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I am not sure how far bitcoin would enable world economy to run smoothly. A currency should be introduced only when it serves some purpose or solves some issue. Bitcoin, even though a stable form of e-currency, is not a solution for any of the economic problems that is plaguing the world now...

Not all have surplus capital or deep pockets. It is the ability to trade within our means that matter. Professionals never allocate more than 1/3rd of total capital in a trade. This enables them to avoid margin calls and liquidation of positions. As the size of account grows a trader will be...

Bad habits like averaging down and holding on to a position based on hope etc., cannot be changed overnight. Only determination and constant practice would enable a trader to change bad habits. The entire mind set should be changed for that to happen. Most traders take several months of lean...

The assistance of account manager should be used mainly to solve account related issues and not for trading related queries. It is better always to make trading decisions on our own. It would enable a trader to analyze the reason for losses, if any. Only analysis would allow a trader to avoid...

Whether beginner or professional, demo trading is a must. It enables a trader not only gain experience but also try different strategies. Beyond this, understanding various indicators in a thorough manner is possible only with the use of demo account. After all, there is no risk of losing real...

I concentrate on price movement when I trade in the market. I prefer not to get distracted. I am fully aware of the fact that subtle nuances of price movement can be understood by watching carefully and it will enable a trader to identify precise stop loss and take profit price next time when a...

There are varied reasons for people to join forex trading. Even though making money is the primary objective of all the traders, there are certain additional advantages that lure people towards forex trading. They are work timing flexibility, minimum capital requirement and growth prospects. No...

Most beginners dwell themselves in trying various indicators. After some time, they lose interest and try to find out a better one. It must be noted that no indicator is perfect. All indicators send out errors. It is the ability to reduce error signals that enable a trader to remain successful...

There are numerous benefits in trading online. An online trader can choose his own work timing, need not depend on dealer to place order, need not lead a hurry burry life and still can attain financial freedom. There is no body to question us. However, we cannot blame anyone for our mistakes as...

It certainly makes sense in opening two accounts with the same broker. After we train adequately on a demo account, it is always better to open a micro account. This enables us to refine ourselves as a trader by having a control over emotions. Once we gain adequate experience, we can shift to a...

Usually companies charge as low as $100 per month to anywhere up to $700 per month for forex signal services. Those charging in the $200 range can be tried, if really necessary. Using forex signal services cloud our thought process. We will never be able to refine ourselves as a professional...

The only way to protect small amount in forex trading is through wise money management and risk mitigation techniques. Money management includes but not limited to selection of lot size, allocation of capital for a single trade and all trades put together. On the other hand, risk management...

Forex trading or trading in the spot market is far better than options trading. Options are very difficult because not only should a trader predict the direction of price movement but also the time period within which it would occur. Only then there is a possibility of success. Derivative...

Only very few traders are born with speculative skills. In fact, most of the professional traders are what they are now only because of hard work, commitment and discipline. As long as a beginner is willing to go to any extent to learn forex trading and implement the same in reality, success...

It is always beneficial to begin real account trading in a micro account. That would enable us to understand the real face of the market. We would also be able to assess how well we can control our emotions in the time of difficulty to exit from a trade with profit. As we gain experience, we can...

Not all expert advisors make money. In fact, most of the EAs lose money in the long run. This is because forex market is very much dynamic and no particular strategy will work for ever. The EA's need to be tweaked regularly. Unless and otherwise a trader has sufficient knowledge to do the same...

Out of all the economic data you have listed, GDP and unemployment data has the greatest impact on the price of a currency pair. In case of other data, the turbulence in the price of the currency would subside sooner or later. Also, it is better to wait for at least 10 minutes before taking a...

Learning or gaining knowledge about forex trading is quite easy. However, application of the same is the most difficult aspect. This is because, trading in the financial markets require a lot of mental discipline, commitment and patience. Not all traders possess those virtues. Those who are...

In any profession, there are scammers who are always ready to prey on the gullible and forex market is no exception. An investor and a trader should always remember the fact that an offer which looks too good should not be trusted. Before entering into any sort of transaction, a trader should...

Forex trading certainly will have deep impact on the personality traits of a trader. A trader with a confident mindset will be able to capitalize from the market. However, a trader with poor strategy and mind control will incur substantial loss. This will have an impact on his morale. Unless and...