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Most forex traders on Instagram are scammers. Forex trading is hard, as over 95% of forex traders lose money. Plus, it is getting harder and harder to compete with machine learning algorithms and high-frequency trading firms, who get the vast majority of profits. Stay away from such fake gurus...

It feels nice if someone can help you understand something in an easy way quickly. A mentor does the same. But these days, many ‘mentors’ scam innocent people. It is definitely hard to find the right one, but not impossible. Playing safe here is the best bet.

The majority of traders lose money because of a lack of knowledge, patience, skills, discipline, consistency, poor emotional balance, poor risk management, falling prey to ‘getting rich overnight schemes’, etc.

Robots are an absolute wonder in the forex market. But unlike humans, they lack emotions. We can use our emotions effectively in trading if we know how to control them. Robots can sometimes predict wrong, and therefore, relying solely on robots is not a good idea.

It is dependent on your course of study. It takes a lot of time to study the Market Structure and its nature and reaction to different fundamental factors. Forex is a vast subject and traders need to spend quality time to learn the concepts.

The key to becoming a successful trader is knowledge and skills including good money management skills. It is also important to keep your trading strategy simple and not over-complicate it.

You need to know that a set of things come into light when you ask such a question. You may have found the best strategy but if you don’t know how to revise, then you might fail in future. Apply risk management strategies to the plan and minimise risk. Trade with patience and solemnity, wait for...

If you ask me, I used a deposit bonus when I opened my first account with Coinexx. That time I didn’t have a lot of capital to invest so it was quite helpful. Fortunately, I don’t have any bad experience with deposit bonuses.

The price moves all the time. Check the time frame in your location where the market is the most liquid and active, and select it to make your trades in. The hours are flexible so you can try and see which time frame works according to your plan.

Frequently changing their trading plans is a common mistake that forex traders often make. They need to have confidence in their analysis and trading plan and give them time to show results.

I know how it feels to blow your accounts. But that’s okay for a beginner. You would have surely noted what you shouldn’t do in your future trades. I suggest going through the school of pipsology once to clear your basics. The problem lies there.

Seems interesting! Can anyone who has implemented this strategy please update the thread whether it worked or not?

Glad that you want to help but please give more hints. I don’t think any of us are getting your secret.

Trading psychology is all about how you feel about forex trading and how well you can manage your emotions. You are bound to feel emotional while trading but controlling them is needed when you wish to become a successful forex trader.

Don’t take any shortcuts. Do only what you understand. Trading without a trading plan can be harmful to your trading career. Take time to learn and develop a market instinct because growth takes time.

It’s always a good idea to invest small amounts with a new broker initially and see how they are on a micro account because testing a broker on a demo account will not always give you a clear picture. You will never know about their withdrawal process, won’t face any slippage or requotes etc. I...

The best tip I can share is never underestimate your trading plan. You should give it some time to show results before you abandon it.

A trading strategy shows traders the right path to keep moving. It doesn’t matter which strategy other traders are using. What matters is whether your strategy is in accordance with your requirements or not.

Forex Telegram channels are good as long as they give free signals. I had some bad experiences with the paid ones. So if you want to join, be careful and do it at your own risk.

For new traders, it is better to have some understanding of the market first, before using EAs. They are excellent tools, but they are limited in their functioning. Also, they are not profitable in the longer run because they can’t analyse the market the way a good trader can.