Recent content by Gnomonn

Risk is when we put money on stake without having any surety whether it’ll make profits for us or we are going to lose all of it. As there are no guarantees in forex, traders should always be prepared for the worst and must take every measure to minimize the impact of losing trade. The best risk...

Some offshore brokers will provide leverage upto 3000:1 but I’d never recommend it since it can be really risky and blow your account within seconds. I get 500:1 with Aaafx but I still think it’s very high and traders should never exceed, no matter how confident they are about their skills...

People learn from their mistakes. Similarly, losses are your mistakes in trading. How will you grow if you stop analysing them?

Thinking of all those times when I didn’t use one and lost too much of my capital makes it easier to use stop loss. The function of it is to protect your account so I’d any day prefer to take a small loss instead of getting kicked out of the market.

Forex Factory and Forexlive are my all time favourites.

Sorry for your loss. I’d really suggest you take a break from everything and try to heal yourself. If you really want to continue, you can consider automating your trades to reduce the emotional influence. Good wishes!

One thing that has proved helpful to me is that I try not to put a large percentage of my capital at risk. It isn’t the best way to go if you are looking for significant profits but it’s surely beneficial for beginners as preserving the capital allows traders to be in the game for a long time...

There could be any one reason from many possible reasons. Forex trading requires trades to be very particular about the trades and even smallest mistakes in trade can lead to losses.

Beginners should initially work on gaining trading skills and regulating emotions instead of directly trading live and dreaming about making profits.

Due to supply limitations of commodities and geopolitical tensions between Ukraine and Russia has led to increasing inflation resulting in pressurising the Eurozone. The euro market is bearish and I am not preferring to trade this pair

I agree, and the worst part is that we don’t even realise that we are addicted. So, it is very important that we keep a check on ourselves.

This is really an informative and nicely written post. Tracking down the trading performance is very important as it acts as a reference for future trades and also prevents from repeating any past trading mistake.

That is good. Try using strict stop-loss and focus on protecting your capital first. Often time we take risk management lightly on demo accounts and take those bad habits to live trading accounts.

Starting off with a demo account and then switching to a micro account before going live with a huge amount is the right way of getting familiar with the trading platform and developing right trading psychology.

This is a good start. I’d also suggest not directly jumping onto a standard account, instead first trade using a small deposit account. This will also help you in regulating your emotions.