Demo Trading
9 Tips for Short-Term Forex Trading Strategies In 2020
Despite many people entering the Forex market with the idea to become millionaires, it is harder than merely opening and closing trades. Just a number: it is known that over 90% of traders lose money in the first six months.


Despite many people entering the Forex market with the idea to become millionaires, it is harder than merely opening and closing trades. Just a number: it is known that over 90% of traders lose money in the first six months.
However, with the right combination of effort, study, and advice, you can avoid the guillotine and become a successful Forex trader. In this article, we will take you into the best tips and tricks for short-term forex trading.
Because, as American singer Kenny Rogers said in his song The Gambler, “If you’re gonna play the game, boy you gotta learn to play it right.”
What is Short-Term Forex Trading or Day Trading?
Also known as day trading, short term trading is a popular investing technique that involves trades and positions opened and closed over a short period of time, usually within the same day.
Most traders consider it very attractive due to the profitability associated with the practice. However, it can also be dangerous as it often encompasses poor risk management and exposure to swings and high volatility.
It provides relatively smaller gains per position but has a higher frequency of trades. In the end, it produces a solid amount of pips every day.
Should you choose short term forex trading or long-term forex trading? There is no single answer to that question as it is all about your trading skills, your psychology, and the money associate to your trading account.
Best Forex Trading Tips and Tricks
In the investment market, it all depends on your trading style and your personality. However, most of the best short-term forex trading tips and tricks will be related to tools that will help you stay in control of your position and, therefore, portfolio.
Here is a list of the ultimate forex tips, tricks, and advice that can help in your trading performance.
1. Know yourself and the kind of trader that you are
Knowing yourself can be seen as an obvious task, but it is not. As every market is different, so is every trader. You have your own personality, emotional reactions, and goals.
Some traders are more comfortable with low-risk positions like a safety net, but others like the adrenaline of betting against the market. Who are you? If you are the kind of person that likes to follow people and leaders, perhaps you would like to be a trend trader.
On the other hand, if you are a kind of renegade person who always looks for a different approach, a hidden agenda, or the round pegs in the square holes. Then, you would fit better as a contrarian trader. Then keep that on your mind when developing your skills.
2. Choose the best trading platform for you
There are thousands of brokers in the industry, and each one is different from the other. Some brokers are better for beginner traders, and others are excellent choices for experienced investors.
Do you want automated trading? Do you prefer being extra protected in terms of regulation? Or do you like to trade on the go with mobile apps? Ask and serve yourself accordingly.
Every broker has its own solutions, fees, base currencies, and deposit and withdrawal processing times. The best option to check is to watch for broker comparison tables and after selecting one, opening a demo account to test all of the brokers’ features.
3. Get experienced in more than one trading strategy
Mastering the Forex market should be your premise when starting your investment career. You should learn more than one trading strategy that fits your trading skills and styles.
In that way, you will see the market with a more holistic approach. This does not mean you will use hundreds of technical indicators, which is not recommended. But it can help you if you have different strategies to choose the best trading plan at every moment.
4.Start with a telescope and finish with a microscope
It will help your trading performance if you know what the current tone of the market is. For that, it is good to start your analysis from the bigger timeframe such as weekly or daily charts, and then go into shorter time frames such as 1 hour, 15 minutes, etc.
In this way, you will understand the whole trend and the direction the market is moving. Then, you will be able to identify potential short-term opportunities in market situations such as support and resistances, overbought or oversold conditions, or when it is not a good idea to go short or long.
Remember, the trend is your friend, even if you are a contrarian trader.
5. Check correlations
Correlations are a powerful tool to confirm trades but also to potentially double profits. Use currency correlations to your advantage and to evaluate the risks and profitability of traders.
Statistical correlation talks about the relationship between two assets. It could be positive, but also negative. It means that when it is positive, one asset tends to mimic the other, for example, the euro and the Swiss franc. On the other hand, when it comes to talking about negative correlation, one security goes the opposite of another.
Positively correlated pairs are EUR/USD, GBP/USD, and AUD/USD. Negatively correlated pairs are EUR/USD against USD/CHF or USD/JPY.
Long story short, you buy gold and also sell the DXY if the greenback is trading down. For instance, when you go long EUR/USD, it is natural to go short on USD/CHF.
6. Make a trading plan
Trading plans are the roadmap you will follow when starting your position. It should contain entry and exit points, stop loss, profit-taking, and risk/reward ratio.
The plan will keep the information about how much you are buying or selling, your potential profits, the levels to watch, and finally, it provides you with an exit point in case everything goes wrong.
