As you have indicated, only individuals need and aspirations can decide the quantum of profit to be withdrawn. Generally speaking, 1/3rd of the profit is usually re-invested while the rest is withdrawn by most of the professional traders. This allows an account to grow into a considerable amount...

Flexibility matters most in forex trading. A trader should be ever ready to open or close position when an opportunity or trend reversal is seen. This quality differentiates a professional and an amateur. While it is a must to weigh the pros and cons before entering a trade, too much delay will...

The time to be spent trading in a demo account varies considerably between one trader and another. Not all are born with same level of smartness and intelligence. Also, the amount of knowledge and guidance a trader has matters the most. Some learn on their own while there are traders who are...

Invariably all human beings have some amount of greed and fear within themselves. To avoid bad habits, particularly greed, our mind should be trained to trade in a disciplined manner. Use of stop loss and take profit facilities are primarily intended for the same. As a trader gains experience...

Yes. Gaining knowledge is the best way to start ones career in forex trading. I cannot think of any other better and cheap alternative. It does not cost anything but gives you tremendous amount of knowledge which no other course can offer. Apart from basics of forex trading, it is always better...

We should always select a comfortable place to trade in the forex market. The place should allow us to think freely without any stress related to personal issues. Also, there should not be any unwanted diversion. I prefer to trade alone. Grouping with others will result in loss of...