Copy trading is not as beneficial as it is claimed to be. It is a good start for newbie traders until they get used to the forex market movements and get an understanding of strategies. But no trader can survive on copy trading alone and should learn to be independent, finding a strategy that...
This post will be a great starting point for newbie traders to get fundamental knowledge about the forex market. In order to grow as a trader your foundation should be strong and that can be built only with knowledge. Thank you for sharing this as it would help many beginners taking their first...
That was a good piece of information for beginners. You should always enter the market with realistic and attainable goals. There is no shortcut to success and any shortcut would only lead you to a disaster. Be patient and focus on learning at your own pace. All you need is to work hard and...
You will have to do your own analysis and research to build a profitable trading strategy. You can also use a simulator to test your strategy in different conditions to be sure that it is the perfect strategy for you.
Forums are like communities where all like-minded people communicate through ideas. Forex forums work in the same way. For a beginner or someone experienced, these forums can be extremely beneficial. Some of them I can list here-
Forums provide you with the latest news about trading and...
Forex trading is risky and complicated due to the high volatility. It is the nature of the market which is unavoidable and a trader should be able to cope with this uncertainty in order to achieve success. Always consider using a strong risk management strategy.
I believe panicking as a result of market volatility is more frequent and leads to poor trading decisions. They do not stick to their trading strategy and frequently lose money as a result.
Traders who want to earn from the foreign exchange market must be aware of the risks. Risk management is critical in Forex trading if traders wish to avoid large losses in their accounts. This will help to secure your hard-earned cash and give you the confidence to trade.
This was helpful, thank you! Especially the part where you insisted on focussing on facts and not emotions. Traders should remind themselves of this very often so they can act logicvally most of the time and take informed decisions.
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