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Forex cannot be considered as a business because no product or service is sold or bought. It is merely a process of exchanging currencies. That is why it is called as a speculative activity. Having said that, I also wish to add that unmatched liquidity, low entry barriers, flexible work timings...

Too much of learning also will be of no help. After gaining minimum knowledge, it is always better to start trading on a demo account and then shift to a real micro account. This would enable a beginner to have a feel of the forex market. No amount of learning can match hands on experience. Both...

As a beginner it is nice to follow economic or political news. Monitoring price movements that emerge as an outcome of news is also fine. However, it is better to avoid trading during the news time, as a beginner. It would only add up to confusions. It needs a plenty of trading experience to...

Certainly online trading is the best possible choice. This is because, with online trading the entire price movement on a tick by tick basis can be monitored. In case of offline trading, we need to call up the broker's office and place order. The limit price may or may not be achieved. To...

Loss is an integral part of speculative activity. No trader can avoid loss totally. However, the ability to cut down losses segregates an amateur and a professional. In case I had a substantial loss, I would certainly stop trading and analyze the reason for the loss. If there is a loop hole in...

The only way to improve forex robot is through parameter optimization. Not all the EA's are transparent and allow its users to adjust parameters. Thus, it is always better to create our own EA. That would enable the trader to improve or tweak the robot as and when it is really necessary.

I wish to disagree with your opinion that a trader needs to have multiple strategies to succeed in trading. A well planned strategy would enable a trader to make consistent returns while protecting his capital from unexpected volatility. Having multiple strategies will only cause confusion. An...

I used to have an emotional attachment with USDCHF earlier on as it had never give me any loss. However, I am now matured enough as a trader to weigh the pros and cons before entering into a trade. So, the currency pair simply does not matter to me. As long as the scenario fits into my trading...

I do have only one bad trading experience so far. I took a position in USDCHF last December. The long position was taken near 0.9000 level. Having waited for nearly three weeks, I got frustrated and diluted my position with a small net loss. In less than two weeks the currency flared to 0.9400...

Patience is an indispensable virtue that a trader should possess to succeed in trading. Without patience even a good strategy will prove worthless. An impatient trader will close positions even when the price moves in his favor. Furthermore, such an impatient trader will also enter and exit...

Choosing a forex broker should be based on the trading strategy, specific requisites and aspirations. For a trader, quick withdrawal may be the prime criteria. To some other trader it may be spread or hedging facility. Depending on the trading style and specific requirements, a broker should be...

Monthly return depends on the ability of a trader. It has got nothing to do with forex market. A smart and flexible trader can continuously reap returns from the forex market. It is the dedication, mind control and patience that matters most in trading. As long as a trader is willing to attain...

Demo account was extremely beneficial for me to create a trading strategy. It took around two months to create a strategy, filter errors, optimize, forward test and finally take it to the real account . Even professionals always use a demo account. This enables them to try out new indicators and...

All traders began their career as a newbie. Nobody came into this world as an experienced forex trader. It is the ability to avoid past mistakes that turns an amateur into a professional. Not all have such inborn capabilities. However, it is the determination that enables a trader to attain that...

More than the amount of knowledge a trader need to possess, it is the application of the same that matters. Mere knowledge does not guarantee success in forex trading. Each and every trading experience should be taken in proper stride and the forex trader should learn from the same. It should be...

As a beginner, gaining knowledge is the most essential requirement. Once that is done, a trader should practice on a demo account. Each and every trading experience should be remembered. This would enable the trader to trade similar scenarios later on with relative ease. This would also enable...

I wish to differ totally from your point of view. A professional trader will never predict the market. He will understand and gauge the situation as it is and determine logically the direction of the price. There will be no emotional attachment to the anticipated trend. In case the price moves...

More than a lack of interest, it is the reluctance in using the knowledge that results in problems. Invariably all traders dedicate themselves at the beginning of their career. However, very few go to the extent of creating a proper strategy and sticking to it under any circumstances. Such a...

MQ4 language used for programming is quite simple and easy to learn. On the other hand, MQ5 is very much complex. The reason is it can be used to develop extremely complex strategies including genetic algorithm and artificial neural networks or even a combination of both. It is very much suited...

Becoming a forex expert is not an easy task. It not only requires in-depth knowledge but also years of hands on successful trading experience. Only then a trader can call himself an expert. Also, there is always something to learn from the market. This law suits even professionals with vast...