Having a trading plan is one of the top items here in this list of Forex trading tips, as it will keep you in line with your objectives. But also, you should understand that the Forex trick is that you should follow your plan.
7. Protect yourself, manage your risk
Protecting yourself and your money is one of the cornerstones in your trading life. Remember that the market will open tomorrow, be sure your portfolio will be there too.
It is essential to calculate the risk associated with every trade and know when to wait and when to start trading. The market provides opportunities every single day, do not rush!
Finally, understand that it is better to stop trading when you are having a streak of losing days and take some days off. It will clear your mind, and you will return to the market with a sharp brain. Last but not least, never trade without stop losses and limit your risks.
8. Trade with facts, not emotions
This may sound basic, but it is not. Trade what you see, not what you hope to see. Wait for the right moment and keep your emotions out of the deal. I know that this is hard but understand yourself and learn how to deal with you.
Two intelligent Forex trading tricks are to maintain a clear trading plan and keep a detailed trading journal.
9. Keep learning Forex and be on top of new technologies
As Isaac Newton once said, “what we know is a drop, what we don’t know is an ocean.” The Forex market is one of the most challenging enterprises globally, but also, one of the most potentially rewarding.
Forex is hard because it changes every day at every second. What used to work in the past is not going to necessarily work now. It is imperative to keep studying and testing the market with new strategies, research, and both technical and fundamental topics.
Keep an eye on technology and use it for your advantage. Try back-testing software, automated trading, and technical indicators to enhance your trading and research.
Finally, keep a good internet connection that sustains your platform any time you want to use it.
Final Thoughts
According to a 14-year research on the Taiwanese stock market by the University of California and the Peking University, over 75% of participants quit after two years, and 90% of individual traders left the investment world after four years.
The study also showed that investors engaged in more traders after profitable periods due to overconfidence, and finally, they got burned.
This is why it is so essential to govern yourself accordingly and take the market seriously. Following these nine short term forex trading tips and tricks, you will have reliable tools to become not only a trader but a successful and profitable one.
At the end of the day, it all depends on you and how you deal with yourself. Keep your trading in shape with regular study, research, and testing. And win big!
Short-term Forex Trading FAQs
What is the Easiest Forex Strategy?
The easiest forex strategy is the one that fits naturally with your trading skills. More people love support and resistance, but it is all about you and how you like to trade.
What is the Most Profitable Forex Strategy?
That depends. All forex techniques are profitable, and potentially the most profitable forex strategy can be whichever. The secret is that you trade what you feel and fit with your trading skills and style. The money will come naturally.
How Can I Get Better at Forex Trading?
The answer is one: training. Forex evolves every day, so to get better at forex trading you should keep studying, learning new things, and testing different strategies. And finally, trade what you see, not what you hope to see.
Broker Reviews
Sollari Review – top 75 Broker ?


Sollari Review
Sollari is a global forex and CFD broker with trading platforms that is suitable and fully functional for all devices.
This is a good option for all levels of traders, although the product portfolio is average, and there is an inactivity fee to be aware of.
Initially formulated in 2023 to provide a robust forex trading platform, Sollari offering to include CFDs, indices, shares, commodities, and cryptocurrencies.
Sollari has several trading tools and features designed to make your trading experience as smooth as possible. The trading platform, has been heralded as a simple and convenient platform without losing the functionality you would find at MetaTrader 4. Some education is also available through the trading platform, and highly responsive customer service is available 24 hours a day.
Please read my full Sollari review for further details of this forex broker so you can decide whether Sollari can meet your needs.
Who is Sollari?
Sollari is a global forex, spread betting, and CFD online broker. Sollari is an online Crypto and Forex Broker providing traders across the globe with cutting-edge technology to trade the world’s markets. In a continuous effort to give their traders a more comfortable and safe trading experience, their experts have been improving their service and solutions ensuring traders have the freedom to trade whenever and wherever they like.
They are headquartered in Kingstown, St Vincent and the Grenadines. with offices in Milan, Nassau, Sofia, and Luxembourg and are authorized and
Sollari product range overview
The product range at Sollari is average compared to other brokers. They offer a solid selection of currency pairs and CFDs, no futures CFDs, and an average number of commodity and stock index CFDs. additionally they do offer leverage trading on the main cryptocurrencies.
Forex trading
More than 50 Forex pairs are available at Sollari with no commission and some of the tightest spreads in the industry.
Indices and Financial Trading
Indices and financial CFDs have flexible margin requirements and low spread , representing some of the industry’s best spreads. There are no overnight or hidden fees of any description to worry about.
