Search results

As traders, we can not certainly fight the odds of the market but we can take certain measures to minimise the losses.

Imo, the most important thing in trading is the trader’s mindset. Having the right mindset allows you to get emotionally and mentally prepared for facing challenges in trading.

To select a broker for demo trading, I look for the same qualities that I’ll be looking at while selecting a broker for live trading because demo trading for me is a way to test a broker. If I don’t have an intention to go live with them, no use of using their demo account as well. Currently I...

Imo, loneliness is not the lack of friends or a company, it is within us which makes us feel that we lack something even if we have everything.

Money management and risk management are two different things. Money management allows you to use your funds sustainably. Whereas risk management allows you to reduce the risk that is involved in trading forex.

I’d only suggest you look into the important elements for a successful trades and practice as much as you can.

If you ask beginners, the market volatility would be a con for them. But if you ask an experienced scalper, the same volatility would be an opportunity to maximise profits. The pros and cons change with the experience traders gain over time.

There will always be pros and cons of trading a particular category of currency pair. For instance, when you are trading majors, you may get tight spreads and market stability but the profits will be limited. But if you trade exotic pairs, spreads will be wider and the market will be highly...

Needless to mention, new traders should not take risks until they have practised well on a demo account. The market may seem to offer several trading opportunities but if you are not using trading tools correctly, they may take your trades in the opposite direction. Moreover, as you are just 16...

I prefer Reuters, Money.cnn, Marketwatch and FXStreet for keeping a track of news related to finance.

Right! And traders choose among these markets based on their trading style. Traders who have less risk tolerance or no not like trading aggressively consider trading stocks and traders who have high risk tolerance or prefer trading aggressively prefer trading forex.

For me it was like evolving which was though a slow process but a powerful one. Starting with small accounts helps in developing a strong trading psychology without affecting trading accounts much.

Lack of proper knowledge and control over emotions. Most of the traders panic when the market goes down which results in making impulsive selling decisions.

Traders also prefer scalping as it offers many potential opportunities for trading whose profits can be amplified using leverage.

I scalp two pairs- EUR/USD and GBP/JPY. Mostly I prefer EUR/USD more than GBP/JPY.

It is important to practise trading leverage on a demo account before trading on a live account. This will give traders an idea of how leverage actually works and how it can impact his/her trading funds.

Reasons to avoid exotic pairs. - high volatility and high spreads - low liquidity - complex to trade.

Don’t ask for tips! What may work for others may not work for you. Find your own way by analysing your trades.

Why to use a demo account? To create workable trading strategies To become familiar with the trading platform and trading conditions offered by the broker. Trading on demo accounts is fine as long as you want to practise and develop skills. But trading is all about risk and mindset. And...

It’s wrong to keep your focus on making money only. The market is so huge that if it makes even a single move against you, it may wipe out your entire trading account in one go. Do enough practice so that you are prepared for different market situations!