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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...

Start with a major pair because they are more liquid and not very volatile. EUR/USD, USD/JPY, and USD/CAD are some best pairs to trade. Initially, it would be better to focus on 2-3 pairs, so you can create strategies and earn profits, because all pairs require different strategies and expertise.

The forex market opens on Mondays and remains open 24 hours till Friday. There is low liquidity on weekends; therefore, traders don’t trade on weekends. And there are 4 major forex sessions, starting with the Sydney session. The liquidity of the market varies as per sessions. 50% of the trades...

Yes, scalping is a risky strategy because you have to make quick profits in a short period of time. Traders also have to do multiple trades to make substantial profits and if you are bad with emotions, then it can backfire. Scalpers shouldn’t risk more than 5% of their capital per trade.

No. But social media platforms, including Tik Toks, can scam a lot of forex enthusiasts.

I use stop loss as a way to minimise my trades because when I am taking a break from trading, I can be certain that the trade will automatically close if it doesn’t go in the expected direction.