There is no way to determine the best strategy, and be sure to know that there is no such thing as a perfect strategy or plan. There are options available to you, but there are a few things to keep in mind before deciding.
You have started this journey because you want financial freedom or wish to supplement your current income. Either way, you are on this journey to make some coin. In this article, we highlight why you should delay your first withdrawal and compound your account. Delayed gratification is the act of ignoring the impulse to take the reward available with hopes […]
Your understanding of Forex trading stems from your initial introduction to the markets – either quick money or a scam? Trading success is not solely based on the tools at your disposal. Fear and greed have the biggest emotional impact on the success of a trade. As a trader, you need to be self-aware to make it easier to keep […]
All the information available can be overwhelming. The truth is, there is a long list of tools, but you need a handful of things to help you get started. We have put together a list of suggestions. Good laptop and smartphone with a stable internet connection I am surprised at the prices of laptops ‘recommended’ for Forex traders. Look into […]
In several instances, I had to cut losses at 10 or 20 pips to avoid significant loss. Overall you need to give your trade room to breathe, which means that you cannot have an SL that is too tight. You cannot swing trade with a smaller account because of the manner that the market moves. Scalping, on the other hand, […]
Starting small -November $10 challenge When trading Forex remember that it is a game of wits, strategy and most of all psychology. If you are not confident in your entry you can expect rough afternoons and sleepless nights. The idea behind the challenge is to show any trader that regardless of your account size, you can make a move on […]
Finding a new flow This week was better for my account balance. I was able to recover most of my losses from the previous week. With this new flow, I have also gained some insight into trading with such a small account. Risk management Last week’s most important tip and we are repeating it this week. Trade wisely and responsibly. Remember […]