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Forex is profitable ?
in
General
Aug 01, 2019 at 10:22
No doubt forex is profitable, but it also comes with various risks. Now, the profits or losses you make depend on how well you are able to manage these inherent risks. It matters how wisely you trade in forex and what type of trading plan you follow.
How to select the Best Currency Pair for Investment?
in
New Traders
Jul 31, 2019 at 09:18
To select a good currency pair, it is very important that you analyze all the charts carefully and also check for all the market updates. According to the market situation and your portfolio requirements, choose currency pairs that suit you. Don’t follow the crowd and do try to pair strong currencies against the weak ones. Then run technical analysis on the currency pairs you have shortlisted to finally reach to a decision.
Intraday Trading is gambling
in
New Traders
Jul 30, 2019 at 10:20
I don’t think that intraday trading and gambling are similar. The research and practice that goes into becoming an intraday trader, separates one from being just a gambler. The latter is basically involved in betting in situations. Day traders are much more professional and disciplined than people involved in gambling. Gambling gives you no career, but people today are making huge successful careers out of trading. So yes, I don’t consider both to be similar.
New trader trying to put a trading plan together
in
New Traders
Jul 25, 2019 at 10:25
New traders should point some realistic trading goals for themselves first and then set their risk and budget constraints. You must also decide on when and where to entry and exit as that is really important. With a plan in mind, before you actually start to trade, go through the market conditions and then start. And once a plan is created, do not waver much. Stick to that plan as much as possible.
having a losses
in
General
Jul 24, 2019 at 12:18
According to me, being able to take losses in a positive manner is a prerequisite of becoming a successful trader. Having losses will only take you through your mistakes as a trader and eventually you will learn and start to make good profits. Just be sure that you exit a position giving you losses as soon as possible.
Best way to avoid the news.
in
General
Jul 23, 2019 at 08:59
I do agree with this. Watching too much news and going behind economic calendars all the time, destructs your trading routine. Going too high on news takes away your objectivity and logic. You are just keen to mould your trading plans according to the news then, not taking any practical decisions based on your own trading knowledge, which can really prove dangerous as far as your trading returns are concerned.
Time Management
in
New Traders
Jul 22, 2019 at 05:35
Managing time is an essential element of successful trading. It is, however, not easy to be in time with respect to various trading activities. To manage your time well, the first thing you need to do is set some goals, that too, to be achieved in a certain period of time. Doing this will help you in managing your time in a better way. Then, learn to prioritize your activities, that is, do the most important tasks first and then the less important ones later. Also, try to have breaks during trading as that will help you to have greater productivity. To be completely into trading, without losin...
How to choose a regulated forex broker?
in
General
Jul 22, 2019 at 05:34
Before starting to trade with a forex broker, be sure to check with all the account details of the same. The amount of leverage and margin that they offer, the commission they charge, etc. Be very careful about the spread of the broker, because they often engage into widening the spreads to increase their own earnings. Your choice of broker can also depend upon your budget as every broker comes with an initial deposit requirement. Also, screen the forex brokers on the basis of their currency pairs, trading platforms, ease of deposit and withdrawal, etc. Most important choose a broker that prov...
Type of Traders
in
New Traders
Jul 19, 2019 at 06:40
There are various kinds of traders prevalent in the market. I will just take you through a quick gist of all these traders. Some traders can be differentiated on the basis of their position in the market. 1.Scalpers – they trade for an extremely short period f time, making profits over the short term price fluctuations. They make profits by making multiple trades, each giving them a small profit share.2.Day Traders – they aim for short trades and focus on immediate trends rather than long term trends. They basically earn profits on volumes.3.Swing Traders – these are the trad...
Advices and Tips on Commodity Trading
in
General
Jul 18, 2019 at 06:09
You can start trading with commodities once you have the basic knowledge about stock markets. Here, I have given some useful tips that would assist you in trading in commodities:-1.Before you begin to trade, grab the required knowledge about the market.2.Choose the right kind of commodity and broker depending upon your constraints like risk, budget, etc.3.Always start investing with a low dose and gradually increase it. don’t start with a big budget.4.Try to diversify your portfolio. Never stick to trade in only one kind of commodity.5.Always stay up-to-date with the market trends and th...
1:200 leverage
in
New Traders
Jul 17, 2019 at 09:35
Leverage is basically an investment technique of using borrowed funds to trade. With the help of leverage, you can trade to a much bigger extent, even if your own budget is less.1:200 leverage means that for every $1 in your account, you can play a trade of $200. This will be provide to you as a loan from the broker. Be cautious with using a leverage as it not only gives you extra funds to trade but also has the power to take you to immense losses.
Trading Equity Curve
in
Experienced Traders
Jul 16, 2019 at 08:00
Equity curve basically shows you the performance of a trading account, with positive and negative slopes. The positive one shows profits and the negative slope indicates losses. Equity curve looks somewhat similar to a stock chart. It is a very reliable and quick way to know about how your particular strategy has worked. Also, with the help of equity curves you can relate and compare different strategies and their risk and returns.
What do forex brokers rely on to make money?
in
General
Jul 13, 2019 at 06:18
A forex broker has the responsibility of carrying out trade on behalf of his client trader. He does the job of executing the buy and sell orders for the trader concerned. Forex brokers normally operate in an OTC (over-the-counter) market so that very less rules and regulations are binding on them and they can work according to their will.Now, how does the forex broker make money? These brokers charge their clients a basic commission for each trade or spread. Broker’s spread is basically the gap between the ask and the bid price of the transaction. There is no bondage on the broker to cha...
Stop Loss
in
General
Jul 12, 2019 at 10:50
Stop loss is an amazing order type that helps you to safeguard yourself against potential losses from trade. It lets the buyer buy or sell a stock automatically, once a particular set price is achieved. It is a way to limit the trader’s losses. For instance, if you have applied a stop loss at about 15% below the buying price, then your loss is limited to 15%. you cannot incur a loss more than 15%.Setting up a stop loss while trading has both advantages and disadvantages.ADVANTAGES • you don't have to keep a constant watch on your stock’s position. • You are saf...
High Leverage
in
General
Jul 11, 2019 at 10:39
Before going in depth about high leverage, it is essential to understand what leverage is. Leverage is a kind of concept that gives you the choice of borrowing a certain amount from your broker to expand the boundary of your investment budget.Leverage can be high or low, depending upon the trader’s choice. However, leverage is a double-edged sword. If it can multiply your positive returns, then it can also increase your losses to manifold. Taking a very high leverage will cost you to handle a lot of risk too. If you do not screen the markets properly before investing, you can incur heavy...
Demo trading
in
New Traders
Jul 11, 2019 at 06:16
Demo trading is a perfect way to start trading for beginners. This is done through demo accounts. Demo trading contains dummy funds, to enable the trader learn about how to trade and the usage of the trading platforms before setting up a real account for himself. It is, therefore, risk-free trading basically.Trying demo trading in the initial stages of your trading routine, helps you master the specific details of trading. You eventually learn how to deal with the various fluctuations in the market and test your strategizing potential. Using demo trading, it is easier to try your hand at how y...
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