Gee Dee

In the forex market, many traders are not able to earn money as they desire to. There can be many underlying reasons. Somehow one of the major facts that is arisen now a day is the wrong selection of broker. Thereby; I have conducted proper due diligence before start trading with my broker ForexChief. This licensed broker is providing me well organized; technology developed trading platform with all feasible trading services.

A foreign currency trader needs to give proper concentration on mutually the entry and exit price of a currency pair. No matter when a forex trader enters the market, he can’t ensure maximum profit until closes his trade on the appropriate time. Even experienced traders also face loss due to ignorance on this matter. A winning trade is a function of many things: right entry, appropriate closing, right SL, etc.

There are some unsaid rules prevailing in the forex market how a foreign currency trader should think and act in response that can lead him a successful trading journey ahead. A forex trader can overcome emotional roller coaster journey if he can control brains in the majority of the cases. However, the controlling of brain is not an easy task since we can’t actually understand how the brain controls us.

In case of day trading; a trader gives concentration on currency pair position for the whole day. And a trader conducts analysis; follow the market movements for an entire day and closes the position at the end of the day. Thereby foreign currency traders who are trying to adopt day trading should remember that day trading either ends with profit or loss. He has to deal this fact very consciously.

There are often nerve issues related to the live trading when compared to trading with demo trading accounts. The reason can be many. Traders feel free when they are trying to practice trading with the demo trading accounts. In case of live trading there is a greater difficulty to handle emotions or accept failures. But practice with demos can help forex traders gradually to handle live accounts in efficient ways.

Profit generation is one of the basic objectives of any currency exchange trader. Again; in any financial market making profit once or twice won't be that problem for any trader. But in order to maintain the stream of profit a trader needs to continue his learning. And for this reason; my broker ForexChief is always encouraging me to continue my education and it is ensuring me full time professional guidance through its international team of experts.

Those who are taking trading as profession has to be very cautious since they have to live up from the earnings come from forex trading. And forex trading is closely related to the changes in currency values and consequently closely related to the changes in world as well as various domestic economies. So, a trader should work with reliable trading platform and he should also adopt proper trading methods if he wants to ensure a comfortable trading life.

There is no certain comparison between the advantages of stock and forex market. The reason behind this is both the markets have some infrastructural benefits while at the same time, have some difficulties for the traders. It is the decision of a trader which market he will choose among these 2 markets or he will go for both. From my point of view, the traders who do not want to involve in strict regulations and wants freedom can go for forex.

Thanks for sharing your views. Measuring performance is always essential for ensuring successful trading journey. A trader should try to represent his performance in numerical figure by maintaining trading journals over specified period of time. And when a trader maintains journal and follows economic way he can actually judge how to improve his trading skills. Again, losses have to be managed properly by the currency exchange traders otherwise trading journey can be actually difficult.

Forex is a decentralized market place where there is no specific regulatory authority to ensure safety though proper monitoring like any other centralized market place. A trader needs to select proper yet a regulated broker that can ensure safety of funds. Capital preservation is the first priority of the traders since we all are here to add money not to lose our money. So it is wise to trade with a regulated, experienced broker that can ensure safe trading always.

Today thousands of online brokerage houses are readily available to provide intermediary services to the currency exchange traders. And it is the responsibility of a trader to select most appropriate broker for him that will provide him all necessary facilities to achieve his trading goals. I have chosen ForexChief a licensed broker and it is ensuring me well-organized trading accounts, both live and demos to help me out all in one.

Whenever we are dealing with forex trading we must consider both the probabilities of win and lose. No matter how much money you are earning in this world market place no one will guarantee that you will never loss. So, each foreign currency trader must know how to deal with the losses. In order to handle losses carefully, a trader should accept the fact that losses are inevitable parts of forex trading journey.

Traders are not comparable. Here in the forex market traders are not obviously similar. If a trader tries to adopt conservative trading approach or tries to take smaller risks he is not very much wrong actually. Each forex trader will require sufficient trading skills to make right decisions. But following others can’t help a forex trader fully; he should adopt trading strategy as per his trading requirements. Otherwise it won’t help a retail trader to achieve his success.

