Article Library

8/31
Ranking
Hi Pip Warriors,
Welcome to another new month, Forex is not magic but it’s full of logic and people sentiment where god will also fail to predict market direction. Let’s assume god decided to start forex trading without experience/knowledge, money and risk management then god will also hit rock bottom within months. I am going to tell a new pip warrior story which is worth listening.
When I started to trade, I was scared and felt like entering to some unnatural world where life is full of unexpected traps so started to meet new people in the new world to understand and to start new pip warrior life.
I am always excited to meet new people in Dukascopy because I love to listen their trading life cycle by asking questions like how they came to know about forex, how is their trading life and much more. Final and my favorite question is please can you give some suggestion for successful trading.
From every people I met in Dukascopy always took something good from their trading life and trying to adopt to my trading journey. As usual met one guy in Dukascopy and like same asked about his story where I learnt so many things so I thought to share his story because it will be lesson for…
Read article
Translate to English Show original
iiivb avatar
iiivb 30 Apr.

great and thanks for sharing!

ElizavetaKl avatar

Good article

Denis777 avatar

интересно

tdbatinkov avatar

well done

KalenS avatar
KalenS 12 May

отлично

orto leave comments
23/53
Ranking
Did you realize that we cannot make profit in every trade you make? Yet we hope that every trade be successful. This is societal bias which affects us to be perfectionist. There are many cognitive biases which affect us against long term profits in trading . For this article I will concentrate on perfectionism.
Perfection has to do with the end product, but excellence has to do with the process.
I like this quote by Jerry Moran (US senator) and it perfectly suits trading process. We should aim for excellence but not perfection in trading. In next paragraphs I will try to explain the above. First, Let’s see what happens to traders.
You probably thought at times at those moments when you close positions too early, only to see a further rise of prices that may be beyond your target profit. Or when you close the position at a loss, only to come back and continue to go according to your strategy; or maybe it was a case where you do not have entered the market because the setup is not quite right or the market price has not reached the desired level to enter, you have missed the opportunity to not have won. Likewise, perhaps you were the days when you turned up luck in these situations…
Read article
Translate to English Show original
Maxim3 avatar
Maxim3 12 Aug.

хорошие мысли, тяга к совершенству очень мешает в учебе

Mariya_Suhina avatar

перфекционизм в любом деле не очень хорошо

9jakas avatar
9jakas 14 Aug.

Nice attempt

orto leave comments
13/26
Ranking
Begining:

I decided to share with you part of my trading evolution in last years. I started with trading forex spot interbank market in june 2010, because i wanted to have my own business and make lot of money. The great advantage of forex market was that i was able to start with trading with as low as 100 dolars, which was incredible. When i saw trading chart for first time i didnt see there anything, no information and i felt very bad, because it seemed to be lot of noise with no order. My first trading style was trading M5 charts and i traded highs and lows, that times i traded around 10 - 12 hours a day, because i was really motivated to be successful and i wanted to make as much money as fast as possible. The advantage of M5 charts was that i had everyday some opportunity to trade, on another hand i saw, that the market can burn me a lot, once i will not recognize that there was some big news, which changed everything. The hardest was first two years, when i tested as many as possible trading strategies, everytime i looked for something new, to make a step forward to my dream. I think that it was really important, because once you really want to find something, which will su…
Read article
Translate to English Show original
PTtrader avatar
PTtrader 19 June

yes, agree. It changed my life, now i trade better and live better :)

khalidamassi avatar

Good thing to share experience, Good luck.

PTtrader avatar
PTtrader 19 June

Thank you. Good luck to you too!

Skif avatar
Skif 24 June

Good the Evolution Bro !!!

PTtrader avatar
PTtrader 25 June

Thank you

orto leave comments
24/33
Ranking
Hi all,I started trading about three years ago on demo trading account, like demo MT4 accounts,but quickly made my first deposit with a broker - going after the money involved,and things looked allright in the beginning,but I was trading without any experience, insight, or a planI pumped in a lot of money over a 2-year period,and started losing a lot of money out of frustration because I was making trades that were beyond my limit/money-managementThen I suddenly realised I should be learning to trade .. (duh)I follow the currency and market news now,and only trade in competitions -- it beats demo-tradingbecause it is exciting, and there is a chance of cash at the end.There are always competitions around, check:http://www.100forexbrokers.com/contests-competitions/demo-accountI made $500 in a competition for the first time last year and decided that I would tryto make $10000 off it, well, I got as far as $1237 and then lost everythingbut I can enter a new competition, can't I, like this one .. ;-)What I do is basically use google to the best of my ability -- search out the best market-information providers, and follow their advice (once they call a shot, you stop thinking for yoursel…
Read article
Translate to English Show original
LittleFishy avatar

Yes, very open and honest as victor says. I like this narrative as a good perspective to keep in mind as I trade. Thanks for this.

WallStreetBlog avatar

very interesting!!! thanks...

geula4x avatar
geula4x 11 May

+1 Liked: Seems like a candid opinion, based on your own experience. I think it can help new Forex traders. Happy trading this coming week :-)

Efegen avatar
Efegen 20 May

Yes true and it is my way also. The money is slow acculamating thanks Dukascopy and i am not using for fun but i let my automated systems to run the money.

