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5 Fatal Mistakes that Novice Traders do in Forex TradingFirst of all if not having a trading system. Imagine this, you a...
14/02/2022

5 Fatal Mistakes that Novice Traders do in Forex Trading

First of all if not having a trading system. Imagine this, you are walking down a dark alley, if you do not have a direction that you would want to go, you will reach nowhere. but if you do have element that you follow and stick by it such as rules and mental models that you equip yourself with, then there will be no issues in terms of being a profitable trader.

Next would be not following money Management. even though you have a strategy that make you money every single time, but not following a proper management can result in disaster. because if you know how to manage your risk and how much you are betting every time you take a position then, you would not overtrade or even over risk your hard earned money. you will have a system on how to manage your money.

Using high Leverage. this is by far the reason why traders overtrade and burst their account to zero even though they predicted the outcome correctly. imagine taking 20 positions at the same price level, if the market ever goes against you, then 20 position worth of loss will be reflected on your account. but if you spread your 20 positions/orders throughout the market that goes down, then you have a better chance of your account surviving.

Using Emotions while trading. IF a trader can can detach their emotions whenever they are looking at the chart, they can totally be a successful trader, this is because when a trader have emotions attached to the chart, every single small movement of the market will make them to make decision and it would not be a wise one. One way is to look at higher timeframes so that you do not get emotionally attached to small changes in price. You only look at the chart one time a day.

Last would be trading everyday. There is saying that, if you want to be rich , you should be trading every single day. that is not true as opportunity does not come every day. you should always wait for the best opportunity and a very good bargain to enter the market. witht his, you can have a higher risk reward which gives you the best returns.

How do Trading Plan Work?To construct a solid trading model, there are 7 tips that you can use as guide to have a perfec...
10/02/2022

How do Trading Plan Work?

To construct a solid trading model, there are 7 tips that you can use as guide to have a perfect trading modal.

Looking at Time, deciding on what times during the day are you spending to be trading on? during which opening of market either Sydney, Tokyo, EU or the US market.

Next would be Currency pair, Which type of currency pair you are interested in adding to your portfolio? It can be the major pairs, Minor pairs, or just sticking with index. Knowing this can give you a better plan on which you should be focusing on more.

Speaking in terms of volatility, Taking in consideration that the time and y9oru currency pairs, will you be trading and taking your entries during volatility times when the market moves aggressively or taking a trade when there is not much movement. many more elements can be added here.

Trading goals, What do you want to achieve by following this, making your small capital to a large one by compounding or ssticking with a large capital and making small percentage return every single trade?

Risk, This is quite important as what are you rrisk per trade, are you using toold to gauge your risk or just going all in on one single trade? this has to be defined in your goals as well.

How long will you be holding your position for? which timeframe are you going to be focusing on? this are the questions you should ask and have the answers for your trading model.

Last would be leverage. Using a high leverage means that you can enter in more positions and have higher risk for your overal account. or sticking with low leverage and having one few trades per month but growing it to a larger gain.

When you have all written down, then you would have the best trading model constructed for you.

Comment down how your trading model is?


Successful Traders TraitsTo be a contrarian trade, there are many factors to consider before becoming one. there is a st...
07/02/2022

Successful Traders Traits

To be a contrarian trade, there are many factors to consider before becoming one. there is a step by step guide on becoming so. but most of the contrarian traders commonly have these traits where with this, you can eliminate being like the 95% that consistency lose in the forex market.

Brokers always encourage traders to open up account with very high leverage. with this, traders can opt in putting in very high lot size that can make the trading account go zero. by just tweaking one element which is the high leverage account, you can eliminate overtrading which is the number one killer for novice traders.

With having low leverage, your trading style would be just having to take one position and not overload on your margin. this will ensure that you will always be in the safe side.

Next element that anyone can start off with is being consistent. When a trader consistently trade using low leverage and carefully look at other elements, he can consistently get the same result again and again. his trading performance will go up as well. because not losing focus on the main thing is the key.

Contrarian traders know one thing. Know when to stay out and when to go in the market. Being always there is not a wise thing to be doing.

Are you a Contrarian Trade?



Phases of Trade Analysiswhen a trader wants to take a position in any pair, he/she should be following a step by step be...
03/02/2022

Phases of Trade Analysis

when a trader wants to take a position in any pair, he/she should be following a step by step before taking the trade. there are 4 phases to taking up a trade and what you should be doing in your trade analysis.

First phase is to prepare. This phase is all about researching about the pair that you would like to take an entry on. this means that looking at what has the market done and how volatile is the market compared to other pairs that you look at.

Phase 2 is about your trading plan. This is where you would plan out your entry point, whether or not you will be taking a pending order or market ex*****on. also knowing your risk reward ratio for your pair and all the scenarios if the trade has not gone your direction. what is your plan on doing so. When you know in and out what you should be doing then, you will not be panic when the market goes in reverse.

Phase 3 is about waiting. where in the investing world, 20% of the time is done by buying or selling. but the 80% of the time you will be waiting for the market to go in your direction or either hit your stop loss or take profit. learning to wait for your position to go either in your direction or hitting your stop loss will make you learn to be patience and not repeat the same mistake every single time.

Phase 4 is when your result comes up either that you hit take profit or your hit breakeven /stop loss. This is where you do your post analysis on your trade where if it goes favor to you then you should acknowledge it but if not then learn from the mistakes that you could have avoided. This is far most the best way to learn and become a successful trader. Next time when the same thing arises again, you will know that you have previously seen the same mistake.

