Blog: My Trading Skills

Your broker is your window to the world of financial markets. To succeed in trading, having a reliable and secure broker is extremely important. Here are the most important features you need to look for on a good broker platform. Security and Stability What does a nice and shiny broker platform help if it’s...

Paper trading is an invaluable tool for traders who want a risk-free way to learn to trade, analyze the markets, and back-test their trading strategies. Let’s take a closer look at what paper trading is and how you can use it to improve your live trading performance....

Forex brokers are an essential component of successful trading. They provide you with the trading platforms and tools required to trade the markets and usually are the first ones to reach out to in times of trouble. But, how to choose the right broker in the vast number of available choices? What types of Forex brokers are there, and what are some key...

Signal Summary: Market: UK 100 Strategy: Building the Evidence Direction: Buy Order type: Buy limit Entry price: 6900 Stop loss: 6850 Take profit: 7000 Expiry: GTC Detailed analysis: this is a detailed analysis and more here https://mytradingskills.s3.eu-west-2.amazonaws.com/wp- content/uploads/2021/05/11144328/uk-100-chart-1-150×150.png Created at: May 11, 2021 at 2:45 pm by 169...

Brokers and traders – two completely different types of market participants, yet one cannot exist without the other. Let’s take a closer look at the differences and similarities between brokers and traders. You may be surprised that their interests don’t always overlap....

Let’s face it: We all love trading but often forget about the various costs and fees when placing trades on the Forex market. Forex traders need to be aware of those costs and know their meaning in order to stand a chance of becoming a good trader. Here’s an overview of the main trading costs you’ll face on the Forex market on a...

Forex trading is complex, but it doesn’t need to be complicated. Many traders have made it and become consistently profitable in the currency market by keeping an eye on their risk levels, having strict money management rules, and defining a set of trading rules in a written trading plan. Let’s take a deeper look at why many beginners fail with trading and what...

CFDs are a popular type of derivatives product that allows traders to efficiently speculate on the prices of stocks, currencies, commodities, or indices, without having to take ownership of the underlying assets. Here, we’ll shed some light on CFD trading, its main characteristics, and how to trade CFDs online. What are Contracts for Difference and How Do They Work? CFDs, short...

If you’re just getting started with trading, you’ve most likely encountered just one type of order: the spot market order. Fortunately, most brokers and modern trading platforms allow you to choose from a range of order types that best fit your trading strategy. In the following article, we’ll cover the most popular broker order types and explain how to use each of...

Although investing and trading share some common ground, there are also important differences that you need to be aware of. Here is an overview of seven major differences between investing, active investing, and trading. Investing vs Trading Explained Investing refers to buying financial instruments...

Leverage is a concept that attracts a large number of traders to the markets. At first, trading on leverage sounds very appealing to new traders. That's because leverage allows them to control a much larger position size than their original trading account sizes. But here's the catch:...

No matter what markets you’re trading, the chances of being consistently profitable are slim if you don’t have a successful trading strategy. Here, we’ll shed some light on: What a trading strategy is Why traders need...

Swing trading is a popular trading style that attracts many new traders to the markets. It’s tends to be less stressful than day trading and allows staying in a trend for longer periods of time. It doesn’t require active trade management. In this article, we’ll cover the profitability of swing trading and provide...

Day trading is one of those topics that polarises many people in the trading community. For some, day trading promises quick profits and the road to financial freedom. For others, those who didn’t experience any trading success, day trading is the...

Before placing your first trade as a day trader, it’s important to pick a market for your trading plan. Although the majority of traders focus on day trading only one market at a time, like currencies, stocks, or futures, you don't need to restrict yourself to only one market....

What’s the best trading style to get your feet wet in the markets? There are many styles to choose from and each comes with its own advantages and disadvantages. Are you an impatient trader who loves fast action on your charts? Or do you lean more towards long-term trading and holding your trades open for months or even years?...

Did you know that Asia is home to the most online traders, but the UK takes the top spot in Europe? Or, have you ever wondered how many female day traders there are? Well, here is our list of 15 day trading statistics that may surprise you. #15. Successful day traders are consistently profitable...

According to the latest The Modern Trader report, over 50% of new traders deposit less than $500 in their first trading account. Trading a $500 account is somewhat different than trading a significantly larger account: You need to pay attention to your free margin and be pickier with the setups you’re going to trade....

Day trading or long-term investing? Actively trading the markets or reaping the rewards in the long run? If you can’t decide what approach is best for you, here are a few tips, pros, and cons of both day trading and long-term investing. What is Day Trading? Day trading is a popular trading style that involves opening and...

Although trading is not as easy as some online trading gurus want you to believe, it doesn’t have to be hard either. If we could express successful trading with a single sentence, it would be “Keep it simple but smart” (that’s also one of our tips!) So to keep the introduction short (and simple), here are our 10 swift tips to money trading...