Search results

I love trading and I am passionate about it but I am trading full time. I am still learning. Once I start making sufficient profits I will definitely switch to full-time trading.

To properly understand risk management you need practical knowledge along with theoretical knowledge. Practise risk in a demo account with your strategy. Make use of stop loss and take profit orders. Maintain your risk-reward ratio and risk only the amount you can afford to lose. Have a strong...

Top 3 tips for forex traders- Never stop learning Practice makes perfect Learn from mistakes.

I am using turnkeyforex and never had any trust issues. They offer what they show. For review sites, you can check forex peace army and myfxbook.

In order to stay on track and achieve your trading goals, a trading strategy can be extremely beneficial. As a trader, having a plan in place can help you stay disciplined. Improve your strategy, manage your emotions and trade more frequently with a sound mind.

My favourite pairs to trade in the forex market are EUR/USD and GBP/USD as they are highly liquid and are associated with countries having a strong economy. This ensures tighter spreads, less volatility and better trading opportunities.

Learning forex can seem to be a little overwhelming in the beginning. Nonetheless, nowadays there are countless sources available across various platforms. You can check out podcasts, youtube videos and articles on websites like investopedia and babypips to educate yourself.

Agreed. However, in addition to this, it is extremely important to familiarise yourself with money and risk management techniques and learn how to control emotions for minimising losses.

With countless sources available online, spending money on a trading school is not a wise choice. You can check out several podcasts, youtube videos, forex forums and blogs for gathering information about the forex market.

Being a professional trader completely depends on factors like expertise, attitude, mindset and experience. You need to be well-versed with the trading strategies and the fundamental and technical concepts of the market to qualify as a professional trader.

Even though the internet is full of sources related to the forex, it is still advised to opt for something that is reliable and authentic. You can check out a number of books as well as courses on websites like Coursera and Udemy if you are planning to educate yourself about the forex market.

Honestly, there is no fixed number of trades that should be considered ‘good’ enough as I am a firm believer in choosing quality over quantity and as an experienced trader, I will always advise you to make trading decisions that are well analysed and backed by strategies and a set trading plan...

A well-built trading strategy is very important for success in the market because a strategy helps a trader to spot potential trades and enter/exit the market at the right timings to earn profits.

There is no doubt that money management plays a pivotal role in forex trading. So, in order to minimise losses, it is very important for all traders to educate themselves about money management techniques like tracking expenses, analysing the trade and budgeting the position size to limit risk...

I am a swing trader and I have been employing both trend trading and Fibonacci retracements to generate profits as they are easy to comprehend and quite efficient.

Forex indicators are quite helpful in analysing the market data on the basis of historical data like currency price, volume and market performance. I frequently use moving averages and bollinger bands to predict future trend reversals and price movements.

It is always wise to choose liquid currency pairs while trading as they are predictable to a certain extent and offer stability, lower spreads and more opportunities over the illiquid pairs. Some of the heavily traded pairs are: USD/EUR, USD/GBP, USD/JPY etc.

To be honest, there is no fixed span of time. It completely varies across traders and their grasping powers as well as level of dedication and consistency they are willing to offer.

In my opinion, the biggest advantage that has made me choose automated trading over manual trading is deletion of all sorts of emotional influence while making trading decisions which had been bothering me for a while now. Other than this, I feel both manual and automated trading are quite...

The major key forex strategy that has aided me ace my forex game is range trading. It works on consolidating markets across several timeframes and styles (used to define a market price that remains within the line of support and resistance). Popular among scalpers, it focuses on generating...