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What is Divergence ? Guide to Divergence in Forex

We are not a big fan of indicator trading, and we prefer using price action over indicators. But, divergence is one single indicator based setup which we always consider using. We have used a lot of indicators and learned a lot of indicators based strategies, but divergence still has a different level of importance...

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What are Trend Lines?

What are Trend lines? How to Draw trend lines? In the previous article, we studied the different types of markets. We learned about the ranging markets and trending markets. In this article, I will tell what a trendline is and...

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How to Draw Support and Resistance Correctly?

Knowing about Support and Resistance is essential, but drawing it accurately is even more crucial for a trader. If a person has all the knowledge but doesn’t know how to use it, then it is of...

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The Big Gold Rally

Gold has surged around 15%, 2100 pips to be exact, from the last time we posted a blogpost on it. 3 months back we posted an article on how to make 4000+ pips by trading gold. Each and every student of ours and...

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Backtesting - The Key to Expertise in Forex Trading

A successful person is an expert in whatever he does. A lot of practice is needed to succeed in something you want. Likewise, a successful trader is an expert. He understands each and every aspect...

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Secrets of Support and Resistance

The concept of Support and Resistance is very well known in trading and almost every trader uses this to trade the markets and hope for profits. But, do you what is the rationale behind this concept of support and resistance and why does it seem to work? In this blog post, I am going to tell you why and how support and resistance works and how you can find high quality trades to capitalize on.

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Is Trading Gambling?

Whenever we tell others that we trade full time for a living, we are thrown questions like isn't it gambling? Isn't it very risky? Why are you getting into gambling for your livelihood? But is this the truth? Are traders gamblers and is trading just gambling after all...

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Why most Traders Fail?

It is widely circulated information that only 10% of the total number of traders are successful ones while 90% of the traders that look to profit from the price movements of financial assets on the financial markets are unsuccessful in their pursuits. There is no denying the fact that there are way more unsuccessful traders than those that are actually successful...

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Forex Part Time - Can Forex be done Part Time?

We understand that not everyone can dedicate their entire day to trade forex. Some have full-time jobs or college or some have prior commitments which require them to give a major part of the day leaving only a couple of hours if not more for pursuing something part-time. So, can you trade in the Forex market part-time? Let's discuss the same in this blog post. In this blog post...

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How long does it take to become Successful in Trading?

Newbie traders are attracted to forex because this industry is portrayed to be a get-rich-quick scheme and these beginners look to make millions in just a matter of weeks. This is an absurd thing to do and it is far from reality and practicality...

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Best Currency Pairs to Trade in Forex Trading Sessions

Even though there are several currency pairs listed on the foreign exchange market which is open 24 hours a day, it is not prudent to trade any random currency pair from the list and any random time in the day. The foreign exchange market or the forex market trades in sessions...

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Forex Scams: How to Spot Forex Scams?

The forex market has never been more accessible to the general public. With the rise in attention towards forex trading, came a rise in several forex scams. There are several types of scams that are targeted at individuals and unfortunately, these scams are successful at times in their pursuits. In this blog post, we will discuss the most common forex scams that are being run and we will tell you 3 crucial...

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The Elite Trading Mindset

Being in the right state of mind in everything you do is essential and it is paramount in trading. A trader may have a sound trading plan and proper risk management plan but it is also important to have the right mindset to increase the chances of succeeding in this space. A sound trading plan...

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How to deal with forex loss?

Consecutive losses can be too annoying and almost every trader goes through this once in his trading career. Too many losses cam lead to many psychological problems like lack of confidence in the trading system,...

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Emotional Trading

Emotional trading. Mastering the psychological elements of trading is an immensely important yet the most neglected aspect of forex trading. Very few traders consider emotional trading to be an important aspect of forex trading. And the traders who have mastered trading emotions...

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What is Long and Short?

Everyone knows that traders can first buy a currency pair on the forex market and then sell it and book profits if the price of the currency pair appreciates or book a loss if the price of the currency pair declines. But does everyone also know that traders can also sell a currency pair first and then buy it later...

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Forex Trading Sessions

We know that the forex market is open for trading throughout the day but it does not mean that traders stay up trading forex the entire day. There are certain time windows or sessions each day during which the majority of trading activity takes place. In this blogpost...

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Basics of Forex Trading

Forexmonopoly is a Forex Market educational and trading firm. We have been trading the Forex Market for quite some time now and have noticed that traders that are just starting out in their trading journey have a hard time learning the skill. Hence by the medium of this blog, we intend to help such traders. Due to the attention that the Forex Markets gets because of its volatility and price swings, many traders start out their trading journey by trading in the currencies hoping to...

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Is Trading Gambling?

Whenever we tell others that we trade full time for a living, we are thrown questions like isn't it gambling? Isn't it very risky? Why are you getting into gambling for your livelihood? But is this the truth? Are traders gamblers and is trading just gambling after all...

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Everything you need to know about Risk to Reward Ratio

There is a fuss around risk to reward ratios in the trading community and traders ponder over finding a trade system with a high risk to reward ratio. What exactly is the risk to reward...

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What is Lot? Types of Lot Sizes

From the beginning of our civilization, we humans have assigned certain units to everything we buy or sell. Everything from gasoline to gold is measured in a certain unit and we buy or sell them in those particular units. Consider you go out...

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What is MACD in Forex ? MACD INDICATOR EXPLAINED

What if we told you that MACD (Moving Average Convergence Divergence) is a momentum oscillator but it does not provide overbought and oversold levels and is rather used to trade trends. What? A momentum oscillator for riding trends? Yes, you read it right. MACD is...

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Is Trading Gambling?

Whenever we tell others that we trade full time for a living, we are thrown questions like isn't it gambling? Isn't it very risky? Why are you getting into gambling for your livelihood? But is this the truth? Are traders gamblers and is trading just gambling after all...

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Complete Guide to Copy Trading

The pandemic has taken away the jobs of many individuals. Millions of people have lost their source of income and have started looking for alternative sources of income to keep food on the table. Copy trading is one such alternative source of income. But what is it exactly? Read this blog post to find out.

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