Recent content by robindude

I think forex is more stable than stocks. Stocks are the shares of a company whereas forex involves an exchange of currency. So, stocks are more prone to loss of money.

At least his 200k euros are going to serve all of us a lesson on how to research thoroughly before making such a big investment. Scammers are getting smarter with each passing day. Avoid using platforms that do not seem reliable.

Coinexx, tickmill and lmfx are few of the good ones. Spreads and commissions are quite low.

Keep a trading journal to track your trades. Try to learn as much from your trades and perform backtesting. Always assign a risk reward ratio to your trades. Risk only a small percentage of your trades, and increase gradually. Use stop loss and take profit. If you are a new trader, focus on...

Traders should trade with pairs which are liquid and not highly volatile. While choosing a pair, traders should look at the availability and accessibility of information available to perform analysis for the preferred pair. I would suggest traders to go with major pairs, such as EUR/USD...

Reading your query makes me believe that you are well-versed with only one side of leverage which is magnified profits. I think you better don’t overlook the fact that there is another side to this too. Just like magnified profits, you have equal chances of making magnified losses. So, better be...

Yes, scalping is risky but if you learn properly and do enough practice, you will be able to ace it. It’s quite understandable that making quick gains in the market is not everyone’s cup of tea. If you wish to do anything like that, you will have to take risks and challenges.

Demo accounts are a good way to start off your trading career but I won’t recommend depending too much on the results you get from demo trading. The live market is different and you will have to obtain experience in the live market too before you take big risks. For this purpose, micro accounts...

I didn’t know that all of these offer economic calendars. I have only used babypips' economic calendar so far and they work great for me.

I know that using a stop loss is a great way of limiting your losses. But what makes me avoid it at times is the reason that it gets triggered even if there is a small price fluctuation. This has wasted my trades several times in the past.

I don’t think we are competing with anybody. If I want to sell a currency, I am not forcing another trader to buy that. Every retail trader makes their own choices and plays individually. While institutional traders may be moving the markets, we are just trying to make little profits from those...

Price action is dependent on technical analysis tools but it is not as objective as other indicators. In price action strategy, a trader tries to predict the market by looking at the price movements in the recent past. The decision made is subjective because not every trader interprets the price...

No matter how hard you try you can’t actually eliminate noise if you are scalper or a day trader, while in swing or position trading you can avoid the noise. Trend direction is a good way to eliminate minor deviations and only show larger trends.

Risking more than you can afford to lose is utter foolishness. If you can’t follow a proper risk management strategy, you will have a hard time in the live market. Prepare yourself well before you take the plunge.

It’s never a single asset that I trade because portfolio diversification is an important part of my trading plan. From the very beginning, I added risk management and money management to my trading plan and have been following them since then. It’s going great for me so far.