Recent content by Tauricide

Price action is really crucial to extrapolate trends and make trading decisions. It forms the basis of all technical analysis, so it is crucial for anyone to understand thoroughly what price action is and how it works.

It’s hard to accept losses, especially if they are there for a long time. But acceptance is the key, and you have to understand that. Backtest your strategies and see where you are going wrong.

To be truthful, it was a long and challenging journey for me. But I am glad I didn’t give up and became a consistently profitable trader over time. It takes a lot of learning and practice for a beginner to transform into a skilled trader. But the end results are surely worth all the effort.

Honestly, I highly doubt that any Holy Grail trading system would work for anyone and everyone alike. The success of any trading system would also depend upon the knowledge, skills and risk management of the trader who uses this system. Still, feel free to share your knowledge with us.

Traders have the chance to profit from a bullish rally when there is a double bottom, which often denotes a positive turnaround.

There are so many strategies that often traders get confused. The most crucial aspect of trading is choosing the strategy with which you are most at ease. You must stay informed and adapt your strategies to the shifting market conditions. For me, short-term tactics are more effective. After a...

After reading and analysing the market through the internet and various books, beginners should focus on practising on a demo account first. They must put their knowledge to the test to determine how much of it they have grasped. Earning a profit does not happen quickly, so it is vital to...

Yes, traders have a common fear that is fear of losing money. However, this must also be dealt with. It is preferable to work on your mindset and accept that profit and loss are inevitable in business. You can learn more about the subject by reading books and watching informative videos. It will...

I use a simple strategy. A stop loss of 20 to 50 pips as per the market conditions and I do not touch my trade. Making 3 to 4 trades are the most optimal when following the ideal 4 hour timeframe.

Those traders who have a real and genuine mentor can have a first hand experience of how forex trading actually works. They can learn through practical working and trading with their mentors, which is more efficient than learning from books and articles only. But I do not believe mentorship is...

The most successful and widely used trading currency pair is the EUR/USD. You should consider giving it a shot.

Forex is all about subject knowledge and expertise. If you do not have this, you will be unable to use robots and automated trading systems.

As a beginner, you should focus on two to three trades per week. That is sufficient, but you can do it even once a week if you are not really confident. It all depends on you and how well you can manage your risks, emotions, and losses. Do not trade more than what you have decided because...

I think you should think about your decision again. If it works for you, it is alright, but if it doesn’t, consider waiting for some time and figuring out what you can do. When you make certain decisions, give them time to give you the results you want. Consider it as a game of patience; if you...

Hello trader, you should stop using these indicators and rather strengthen your analysis skills on price chart patterns. Depending on your strategy, you can use EMA, RSI, MA or ATR as required. But I’d suggest prioritising price actions, because it will prove more beneficial than relying solely...