Recent content by Wisecrack

The forex market is extremely volatile which makes it hard to predict precisely. One needs to be really well versed with their strategies and the type of analysis they want to prefer in order to spot potential opportunities and actually coming out of it with profits.

Drawdown is a metric that helps forex traders assess the account balance volatility. In other words, it will tell you how much and how far your account equity will drop after a losing streak. Drawdown is also a good metric to evaluate the performance of a trading system.

Finprotrading is good, commission is a dollar per side per lot.

True! Scalping is indeed risky but a potential earning trading strategy. To scalp successfully, a trader needs to be really quick in making trading decisions and needs to have good trading psychology.

Moving average is one of my favourite strategies. Calculating the moving average helps to smooth out the price data by creating a constantly updated average price. By calculating the moving average, the impacts of random, short-term fluctuations on the price over a specified time frame are...

Risk management is very important in trading and the best way to achieve this is to do all the necessary calculations needed like the risk reward ratio, then set the appropriate entry and exit points and set stop loss. One needs to stick to the trading plan and do not change position size.

Emotions play pivotal roles during trading as it is inseparable from a human mind. It is practically impossible to switch off emotions and then trade. So in order to make trading decisions backed by well-thought and carefully analysed strategies, it is essential to learn how to manage emotions...

In the forex market, spread is calculated as the difference between the bid price and the ask price. It is very important for beginners to know how to calculate it, as it determines if the cost in each transaction is appropriate for their trading styles. If beginners incur higher spreads, it...

Thanks for sharing the list. I found "Forex trading A-Z" by Udemy very helpful.

Forex trading is not that expensive. Newcomers who opt for certain trading courses or buy trading books might spend some bucks. Or the traders when trading without proper learning and knowledge tend to lose more and make trading expensive.

There is no point in trading to recover your losses. A smart trader will not remember his/her losses and move on to other trades where he/she can think of getting success. You need to do the same. However, you can learn from your mistakes and implement stop-loss smartly in your trades to prevent...

A useful tip I would like to give to all the newbies is to start slow and with caution. Since forex is a very volatile market, new traders need to risk small capital and use risk management strategies to limit their losses. Also, traders need to control their emotions because they can play...

A trader can have a profitable trade if he/she knows the right entry and exit points and appropriate placement of take profit and stop loss. Such information can only be obtained through in-depth knowledge and experience in forex trading.

All the points you've mentioned are extremely useful for traders, but I really liked the 'Entry & Exit' point. I feel if the trader is able to identify the right entry and exit points, then the chances of having a profitable trade increase significantly.

$100 is a decent amount for a beginner to start with forex trading, but he/she shouldn't have high expectations with those $100. Keep your focus on learning and practicing forex trading to gain enough confidence to risk larger capital in potential trades.