Recent content by rickhobbsonce

Two suggestions: first is copy trading, and second one is PAMM account. In both cases you will get someone with knowledge to trade on your behalf. You can look for brokers that offer copy trading/PAMM accounts on their platform. Fxview has both, give those a try if you are interested.

My answer would be "that depends." Robots are useful and make trading less exhausting. However, we are talking about a market that changes drastically in seconds. Can robots beat human analysis?

You can't become a successful trader without a risk management strategy. Do not chase rewards unless you can't protect your existing capital. Moreover, beware of your mindset and psychology. Keep a tab on these two things. You will definitely grow as a trader!

Patience and discipline are the true virtue of trading and without them a trader can't be successful in the long run.

Becoming a forex trader is not a day's work. You need to be consistent to see the results. Start with covering basic concepts and applying them in a demo account. Learn, implement, and analyse your trades. Do this consistently. You will be ready to trade live after a few months

I have consumed a lot of meat in my life. But ever since I have replaced it with a plant-based diet, I feel healthier than I did my entire life.

Yes, forex trading is hard due to the ever changing market conditions resulting in high volatility. Traders need to be very careful while trading.

Having the right trading psychology is very important. Trader may have a very strong trading strategy but if he has no control over his/her emotions, S/he is unable to make the right trading decision.

I may or may not have made money with every trade I executed. But I am glad that I Learnt major lessons of trading with my losses. So, I believe I can say that I have been profitable since the day I executed my first trade.

For most traders, it is an everyday affair. If they keep thinking about the lost money, they may not be able to find ways to make more money. You never know if you will recover your lost money through your profits. A trader is needed to keep moving to find another trading opportunity.

What I have learnt in my entire trading career is that there is nothing right and wrong in the market. If it works for you, it is right and if it doesn't, no matter how profitable someone says it is, you better avoid it. It's an alone game and you have to find your own strategies, plans, and...

No strategy is "best." They are small edges in the market that may or may not work aways. The forex market is volatile and keeps moving, making it challenging for traders to become profitable with one strategy.

Start with the basics. When you begin with new things, you want your basics to be strong. Forex trading is no expectation. You need to be familiar with topics such as forex analysis, risk & money management, basic terminologies, and trading platforms. You become conceptually strong with...

Knowledge will only determine your success as a trader. So, ensure that you cover all the forex fundamentals before taking any risk. Do not be hasty ! Trading comes with time. Understand your emotions and practise on a demo account for at least 6 months before taking an actual risk.