Recent content by Descrive

Discipline, the ability to cope with the tense market environment, focus and learning new skills along the way. A good trader is a strong minded individual who calculates risk and takes their own time to receive profit by making the right moves.

Trading in the fx market is risky and traders should be aware of how they carry out their thinking in order to earn and gain their end goals. It is easy to lose but difficult to receive.

Hello newbie. In order to be a profitable trader, you must work hard. Always remember that patience is the key to success in the forex market.

That’s true. Without knowledge there’s no way you’re going to be a profitable trader. I believe knowledge is one of the most essential components of lucrative and successful trading. The trader will be unable to overcome risk unless they comprehend market sentiment and the elements that...

The answer will become too long if I started explaining all of the tools and techniques that helped me to become a profitable trader. But the short answer would be constant learning, practice and patience. I started by reading good books from professionals and practised on a demo account for 6...

I also love trading a lot. However, it was not something that happened in a day. It took me some time to find joy in trading. The initial phase was rather challenging than enjoyable. But now I am at a point where I can say that I enjoy being a forex trader and it is a job that feels fulfilling...

Have a good trading psychology. Be patient and mindful.

True! Greed is one of the worst enemies of the trade. It is important to be disciplined enough to not make frequent changes in the trade once placed.

The breakout FOREX strategy is my personal favourite and has proven to be quite successful for me. Essentially, the strategy involves looking for price breakouts above or below key support and resistance levels. Once a breakout occurs, I enter a trade in the direction of the breakout and aim for...

There are many different technical indicators that traders can use to help them make decisions about when to buy and sell currency. These Two are the most popular indicators MACD and Fibonacci retracement. Both of these indicators can be useful in making trading decisions. But keep in mind that...

I would not advise newbies to use EAs. Although most of the softwares available in the market is good, a beginner must learn on their own when to execute a trade, and how to do so. Many times, a suggestion given by the EA may not be accurate, or may not suit the trader’s strategy. A trader must...

Research on the internet and you will find several options to learn. There are books, videos, podcasts, articles, and forums to grasp knowledge from. Develop an understanding because that’s the only way of staying on track.

Yes, you can make money in forex. Just get your trades right and focus on the right things. The market is a little harsh for those who don’t study well. So, give enough time to your learning and make good trades.

It is imperative for you to focus on your learning and the quality of time spent. You can take years to learn, but it is only the quality of time you spend on learning that will determine your success in trading.

Trading with risk management will help you control your losses. If you do not practice risk management, it will take a heavy toll on your finances and your mental health.