Recent content by nonplussed

Scalping is for those who can make quick decisions. If you take time to make trading decisions, you better stay away from it. Executing a large number of trades in a day can’t be done by every trader.

Comparison is the only way to choose the best broker for yourself. Create a list of potential brokers and compare their features. You can also read reviews on forex forums or some popular websites. Few brokers that I can suggest are: lmfx, turnkeyforex and cedarfx, can test them with some play...

You have to work in accordance with the market. Even if it takes a turn, you can’t blame it because you made a wrong prediction that led to a loss. Moving is the basic nature of the market and it’s useless to question it.

ForexFactory’s economic calendar is good for planning trades.

Be patient and never stop learning there is an ocean of information and you can never know enough of you want to be a successful trader then chase valuable information and apply that knowledge to become trader a better trader.

Having a solid trading strategy is important, undoubtedly. But what separates successful traders from other traders is discipline. Most of the traders only make rules but fail to follow them. To be consistent one needs to be disciplined.

Absolutely! Books and courses can only guide you. Your readings will be of no use if you do not design a set of rules and implement them to control emotions which you face during trading.

No! Forex was doing just fine before Tik Tok came, and it is still doing fine. On the other hand, it can encourage more people to join forex as more and more people will be aware of this market and the ways to earn money through it.

Not sure about the number! But more than 90% of the traders fail in forex trading. Most of them fail because of poor trading habits and bad trading psychology. Not sure about the number! But more than 90% of the traders fail in forex trading. Most of them fail because of poor trading habits and...

The forex market is open for 24 hours, five days a week. The liquidity varies depending on the trading session. It is mostly seen that volatility is high when a session starts so it's better to avoid it. You should trade during the liquid hours to minimise the costs and maximise the other...

They both are different. Demo accounts let you trade in a trading environment that’s very similar to the live market, but in demo account you only trade with virtual money. Whereas in a micro account, you trade in the live environment with your money, but the risk is not high. Micro accounts...

Through monetary policy, exchange regime setting, and, in rare situations, currency intervention, central banks have a significant impact on FX markets. In total, there are 8 central banks that control their local currency through monetary policies.

I don’t think women are bad traders. Infact, I have a friend, and she trades better than me. I think females are more patient in learning as well as in taking decisions which proves beneficial to them. Unlike males who just want to act.

Yes. Forex can be an addiction. I personally know someone who suffered a big loss in trading because of his obsession. There is a lot of risk associated with trading. Don’t trade to kill time or definitely not enter and exit trades because of impatience. Plan your trades and follow that plan.

The price movement of a commodity, stocks, currencies and other instruments plotted over time is known as price action. All technical analysis of a stock, commodity, or other asset chart is based on price activity. Short-term traders base their trading decisions only on price action and the...