Recent content by dorcaslugo

Not really! In fact, exotic currency pairs have the most chances of letting you make money. But since they are highly volatile, you may have a tough time making money by trading them. You need a deep understanding of the currency pairs and proper market analysis to check the price directions and...

Stock market is very stable as compared to forex. Unlike the forex Market, it has a stable price pattern that can be easily tracked. In forex the frequency of fluctuation is more and random.

EUR/USD is mostly preferred by the beginners. This pair has tight spreads and also there is a lot of information available about this pair. Later, you can opt for another pair like GBP/USD or even trade with cross pairs like EUR/JPY to experience trading in different levels of volatility.

First, one huge profit doesn’t make you a consistent trader. Second, If you want to hold on to your profit and are afraid to do anything that’ll make you lose your gains, that means your profit was nothing more than a random lucky event. To become profitable in the long run, I would suggest you...

Every trader needs to know that forex trading is not just about making money but also about saving money. And for that, you will have to use a proper risk management strategy. You should never risk more than you can afford to lose. You must also never open trading positions when you are not sure...

I read somewhere that Asian people like to trade gold and other precious metals. Not sure how true that is in real life.

Being different personalities, we do better when we find our own ways. If we follow someone else, we are not actually exploring the possible options. We are just passing our time by being mediocre. Build your own trading plan that contains information about the trades you want to execute and how...

I know your education is important but it should not only be about reading what it is and not actually applying your knowledge. If you are already through your basics, the next step should be speculating the live market. You are yet to know the difference between the live market and what you...

After testing the demo account one should start with a micro account with them. That would give a clear picture of the trading conditions of the broker. This is what I did before I started trading with finprotrading. Although the demo trading conditions were the same as live, it's always better...

The first step of trading forex has to be learning and then, practicing. If you think that you will be able to overcome challenges even if you don’t study, you might end up inviting unnecessary risks. It’s better to first know what it is all about and then, find ways to make money.

That’s all in your head. A strategy or a system is never 100% accurate. They all work in some conditions and not in others. It’s about knowing when to make use of a certain trading system and not using it when you shouldn’t. If you keep looking for a holy grail, you will miss opportunities that...

Forex trading is like any other way of making money. You have to put in the effort to make a profit. It won’t come easy and for free. Jump in only if you are ready for the challenges.

I am a believer in fund diversification. I don’t think that it is good to put all your eggs in a single basket in any sphere of life. Trading is the same and so, I trade forex, indices, cryptos, and commodities.

If you keep expecting the market to be in your favor without working to find profitable entry and exit points, you are bound to fail. In no way, forex trading offers an easy path that leads to money-making. It’s a rocky trail and you will have to find your own way to the top.

That would be a difficult choice with so many strategies that seem to be profitable. Why not try all of them on a demo account and see which ones work. No need to stick to just one strategy. Always use a strategy when it fits a certain situation perfectly.