Recent content by Parabola

I always look for these 2 things - spreads and commissions - before I start using a broker. No active trader would spend more on spreads and commission as this would significantly impact the profit.

Try their demo trading platform to get more clearer idea about their trading environment and conditions offered.

Apart from trading costs also look for the responsiveness of the customer support.

If you research around, I am sure that you will find many great options. But I recommend making a few trades with them to see if they really offer such tight spreads or not.

You are not bound to use a particular amount to trade. Your risks can be in accordance with your affordability.

Copy trading is a great strategy for those who have okay-ish knowledge of forex trading, but don’t want to risk their money based on that limited knowledge. Copy trading provides them with a great opportunity to increase their chances of making profitable trades by copying trades of professional...

What matters is how comfortable and safe you feel while trading with a broker. As you won’t understand how it feels to trade with a broker until you trade with them, it’s best to keep aside an amount that you can risk to test.

I agree with your point! And moreover it is important that a trader gains proper trading skills to trade on his own so as to be successful in the long run.

Using proper risk management is very important for a trader to avoid unnecessary losses. Newbie should focus on protecting his trading account first rather than on making profits.

New traders should follow their trading plans strictly and should not change their position frequently.

Always choose a regulated broker. You don’t want to be a part of a situation where you deposited a heavy sum with a broker and the next day, the broker is shut and you have no idea how to recover your funds.

Calculating and determining the position size also helps in controlling the risks and maximising the profits.

A tip for all new traders would be to be patient because the forex market is quite volatile, so prices may go up and down rapidly, but you will have to control your emotions or else, you'll make mistakes and lose big.

To benefit from forex trading, you must come fully prepared and by that, I mean, having a deep knowledge of all the concepts of forex and enough practice on a demo account.

All these stories are incredible, and there is one common thing between them, their love and passion for forex trading. Only passionate forex traders can be successful for a long time. Rest all would come, trade, lose and leave.