Do you follow any method before taking a trade?



What is Volatility?This is a very important topic because without volatility, you cannot be trading. So it means that on...
31/01/2022

What is Volatility?

This is a very important topic because without volatility, you cannot be trading. So it means that on how much does the price change over time.

For example, if you are comparing Cryptocurrency and bonds market. the movement for crypto is very huge but in the bond market, the movement of price changes is very small.

This makes crypto market very volatile. This is also when there are many traders trading it. because when there are so many participants in the market, market moves aggressively. in the bonds market, there is not much volume like in the crypto market that is being traded on a daily basis.

Knowing this can be useful to diversify your portfolio so that you have some asset class in high volatile market and also some in the low volatility for stability.

How do you diversify your portfolio?



Forex Facts:- These are the countries that trade forex the most. Why do you think so?Comment down your thoughts.
28/01/2022

Forex Facts:-

These are the countries that trade forex the most. Why do you think so?

Comment down your thoughts.



What are Types of Market orders?There are many kinds of orders that you should know as a trader. First let us look at Bu...
25/01/2022

What are Types of Market orders?

There are many kinds of orders that you should know as a trader.

First let us look at Buy limit. Buy limit is an order that you place below the market price. For example, if the price of EURUSD is at $1. but you think that the price can come down to $0.50 before shooting back to $5. Then you can place a pending order which is a buy Limit at $0.50 and if the market did come to that price level, it will be automatically executed and you would have yoru buy order at $0.5

Next, would be Buy Stop. This is t=just the opposite of Limit order. Lets take the previous example, if you do not want ot miss the opportunity in case market goes up without going down to $0.50. then you can place another pending order which is Buy Stop that is buying above the market price. Which means setting a pending order at $1.20. this means that if market does fly up from $1 then your order would be automatically executed at $1.20

Lets talk about Pending Sell orders. Sell Limit is Selling Above the market price. For example, if EURUSD is at $5.00 and you think that price might go up to $7.50 and then drop to $1.5. so you can place a pending sell limit order and wait for the price to go up to the price level.

Sell Stop is the opposite of that. Selling below the market price. If you think you do not want to miss the opposrtunity of selling incase the drop tanks below very quickly. you can set a pending Sell Stop below at $4.00. So the current price is at $5.00 so if the price just drops to $4.00 then your order will be executed.

Lastly, there are the Market Ex*****on. This is also known as the instant BUY/SELL. This means that you are either buying or selling at the current price.

Do you use Pending orders?



Fears Faced by TradersWhen traders are starting out trading in FX market, they go through alot of emotions turbulence. t...
21/01/2022

Fears Faced by Traders

When traders are starting out trading in FX market, they go through alot of emotions turbulence. there are so many things that the trader go through but the main one that needs to be rectified immediately are few of these which is Fear of Loss.

If a trader treats trading forex like a business, then he/she should know that in any business, there is always losses that he/she faces. but in the FX world, traders dont want to face losses. then they try all the ways to avoid by taking profit too early. when when they are in loss, they wait for the market to turn favor to them. when they do this, they have the risk of bursting the entire account just for a single trade that might be wrong.

FOMO is a very important thing that majoirty of traders out there are still going through. Coming with the crypto market FOMO has been magnifed to a larger scale as the profit that can be made in crypto market is huge. So traders do not want to miss the opportunity and go in at the highest price where the market has already risen up 1000%. They do not want to miss the next 1000% spike so they would go all in.

Fear of not being right. Let us be honest here, nobody knows what is going to happen in the next day on the market, but having a slight edge is what we are doing as traders. but in the end of the day, its all about probability. you need to accept that you are not going to be right 100% of the time. So let that sink in and take trades and make your trading plan comfortable with having few losses but not going overboard till you cant gain back when you are right in the market.

Last would be fear of letting profit turn into loss. When you have done all those things right and now you are making money, but you are scared that your position that you took might go back into loss. You can counter this by just setting a brekaeven price so that if the market does turn back, you do not lose anything but if the market does shoot up,, then you can reap the profits.

What fears are you fighting while trading in FX or Crypto?



Tips from Warren Buffet“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1”Do you agree to this rule?Comme...
18/01/2022

Tips from Warren Buffet

“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1”

Do you agree to this rule?
Comment Down your Thoughts..



What is Major Currencies?In the forex world of so many different kinds of currencies, there are major currencies, minor ...
18/01/2022

What is Major Currencies?

In the forex world of so many different kinds of currencies, there are major currencies, minor currencies and exotic currencies.

As for the most popular currencies that is being traded is the major currencies, this consists of all the main pairing such as USD- US Dollar, GBP- Great Britain Pound, NZD- New Zealand Dollar, JPY- Japanese Yen, AUD- Australian Dollar and EUR- Euro.

As this is widely known throughout the world, most traders trade this massively. With more traders trading it, the volatility of the currency increases.

Minor Currencies are the combination of the major currency without the presence of USD. For example, GBPJPY is an cross/minor pair.

Exotic pair is the currency pair that is from developing countries such as Turkish lira, Czech Kourna, Malaysian Ringgit MYR. These pairs are super volatile and very unpredictable. Its best to avoid this pairs if you are just starting out in Forex.

Best to stick with Major currencies

Comment Down which pairs you trade in FX??


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