How to Start a Prop Firm
If you’re thinking about launching a proprietary trading firm, it’s essential to grasp several key components such as costs, licensing, and effective business strategies. Begin with a minimum capital of $1 million, and ensure you account for legal and operational expenses in your budget. While individual traders do not require separate licenses, your firm must […]
Trading Psychology Dealing With FOMO and Revenge Trading
To effectively manage FOMO (Fear of Missing Out) and revenge trading, it’s essential to recognize their psychological underpinnings. FOMO can drive you to execute impulsive trades due to social influences, while revenge trading often stems from frustration over losses, prompting rash decisions. A solid trading plan is key. Outline your strategy clearly, detailing your entry […]
Live Trading Vs Demo Trading
You looked excellent on the demo account, but as soon as you joined a live account, you started losing money. Many traders who have used demo accounts can relate to this issue. Almost every day trader goes through a phase where they appear to lose their way between demo and actual trading. In this article, […]