Recent content by Kalology

Honestly, I have been trading for a little more than a year, and forex has brought some changes in my life. I am enjoying the process although some days are rough.

You can’t become a profitable trader if you don’t know how to manage risk and money. The purpose of money management is to safeguard trading capital. Some of the steps you can take to manage money- 1) Allotting a risk:reward ratio to every trade 2) Defining risk per trade using position...

I use finprotrading, spreads and commissions are both low.

There are many good learning resources available online. You can refer to e-books like Currency trading for dummies and trading in the Zone and Youtube channels. If you’re completely new, then you can check out Babypips. There is a free course that you can do. After completing the course, you...

Forex indicators are important trading tools that all traders should be familiar with. However, the effectiveness of a technical trading indicator is determined by how you use it.They tell you what has happened, not what will happen in the future. So, no matter how many different variations you...

With automated trading you can trade without emotions, unlike in manual trading, where trading psychology is the key player. Traders can use bots to execute complex strategies easily and use them for 24 hours. However, manual traders, on the other hand, have the ability to process the market and...

We can’t neglect the role that psychology plays in trading and a good trading psychology is as important as your trading skills. Traders can’t develop any of these without patience and consistency. So, it is true that forex is a game of patience.

All traders approach the market differently. You have to practice and see what works for you. The information out there can guide you, but you have to test yourself whether it is good for you.

Definitely! Nobody wants to lose money. But in forex trading, you lose more at some point or another. However, you can learn to minimise your risk by incorporating the right trading strategies. All traders have highs and lows, but some traders find it hard to deal with losses. It would be better...

If you are starting out, then you should think in terms of how much risk you can take, not trades. The forex market can be extremely volatile. You shouldn’t risk more than you can afford to lose. Start with risking 1% of your capital per trade. And avoid overtrading. No trader makes a living in...

Learning never stops, and this applies to forex trading as well. Although you can cover basic forex concepts in a few weeks, the implementation part is the hardest. Forex market is always-changing, and you need to be flexible and trade as per the market condition demands. Just be consistent and...

The best time to trade depends on your preferred currency pairs because their liquidity varies as per the trading sessions. There are four trading sessions, and in order to make the most of trading, trade in the hours when your pairs are active. You can trade during the overlap of the US and the...

Try these books: Currency Trading For Dummies -Brian Dolan and Kathleen Brooks Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude - Mark Douglas Japanese candlestick charting techniques -Steve Nison

EAs have many benefits to traders. With the help of EAs, traders can execute complex trading strategies and can operate for 24 hours. They can also open and exit trades for you, but EAs are not 100% accurate when it comes to returns. As a newbie, you should have a good hang on manual trading...

Learn from your trades and always backtest. Have a trading journey to keep track of your records. Do not risk more than 5% of your trading capital Always have a trading plan and stick to it. Learn about trading psychology and control your fear, greed, and anxiety. Develop a strong risk and...