Search results

If you want to go from being a novice trader to a professional one, follow these steps: Keep learning and upskilling yourself. Practice makes you perfect, so keep practicing on a demo account. Start small. Do not take too much risk in the beginning. Learn from your mistakes. Never repeat the...

Trading psychology refers to the emotions and mental state that help dictate success or failure in trading securities. Trading psychology represents various aspects of an individual's character and behaviours that influence their trading actions. Discipline and risk-taking are two of the most...

I’ve traded with many different brokers till now but when it comes to spreads I would say turnkeyforex is most suitable. Even during high volatility the spreads remain narrow.

There is no one-size-fits-all answer to this question, as the best way to learn forex trading will vary depending on your individual learning style and preferences. Everybody has their own method of learning forex trading, which is why it’s very hard to find a universal guide. Learn to trade...

You have covered all the relevant points. Thank you for sharing these tips. Emotional trading is the biggest enemy of a trader. We should always try to be rational and make wise decisions in order to trade forex like a professional.

1. Learn, prepare, practice and plan. Make use of the demo account and develop your skills before trading with real money. 2. Stick to your strategy and pay utmost attention to risk management. Do not deviate from your trading plan and take up trades just because they look good. 3...

Everyone has a different time zone they reside in, so accordingly check when the market is the most active and analyse and make moves depending on the volatility and if it's the best choice of time frame for your goal.

A trading plan is necessary to stay in focus of the bigger picture which is to receive consistent profits regularly. It helps you maintain discipline in your decision making skills and balances out any unnecessary data that may flow your way. A trading plan helps minimise risk and creates space...

I have no idea what op is trying to expose. But one thing that I can tell is Forex is no scam until you have good trading skills and knowledge about it.

Newbie traders must focus on their learning. Only your knowledge and skills will help you survive in the market. So your priority should be to gain knowledge and upskill yourself. The Forex market is complicated and difficult to undersatnd. Have patience.

In the foreign exchange market, there is no best or worst time to make a trade. However, the best time can be determined on the basis of currency pairs. When the currency pairs are highly liquid and also offers volatility, traders can choose to trade them at that time.

The traders' skills and knowledge determine how effective a trading strategy is. And picking a trading strategy depends on the trading style.

Yes, trading forex can make you rich, but it requires a significant amount of time, effort, and patience. It is also contingent on your trading efficiency. For that, you'll need the right skills, expertise, and a lot of commitment.

Beginners should focus on learning everything about forex trading. Forex trading is risky and complicated too. One should not directly jump into live trading. It is better to learn first and then start to earn. Work on your skills, and befriend the market. Practice on a demo account until you...

I think the depth of knowledge and putting yourself out there in the midst of risk is part of forex trading. Without proper skills and game, you won’t be able to grasp anything. Robots are limited and can’t perform beyond their programming, but you can.

Thanks for sharing this indicator. I’ll be trying it. I’d like to ask what the indicator depicts? And in what time frames can it be used for effective results?

Can look at turnkeyforex, spreads are pretty low for the major pairs, and min deposit is also just $10, good for beginners.

According to me, a trader should prefer trading when the currency pairs he is trading are highly volatile and liquid. For eg, If a trader is trading EUR/USD, he should prefer trading when the London session and New York sessions overlap, i.e. 8 am to 12 noon GMT.

I totally agree! Maintaining a trading journal is very important for traders as it acts like a reminder for past mistakes and avoids repeating them in future trades.

I believe that having good money management while trading in forex is one of the best mantras for being successful in trading. It helps me to use the funds in a sustainable manner and prevents me from overtrading.