Search results

I started trading with my own money. Then added some money from my pocket as I achieved success and gained experience. So, it is a mix of both in my case. To a beginner, I would always suggest to adopt the same way. It enables a beginner to make decisions with clarity of thought and avoid stress...

Before entering a trade, both stop loss and exit price needs to be perfectly calculated. Once the cut off points are decided, under no scenario, a trader should change the stop loss and exit price. A trader should be consistent with his trading strategy. Under no case a deviation should be...

With minor changes, the forex signals which we result we get in a demo account will be same as the real one. Not much rigging or manipulation can be done in zulu trade, at least as per my knowledge and experience. All we need to have is the knowledge to select proper trader to copy. Also, zulu...

Cyprus is very near to Europe mainland where as regulations are quite easy to follow. This lures a lot of forex companies to setup base in Cyprus. Also, getting through regulations is not an easy task in Europe and USA. There are so many stringent rules which forex brokers find very difficult to...

Most MT4 platforms provided by brokers display the real time price of gold. Only very few brokers do not provide such a facility. You can even trade through the platform. However, commodity trading, being seasonal, is very much riskier. You need to track even stock market as it has an inverse...

It is always better to use a trend indicator and a trend strength indicator together to make entry and exit decisions. Some professionals also use an oscillator in addition to the above. This would enable them to avoid entries at extreme levels. Usually, a moving average coupled with ADX and...

Milliondollarpips is one of the best robot that is performing well for the past few years. However, I am yet to see the same in reality by using it in my real account. Basically, all EA's need to be fine tuned on a regular basis. Without that, all robots would fail. This is because forex market...

I hardly buy any books to learn forex trading. Most of the best possible suggestions, which include development of trading strategy, usage of technical indicators and parameter optimization can be learnt free of cost from various web sites dedicated to forex trading. All that is needed is...

Intraday trading is the most difficult form of trading, next to scalping. Intraday trading requires high precision in entries and exits. Not all can achieve the same. Thus it is never suggested as a form of trading for beginners. It is always advisable to begin with swing trading, initially...

Leverage is a double edged sword. An adept trader would be able to make use of the leverage in the best possible manner and achieve excellent results. On the other hand, leverage misused will result in a substantial loss to a trader. It is always better for a trader to stick with 1:100 leverage...

Seasonal impact on prices is seldom seen on currencies. However, it is a usual phenomena in commodities. Thus, hurricane etc., will not cause much of a fluctuation in the price of currencies for a long period of time. It is always better to depend on economic data to validate the primary trend...

The process of using software programs to execute trades is called as automated trading. The programs, also called as an expert advisor, generates trades based on predefined variables and set parameters. As long as an equation gets satisfied, the program executes the respective order. Even...

Exotic currency pairs are those which are very less traded. Only those multinationals which earn money from those countries use forex market to convert the same into local currency. Thus, trading in exotic pairs would be very low. Also, the spreads would be wider. However, there are certain...

A trader should determine the nature of spread he requires based on the trading style. Fixed spread is suitable only for small traders who look for break outs. Floating spread is very much a requisite for scalpers. When there is no news, only traders using floating spreads are able to...

Scalping is very much suited for professionals. It is better for beginners to avoid scalping. Scalping involves trading extremely short time frames, usually of the order of 5min and 15min. A scalper normally looks for only 3-5 pips per trade. As a whole, a scalper targets more than 50 pips a...

If you are listing out the country with highest forex reserve then Japan and China tops the list. However, Chinese are forbidden to trade in the forex market. Full currency convertibility is not allowed, at least legally, in China. Japan keeps dollar reserves in the form of bonds purchased from...

Practicing in a demo account is certainly required but not enough for a beginner to become successful in forex trading. A professional trader always exhibit a balanced state of mind unlike an amateur who will make impulsive decisions. It is not only strategy but also mind control, patience and...

Trend is our friend in forex market. Any trader who takes trend seriously will have more wins than losses. Even though there are so many ways to identify trend, the most common method is to draw a trend line which connects two successive peaks or troughs. Another better option is to use the...

All professions include scams and forex is no exception to the same. With such a high liquidity, it is almost impossible to rig the price. Even major banks have lost huge money trying to control the price movement in the forex market. As long as a trader follows a tested strategy without any...

Curve-fitting is usually done by developers of EA. It is better for beginners to avoid curve fitting. Even though it is intended to create maximum profit with low draw down, usually the reverse happens. This is because curve fitting requires stop loss to be placed far away, usually. This would...