Recent content by Oblectation

Try trading when the New York and the UK trading sessions overlap (if you get time). The liquidity is a lot higher during this time.

Using fxcm since last year, they are good. Want to open one more account so I am also testing a few more brokers like aaafx and xtb, any thoughts?

Risk management has to do with reducing your losses while trading. You take certain steps to cut losses, like use of stop losses and limits. On the other hand, money management is about carefully managing your funds so that you can survive in the market and doesn’t end up blowing your account...

Modern traders have more brokers to trade than it was ever before. They don’t see forex as a way of growing their money over years but minutes. This has increased the competition and survival has become difficult for each one of us.

I also follow this rule, but once in a blue moon, I risk a lot more than 2%, especially when I find a trade where I can make huge profits. I know it’s risky, but it doesn’t feel right to risk only 2% when you know you can make a lot more by risking more.

So, what did you learn after reading the book on Nuclear war? The entire world was happy seeing COVID 19 go, but Russia was like, ‘hold my beer’. You’re right, Russia has ruined the party for everybody, especially for Ukrainians.

The war between Russia and Ukraine has affected every market, so how could forex remain untouched by its impact? Forex too felt the heat, as there were significant dips in the prices of all currencies, especially the ones related to the countries involved in this war. Wars are never good for...

I too have experienced that phase where I thought I didn’t have it in myself to step up and reach the next level of trading. I was using the same strategies, making the same kind of profits for years, and that was the root cause of the problem. I didn’t improve my strategies, which is why I...

That’s sad news for the trading community. His teachings are immortal and budding traders will continue to learn from them.

The forex market allows you to make huge profits in a short span of time, which is its pro, but the same profits can disappear in a blink of an eye, which is its con. The forex market is highly volatile, so a trader should know when to enter and exit a trade in order to avoid such a situation.

I agree with you on this! Trading is indeed frustrating when the trades are going in the opposite direction, but when it starts to give you rewards, you get more into it and start working hard to understand the intricacies of the market.

It’s great to see that you have such control over your brain! Do you practice yoga or meditation because such control comes from doing these things?

Trading without risk management is similar to gambling because risk management allows you to implement certain rules and measures to prevent the trade from any negative impact, so if you are not implementing risk management, then you’re taking huge financial risks.

The combination of both will be good for new traders, but the rest depends upon the personal preference of traders.

Solid point you’ve mentioned there! When a trader has a strategy for trading, he won’t be wasting his time monitoring currency pairs. He will find potential trades and open his position.