If people are able to control their emotions, half of the mistakes made in forex trading can be avoided. It is a good exercise to breathe deeply. It can trigger some calming vibes and help in making better decisions.

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@louiseking If you calculate your risks, you may be able to avoid huge losses even if you make mistakes. Learning before starting forex trading is really helpful. You still make mistakes but because you are following a well researched way of ...

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Beginners are mostly confused about which strategy to use in a situation and which one they should master. While learning, try to practice every strategy. This will not only make you familiar with different strategies but also will help you to ...

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Even if the capital guarantees exist in forex, the return won’t be enough to grow your money and risks would still be the same. So, it won’t be worth it.

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According to this theory, day trading is totally useless. But then why are so many people still interested?

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@FahadMD Apart from these two online platforms, there are videos on youtube by some people who share their experiences in forex trading. Learning from these experienced people can really be helpful.

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Making an account grow is the main motive with which every trader joins forex. Only a few out of those actually get to do it because most of them fail. There are many reasons for their failure. It might be lack of knowledge, lack of confidence, huge ...

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We lose because the market cannot be predicted accurately. If it could be, there would be no point in trading. In order to keep the market running, somebody has to lose. Only if you lose, can somebody make a profit and if you make the profit there ...

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I think there are only a few major ways you can trade. You can do scalping which means doing a huge number of trades a day earning small profits in each trade. You can day trade which means closing all the trades before the end of the day. Swing ...

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Real trading is not something a beginner can jump into directly. There will be high chances of loss if someone does it and the trader might lose interest in forex. So, the demo account comes to rescue here. Traders can make themselves familiar with ...

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It is not easy to be motivated at the time of losing. Keeping oneself motivated is a skill that every newbie should have. I read positive mental attitude books and ‘Think and Grow Rich’ and ‘Success Through A Positive Mental Attitude’ by Napoleon ...

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@Epeolatry Right! I would also advise to keep a realistic and practical approach. Befriend the market.

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Newbies lose due to the unrealistic expectations from forex trading of making huge profits overnight.

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Yes, and I believe everybody should. One can close a position manually but sometimes the volatility is so high that the position doesn't close on time and causes slippage.

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In order to become a profitable trader, you need a good trading strategy. And it is difficult to create one because the market changes all the time. If you keep on learning, you can comprehend the market conditions and trade accordingly. The only ...

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Although 2 years is plenty of time to develop trading skills, there are certain factors that you need to test whether you are ready for full-time trading. Like, how profitable is your trading strategy? What is your win rate? Do you have enough ...

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There could be many reasons for it, including not having a trading plan. But the most common reason is bad trading psychology. New traders want quick results, but that is not possible with trading. Once you know how to control emotions, trading can ...

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In a demo trading account, you trade with fake money, whereas in live trading, you trade with your hard earned money. Another difference to the note is the role of emotions and risk management. In demo trading, most traders ignore these two aspects, ...

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#1 Most new traders become impatient and want quick results. Therefore, they let greed kick in, which backfires and costs them a lot. #2 Poor risk management. Forex trading is more about minimizing losses. Use of stop loss and take profit order are ...

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Extracted Posts — Anything that doesn’t distract me from trading.

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