Recent content by Ken Smith

You are absolutely right. Greed and the restlessness of making money quickly do the havoc. From the beginning most people consider trading like gambling. They want to make huge money overnight. They do not follow any risk management policy.

Welcome to the investment world. Are you well prepared? Have you developed any trading strategy? Or you just use random trading strategy? What's you risk reward ratio? Do you have anything specific? Do you follow any risk management system? If you don't have valid answer to all these questions...

Yes you are right. Most traders are impatient and undisciplined. They want to make profit very quickly and that too without proper knowledge and skills. No well defined plan, they just do some random trading. And they are not willing to learn.

Only basics are not enough for consistent profit. Forex is a professional work that requires specific knowledge and skills. That's the reason very few people are successful here. Most people treat forex like gambling. They do random trading. They do not have well defined trading system.

You are right. Most people come here because of the high rewards forex trading offers. But they ignore the basic principle of trading. Trading is a skilled based work. Without skills, nothing is possible. But they want to make make huge profit without being skilled.

No I don't think so. What you are saying that is not greed. No doubt, everyone comes here to make money. Greed is when your expectation and skills do not match. Suppose I am not enough skilled but I want to make unrealistic profit like 5% per day. That's greed. When you know how much skilled you...

Yes it is very important that for learning you should spend a reasonable time. You can't be a good trader without putting enough time and efforts. Trading is all about being knowledgeable and skilled. There is no other secret. So everyone should focus on developing skills.

Learning is the key to success. And practice makes us perfect. Practice means a newbie should do a lot of experiments on demo account to see what works for him. And all these need time. You have to give enough time for learning and research if you want to be a good trader.

Yes most people come here to make huge money overnight. They become greedy when make some profit and they also feel broken when lose money. Without being discipline success in forex Market is not possible. To over this being skilled is the solution.

Yes they are patient. Patience is the most required thing you should be effective in trading. Getting benefit from Forex market isn't too straightforward errand to do. A trader needs to know various things already trading with forex market.

Yes you are absolutely right. There is specific best indicator. It all about what you understand the most and what works for you. By following other's suggested indicator we may make some temporary money but for long term sustainable success we need to find the indicator or system that works for us.

There is another kind of fear. The fear of losing opportunity. All mewbies have this fear. When markets moves a lot in a certain direction, they become restless by thinking they are losing an opportunity of making money. As a result they try to open trade even if their system shows no signal...

Money management is the most important thing in forex trading. Good managment with an average strategy making profit is possible. But poor money management with best strategy resulting in loss. A good trader is a well money management follower. I personally do not use more than 2% of my capital...

The first step of trading is to understand that it needs a lot of time and efforts to be skilled enough. There is no short cuts. If you can't give enough time and effort in learning just leave it. You have to go through the full learning process. Just by following some ready-made strategies...

Demo account is important for learning technical aspects of trading. Most new traders take a huge capital in demo account and open random trades. By doing this they hamper their trading psychology. Demo should be used to experiment different strategies. Demo is the trading laboratory.