Recent content by Forexrider

Certainly having the trading education is the main sole important concept which each and every aspirant traders should equip themselves with, without which making consistent gains in the forex market is highly impossible.

This is really good way of testing ourselves and our will power to stick to the trading plan. Most of us lose because we deviate from our trading plan and make instant decisions only to lose money. Thus to be consistent profitable trader implementing this way testing with 25 trades is worthwhile.

Most of the successful forex traders have a trading plan, thus having a trading plan and sticking to it is the only go for any traders to make some good amount of money in this highly potential forex trading business. I am still at the verge of developing a trading plan and sticking to it strictly.

If you are a beginner it is always best to first start developing the trading strategy which will give consistent profits, planning on certain amount of money and reaching the same will become difficult initially.

Trading with one brokerage firm is more than enough for all traders with less than $100000, may be when the amount exceeds this range, its time to split the money between the brokers so that you would not be hurt if there was any loss due to unforeseen events.

I have never tried a trading bot, because i just feel that they are very complex may be because iam new at handling and setting up it. Due to the fear of managing one i have never bothered to even try a trading bot instead prefer to trade manually.

Only if the trader can improve their attitude towards trading business will it be possible for the traders to make some consistent income in the forex market. Most of us fail because of our trading psychology which involves making quick money in shortest time period, ultimately only to lose more...

Removing emotions from the trading business is the most difficult part and it is possible only for the traders who have very strong mindset of surviving the forex market for long so that consistent money can be made.

The most important thing that a trader should never do is never overtrade, never over leverage, all of these will only ruin our trading account and recovery time takes a lot of effort and considerable time.

Handling the trading losses is the most difficult part of the forex trading business, since as soon as we lose there are very high chances of being felt demotivated and a sense of failure with trading business due to lack of risk and money management.

I have lost some good amount of money into the forex market and whenever i lose money i am very much upset and keep planning for the next time trades to manage my greed. :(

Right now the amount of money i have is really very low comparatively so i just trade in one broker. But i have a dream that when i grow my account i will spread them across brokers. I am scared to maintain more than $10000 in one broker, does anyone of you have more than this in one broker ?

Everybody knows that overtrading is dangerous but the greediness to make more and more money pushes the traders towards overtrading. I myself have overtraded so many times only to bust my account ultimately :( This time i have taken a strong stance against overtrading and i hope to follow it :D

Now that there are many helpful books for a safe trading in the forex market, we are aware of the risk factors to be avoided during trading. But the greediness takes the upper hand and only leads to further losses, only when trader can have better control can they win in the trading business.

Well starting with a demo account is what the most expert traders always advise for the new traders and its worth to listen to their advise. Because by this way we get to feel the forex market and know its ups and downs. And later starting with the money which we can afford to lose is good.