Commodities Trading
At Sollari, there are several commodity CFDs, including metals and energies.
Share CFDs Trading
Trade more than 100 company shares without ever owning the underlying security. At Sollari, you can access global stock exchanges with the option to go long and short and benefit from leverage. For non-leverage trading, there is zero commission.
Sollari Accounts
There are five trading account options at Sollari. Of note are the Professional Trading Account and the Islamic Trading Account. There is also a free demo account from where to practice your trading.
Free Demo Account
You can select from the free demo account which platform you would like to practice trading on their trading platform. You will immediately receive $100,000 of virtual funds, which can be used to familiarise yourself with the financial markets and forex and CFD trading.
Islamic Account
This is a Shariah-compliant Islamic account which includes many features that are in keeping with Sharia law.
See here the overview of all the accounts.
BASIC ACCOUNT | STANDARD ACCOUNT | GOLD ACCOUNT | PRO ACCOUNT | VIP ACCOUNT | |
---|---|---|---|---|---|
MINIMUM DEPOSIT | $5,000 | $10,000 | $25,000 | $100,000 | $250,000+ |
ORDER EXECUTION | Instant | Instant | Instant | Instant | Instant |
ACCOUNT CURRENCY | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP |
ACCOUNT MANAGER | yes | yes | yes | yes | yes |
SPREAD, PIPS | Fixed | Fixed | Fixed & Floating, Variable | Fixed & Floating, Variable | Fixed & Floating, Variable |
QUOTATION (NUMBER OF MARKS AFTER POINT) | 5 marks | 5 marks | 5 marks | 5 marks | 5 marks |
LEVERAGE | 100 | 100 | 200 | 500 | 500 |
MAX. TRADE SIZE | 10 lots | 20 lots | 40 lots | 50 lots | 100 lots |
REQUOTES | None | None | None | None | None |
MARGIN CALL LEVEL | 40% | 40% | 40% | 40% | 40% |
STOP OUT LEVEL | 30% | 30% | 30% | 30% | 30% |
TRADING PLATFORM | all devices | all devices | all devices | all devices | all devices |
CUSTOMER SUPPORT | 24/5 support | 24/5 support | 24/5 support | 24/5 support | 24/7 support |
Sollari Trading Platform
Sollari provides a web, desktop, and mobile trading platform on their trading platform, which is provided by the High-tech software provider “easytech”.
This trading platform has an excellent reputation among traders.
web trading platform
The web platform allows you to place trades directly from your web browser in an easy-to-use interface that is customisable and available in several languages. The web trading platform falls short because of its lack of social trading; however, it is well-designed with several useful features.
There is a two-step login for additional security, and you can search for an asset using its name or by category. Order types include:
- Market order
- Limit order
- Stop order
I was impressed with both the portfolio and fee reports which were comprehensive and easy to use, with clear information on commission, swap fees, and performance.
There are also the following useful features available on the trading platform:
Trailing stop
Trailing the position of a current price can then trigger a stop order as the price reaches a predetermined distance from a stop order. It works similarly to a stop order but in a more controlled way that aligns with movements in the market.
Market Sentiment
This allows you to closely monitor movements in the market using data from other traders concerning a specific instrument.
This allows you to mitigate risks by investing in the same product in a different direction.
Charts
Real-time charts provide up-to-the-moment information, including historical trends, forecasts, and current trends.
Sollari mobile trading platform
The mobile trading platform is in keeping with the web trading platform, with much of the same functionality.
The actual design is well laid out and easy to use with customizability. I found the mobile app fast with personalised watch lists and the ability to open positions directly from real-time charts.
There are price alerts that include statistical alerts, which can be monthly or yearly for currency pairs, indices, etc. Clicking on the alert will automatically open the app on the instrument.
Sollari desktop trading platform
Use the desktop platform. This platform is designed with professional traders in mind, leaving the webtrader as an alternative for beginners and intermediate traders.
There is excellent customizability, some good search functions, and a choice of several languages.
There are several tools and technical indicators designed to enhance your trading activity.
Sollari customer service review
Customer service is excellent at Sollari, with immediate response times across multiple channels.
There are several channels for contacting customer support, including phone and email. When I tested their service, my query was dealt with immediately without even the intervention of a chatbot. The service provided via email and phone was similar, with fast, relevant responses to my queries. Customer service is provided 24/5, which is above average.
Sollari is opening an account.
The account opening process is straightforward, fully digital and quick. You will need your ID.
