Recent content by Andor Manly

Rather than just FPA, they should also check out trustpilot, investopedia or dailyforex, usually my type of sites to check before opening an account with brokers.

According to me solid trading plan includes : Trade research. Trade management. Trade exit plan. One should be particular about all aspects of trading rather than just trade entry to have a solid hold of trading.

Yes, losses are hard to deal with in trading, but taking a small break can help. Consider your strategy and your position size before coming back in. When you do decide you are ready, start small. Getting back into the winning ways even with small position sizes is a good way to build confidence...

Yes, psychology plays a main role when it comes to shifting from demo to live account, mindset changes when real money kicks in so one should be ready to actually implement their knowledge mindfully in live accounts because the win and loss of real money hits hard.

Having a mentor is good but I feel self mentorship is more important because in the end a mentor can’t spoon feed you, it is just your level of understanding and perception which will make things work out in trading for the long run.

Since position sizing is an important skill as a forex trader, I always prefer to study the market movement in order to decide when to scale in and scale out. I usually scale in when the price comes at a predetermined position that helps me to get an estimated target of my profits till the end...

I prefer a demo account first since before putting the capital to trade we get an idea how to make moves in the real trading market. In my opinion using a demo initially really helps rather than just starting up with a micro account in one go.

Agreed, a demo account has its own ways of making us learn various trading skills because of the liberty of risk, and in real accounts we can apply them once we get our trading abilities improved.

Agree, even I avoid trading exotic pairs because of the less profits and uncertainty involved.

It's the law of society and pretty well replicate on trading too that none is responsible for our actions except us so we should know that decision making really plays an important role in trading, as once you start facing losses you cannot blame anybody except yourself so be careful from the start.

Even for me moving averages work and show good results, rising moving averages indicate that the security is in an uptrend and that’s reliable for me, I prefer exponential moving average as they are very reactive and helps me to understand the patterns of change by crossovers, it took a lot of...

I prefer trading in forex because I like to trade in currencies because I feel I can make more profits in the currency movement because we can trade in large volumes due to the huge liquidity in the market but for diversifying your portfolio and to earn more profits, one can try different...

I have done a lot of trading on a demo account and now thinking of actually going for live trading on micro. When did you start live trading?

When we step into trading we should prepare our mind in such a way that it knows that having profits and losses would be a part of this thing. The first stage of loss enables you to deal with the losing trade but when losses exceed and one’s mind goes into a zone where he/she thinks loss is...

It's all about how we figure things out in trading, I agree. You will gain more clarity about trading the more you research on your own.