Search results

I risk 2% percent of my capital. And I do not open more than 1 trade at a time. Once I closed a trade, then I think about opening a new trade.

First you have to give time for learning. It's a professional work that requires specific knowledge and skills. Once you have necessary skilled, you can do it just by spending one or two hours per day. But for learning you have to put your efforts and dedication. One more thing learning doesn't...

The first step of trading is to understand that it needs a lot of time and efforts to be skilled enough. There is no short cuts. If you can't give enough time and effort in learning just leave it. You have to go through the full learning process. Just by following some ready-made strategies...

There is a misperception that for success in forex you need big capital. But only big capital can't save you. Big capital is good when you are skilled enough. Otherwise No matter how big your capital is you would lose all the money. So in learning phase, low capital is the best option.

Learn before you invest your money in forex market. Forex trading requires specific knowledge and skills. You can not make money just by coming into the market. Another advice is choose your broker wisely.

Loss is inevitable in forex trading. And it gives pain no doubt. Actually no one learn how to accept loss. You have to learn how to overcome loss. Successful traders focus on their risk reward ratio and winning trade percentage. So you should have a well defined trading system that includes...

There is some misconception among new traders. They think within 3 to 6 months they can be enough skilled to make to money by trading. They are not willing to give time in learning. They are in hurry. As a result they lose years after years. And what they learn? Nothing!

Yes lack of knowledge and skills and a trading mind set are the reason a trader lose money. People can waste time by running for strategy but not willing to give time study and research the market.

One should not do scalping unless he/she is skilled enough. They should have well control over their mind. Most of the time scalping leads to over trading and a bad habit.

Forex trading is getting popular day by day. You can make money by trading foreign currency. It can be a good source of income if you can learn the art of trading. To acquire the knowledge and skills you need to study a lot.

For trading discipline is a must. Without discipline surviving in the market is not possible. No matter how great strategy a person has. It won't help him for long.

Yes demo is very important for both newbie and experienced traders. Without testing your strategy in demo it's not wise to use it in live trading as you don't know how the strategy works.

There are many good indicators. It all about what you understand the most and what works for you. By following other's suggested indicator we may make some temporary money but for long term sustainable success we need to find the indicator or system that works for us.

Our total risk should not be above 2%. Now it could be 2% in a single position or all the open positions. Some traders take 2% risk per trade then open 5 trade which becomes 10% risk. We should not do this type of mistakes.

It takes time to be profitable. But the sad thing is most newbie thinks three to six months demo trading will do the tricks. And when they realize it's too late for some traders. Trading is a skilled based job. You can't do it without being skilled.

For success in anything you need to keep trying until you get success. On forex it is difficult to get success, you need to sit tight for it. No one can get accomplishment on forex soon after joining. A trader needs to be have patience.

To improve patience we need to be realistic. When it comes to forex trading, people become illogical. They want multiply 100$ in a day. Market moves all the time doesn't means all the pips are yours. Be realistic and treat it like a normal business.

Yes you are right. Most traders do not want to spend time in learning. They are more interested in making money than developing skills. But due to lack of skills, they lose money.

If anyone wants to make double or nothing, he should go to casino. That's the better place for doing this sort of things. Forex trading is not gambling.

To earn more from trading, one needs to keep learning. There is no end of learning. It's a continuous process. If anyone stops learning soon he will be kicked out from the market.