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The term “revenge trading” is quite immature. Every trader needs to understand the fact that you can’t challenge the market and you can’t take revenge from the market. The only mantra to gain consistent profit is moving with the market and creating a strategy that fits with market movement.

Yes, it’s a fact that years don't count, but how many profitable trades you have taken in those years matters. There are traders who are trying hard to attain that consistency in trading but failing, whereas, on the contrary, some new traders are highly knowledgeable and successful in...

It depends on what sort of trading style you follow, how many funds you have to trade? What is the market condition right now? I would personally prefer to analyse all these factors and then decide.

Trading is not gambling. The market for traders is purely based on indicators, political and economic factors and patterns. So, assumptions can make you face extreme losses. Instead, first learn about it, plan a strategy, test it, and then start trading.

These 2 things are essential for success in all the markets.

New Traders try to jump headfirst into trading without actually getting proper knowledge. They learn the basic terminology and think that they have mastered the basics of forex trading. There is a lot to learn in forex trading and if you are ready to put your feet in the market, it’s better to...

I agree, coinexx has been a good choice for me in terms of spreads.

I prefer a long term trade because most of the time there are not as many opportunities in scalping as we think. Secondly I can’t take the burden of quickly analyzing a number of trades and wishing that i had 10 wins. Thirdly, I’ve to pay spreads and commissions on each trade even if I lose the...

For any sort of learning and starting a new journey, you need a mentor. Similarly, you need one for learning and understanding Forex trading. But if you can’t find one, then be your own mentor. Start learning about the forex market, currency rates, fluctuations, indicators, patterns through...

I agree with @Randiall, that experience will enhance your forex trading, but before getting into it, you need to learn about it. The graphs, patterns, techniques, and the right tools help in making a trading strategy that will help you in the process of trading. Start with a demo account to get...

Forex gives a lot of opportunities. If you have a good strategy and know-how to trade, Forex can be very profitable. It is not limited by time or space, so there is no worry of limited hours or access.

Meditation is a very important part of forex trading. Meditation calms the mind and body, which can help you make better decisions in the forex markets and stay in the game longer.

Trading is entirely skill based and practical. You can’t go anywhere with your knowledge alone, instead you need to put your skills to practice in order to succeed. But I agree with the title of the thread. Knowledge and experience complement each other. If practice helps you build the...

Nobody likes to see money flying out of their pockets. Sadly, this is part of the process, and as a trader, you will have good and bad trades. Whether you win or lose a trade, if you learn something out of it, then it will always be a profitable trade.

There are professionals who work in forex trading firms. Some even trade for others part-time. This can be a good way of learning trading because they can quickly fill the learning gap.

Absolutely, if the order execution is fast and spreads are low, I’m ok with any broker, and the best way to check the trading conditions are through a micro account. Did the same with coinexx, started initially with $50 before moving to a bigger account.

Forex has both risks and rewards. If you want profits, then you also need to lose some money. Honestly, everything is at risk when it comes to money, not even banks. Forex gives people an opportunity at a price. As long as you know how to strategize and plan, you can gain significant profits.

Demo trading prepares new traders to avoid losses when they trade with their money. While demo trading, a trader should try to make consistent profits. Consistency brings confidence. Because there are emotions involved while trading, new traders should consider them in demo trading too. A...

1) Trading is not a shortcut to make a fortune. It’s like any other profession, and it requires years of consistent efforts to make profits. 2) Forex is an unstable market. If you lose money one day, you might make money the other day. Don’t get too excited or sad. Losing money is part of the...

Demo accounts provide traders with a replica of a real trading platform, having the same features. It's an excellent way to test and apply trading strategies because traders do not lose any money. They are free; therefore, there is no harm in using one. Indeed, they make you a better trader.