Search results

Some of tips you can consider are: Learn properly before entering into the live market. Learn to analyze and predict the market Practice on a demo account. Find out a good trading partner. Find out a profitable strategy Learn from your mistakes.

Imo, some of the most common mistakes made by traders are: 1. Not analyzing the market properly. 2. Taking decisions based on emotions. 3. Not learning from mistakes.

Scalping can be used by beginners. It is a profitable strategy, and at the same time, it is risky too. It is fast-paced, so beginners must be able to trade in such an environment with the right mindset.

I think relying solely on forex trading robots is a bad idea because trading solely with bots can prove risky too. Bots are good to use if they are used along with manual trading. Bots lack emotions but they are prone to glitches too, so it is crucial to trade with them along with manual trading.

Due to poor risk management and zero planning abilities, many traders lose money. Everyone enters this market with the aim to make good profit. Often, they wish to earn quickly which doesn’t work out due to rapid market shifts. Traders need to develop patience, self motivation and continue to...

Depending on how quick you pick up new information, you should take the time and get familiar with the terms and conditions of the market environment. Give it a few weeks or months to analyse, practice and watch the market movement. Study market psychology so you can make the right choice`s.

Whatever works for you is very subjective. But you have just started to trade using an automated system, so it is better to test it out, first several times and then start trading. But you should never forget the importance of trading manually, too, because automated trading is prone to errors...

It is crucial to know that not every strategy will work forever. The market is constantly changing, so one needs to accept that fact and be flexible to change one’s strategy if it stops working. Of course, backtesting and forward-testing is crucial.

Using only technical analysis won't make you a successful trader. You must possess an advantaged trading technique, sound risk management, and the appropriate trading attitude. It is impossible to succeed in the markets if you are missing any one of these qualities.

Limit the number of orders and your position size, especially, when you are just starting out in the market. The more open orders you have, the more difficult it is to keep track of them all. As a result, the anxiety increases. You can concentrate more on them because there are less of them. To...