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The problem with beginner traders is that they sooner than later tend to become over confident of their trade set-ups and once this over confidence sets in, they begin to expect guaranteed success. Over expectations of success leads to over leverage and then there is the danger of an account blow out. It may also happen that the setup may indeed work out but it is crucial to … [Read more...] about The Real Magic Bullet to Successful Forex Trading

Forex trading is not only quite challenging, but stimulating as well, and that’s probably because of the extreme risk involved in it. But these things are exactly what make Forex trading a thrill and acts like a magnet of attraction for many traders, making them jump headlong into it. But this is not the problem. The actual difficulty begins when traders start Forex trading … [Read more...] about Why Risk Reward Money Management is Crucial for Trading Forex

Developing and keeping a Forex trading journal is one of the important steps in Foreign exchange trading. In this post, I am going to offer you a trading journal to log all your trades which will help your trading journey and mindset. Why do you require a Forex trading journal? First off, you require a trading journal due to the fact that you need to track your trading … [Read more...] about Forex Trading Journal to Track Your Trading Performance

The backbone of any business lies in its planning. It is almost an unwritten rule that any business that does not have a plan to follow will most definitely follow the path of ruin. Forex trading is also a business and the rules that apply to other businesses apply here as well and it Forex trading requires effective Forex trading plan. Though there are many Forex traders … [Read more...] about 10 Crucial Points of an Effective Forex Trading Plan

Forex trading is quite complex and it is definitely a high-risk venture. It could easily become a source for earning handsome profits or also could plunge you into a deep abyss of financial losses. The only deciding factor between a profitable and a loss-making currency trade is knowledge (or the lack of it). “Failures are the stepping stones to success.” This popular adage … [Read more...] about Tips to Succeed in Forex Trading: Reasons Why Many Forex Traders Fail