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With tight spreads, you can make a huge difference in overall profits. So, go for a broker that has tight spreads on most currency pairs. Also, try making small withdrawals with your broker to see how easily they let you withdraw your money.

Looking for a low spread broker with low minimum deposit. Please suggest good options.

You must always go with a broker that offers fast and easy deposits and withdrawals. Issues with transactions affect your peace of mind.

There are no specifications nor a general ideal notion as to how many trades you should perform in a day. As a beginner, it is advisable not to trade in a haste. Progress slowly, with both the number of times you are trading, as well as the trading capital.

The best strategy for you is something you can execute well. Others cannot help you with that. You have to find what works for you all by yourself. Sometimes I feel finding a strategy is like finding a soul mate. Lots of trial and error and if you get stuck with the wrong one just break up and...

Happy to know you are doing well as a forex trader. It is indeed a great feeling when your hard work pays off. Keep up the good work.

As a newbie, every broker will seem to be a great choice because they are so good at advertising their services. You just have to be careful of the scams. Consider studying the basics so that you can differentiate the brokers on the basis of what they offer and make your choice as per your...

The need for a plan is directly proportional to profits. To trade in the right direction with minimum losses and risks, we need a full proof plan that must include risk management strategies.

Using EA is a good decision for newbies if he or she is unable to make an understanding of the market and patterns. But before taking assistance from EA, they should try to solve problems with knowledge and experience because complete dependency on EAs can be dangerous and can lead to losses.

The primary motive of trading forex is profit. But, why only forex, not other trading platforms? Answers to this question are easy accessible, no limitation of opening and closing time, high volatility, high leverage, etc., which make it more favourable.

Personally, for me trading is all about knowledge. Robots may help us in technical analyses, and reading patterns of historical data, but we have to build strategies and plans for trading with our knowledge. Also, robots are unable to make instant decisions if required.

Forex is a huge market and psychology has a huge role to play in it. The forex market is expected to be even more volatile and erratic because of the fact that it's a 24/7 market and it allows traders to react instantaneously to any given situation.So,traders' mindset and their stress management...

Forex trading is a field where both automated and manual trading have its own advantages. The automated trading reduces the number of errors and enhances the speed of trading as well. But unlike manual trading, automated trading does not have the intuition, experience and the ability to make...

Risk management is the best way of minimising the risks. The forex market being highly volatile makes it mandatory to use risk managements like stop-loss or trailing stop-loss. Traders also prefer placing limit orders to avoid slippage which is also the result of volatility in the market.

The best advice I can give you is to never make decisions recklessly about trading live. Good things take time, and your trading career will be no exception. Do the right thing and stay away from anything that can hamper your progress.

Not learning properly before they trade. Overlooking the importance of setting stop loss. Overtrading thinking that this will get them more profits.

To be a successful forex trader, you must have the necessary skills and be willing to put in the necessary effort. You can't just put your money in and expect to get a return. You must put in constant effort, understand the changing market, and make the best selections possible.

Some forex traders, mostly the new ones, get too influenced by what traders on social media tell them. As they lack knowledge, they even take some extreme steps that lead to losses. They need to understand that all that they see on social media is not true and if they want a long, profitable...

I believe that a trader trades the best when he sets his own limits. Where most traders follow some other trader, it’s best to pave your own way. You may take a few losses in the beginning but when you have gone through consequences of doing something, you know how to do it better.