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A trader should exit a trade when there is an impending reversal. Most of the reversals can be identified through proper understanding of indicators. Under such a scenario, a trader should exit the trade. In fact, a properly structured trading strategy should define exit terms as well. It is...

The most important benefit of trading online is that we can choose our own work timings. No other profession offers this much flexibility. Also, the entry barriers are very low. With patience and proper strategy, making a living out of forex trading is not a difficult option. These are the two...

Apart from knowledge and experience, it is the willingness or determination to avoid past mistakes that play a vital role in deciding the future of a forex trader. A beginner should learn from the experience. He should understand that gains are possible only with a proper strategy coupled with...

A forex robot is simply a program that will determine the trading decisions by confining to the strategy we have developed. The greatest advantage of using an automated trading program is that it will avoid emotions all together. This will assist a lot to those traders who are emotionally...

Even though no body is barred officially from trading in the forex market, still, as per professionals forex trading is not suitable to those who are not determined to gain knowledge, develop a strategy and show patience. These are important factors that shape the career of a forex trader...

Forex forums contribute a lot in shaping up the career of a trader. Through fellow trading members, we can clear doubts, gain new trading ideas and learn the risk mitigation techniques. Also, we would never miss an opportunity to trade in the currency pair which is make a lot of move in recent...

We can quit job for forex only when we have money to take care of our expenses for at least three months. Also, we should have a successful trading track record for one year minimum. If we can meet these two criteria then forex trading can be taken on a full time basis. Till then it is better to...

The only way to identify the time to buy/sell currency is through technical and fundamental analysis. The basics of fundamental analysis is far more enough as a beginner. On the other hand, a real good knowledge of technical analysis is very much important as it enables a trader to pinpoint...

Forex trading is not a get rick quick game. It needs tremendous amount of dedication and determination to learn and excel. Traders should always concentrate on consistent profits, albeit small. This would only enable them to achieve a solid growth. Use of high leverage or high risk strategies...

Every trader has some amount of fear while trading in the market. Fear can be overcome by having a tested strategy and sticking to it while trading on a real account. Also, assessment of risk to reward ratio before entering into a trade and usage of stop loss facility reduces fear considerably...

Hard work and dedication is the best way to learn forex trading. There are no short cuts. It is one of the hard ways to make a lot of money. A trader should not only have a good strategy but also patience and mind control. Lacking any of these virtues would be detrimental to trading.

When my positions are deep in red, it means that I have not followed the simple rule of trading which is cut down losses while riding on profits. For this to happen, stop loss should always be used. When we hesitate to use stop loss the result will be a huge loss some day or the other. As a...

We lose more than we gain because of two reasons. The first major reason might be a loop hole in our strategy. A defective strategy will expose the trader to risk which will ultimately lead to a net loss. The second reason would be lack of patience and mind control. Due to this, a trader would...

High leverage in the forex market lures people towards it. Most people think that it is very easy to make large gains in a short period of time. On the other hand, investing or trading in a financial market is not that easy. As much there is opportunity so much there is risk as well. It is only...

There is a well known saying that trend is our friend. It holds good for forex market as well. A trader who follows trend will be able to succeed in the forex market sooner. Trading against the trend is very risky and will invariably result in a margin call. Also, when a trend is broken, a...

People join forex market for a variety of reasons. I joined mainly considering the flexibility in timing that a trader can have. There are several others who join for high leverage and correspondingly high profitability. Being the most liquid market, it continues to attract several people as...

It is always better to stick to one tested strategy. The strategy should clearly define entry, stop loss, target and exit price in case of a sudden reversal. If so, there is absolutely no need to have several strategies which would only add to confusion. Several strategies would assist only...

It is better to take a break when a trader suffers a series of losses. When he comes back, a detailed analysis should be done. In case the loss is due to sudden news then risk management techniques need to be fine tuned. If the loss is due to strategy, the trader should trade on a demo account...

Many traders have their own list of worst and best days to trade in the forex market. However, it is only a myth. The reality is that an adept trader will be able to make use of the opportunity when ever it presents itself. The ability to withstand volatility creates such opinion in the minds of...

The top eight currency pairs contribute to more than 70% of the trading volume. It is better for a beginner to concentrate on that. It is because there will be a lot of liquidity and tight spread which would enable the trader to enter and exit without any difficulties. Only medium and long term...