Recent content by Bumbledom

Many new traders are using EAs for making profits. Imo, new traders should not prefer using them as they restrict the learning process of a trader which is very important for making consistent profits.

The formula of success in forex is simpler than when actually solving any. Consistent learning, understanding the market and good trading skills are required to make winning trades.

There are many traders who are aware of the unnecessary risk they are taking but under the influence of greed they are unable to use a strong risk management strategy and hypothetically assume that they are making a large amount of money.

Absolutely. Money management is extremely important. Without having the skills to wisely manage your funds, you can end up making your bank account zero. Not only a trader but basically everyone should know the very important skill of money management.

Every trader has their own strategy and you should never try to imitate others else you might end up in losses. Follow your own trading style that suits you the best with the best risk management plans.

It’s a 24 hour market worldwide, depending on where you’re located, scan the market, find the right time suitable for you to trade.

I always put calculated money and try to take calculated risk. I try not to be driven by greed as it has brought many losses to me in the past.

I am dedicated most of the time whether big or small money is involved. Without dedication I don’t think it is easy to survive the market in the long run.

Best risk reward ratio is 1:1.5 or 1:2. Also it may depend upon your trading strategy.

Top three tips according to me are: Risk management Technical analysis Well defined plan

Robots sometimes can help you out of complex and tiring situations in trading.

I had a few setbacks initially. Then I learned the importance of protecting my money.

If you want to do technical analysis then go for indicators. I do analysis so Indicators is my go to choice.

Anything that is in compliance with your strategy. I prefer Moving average.

Trading really is an interesting area as it always keeps you on edge. But you have to have a risk taking attitude and strong mindset to not just make profit but enjoy it.