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Speculation is not college studies which is completed within a prescribed period. Trading is more of a psychological battle. Only those who are dedicated, show willingness to learn, stick to a tested strategy and remain patient can excel. These are traits which can never be standardized. Some...

The quantum of investment has very little impact on the result of forex trading in particular. This is because of the liberal leverage that is allowed by brokers. A smart trader with a good strategy can multiply his investment several fold within short span of time. Thus, capital employed or...

I believe that careless use of leverage is more responsible for loss than insufficient capital. Forex brokers allow leverage of up to 1:3000. Thus, even a trader with a meagre $10 in his account can still trade efficiently by using the leverage wisely. With a 1:2000 leverage and a 0.01 lot size...

There is no easy way to control emotion. It takes a lot of time to train our mind for the same. Emotional response can be controlled in an effective manner through proper risk management techniques. This includes selection of lot size, leverage and use of stop loss facility. This reduces capital...

I would say that extensive use of leverage as the root cause of loss for most of the traders. Even though most of the traders are reasonably good in picking up an opportunity, the entry may not be perfect due to lack of experience.Thus, high use of leverage results in margin call and subsequent...

Invariably all the trading softwares are menu driven i.e., we do not need any great deal of knowledge to use the same. It just takes few hours to get accustomed to the various icons in the trading software. There is always a help menu to clear doubts. Just google with apt word and you will find...

There is only a thin line that divides confidence and overconfidence. Confidence is a must have character to succeed in forex trading. Without confidence, a trader will not be able to grasp the opportunity that pops up. However, as a trader starts succeeding, confidence rises beyond a threshold...

Risk management is achieved through two ways by a trader. The first way is the effective use of stop loss strategy. This enables a trader to cut off losses at the right time. Preventing capital erosion should be the primary motive of a trader always. The second way is using reasonable order...

Parameter optimization is the only way to improve the performance of a robot. Once in a while, a detailed back test needs to be done and parameter should be optimized. It would enable the robot to trade effectively. However, curve fitting or trying to achieve extraordinary profit factor will...

Hedging is not an easy task. Only very few traders can do it successfully. In fact, most traders lose on both sides when they try to hedge their position. It is always better to trade with a stop loss price in place. That way we can be rest assured of the maximum loss we would incur in case the...

Life is not all about trading. Is it not? We should allocate time for refreshment and relaxation as well. I would not spend my seed capital to party. However, after investing a reasonable amount in trading, I will certainly not be willing to add more. I would spend the surplus amount from then...

Placing a stop loss order is an unavoidable component of successful trading. However, most beginners find it very difficult to determine the exact stop loss price. In majority of cases, a spike triggers the stop loss order without a real change in the direction of price movement. To avoid this...

Speculative activities, as long as it is done wisely, enables an investor/trader to beat inflation. This allows the person to rise above others in terms of annual income. However, in most cases, individuals take up speculation without acquiring enough knowledge. This leads to substantial...

There is no educational criteria to become successful in forex trading. In fact, even successful engineers and doctors fail in trading. As long as a person is smart enough to make quick and wise decisions, forex can be a lucrative career. Other than that, all that is required is a willingness to...

No trader can trade without booking even a single loss. It is simply impossible. No strategy is 100% perfect. This is because of the dynamic characteristic of forex market, which is always evolving. All that can be done is an attempt to achieve high success percentage. In fact, most of the time...

Both courage and fear are necessary to succeed in forex trading. Only a courageous trader will be able to grasp opportunities without delays. Similarly, it is only the fear that forces a trader to book profit at the right moment. Having said that, I also wish to add that too much of courage...

Job satisfaction is a mental state. As long as our heart and soul is involved in a profession, we will not find it tiresome. In fact that is the reason why children can play even under hot sun where as elders cannot. As long as we enjoy a profession, we will have satisfaction. The minute we lose...

The decision to use PAMM or not should be based on our long term goal. In case making money is our only objective then PAMM can certainly go a long way in realizing our dream. However, an individual who wish to make trading as a career should avoid using PAMM. It will never enable a person to...

Top four brokers based on my personal experience is as follows: Exness -- Mainly due to instant automatic withdrawal. It gives a lot of hope as a trader who makes regular withdrawals. Ducascopy -- A top level broker with very narrow spreads. Verification process is little bit frustrating. Nordfx...

If a scalper does 20 trades per day then it is considered to be too low. Usually, a scalper does even up to 100 trades a day. With 60% success rate and3-5 pips profit per trade, a professionally successful scalper makes around 50-60 pips on an average. On the other hand, if a non-scalper does...