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A forex broker should be chosen based on the needs and aspirations of a trader. I, as a trader, always look out for the time taken by a broker to process withdrawal requests. As early it is so much better it would be. There are so many traders who look for low spreads or facilities like VPS...

News can be of two types i.e., either political or economic. A political news, unless a war like situation, will impact the price movement only for a very short span of time. A major economic news, on the other hand, shifts the primary trend of the currency pair. This may have long term...

All speculative activities involve some kind of risk and forex is no exception to the same. However, the risk is exaggerated because of extensive use of leverage. As long as a trader understands his limits and use reasonable leverage, the risk can be negated. All that is needed is patience and...

The best tip that a beginner can have is "always use stop loss and take profit facility". It is such a handy tool which would save a trader both in good and bad times. Even a winning trade can result in a loss, if the trader does not use a take profit facility. Likewise, stop loss is...

Majority of traders lose money. This happens not only in forex market but also in other financial markets such as bonds, stocks and commodities. In fact, that is squarely the reason for such a high profitability. Trading is simply the process of sticking to rules which a trader has framed...

Aggressive trading style may not work in the forex market or in any kind of financial market as such. A trader should wait for opportunities. Creating an opportunity merely to trade in the market will only result in a loss. Not all patterns can be traded successfully. Thus, only specific patters...

The easiest way to get best forex trading tips is through forex community forums. Most of those forums have a thread dedicated for established professionals to list out their trade ideas and beginners are free to copy them. This, I believe, is the best possible way to get quality trading tips...

The only way to avoid scams in forex trading profession is through well defined research. There are plenty of forums where you can learn from the experience of fellow trading members. A scam broker gets listed very quickly in these forums and a trader can easily avoid them. Also, offers that...

Of late, Bitcoin is seen as the future of investment. There are no prominent brokers who accept bitcoin as of now. However, things may change in the coming years. The issue it bitcoin itself is a rare commodity and has become the target of traders. Thus, it will be difficult for a forex broker...

Scalping is a high frequency trading technique done manually by a trader using extremely short time frames. A scalper usually uses 5M or 15M time frame and targets around 5pips per trade. A scalper may make as much as 100 pips per day if all goes well. The entry and exit should be very precise...

Investment diversification is always important and is not relevant only to forex but in case of all non-traditional investments. We should never employ all our funds in a single investment vehicle. It will ultimately turn out to be disastrous. It is always better to maintain a portfolio of...

Forex trading will always remain a complex profession. It can never be made easy. However, it can be simplified as long as trading is done in a systematic manner without deviating from the strategy. Determination, analyzing errors and fixing them, mind control and patience takes a prominent role...

There are so many success stories in the net as far as forex trading is concerned. However, none of them can be simulated by others. Each and every one should carve a way for themselves to succeed in the market. The habit of following someone will never make us a leader. We can take good money...

Earlier on, I used to get very much depressed when I lose. However, I have understood that profit and loss are very common in speculative profession and the one who keeps his head cool will ultimately rein. All that a trader needs to do is concentrate on the strategy and cut down losses, if any...

Technology has contributed so much for the growth and expansion of forex market. Without these low cost communication facilities it would have been almost impossible for forex brokers to penetrate all geographical barriers. Also, the growth of secure payment services and gloomy economic scenario...

Even though most brokers enable trading in commodities and inidices, forex market, in strict terms, mean only spot current market. It is OTC market with unmatched liquidity. It is better to avoid commodity and indices at the beginning of one's career in the forex market. This is because, there...

I do not have aversion towards any currency pair. However, I am bit edgy when it comes to NZDUSD pair. It is quite difficult to trade that pair due to a lot of zig zag movements. So, it is very much avoidable as a day trader. However, swing and medium term trading can be done with out any...

I would never deviate when I trade in the forex market. Once I enter a trade, I would constantly monitor the price movements. It would assist me as a beginner to understand minor supports and resistances quite easily. This allows me to avoid entering at extreme ends of price. Even though, it is...

It is always better to have enough money to take care of at least three months of our expenses. Additionally, a successful trading track record of 6 months is very much desired as well. Only when a trader can meet the above mentioned criteria, he can successfully make forex as a source of income.

Most traders have a definite plan. Unfortunately, majority of the traders do not stick to the same. It is because emotional response to a trading scenario is very difficult to avoid. Only those traders who have such a balanced state of mind can stick to their trading plan. The rest would make...