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Definitely! More than 90% of the traders fail in the forex market. Mostly, it is because of the bad trading psychology and the lack of commitment to trading.

Diversification can be good because it can help traders to reduce risk. However, trading the currencies that you don’t really understand or are highly volatile can never be a good addition to your portfolio.

I agree, going offshore for better conditions/offers or services is a matter of individual choice. I am of the view that you need to DYOR and find yourself a reliable broker, regulated or not, that fits your particular trading needs. Currently I’m using cedarfx and coinexx for 500x leverage...

Indeed! As traders, we all should analyse ourselves. Trading is personal and we are our own gurus.

Perhaps! It depends on you. If you can’t stop yourself from trading even when there isn’t any need then you are definitely addicted to it. Addiction doesn’t do any good but it only causes you exhaustion. Some traders devote a lot of time to trading and neither make money nor learn from trades...

Go with any major pair like EUR/USD or USD/JPY. Check for the liquidity trends and then opt.

Manias, Panics, and crashes: A history of Financial Crises by Charles P.Kindleberger

Not really! I like to spend time with my family on weekends. We usually go out if the weather and the virus permit.

The general difference between forex and stocks is that in the latter you trade shares of companies but in forex you trade currency pairs. Forex provides more liquidity and can be more rewarding.

Yes, I think it’s better for new traders to avoid exotic pairs because they Offer low liquidity Are complex to trade Have high volatility Have high spreads Although if you are a professional trader and looking to diversify your portfolio, exotic pairs can be a good addition. Just make sure that...

EUR/USD, and GBP/CHF

You can read all the good books about trading psychology but it still won’t make any difference. Psychology doesn’t work the way that someone tells you the downsides of negative emotions, how to deal with it and you automatically start behaving better. It needs a lot of discipline and self...

Imagine the loss that you can incur otherwise if you don’t place a stop loss. You can’t control how the price moves and you also can’t monitor the market every minute. There’s a possibility that you take a break from your trading session and when you return back you discover that the market has...

You will be good if you are using 1-2% of your total trading capital to trade. Anything more than that can cause financial losses that you may not want to incur.

I have always seen swing traders become scalpers. But it’s for the first time that I am hearing about scalpers turning into swing traders. Whatever it is, I don’t think it’s a major issue to switch your trading strategies.

Governments, central banks, and other financial institutions, big companies, and hedge funds all are big market players who make big transactions on a daily basis. We, retail traders, are also participants in the market. But since our transactions can’t really move the market, we trade using...

You have to keep one thing in mind. What you see in the market is not anything new and it has probably been seen by most other traders too! You might have a lot of thoughts in your mind regarding it but the best you can do about it is research it on the internet. You will find more accurate answers.

This makes me believe that trading comes differently for every trader. Some traders have been doing so well at it, while some have lost their life’s savings to it. We need to be extra careful when we are putting our money at risk. If it is not working, we need to take some time to figure out...

This is why your knowledge is essential. You must not only be good at identifying trading opportunities but also trading risks so that you can save yourself from entering trades when not needed. After all, making money is not the only skill to be learnt; saving money is equally important.

The success of your trading career doesn’t depend on how many trades you execute in a day. But how many of them turn out to be profitable. It’s not just about entering a trade at the right time but also about exiting from a trade at the right time. You might lose sometimes but the profits you...