Recent content by Tritical

The OA and Midnight Mass.

Some of the rules that have helped me to become a better trader 1) Use of stop loss and take profit order. 2) Risking 2% of my trading capital 3) Maintaining a trading journal 4)Backtesting regularly

Yes, it can be an addiction, which can cost you, both financially and emotionally. If that is happening, then you need to reconsider it.

Using FinproTrading, no inactivity fees, no withdrawal fees and pretty tight spreads.

I track my trades and study a little bit about the market and other ways to make money online.

These are few of the challenges that I faced when I started trading- 1) Creating a strategy. 2) Coping with trading psychology 3) Good risk management 4) Dealing with loss 5) Overtrading

Yes, diversification is a good way to avoid risk. In order to generate income, we should invest in stable, lower-risk investments that can produce good returns for a longer period of time.

Trading Psychology: how to get a successful mindset by Timothy Sykes. Trading in the Zone by Mark Douglas is a good book as well. Books and courses can tell you ways to control your emotions. However, they won’t permanently fix them. Other than reading books, you need to implement your...

It’s personal preference how much risk one is willing to take. But it is recommended that traders should risk a very small percentage of their trades. And the 2% rule has been helpful for many.

I trade with EUR/USD and USD/ JPY. but looking at exploring more.

NO. You should never ignore losses in forex trading. Indeed, whether you win or lose, you should always backtest your strategies and work on improving them further. It is so because losses are a part of trading. If you analyze them regularly, then you will have a greater understanding of the market.

Same here! I trade two major pairs: EUR/USD and USD/JPY. Trading 2-3 currency pairs has been very beneficial to me. And Gold is evergreen.

In stocks- You buy shares and become a part of the company. As the company grows, your money grows. In forex- You exchange currencies at a certain price. And it is the price or pips you catch that determines how much profits you will make. In terms of rewards, forex can be more rewarding, but it...

That makes sense because only your trading skills take you ahead in forex. Demo trading helps you develop required trading skills. Therefore, every trader should practice before entering into the live market.

The forex market moves because of supply and demand. The main participants in the forex market include central banks, hedge funds, and financial institutions. Because of their big size in the market, which is over 50%, trading decisions by banks influence the forex market the most. However...