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There are lot of common mistakes every trader do when they are new. I also did the same. Like opening trade position before big news events and after the news events. Opening too many lots is another mistakes. Risking more than 1% of the capital is also a mistake. Another big mistake is...

There are many advantages in trading forex. With merely internet connection and PC you can do the trading from your bed. From the Monday morning opening in Australia to the night close in New York, the forex market never rests. In forex trading, a little deposit you can start trading. Leverage...

In trading, only those should not give up who has the willingness to learn and dedication for learning. Other than than anyone can give. Because there is no point to lose money by sticking to it.

Discipline is the first you should practice if you want to be a successful trader. All the successful traders on the planet are disciplined traders. They may have distinctive trading techniques however one thing is normal which is they are restrained. Taking in the market and being control is...

Trading requires specific knowledge and skills. And you do not get skilled overnight. Trading is not a easy task to do. It is one of the difficult task in the world. That's the reason 95% fails to make an impression. Everyone has his own understanding. If you think you have the potential to do...

Forex trading is a challenge. You will face many obstacles during trading. Making consistent profit is a big challenge. First you have to give time to learn the market. Forex will be a nightmare for you if you try it without knowledge and skills. Another challenge is broker. You need a good...

If we talk about technical aspects, every pair has its own reasons to move. Sometimes same strategy works on different pairs but not all the time. But we try to use the same strategy all the time. That's a mistake.

Some of my tips for new traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.

While trading on demo, do study. Learn the technical analysis and trading psychology. Also good trading habit is important. In demo account, practice good habits. Remember without being skilled, it's not possible to make money here.

I have a theory for initial capital in demo. How much capital we should take for demo? My suggestion is take the exact amount of money you would invest in your real account. If you wish to 200$ in real account, practice with 200$ in demo with your strategy.

Most new traders think he is going to be rich within few months. He got the easiest way to make money quickly. The problem is they have been introduced forex like that. Most newbie traders do not know the ugly truth of forex trading. Forex is not an easy job to do. You need specific knowledge...

Some traders do not use stop loss. It doesn't mean all pro traders do not use stop loss. In the book The Millionaire Traders, you will find traders who became millionaire by trading use stop loss. It is all about your knowledge and how efficiently you use your knowledge. Yes one quality is...

The main reason of failure is unwillingness to learning and study. Forex trading is for skilled people. You can't make profit just by following some ready-made strategies available on internet. Beforehand investing your money into market, invest your time for learning. After learning learn to...

Stop loss is a killer if you do not use it properly. You should risk reward ratio of your strategy. In ranging market it seems price comes back again. But if the market trend for long and if you against the trend you will eventually get the margin call.

Where there is money, you will find people selling lucrative things. They try to make money out of people's emotions. To survive here you have to be smart. People get fooled by them. The reason is people always try to find the short cut. They are so involved in their thought that they can't see...

Different traders use different indicators and systems. From by experience I can say that looking into what others are doing only creates confusion. If you want to be a good trader, learn how a indicator works, how to modify it. You have to find out your strength. It is all about what you...

Every trader committed errors in trading. Most common error is they take impulsive decision to open a trade. They don't follow any rules. They don't have any risk management policy. The main problem is they don't study about market and trading. They try to copy some strategy.

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.

Knowledge comes first. Experience comes from knowledge. Experience is not trading for many years. You will find many traders who are trading for many years yet unsuccessful. The reason is all these years they focused on profit not skills development. If half of the time they spent on knowledge...

Small investment is not a problem when you are new. You need big investment when you are skilled enough. If you focus on making money from the beginning, it will take years to learn the trading. First one year treat yourself as an intern. Money you will use this time to experiment different...