Likerty avatar
Likerty 21 May

It fascinates me, how many layers of knowledge lying in trading. Learning is never ending process. Money is not the only thing that people loose while trying to master the markets - constant stress, sleeplessness and excessive sitting - damages health faster than anyone could think.. ANd social life goes too.. Not everyone realises how much one must give in order to get in to profitability!

orto leave comments
35/48
Ranking
hello everyone today i wanna share in this article one of my recent experience.ok,here we go-newbies think that can we turn $20 to $620 in oneday and think of similar things in forex.the answer for it is yes,we can and not only that anything is possible in forex if you have skills and talent to achieve it and at same time can lose everything when you wont trade with good discipline or without knowledge.how i earned?one fine day morning i have woke up at 6:00a.m and i had $20 balance in my trading account and then i opened 0.05 lot sizes of eur/usd and when i see after 15minutes my balance rose up to $50 and from then i continue to open big lot sizes even though i have small capital and at end of the day i made $620 and that day i am very happy.twist in my story?i think up to know everyone might thing it is really great to make that much amount with small capital as i made almost 310times in one day.now on next day morning i continued to open big lots again as i had some kind of confidence and i am like in a dream and now its all over my $620 was now with me anymore and i had lost it in just 30minutes next day.what is experience for you?for me it was really a bad experience and good…
Read article
Translate to English Show original
LinnuxFX avatar
LinnuxFX 18 June

I do that too, in my dreams, good luck...

orto leave comments
49/94
Ranking
The Lure What comes to our minds when we think about forex? Money, enormous amount of money. We knows that forex is the largest financial market in the world with its $4 Trillion a day trade volume. Yes, that is why we plunge ourselves into the forex world, right? We want to make thousands, or even millions of dollar trading in this delicious foreign exchange market. Better still, forex brokers offer free trading line (leverage) up to 1:100 or even 1:500. Yes, we can trade 100 or 500 times the amount of our equity. This is the one! Perfect business, low setup cost with unlimited profit possibility.   Before We Start We do our homework. We read many good trading books. We study fundamental analysis, trying to grasp what that daunting economics data means. We study technical analysis, figuring out how to use and read many technical indicators and learn how to spot candle reversal and continuation patterns on charts. We open demo account, trading it for several weeks, and lose all the virtual money. We do not despair; we step back and analyze our trading mistakes. We refine our trading system and open another demo account. We trade it for s…
Read article
Translate to English Show original
LinnuxFX avatar
LinnuxFX 19 Sep.

Well done, nice article... good luck for the competition...

Livornese avatar
Livornese 19 Sep.

Like your article! Inspiring to be always at the top! One point from me!

quantum_fx avatar
quantum_fx 19 Sep.

I like your article! Keep writing!

alifari avatar
alifari 19 Sep.

Excellent Article +1

orto leave comments
35/73
Ranking
 I am a thirty years old man from the beautiful Eastern Europe country Bulgaria. From early in my life I was inspired of nature and magic of science. I was living in a family, where taking risks was unneeded and very inappropriate. Despite of this or probably because of it I started some risky sport activities like climbing and hiking alone in the mountains. There I learned a lot of lessons for life and dead and for pleasure and satisfaction that brings you the measured and controlled risk taking. Lately in my life, when I was twenty five I was fascinated by the world of financial economics and the markets on their own. I study a lot and absorb everything I read in my spare time. This was a secret world, which drives the whole planet economy and step by step it reveals his secrets.        I was very systematic and study it slowly, but the dynamics of financial markets do not even let me sleep. It was 2006, one of the last years of the big bull market in developing countries. Everything was going up, not by a small percentage, but with hundred of percentages. In this period I read many books, dedicated on trading. I was astonished and inspired from such a person like William D. Gann…
Read article
Translate to English Show original
ritesh avatar
ritesh 25 Aug.

Spot on Quantum, the Dukascopy contest 2% rule is one of the best feature among many. Wonderful read, sad that we can't give more than +1! :D)))

kawser avatar
kawser 25 Aug.

awesome buddy...

quantum_fx avatar
quantum_fx 25 Aug.

Thanks to all of you!

ritesh avatar
ritesh 28 Aug.

check out my articles too at http://www.dukascopy.com/fxcomm/fx-article-contest/?action=blog&user=ritesh

futures avatar
futures 29 Aug.

nice article, keep going!!

orto leave comments
22/73
Ranking
Few words about myself I am a Forex trader. I am trading since 2008 spring.  During this period I had ups and downs. I have learnt many Forex market lessons. I also have to mention that I studied Mathematics (mostly probabilities) and IT in university. My main field is programming. So naturally I was interested in automated trading. I have tested over a 100 different automated strategies, I also build approximately 10 my own strategies. By building and testing different strategies I was able to test many of the indicators. And still mostly I am trading manually. In this cycle of articles I will try to tell trading tips, most common trading mistakes, maybe destroy some myths. I hope that this cycle will save some accounts from a margin call. This article cycle is only my thoughts and my own point of view. Many of you may not agree to what I’m saying and probably you will be right. Where a new trader should start These are the steps, that a beginner should take: 1. Read about Forex market. What it is. How it works. What drives it. You have to understand this “beast”. 2. Read trading basics – opening and closing positions, indicators, setups, chart/candle patterns, risk…
Read article
Translate to English Show original
adask avatar
adask 9 Aug.

I think risk should depend not only on trade frequency, but also on win ration and risk/reward. And also on when you feel comfortable.

jonas avatar
jonas 10 Aug.

Second article explains about risk. Thanks, great job.

naurius avatar
naurius 18 Aug.

Great article. +1

adask avatar
adask 19 Aug.

Thank you all for voting.

stockmarket2020 avatar

I think the article is so fantastic and to the point.

orto leave comments