It is a relative question to answer actually since it is based on the person who is willing to trade in the forex market. there is no doubt that when a trader select various online businesses he may want some freedom and better environment of work that he may not be able to enjoy in the stiff office work. Nevertheless, I think forex is one of the best online businesses so far.

I don’t agree with you. Various potential investment fields are becoming popular now a day. A trader can make investment in currencies, equities, bonds as well as in the derivative products also. I personally think that binary options are more risky than traditional forex since in case of binary trading a trader needs to take decisions fully based on intuitions and once his prediction goes wrong he will lose the whole money.

Without selecting an appropriate broker a trader can face consequences in the forex market. So, I have chosen ForexChief and for me it is the best broker. As a risk adverse investor, I require full protection of my funds. And this broker is ensuring me capital preservation in every situation. It is also providing me lowest zero spread; good 1:400 leverage; re-quote and slippage free timely and fastest trade executions, 24 hours customer care support and expert assistance.

Forex is no longer the simple currency translation where a trader will get the chances to earn money very easily. A trader will require sufficient trading skills and knowledge to analyze the potential of each trade. Without analyzing all important a trader won’t be able to take decision wisely. So, for the new babies, my suggestion is: try to acquire adequate trading knowledge with the use of demos before start trading with real money.

Making trading decision is not always very easy for the currency exchange traders. A forex trader needs to analyze all aspects, potential of trade, market behaviors, trends in the market, etc. all should have to be considered before engaging in trade executions since forex is a financial market which is very much volatile and uncertain in nature. However, in every situation, a trader will require proper analytical approach to evaluate the investment potential so that he can engage in profitable trading always.

If you want to try your luck in the forex market without acquiring sufficient trading knowledge and proficiency you may find forex as gambling. Again, no one can ensure good profit here with good broker. So the first thing is: you should practice with the demo trading accounts of a regulated, reliable and experienced broker that provides trading facilities best suited to your needs so that you can continue your journey with that broker in case of live trading accounts.

Trading strategy can act as a guideline so that a trader can fully concentrate on his trading objectives. No matter whether you are trying your luck with mini accounts or standard accounts; a good trading strategy can help you to be more focused on the achievement of your objectives. Again; traders have various strategic options available for them; scalping; swing; various long term trading strategies;. So while selecting trading strategy a foreign currency trader will need to think about the achievement of the trading objectives.

Broker is the medium that helps a currency exchange trader to reach the forex market effectively and most importantly in the less expensive way. Being a scalper, I rate my broker ForexChief as a highly recommended broker for scalper and any retail-small scale trader. It is offering me narrow spread; good leverage of 1:400; 24 hours customer care support, re-quote and slippage free fastest and timely trade executions along with full safety of funds through regulations.

I don’t know about this broker. However, it is true that now a day, various crypto currencies have achieved the interest of people and people around the world are making investment in various crypto currencies. But I have noticed one fact that with the increasing demand of crypto a greater liquidity issue arises. Even, making investment in crypto is now not so safe as before. Many crypto currencies have decreased in values significantly.

Forex is a zero sum game. There is no specific guarantee that successful traders or experienced traders won’t lose. Thereby if we think that after spending many years, we won’t face any loss; it is entirely a wrong idea. But yes, it is true that we should know it very well that how we can handle our losses to bounce back to our normal trading life. A smart trader should forget the loss but remember the lessons from it.

Trading is somehow not so easy task today. Forex trading is not only exchanging one currency for other currency. Traders can't ensure profitable journey from random trade executions. Rather traders will require thinking about proper analysis; they should consider the spread; potential pips; flexibility to trade; liquidity potential of the currencies, etc. When we try to trade with uncommon pairs we face the problem of high uncertainty along with higher spread.

Without perfect trading strategy forex can be extremely difficult. Thanks for sharing your views on trading strategies but I think it is somehow very limited in application. Why we should retain our opportunities in EUR/USD? I think major currency pairs are good options for the risk adverse investors. If we want to keep our trading strategies simple as possible we can try major currency pairs for it. And there are many lucrative pairs like JPY/USD, GBP/USD, etc apart from EUR/USD.