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Traders who trade systematically and trade with a trading plan and proper trading psychology that are essential to become successful are profitable.

I'd say EUR/USD. I find this pair to be more profitable due to its liquidity and tight spreads. However, the best pair to trade depends on the individual trader's goals, risk tolerance, and trading style.

Babypips is one of the best websites that I recommend to beginners. The website has plenty of content that will help beginners understand trading concepts easily. YouTube is also an option, but can be somewhat confusing for beginners. Plus, most people on YouTube are there to sell courses and...

Because many individuals focus on minting profit and they don’t pay attention to the process and how knowledge suffices above all. Managing risk and budgeting capital should be priority until experience is gained and traders can reach their goal. Stay organised and follow a plan. Only those...

Hi there, hoping you and everyone here achieves what they started with. Good luck and try to be patient during shifts.

I don’t think anything can beat the learning experience and knowledge that we get after reading an insightful book written by a professional. There are many such good books available on the topic of forex trading and you will be able to learn a lot from them. Good luck!

I’d like to include turnkey forex and trader’s way to the list. Both have a low minimum deposit requirement of $10 and trading conditions are also good.

The strategy is simple but it won’t be right to refer to anything as holy grail when it comes to forex trading. But thanks for sharing and hope you are doing well since it’s been a while since you posted. It will be good if OP can share an update on the strategy.

It’s obviously possible to make money in the forex market. This is why there are so many traders around you. I know it’s a little difficult to achieve your financial goals in the market. But if you really want to do something well, you will have to keep patience and work hard.

For traders to become successful in their forex careers, it’s really important to control their emotions, especially greed and fear. These keep you from seeing the market as it is and don’t even let you trade properly. You must make sure that you follow your trading plan from the beginning to...

I agree! But the traders need to start with small accounts after practicing on the demo so as to develop the right trading psychology.

You must educate yourself on the market and currencies before you can become a good trader. Before entering the vast ocean of currencies, be sure you are familiar with the basics of currency trading.

I typically use EMA and MACD indicators to scalp EUR/USD.

@ Zygosis These are really good points you brought up. I would like to add a few more to this. First, developing an effective plan of action, sticking to this plan throughout the entire trade, And, second, good trading psychology.

The steps I followed while selecting a forex broker: Identified my requirements. Compared different brokers and selected the ones that fit in the criteria I’d set. Checked their reviews on trusted sites. Tested the platform through demo accounts. There were 2-3 brokers that I was left with in...

These fake gurus know how to throw a bunch of emotional and flowery words and they show their luxurious lifestyle to trap those who want to learn forex. They will tell those people how to become successful in a short amount of time and whatnot. They will make them feel like their courses are a...

Well, that would be fortunate for me to see how many people actually follow all of these. If they were to follow these tips along with maintaining a trading journal regularly, the chances of failure would be significantly less.

One of the traits needed to become good at anything in life, including trading, sports, or even going up the career ladder, that trait is dedication. Dedication is also vital for becoming a successful trader. Forex is a long process, a really long process. Many of the successful traders that you...

I developed a winning strategy built on three pillars; a robust methodology, a good money management system and a psychological posture suited to my personality. Balancing all three has proven to be my edge to trading.

In forex, four major forex market exchanges are located in London, New York, Sydney, and Tokyo. Since they all are in different locations of the world, their hours of operation are also unique. Therefore, not all hours of the day are equally best suited for trading. When more than one of them...