Recent content by audrey collins

I understand that when first entering into forex you'll have a lot of questions and doubts about what kind of account you should start trading with. As a beginner and even after that, I cannot stress enough how important demo account is for testing your strategies. For real/live trading...

Exactly! Whenever we take our first steps into any new thing or experience we will feel a little confused and it will be difficult also. And Forex trading is no exception, more so because it can be a bit more challenging to understand than some other fields. But with persistence and dedication...

The volatility and intricacies of the forex markets are not something that the hesitant and timid traders can handle. So they are weary of putting their money into it and trading. Which in my opinion is fine. If you are not confident and/or knowledgeable enough about forex trading and are scared...

Yep I agree with that too. Demo trading has its uses for experienced traders as well. In that respect I think demo trading is something that will always be useful and helpful throughout our trading lives for trying and testing trade strategies.

Right!! A reliable risk management plan can come to your rescue in tricky times.

Yes a balance between personal life and trading life is very much essential but very difficult to attain and maintain. But still we should keep trying. One day we'll get there. :)

It most definitely isn't easy as I can see that for myself. But hopefully one day I'll have my own success story. I believe it looks like a piece of cake when you hear others' success stories. But the hard work that goes into it is not seen by many.

That's commendable!

Completely agree with you. Demo account trading is of utmost importance for beginners. You can test your strategies here and then move to live trading. However initially invest only small amounts so that in case you end up losing that it won't constrict your finances.

Very much true indeed. Some traders, especially the new ones, look at such high leverages and are instantly impressed. They need to understand that leverage is a double-edged weapon. It can work against you just as easily as it works for you. If you earn huge profits then you can lose just as...

How long have you been in this business?

That's right. If someone thinks there is a shortcut through forex he is seriously mistaken. And blindly copying someone else's strategy is not a good idea. Just because it worked for them does not necessarily mean that it will also work for you .You may earn a few profits here and there but in...

Understand that nothing is permanent in forex or in life. And look beyond forex also as there are so many other beautiful and interesting things. I am not undermining forex here just saying that enjoy all aspects of life. Sometimes in order to earn a few extra dollars traders end up losing much...

I agree. It may sound easier to say that anyone can be a trader but a lot goes into becoming a successful trader. Hard work, consistency and critical thinking are required. Everyone cannot grasp the essence of forex trading and that's okay. It is best to choose what interests you the most.

Absolutely right! It takes a lot of time before one can become a good trader so patience is definitely a must. In forex you execute a trade but it might take a lot of time before the price reaches your target and a lot of the times it might even bring you losses. Don’t be a hasty, restless...