Recent content by Phalange

Indeed this book is amazing. I also like “Trading for a Living” by Alexander Elder. This book explains that successful trading is based on three things: Mind, Method, and Money. The book also explains how to master them and trade successfully.

Trading with Coinexx, spreads on majors are tight and commission cost is also pretty low, 1 dollar/lot. Works well for scalping.

If I had to answer this question some time ago, I would have blamed it for all the stress in my life. But now that it has taught me how well I can manage my money, I will call it a good decision I’ve madeso far. Profits and losses are a kind of equals in my trading career but I know what I am...

Pros - Liquidity, Cons - volatility. More than $6 trillion are traded in the forex market every day, which makes it a great platform to make good profits in a short amount of time. But, the market is also quite unpredictable, hence making it very difficult for traders to judge where the trade...

There is no need to follow this 2% rule strictly because if a trader is sure about a certain trade, then he/she would miss the opportunity to win big if he/she trades using the 2% rule. One can go up and down this number according to his/her knowledge and experience.

I love trading GBP/JPY, as it is one of the most liquid and stable pairs. It also provides tight spreads, which allows me to have bigger profits. I mostly trade when the market opens and closes because that’s when the volatility is at its maximum compared to other hours of the session.

Words of wisdom! I was reading a book on trading psychology, and it had the exact same thing written that what you’ve mentioned. Trading is premised upon strategies. Bringing emotions won’t result in good consequences.

As it hasn’t been too long since I’ve started trading forex, I thought it would be a good idea if I read something on trading psychology to keep myself focused on trading without being emotional. So, here is what I’m reading these days, “Forex Trading Psychology: The Secret To Success: Trading...

Whenever a war happens, the world economy suffers, and it is going the same way in the war between Ukraine and Russia. Forex has become even more volatile in the past few days with all major currencies taking a dip, be it USD, EUR, GBP, and so on. As long as the war is on, the market will remain...

I am a very strict trader when it comes to following my strategy or a trading plan. I don’t hop from one strategy to another if I see that the market is not going in my favour. It may help a trader to win once or twice but this is not viable in the long run.

A trading edge is basically your strength. It’s anything that helps you accumulate more profits than losses and I think the best way to know your edge is by educating yourself because this is how you unleash your hidden potential. In addition, track your performance in your trading journal as it...

I think tik tok is messing up with forex traders who are looking for trading signals or strategies and ending up on accounts of scammers pretending to be forex experts. But, the ratio of such traders is quite low, so there is no chance that a phone app can mess up a multi-trillion market.

I’ve been trading forex for quite some time, but now, I am planning to explore the trading opportunities in oil. Let’s see how it goes.

I’ve used the Trend Trading strategy and it has turned out to be a profitable strategy for me. In this strategy, traders will trade in the direction of the current price trend. To do it effectively, they will have to identify the overarching trend direction, strength, and duration.

Money management is a strategy that isn’t just useful for beginners but seasoned traders as well. A trader should know how much money he/she has risked and how much is left in the trading account for future trades. This strategy helps traders minimize trade losses to a level where they can be...