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Patience is very important in forex trading. If you are patient and composed then not only can you tackle the intricate situation with ease but also can turn odds into favours. Forex trading tests your patience often and if you are able to do so, you can get good results.

Following the fundamentals is very necessary in forex trading. Your fundamentals give you a strong base to deal with even complex problems. But often people forget their basics and become desperate to earn profits. Sometimes it may bring short term gains but in the long run it is very difficult...

The most important lesson as a forex trader was that successful trading doesn’t only have to do with how much money you have made so far. But it’s also about how much money you have been able to save. This is why I never risk more than 1-2% per trade. This helps me increase the number of trades...

Yes, it’s risky and difficult. It will take time for you to make money through it, not like what you thought when you saw that lucrative broker advertisement. Also, just because you made a few consistent profits doesn’t mean that you will keep making profits. For a successful forex trading...

Generally, forex currency values are determined by market supply and demand of the currency pairs. In addition to this, economic releases by governments or organisations and statements by influential people are active determinants of the market currency values.

If the broker keeps their part of the promise, i.e., provides transparent pricing, fast trade execution, withdrawals, and solid trading conditions, then there are no issues sticking with the same broker for years. I've been trading with Turnkey Forex for so many years and I’d continue to do so...

Yea! Money management is the best way of reducing stress. A trader can also prefer using calculations and technical analysis for making rational trading decisions. Thus also helps in reducing the stress while trading.

How can you swim, without learning to actually swim? To successfully trade forex, traders should learn and understand the market, gain appropriate trading skills and develop trading psychology.

Greed is the biggest enemy of the trader. Greed leads traders to become impatient. This does not allow traders to wait and seek for the right trading opportunity. Greed also leads to overtrading.

I prefer trading GBP/JPY. It is one of the major currency pairs. I like this pair as, if the Pound becomes stable, interest rates tend to increase and enables me to carry trade on the pound. And the Japanese Yen acts as a funding currency for these carry trades.

There are different types of forex charts which are used to represent price movement data on the forex chart. Candlestick chart is a type, which uses candle sticks like formation to show the price movement in a certain period of time. So, a candle is a rectangular bar with or without wicks on...

Learning from the mistakes you make while trading or practising is the best way to learn forex trading. The books and online courses are helpful but learning while putting that knowledge into use is more effective than only reading. Practical knowledge should be prioritised because experience...

It takes years for people to understand the functioning of the market and with time, they also develop the psychology required to trade forex. When you have real market situations in mind, you don’t take unnecessary steps.

If a broker has been in operation for a long time and has good reviews I don’t mind giving them a try. Even right now I have an account with TurnkeyForex and the experience is satisfactory.

A demo account has to be every trader’s first step after getting the forex basics because you are yet to see the market practically and test your knowledge and market features.

Trading is not just about making money. But it’s also about finding out how much money you must put at risk every time you are trading. Your goal should not just be securing your future but also keeping your present safe.

When it comes to forex trading, most of us relate being impatient to a trader who can’t wait to make profits and ends up overtrading. But if we see that from some other perspective, an impatient trader can be someone who is too curious to find out everything and anything about forex trading and...

That’s not something you should be asking others. Your decision should depend on your introspection. Usually, traders demo trade until they are sure that they have the required skills to risk their money and manage losses.

If you know the market, you know what can be done easily and what every trader’s dream is. If someone tries to sell you your dreams, they are trying to scam you. Stay away from such deals.

Keep your investments low until you are sure that you can handle the losses properly. Make use of your demo account to test your trading strategies before you use them in the live market.