Search results

Not only in forex but also in any other profession, a person with overconfidence will not succeed. Overconfidence clouds the thought process of an individual. Thus, intelligent decisions can never be taken. This ultimately creates a spill over of bad trades that affect the over all profit / loss...

Forex trading should be taken based on interest and not with money as the only motive. All individuals cannot become great speculators. The ability of individuals vary to a large extent. Thus, based on an individuals talent, trading should be taken. If it is forced on someone, there is no...

It is always better to have forex trading as a part time job during the initial stages of ones career. As forex trading can be done at any suitable time it can certainly be taken as a part time job. With unmatched liquidity and low entry barriers, all it takes to succeed is the ability to learn...

Trading psychology determines the outcome of a trade and shapes the career of a trader in the long run. This is because emotional response such as hope, fear and greed have so much impact on the decisions made by a trader. A mature trader will think twice and never make hasty decisions. This...

Without money management even the best of the strategy would yield poor results. Money management begins with determining the lot size or allocation of capital to a trade. This is followed by assessment of risk to reward ratio and usage of stop loss and take profit facility. Unless and otherwise...

A demo account is an indispensable tool for both a professional and a newbie. A newbie learns trading through a demo account. It enables a beginner to understand the trading platform and its facilities. Also, new indicators and its application can be easily understood by trying it out on a demo...

Stop loss would only cause a long term loss if the strategy is structured in such a way that one entry is related to the next and so one. When there is a chain link between entry and exits then inducting a stop loss facility will result in a loss. As long as long and short position entry logic...

The link below enables a trader to develop EA with practically no knowledge in programming. All he needs is a practically workable idea. I have been able to do that very easily. Also, we can try out so many strategies in a demo account as well. Once one of those strategies make consistent profit...

There are so many good strategies with which trading can be done in a successful manner. However, trading without risk is almost impossible. All speculative activities involve some amount of risk and it is only the risk mitigation technique that ultimately enables a trader to profit from the...

The only practical option available to reduce loss is the stop loss facility. Even though professionals suggest keeping the emotions away, it is practically not that easy for a beginner to follow. A lot of hands on trading experience and determination can only lead a trader to a professional...

At least some amount of knowledge is required to make profit in the forex market. Only with knowledge a trader can develop a successful strategy. As long as experience is concerned, it is a must for any trader. Without experience, it is almost impossible to earn in the forex market, irrespective...

The earnings from forex trading will be substantial to support a family and uplift financial status only when a trader has an impeccable track record of success. It takes several months to attain that level of proficiency. Till then, the income would not be bigger enough to support a family...

Forex trading is simply a business of probability. The success lies in turning the odd in our favor. A lot of practice in a demo account would certainly ensure that we have a successful strategy in place. Only then should we trade in a real account. I understand that very clearly on the first...

While I agree with most of the questions that need to be asked, I am not sure whether any broker would reply positively when we ask for their balance sheet. As such, unless and otherwise a company is listed i the stock exchange, there is no need for them to practice that level of transparency...

All five trading days are very much important from a beginners point of view. However, a beginner should not enter for a trade as a compulsion. Only when opportunity presents itself, a newbie should enter a trade after assessing the risk to reward ratio. Monitoring the market enables a trader to...

Even if we have adequate knowledge still there is no guarantee for success. Knowledge should be applied in a practical manner. That is where success lies. Most traders find it very easy to create a strategy. However, it needs a lot of patience, mind control and determination to replicate the...

To become a perfect trader, we need to gain in-depth knowledge in technical and fundamental analysis. This is followed by development of a strategy that can succeed the peak of volatility. Apart from these, a lot of patience, mind control and determination is required as well. If a trader can...

The best way to learn and earn from forex trading is by gaining knowledge and practicing on a demo account. However, I do not think that there is any way to learn investing in hyip. Most of these hyip investments are money chain scams. So, it can never succeed on a long run. When investors are...

Time frame should be selected purely based on trading style. A scalper should opt for extremely short time frames such as M5 or M15. On the other hand, an intraday trader should use 1H or 4H charts. A swing trader usually looks into 4H and daily charts. A long term trader on the other hand uses...

Without knowledge it is almost impossible to succeed in forex trading. Having said that, giving too much of time to learn theories will not help an aspiring trader in any manner. Trading coupled with experience on a demo account will only enable a trader to develop strategies that can stand the...