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As everyone would be aware of, forex is a OTC (over-the-counter) market with no centralized body governing the settlement process. Even though it has indirectly resulted in tremendous growth, still, the market is plagued with scams. Every year several brokers close shop or swindle hard earned...

To trade news successfully, we should know how the currency pairs are related to each other. Some pairs have direct correlation while some others have inverse correlation among them. Also, the amount of uptrend or down trend seen in the past few days may affect the price movement considerably as...

The first thing a beginner should do is avoiding trading when there is no real opportunity. This would eliminate most of the worthless hours spent on forex trading without any real profit. A clear strategy should be in place for entry, stop loss and take profit price. If the above criteria can...

PAMM account is safe as far as safety of money is concerned. The moment an investor wishes to withdraw he can do so without any obligations (as long as there is no lock in period). The profit, if any, can be withdrawn quickly as long as the broker is honest. However, performance can never be...

By employing a VPS (virtual private hosting server), EA's can be run else where without the need for us to keep the computer switched on for ever. On the other hand, it is very much advisable to monitor a forex EA continuously, at least in the initial stages. A weekly assessment of performance...

Forex trading is a speculative activity. It is neither a business nor a job. Speculators can be referred as finance professionals. It cannot be called as business because no product (tangible or intangible) is bought or sold. Only conversion of currency happens. It cannot be considered as a job...

To venture into forex trading, a trader need not invest huge amount of money. Thanks to the high leverage facility offered to the forex brokers. As long as a trader possess presence of mind and sticks to his strategy, making money from forex trading will not be difficult. Initial capital can be...

Physical tiredness, to a certain extent, is manageable when it comes to forex trading. However, mental tiredness is not. This is because, forex is more of a mind game. Only a trader with fresh mind can rein over the market. In case we experience a sorrowful event (personally or professionally)...

The most important reason for failure, as per my opinion, is the high leverage usage and lack of patience. High leverage puts the trader under stress which ultimately results in clouded thought. This results in wrong decisions which ultimately leads to substantial loss. Similarly, a lot of...

While I accept the fact that strategy should be purely based on situation, an untested strategy will put the trader in a much more difficult situation. It is always better to trade with well planned strategy that was tested in a demo account several times. That would enable a trader to...

I do understand your opinion that bigger capital would be very effective in trading. However, it is very much advisable to withdraw at least a portion of profit then and there. This can be set aside in our ecurrency account itself. This would boost our morale thereby encouraging us to achieve...

We can't make even a single penny if our family is against forex trading. This is because of additional emotional stress that is caused by the lack of moral support from our family. We will constantly strive to do something extraordinary to make remarkable gains to prove ourselves. At the end...

Making 100 pips from a positive or negative news is very much possible. However, once the trade moves in our favor, it is better to use a trailing stop loss. Needless to say that such a stop loss should be little far from the usual scenario. This is because volatility would be rather high before...

Success in forex trading depends on trading strategy, patience, mind control and dedication. While trading strategy can be fine tuned or created within weeks, the rest of the virtues can be attained only through determination. It may takes several months to become a disciplined trader. Only a...

The first thing a beginner should do is to gain a reasonable amount of knowledge relevant to forex trading. This includes the history of forex market and the need for the same as well. On a overall basis, a little idea about the functioning of financial markets would be very much helpful. This...

The most important tip in the list you have provided above is the one which cautions against purchasing system or indicator. This is because no system or indicator can be put to optimum use unless and otherwise the user has a thorough knowledge of the same. Even simple, common and popular...

In most cases, if you avoid swap, the spread would be a little bit higher. This compensates for the negative swap that is charged on your account for overnight positions. It is better not to look into those aspects and concentrate on trading. After all, success is imminent only when a trader...

It is very difficult to trade smaller time frames. This is because there will be lack of clarity as to which way the primary trend is. As a trader, we should always follow the primary trend. Usually higher time frames of the order of 4H, daily or weekly would show clearly which way the currency...

The largest loss I experienced so far is $125. I used very high leverage and succumbed to greed. My position was in green. I was waiting for some more profit. A quick reversal left my mind blank. Before I recouped myself, I had lost a considerable amount. I understood the importance of...

I will never consider forex as a sport. Speculation is a serious investment activity where our hard earned money is on the line. Playing around with it is not fun. Moreover, it is always better to play an outdoor game, as forex trading is purely a mind game. So, an outdoor game would provide...