Recent content by Lappaceous

Loneliness is the cause of some underlying condition. You need to find out. Sometimes, living in the same circle can also block your thoughts and make things boring. I guess, you need to interact with more people and work on your interests! Take professional help, if needed!

Persistence makes a successful trader.

It’s important to choose a broker that offers low spreads at all times, with both cedarfx and turnkeyforex spreads are quite tight and stable, works well for scalping.

Risk is that percentage of money which you can potentially lose in hope of getting returns. Forex is a high-risk and high-reward market. You have to take risks if you want to make money. However, the risk should be calculated. You should also take the right steps to minimise risks because forex...

It is up to the traders how much risk they want to take, but it is better to take a low risk because the forex market can be highly volatile. Personally, I risk 1-2% of my trading capital per trade.

Trading in the zone by Marl Douglas is very popular book on trading psychology. You can refer to that. But make sure you implement what you read otherwise it would be a complete waste of time.

EUR/USD USD/JPY GBP/CHF NZD/USD AUD/USD

Indeed! That happens because we look for quick results, which is not possible in forex. I think discipline builds up once you show up every day, despite how you feel.

This debate can never end! The percentage of traders who lose money varies from year to year. But one thing is for certain: the high risk associated with trading. As a trader, you should keep note of this and take the right measures to minimize risks.

Exactly! As a trader, you will definitely lose money at one point or another. You should know how to cope with that. Don’t let your losses and wins overwhelm you. Instead take the necessary steps to minimise risks and learn from your trades.

Some of the rules that have helped me win trades. 1) Having a trading plan 2) Not risking more than 2% of trading capital per trade. 3) Being consistent and sticking to my strategy. 4) Using stop losses, take profit order, and other risk management strategies. 5) Learning from previous trades

Think of it as part of risk management ! It is there to save you from losing more than you are ready to. If you are a new trader, then you must use a stop loss.

I also find it very interesting. It’s kind of a long book, but worth the read.

Mostly, I am out with friends on weekends. Sometimes when I only want to laze around, I stay home and watch my favorite movies but I never miss trading on weekends..

If you are an inexperienced trader, then it is better to trade with pairs that are less volatile. Major pairs like EUR/USD, USD/GBP, USD/JPY, are good choices. Exotic pairs are complex to trade and have high volatility.