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Having multiple strategies is not the same thing as having a plan B. A plan B means that when things go wrong then you make a switch and this reeks of the fact that the switch is a less pleasant...

You traded with 1 dollar and you did not lose it? That is quite remarkable. I have traded with different little amounts but I cannot really remember which was the first that I used. I have traded...

As a millioniare, I will trade forex still. Money is never enough so from millioniare in forex, the next target will be to become billioniare in forex. Forex trading is loved by many as a means of...

It is true you say about patience, and it should be mixed with proper analysis of the forex market. If you are patient and still end up making the wrong move, then the aim is defeated. Many traders...

No matter the size of the lot or contract that you are trading, a stop loss is important. Stopping a floating minus of a potential 100 pips at 40 pips is really a lot of sense. What I mean is that...

Over leverage is really a problem in forex trading and many newbies in forex tend to fall into this problem. Due to overconfidence and the hope to earn quick profits they select large leverages and...

Candlestick charts is good for me because they can show price action as it happen. They also act like indicator for me so I can predict price movement on candlestick combined with my other indicators.

Experience can go a long way to show us how to make profit if we learn from the experience. If for instance we get a loss, that is an experience, if we do not find out why the loss came then we can...

I had a loss last night and I did not kill myself. Instead, I went to sleep and woke up feeling better. I am not trading today but I am reviewing the reason for the loss and plotting out plans on...

A profit of $100 in one trade is big profit and I will make sure to withdraw it first. Of course if my trading account is bigger like $1000 then profit of $100 will not be a big deal so I will take...

High leverage on small account leads to high loss. High loss is relative depending on equity. If you lose $200 on a $10,000 it is not not high loss but when you lose $200 on a $600 account it is...

I feel it is greed and overtrading combined together and newbies can take a cue from this and not over trade. The problem is not that you did not withdraw, but the problem is that over confidence...

Spend as much time that suits you. Everyone does not have the same learning and assimilation capabilities so what might take one person 3 months to learn might take another just 1 month. So if you...

Forex trading has a good element of gambling in it. Sometimes when we take trades we do so without really knowing what the outcome will be but based on chance of favour. When we trade like this -...

I normally use the previous 4hr swing low or swing high to take my stop loss target as long as it is not more than 50 pips. If the candle swing low / high is more than 50 pips, then I may not take...

I think that using a line chart will help you see the true trend. Use a Line chart with the D1 timeframe and you will see the price direction for the larger period of time. You will also be able to...

Daily profit can be achieved if the trader is a good trader with discipline. There are strategies that can give a trader profit on a daily level but will require concentration to observe the...

I am a part time trader and as a part time trader, I trade with the mind of going into full time forex trading. It takes knowledge, experience and consistency to be a full time trader so I will get...

Large capital is not important in forex if you are a part time trader. The only thing you need is a good strategy and a high leverage. With a little investment of $70 and a good strategy you can...

As traders, our basic tools are: our strategy, a stop loss and take profit. If you set a trade and market moves in the opposite direction, leave it. When it takes out your stop loss, take it as a...