Recent content by Accretion

Very well explained tips for risk management. For strategies, I would like to add that do not expect someone else's strategy to work for you right away. You will either have to spend some time trading with it or modify it according to your style to gain profits from it.

Two simple ingredients for success in forex trading are patience and discipline. The trader needs to be patient while waiting to be able to make profits consistently. Being disciplined in sticking to a set of rules is going to be helpful for a trader seeking success.

@Zeitgeist Hey, I am looking for low spreads and easy withdrawals. Do you think finprotrading is a good option for me? I am testing two other brokers also but would love to add more brokers to my list for better decision.

Another important point worth mentioning is an attitude of gratitude. Focusing more on the profit that you already have could make it easier to avoid greed. Just think about what all you have achieved and what can be done based on those achievements.

@MarnieLarge I agree. Scalping can be profitable, but at the same time, it is very risky. If you don't have good risk management and a quick exit strategy, then scalping isn't good for you. Scalpers should also be aware of different types of indicators that traders use to predict the price...

A pro trader is someone who has expertise in fundamental and technical analysis and trading psychology. Proficiency in trading psychology is important because most traders fail because they fail to manage their emotions during trading. Besides that, a pro trader understands the risk and takes...

That’s right, new traders will have to study trading chart patterns in order to understand their meaning. There are several websites and videos available online where experts explain different types of charts and what they indicate about the market.

Technical analysis plays a very crucial role in forex trading. With technical analysis, a trader can get an idea of future price movements along with developing and executing short-term trading strategies.

Beginners are most likely to lose in the first few months of forex trading despite spending time practising on demo accounts. But, they can minimise their losses by trading on a micro account and using effective risk management strategies.

Now that is a great post on spreads, which every novice trader should read. Spreads are one of the most important factors that traders consider when choosing a forex broker. The lower the spreads are, the more profits traders will get to make.

Choosing the right entry and exit point is crucial, as it can help forex traders get better returns from their respective trades. Your detailed post will definitely help traders determine the right entry and exit points.

@Zeitgeist Yeah, that’s right! Using ‘Stop Loss’ is so important in forex trading to prevent not just margin calls, but heavy losses that could empty your capital.

Honestly, copy trading is not the best way to trade if you are serious about attaining the long-term benefits of being a forex trader. It has some pros for new traders. Copy trading can help them learn and earn. Traders can utilise copy trading to understand how strategies work and then create...

From greed, happiness, sadness, fear, to anxiety, traders experience all sorts of emotions when they trade. Avoiding them is a must. I use strict trading rules that help me stay focused.

With all these perks, forex can literally be anyone’s day job. But all of this is only possible if you are ready to work for it.