The high volatility and unpredictability of the market makes it a risky venture. No matter how hard you try you can never fully understand the market. Your silliest of mistakes can make you go bankrupt. It’s important to take forex as a serious ...

why forex is so risky?

The information which is available readily on the internet is everyone’s attempt at understanding the market. However, the market is dynamic in nature, you can’t predict every right move even with all the information available. It’s a zero sum game, ...

Why do we still lose?

New traders often make the mistake of spending a lot of time on demo trading which can set unexpected standards in their minds and makes it hard to adapt to the real market. One should only spend a few months and then shift to a real account as soon ...

New to forum

In this era of the internet, trading schools are not worth your money. You can find everything on YouTube, then there are some really good forums like babypips where you can find full fledged study material. If you want to take a course, you can ...

Trading Schools

@totorothecat Cross hedging is done to manage the risk on your investment. In cross hedging you invest in two distinct assets with positive correlation in the price movements. You take opposing positions in each investment to reduce the risk of ...

Hedging, Anyone doing it successfully?

It’s different for different traders. I don’t think there are traders who lose a series of trades and then suddenly start making it big on upcoming trades. Losses are detrimental for a trader's self-confidence. To be able to rebuild it, they have to ...

Break-even phase before becoming profitable?

@KeenPips My weekends are mainly reserved for reviewing the previous weeks trades and preparing myself up for the fresh week. There's no better time to reflect than weekends, it helped me a lot.

Stop searching for the 'Holy Grail', work on yourself!

@lengendff I rather use it to fund high yielding currency pairs like New Zealand dollar.

GBP/JPY

There are two most common reasons for high spreads: Low liquidity High Volatility

Slippage on MT4 Swaps

To find the best carry trade pairs, differentiate high yielding pairs (with higher interest rate spreads) from low yielding pairs (with low interest rate spreads) and match them to form a pair. NZD/JPY and AUD/JPY are my favorites.

The Best Carry trade Pairs?

@JoshB I’ve learned this the hard way that successful trade is not about how much profit you’ve made through a trade. It’s about how well you followed your plan and whether you received your desired results or not. By results, I definitely do not ...

Real Trading

You can either keep a book if you want to keep a handwritten record, though I prefer to log in all the information in a spreadsheet, as it has many in-built features which makes it easy to keep a record of all my trading activity. Although I write ...

Best free trading journal

As long as there are different currencies, people will always attempt to get benefit of interest rates.

How many more years will Forex exist?

I think it’s man. There are plenty of methods but if one doesn’t know how to apply it properly, it will be a waste of time. A skilled trader can tweak a method and can make necessary modifications to a method to get the best results from it. Man is ...

Method or Man?

After going through this thread I feel like I am the only one who doesn’t listen to music while trading. I can listen to music only when I need to relax, otherwise I just can’t focus on my work if I start playing music.

What kind of music you hear while you trade?

@JotaP Where was your stop loss at? Just curious to know!

A Warning For Aspiring Traders

I think Renko charts are much simpler to read than other charts. Also it’s cleaner because it only involves price movements and no volume or time movements. I think it may be good for scalpers or day traders but for medium or long term traders I ...

My Renko System Discussion

@here2there If the number of winning trades are less then the number of losing trades are also less. It’s just that swing traders don’t take as many trades as day traders. If the volume of trades is larger, it’s natural to overlook the count of ...

It Doesn't Smell Right

Algorithmic trading is the best strategy for traders who can’t dedicate long hours to trading. Simply set the parameters and your system will utilize automated and pre programmed trading instructions to pick all the trades that come under those ...

algorithmic trading

If we say that 90% of the traders fail in forex, how can it be a zero sum game. A zero sum game is where for every trader who makes a profit, there’s another forex trader who loses an equivalent amount. However in forex traders lose more than they ...

Forex - A negative sum game for losers