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While I agree with the fact that low risk earns low profit, it should also be remembered that high risk also leads to margin call and dilution of positions. It is better for a trader to concentrate on consistent profit with low draw down. Only such a strategy will grow the account in a...

Forex is probably the only profession where entry cost is negligible. A trader with a good strategy can begin trading with $10 and grow the account in a considerable manner. No other profession has such low entry barriers. In fact, there are brokers who offer no deposit bonus which can be used...

There are softwares available to record and analyze our trading in an electronic form. Gone are those days when a trading journal is prepared manually. These softwares download our trading data along with charts and does all the analysis in a detailed manner and present the same for a trader to...

As you have opined, success in forex trading depends on turning the odds in traders favor. A trend line is very much suitable for the same. As long as a trader executes order in the direction of the trend, the market forces support the trade. This ultimately presents better chances of winning a...

I wish to disagree with your opinion, a little bit. When there is dedication, any profession will turn into a mine of gold. It would automatically create a never ending source of money. The moment commitment, discipline of mind and patience is lost, the profession will create bad memories in a...

One month long trade can be opened provided the trader has enough capital to manage wide stop loss and take profit price. It is a well understood fact that as much as the time frame increases so much wider the stop loss and take point price would be. Thus, a trader needs to have a large capital...

That which separates a beginner and an a professional is the ability to ride on profit while closing loss making trades quickly. It is easier said than done. Tremendous amount of patience, mind control and determination to practice that in reality. A beginner seldom closes a loss making trade...

The decision to take trading on a part or full time basis is solely dependent on our past performance and the surplus money we have. Before taking trading on a full time basis, a trader should have surplus capital to meet at least four months expenses. Apart from this, the trader should have at...

As per my opinion, the worst thing which most beginners do while trading in the forex market is that they wait for the loss while booking profit very quickly. This is the most common and frequent issue which most newbies have. Unless and otherwise firm measures are taken to control the same, it...

Most professionals wait for the news to enter the market. However, it should be noted that a technical analyst can reasonably predict the outcome of a news very clearly. This is because news is always factored in a price movement. The price of an asset is the sum of hopes, fear and greed of all...

As you have opined, trading strategy should always be an outcome of a trader's personal experience. It should never be copied. If so, in case of a loss there is no possibility to assess the reason for the same. Only when a trader develops by himself, an all inclusive system that clearly defines...

Meta trader version 4 is the most popular and easy to use trading platform. However, if you are looking to develop expert advisor using complex trading strategies then MT5 is very much preferable. However, hedging is not possible with MT5 platform. Also, writing EA is bit tougher even though it...

The ability to shift odds in our favor finally decides the outcome of trading. Using a trend line to trade is a simple yet powerful process of turning market forces in our favor. This will give us more success than any other form of contrary idea. The probability of winning increases by...

If you use multiple strategies then deciding a strategy to trade may become a time consuming process, is it not? Success will follow a trader only when the strategy is simple to understand and easy to follow. We can have multiple options in other businesses. However, I am not comfortable about...

It is enough to learn trading by downloading materials from the world wide web. Almost, all 'ifs' and 'buts' are taught with clarity, free of cost. All that is needed is dedication and willingness from a trader to learn. Ultimately, it is the practice and trading experience that makes a trader...

Success in any profession is a direct result of hard work, patience and commitment. As long as an individual has those virtues in him, success will soon follow. HYIP schemes are usually money chain scams. As you have opined, it cannot not be compared with forex trading where success follows...

In sports we can be aggressive. Forex is a mind game. How and why should there be an aggressive response to price movement. Aggressiveness, whether it is in the form of higher lot size or frequent entries, always results in margin call followed by dilution of positions. It is always better to...

A true assessment of our performance in the demo account needs to be done. Only then can a trader succeed in real account. Even though demo account uses only virtual money, a trader should trade as if real money is on the line. This would develop precision in entry and exit. Reducing loss is a...

At least fear will force a trader to close positions early or not use opportunities. There are some advantages in have a little bit of fear towards the market. However, greed is totally evil and has no advantages at all. It simply forces a trader to get caught in traps such as spikes. It is very...

As soon as we are able to generate consistent returns with relatively low draw down, a shift to real account can be done. Usually, a small capital of around $25 is more than enough to begin forex trading. As long as a trader is smart in making quick and effective decisions, trading can be very...