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Risk management in forex trading is to devise a strategy which works by minimising or eliminating risks of potential high losses that a forex trader encounters. Due to the constant fluctuations and volatility of the market, risk is a given in every trading decision you make. While being...

Trade in a demo account for 6–8 months. Even though it is not psychologically the same as trading in the real account, it is definitely compulsory to do enough trading in a demo account, to get comfortable with trading, your trading platform, market analysis and many other things. A demo account...

To be a successful trader, you need to have a trading plan and stick to it. However, you may still develop bad habits that can lead to losses. Therefore, discipline is essential in forex.

We require discipline in every area of our lives, and forex is no exception. ‘Making a plan and sticking to it’ won’t come when one is not consistent. And without consistency, one cannot achieve discipline. And without discipline one fails.

Extreme greed and ridiculous scramble may push you to lose all your money in forex trading. It's risky, so keep your steps carefully.

It's heeded like a joke that a trading forum can be summoned unique. Forex trading always provides me with a glance of risks and losses rushing toward me. However, it's my fault as I have a lack of confidence and knowledge. Apart from this aspect, forex trading is unique as it offers you to work...

The more you trade and study the market, concepts and working of the market becomes more clear and simple. And with consistency and time a trader is able to master his trading skills and trade profitably.

@Xylophone Very true! Market is the same for both part time traders and full time traders. Both need to have proper trading skills and knowledge.

Turnkeyforex and Eaglefx are two of my favourites. No other broker I’ve found yet that offers lower spreads than these two, especially during volatile hours. The withdrawals are also smooth.

In simplest terms, scalping is a short-term strategy that is focused on generating profits through small price movements. This strategy is incorporated with the aim of accumulating small profits through trading for a short span of time. Also, when the market fails to move in favour of the...

Indeed. Forex trading is not an easy road to riches but with the right amount of dedication, hard work and consistency, it can definitely be turned into a profitable profession. All you need to do is put in efforts in acquiring knowledge about fundamental and technical concepts along with...

Forex trading can be tedious at times. Often, it gets difficult to motivate yourself to continue working towards building a successful career. A few techniques that help me motivate myself during my breakdown are: Maintaining a trading journal to keep a check on my progress Celebrating small...

Greed is quite a difficult emotion to battle. It holds the potential of single-handedly taking down the trader and his career if left unchecked. Here are a few techniques that should be followed in order to avoid losses: Follow a strict trading plan outlined by your long term goals Focus on...

In forex trading, leverage is one of the most important and useful financial instruments. It allows the traders to borrow capital for gaining exposure. For magnifying profits, it is important for the traders to strategize, minimise and effectively manage risks associated with leverage to avoid...

There is no doubt that market timing is crucial, however, the ability to be able to spot an opportunity and execute a successful trading decision is also something that is equally important for magnifying profits.

In this highly volatile forex market, choosing the right currency pair to trade is very important. My favourite currency pair to trade is EUR/USD as it is the most traded pair and offers increased liquidity. Also, a combination of the world’s two largest economies, it is quite stable.

With countless sources available online nowadays, it is extremely easy to educate and gather information about the forex market. You can check out both extensive and intensive courses on platforms like Udemy and Coursera. Also, podcasts, articles, youtube videos and forex forums are good...

Originated by Japanese rice merchants, candlestick charts in forex trading are graphical representations that display the high, low, open and closing prices of an asset for a certain period of time. In all there are 16 types of candlestick charts.

Low spread brokers with minimal slippage are hard to find, settled with turnkey forex after trying out so many, seem good so far.

The biggest mistake traders commit while trading to generate quick profits is to over trade. This leads to vast losses. In order to avoid this situation, it is very important to have a risk reward ratio and practise stop loss while trading.