Recent content by mr.taylor

Yes absolutely, as I earlier also said manual monitoring is very essential while using EA’s. It is always advised that if ea is not working as per your trading pattern than its better to apply some other trading strategy or switch to manual trading. Manual trading surely provide trader with deep...

It is true that continuous updation is required in ea’s so as to cope up with the changing market conditions. EA can prove helpful but a trader must not completely rely on it, manual observation of trades is still required.

Absolutely there is no shortcut to get rich in forex trading or you can say it is not a get rich quick scheme. EA’s are a good option but there is always a chance that it may not work in long run. Testing these EA’s before going live on demo accounts can be recommended.

Absolutely, newbie need to be very cautious while hedging as if things went wrong then there are likely chances that he might wipe off his account.

Hedging refers to taking a position opposite to the initial open position so as to limit the risk. True that, it might not prove beneficial for the newbies as it’s a very complex process and requires proper understanding about the market swings and timing. Playing without proper knowledge can...

Yes absolutely, forex is a risky business. But with proper risk management we can control the risk associated. Few risk management techniques are like deciding in advance how much to risk per trade, setting proper risk-reward ratio, using adequate stop loss and effective use of leverage.

Leverage should be used based on the account size. Trader should not risk more than 1 or 2% of the trading capital on a particular trade. And rightly said above through proper money management plan risk attached along with high leverage can be controlled. However, I prefer to use upto 100x leverage.

Leverage boosts up the trading amount. Higher the amount-higher are the chances to make profit, but there are always two sides of a coin. High leverage brings along high probability of risk which can affect the trading strategy adversely. So as per me ideal leverage should be between 50x to 100x.