Search results

Beginners should prefer brokers that have low initial deposits so that they do not risk more in their initial trading career. Starting with low initial deposits allow traders to develop the right trading psychology without risking much.

Absolutely, moreover it is not that difficult to find a regulated broker these days. Lots of options here too https://digitalcashpalace.com/forum/threads/cysec-regulated-forex-brokers.68832/. Some of the brokers have a low trading cost as well.

A broker that offers tight spreads, high leverage, fast trade execution speed and seamless withdrawals is good to trade with. Rest depends upon the traders as some may have their specific requirements, but they would also agree on seeing the aforementioned features in their brokers.

It would be best if a trader decides that on his own. You can execute a few trades and check whether you understand it or not. Also, check if it is something that you can do for the long term.

Nope, it is absolutely not possible to earn without knowledge. It's like trying to pin the tail on the donkey. Can you do it? Yes. Will you be successful most of the time? Absolutely not. Do your research and learn what works for you instead of blindly gambling.

I'm not against risk in any way shape or form, but there's a limit to how big of one you take! I never take more than a 2% risk personally.

You can also become a professional trader. You just need to focus on learning and understanding the market so that you can also make profits like professional traders.

I am not denying that demo accounts are important but I won’t even suggest depending too much on your demo results. They are mere simulators and the live market looks different. So, you better use a small amount when you start to trade in the live market.

I also believe in this golden rule. After some years in the market, one thing is clear in my mind: you will have to keep trading and losing to earn profits. If you don’t take risks over and over again, you won’t have a long trading career. And it’s obvious that for a long trading career, you...

Honestly, I can’t think of any aspect of the forex market that is not challenging. Be it using a trading strategy, leverage, broker, or a trading tool, there is always some kind of risk involved in using them. Since you can’t move ahead without them, you will have to take challenges to find what...

There is nothing like the right time to trade. Trade whenever you have time and money. It’s just that you would have to build a trading schedule and if you can follow it daily, you can have a better trading career.

I would prefer the online source of learning because there are so many options to choose from. You have e-books, articles, videos, podcasts, and webinars to learn from. There are also forums like these where you can ask your queries from experienced traders.

Tell me about a job that isn’t stressful. I don’t think there is any job that would pay if you don’t do the hard work. So, instead of blaming forex trading for being tough, focus on learning, and improving your ways so that you can make some good money.

For many, it is risky because they are putting their money into something and have no idea whether they will get it back or not. Though you cannot move ahead without taking risks, it’s best to try to find ways that can help you reduce risks like avoiding high leverage, risking small amounts, and...

I believe that traders should not do anything that their instincts don’t allow them to do. If you are new to forex trading and feel scared of losing, then you probably need to spend some more time practising and understanding the market.

It would be hard for an impatient trader to stay for long in the market. An impatient trader doesn’t trust the market and thinks that if he leaves his money in the market for long, it will be gone. So, it’s better for such a trader to either learn patience or not trade at all because no trading...

There is no fixed time that is specified anywhere to determine ample amount of experience in trading forex. You can use a demo account until you start feeling confident to go live with your hard earned money and feel informed enough to understand the technical and fundamental analytics of the...

It is important to take measures to avoid losses while trading forex, such as: Starting small on a live account Educating yourself Having a set trading plan Not switching strategies frequently Setting a risk reward ratio Exercising stop loss