Recent content by Waryangez

It’s strange as well as funny that we enter the market as a trader to earn money but we have to focus on everything else rather than money.

Very well said! Knowledge doesn’t have any value unless you put it into practice. As it is believed, Knowledge is not power, implementation is power.

Nothing can actually guarantee risk management but you can definitely minimize your losses with hedging strategies. CFDs are flexible and require small initial deposits which makes them quite suitable for hedging.

Know that you won’t be able to make money on the first day of trading and neither is it going to be easy. You have to become a student and take part in this ever continuous learning process. Start small and mark up your way from there.

One of the best ways to improve your trading psychology is to develop your skills. When you are confident you can naturally keep a positive mindset.

It’s a great platform overall. You get to share your views and learn about so many new things but I don’t find the community on forexfactory very polite. I comment rarely but love to read about some nice topics.

Traders should primarily focus on macroeconomics news which can include changes in interest rates, inflation, unemployment levels or retail income of a specific country. These kinds of news have a significant impact on the market sentiment and adding it to technical and fundamental approaches...

Keep learning and practicing, this is the only way to succeed in trading. I can see how people here are emphasising on demo trading more than anything. No doubt demo trading is useful for traders to test a brokerage platform and to get a feel of trading. However, if you’ve never traded on a live...

I know it will be hard for many traders to swallow what I am going to say but I truly believe that rather than doing any good, demo trading for too long can actually harm a trader. The reason is, no matter how hard you try you can never treat a demo account as a live account. While demo trading...

To be honest, if you are concerned about these numbers so much then you will not be able to achieve anything. Shift your mindset from earning to learning if you really want to get something out of it.

There are plenty of educational resources to learn forex trading but the best knowledge comes through implementing your skills practically which can only be done by paper trading or opening a micro account. Another best source is to listen to podcasts or watch talk shows where you get the...

Although I personally prefer to use stop-loss, but I think there are ways to make trading viable without a stop-loss order. For that you should be able to conduct a thorough fundamental and technical analysis to improve the percentage of winning trades. Another popular way is to utilize hedging...

Trailing stops are helpful to avoid huge losses on your trades.

Any mistake in trading can cost you a lot. The first mistake to avoid is leaving out the practice on a demo account. Further, don’t miss out on any opportunity of learning. Despite the fact that you are gaining confidence on your trading skills, always evaluate the market before making a move...

I had this experience when I was a beginner. I was practicing and learning trading at that time. It’s totally fine to be in such a situation at the starting. These situations only make you understand how to keep everything in proportion with proper management.