To open your account, you should first decide on the account type you wish to open
Then you can follow these quick and easy steps:
- Select your country of residence
- Add personal information, including name and email address
- Choose a password
- Enter your home address and tax residency
- Complete some simple questions relating to your trading experience
- Fill in information pertaining to your personal finances, such as income and savings and employment status
- Select your base currency
- Upload your ID documentation and proof of address, such as a utility bill or bank statement.
Sollari Deposit and Withdrawal
Deposits and withdrawals and essentially free, and the minimum deposit is high compared to what you would find at other brokers.
Before making your first deposit, you will need to choose between the following base currencies:
EUR, USD, GBP
Deposit options include:
- Bank transfer
- Credit and debit card
- Cryptocurrency
The minimum deposit is $5000, which is high compared to other brokers. There are no fees should you choose to deposit via bank transfer from your bank account.
Bank transfers take several business days.
Withdrawals can be made using the same methods accepted for deposits, and there are no withdrawal fees for electronic wallets and credit/debit cards.
Sollari safety
Sollari is not regulated by the Financial Conduct Authority (FCA) but is performing full due diligence to comply with AML regulations.
In addition, all client funds are held in segregated bank accounts to protect those funds should Sollari go bust.
The Sollari negative balance protection protects client funds should their balance go negative.
Sollari fees
Sollari has low CFD and forex fees and average non-trading fees.
Fees can be separated into two main categories for a CFD and forex broker: trading and non-trading fees.
Trading fees
The trading fees will vary depending on the financial instruments you are trading within each asset class. Trading fees can be charged as a spread, a commission, or a financing rate.
Spreads differ between the bid and ask price for a foreign currency price. Here’s how Sollari spreads compare against some other forex brokers:
Non-trading fees
Sollari has low non-trading fees as they do not charge deposit and withdrawal fees, and there is no account fee.
Inactivity fees are charged. There are inactivity fees to be aware of. However, these will only kick in once your account has been inactive for several months and you have a positive balance.
Who is Sollari suitable for?
Sollari is suitable for all levels of traders looking for a solid trading platform and very competitive spreads.
The selection of account types is aimed at both retail and professional investors.
Demo Trading
The Advantages and Negatives of Forex Demo Trading


Intro to Fx Demo Trading
Despite the placement as the planets greatest monetary market, the forex marketplace only became easily available to retail traders in latest years because of the introduction of sites based trading via on-line forex brokers.
Aspiring forex investors can right now make use of digital trading systems – like the extremely well-known MetaTrader software program
(offered as a free of charge download by MetaQuotes Software program Company ) to access the large forex market thou they might trade only in very small amounts themselves
The majority of on the web brokers will support MetaTrader and could also provide their own proprietary platforms or web-centred dealing interfaces.
These types of systems typically enable traders to do a quick overview of the currency marketplace and maybe carry out some specialized evaluation, in addition to permitting them to gain access to trading necessities like purchase access and deal delivery for a wide selection of foreign currency pairs.
free of charge fx practice account
Like a common way of motivating forex investors to use their offer setup solutions and first deposit funds with them to make use of as trading accounts perimeter, many online forex brokers will offer a free of charge fx practice account to potential or existing clients.
Referred to as a forex demonstration accounts, such unsecured debts enable a trader to encounter a hands-on demo of what seems prefer to trade currency pairs in the forex market with this broker without placing any actual money at risk.
Although using a FX trading demo account has several benefits for traders, some tricks are well worth talking about because the technicians of getting into a demonstration operate and the producing emotional responses an investor can possess while controlling it can differ significantly from the encounter of live forex trading utilizing their personal hard-attained money.
Additional common demonstration accounts circumstances which make them vary considerably from an actual cash financed account include broker-imposed period limitations and set debris of virtual foreign currency.
The subsequent areas of this content will talk about starting up an on the web trading demo accounts, in addition to probably the most significant benefits and negatives of using a demonstration forex account in comparison to utilizing a live fx accounts for trading foreign currencies.
Starting Up a Free of charge Forex Demonstration Account
Simply about any trustworthy fx broker will allow potential and current customers to open up up a demo account with them free of charge to enable investors to practice currency trading using digital money.
Demo accounts traders frequently also get access to at least a few of the broker’s customer providers and consumer support personnel to ensure that they can obtain a much better feeling for what coping with the broker will end up being like when they determine to finance a trading account with genuine cash.
Investors desperate to open up a demonstration trading accounts can typically get around to the site of one or even more forex demonstration brokers and adhere to guidelines shown there for opening up a demo or practise account with the brokers they select.
Selecting the greatest fx demo accounts for your requirements might require critiquing those provided by a number of online brokers with different features in order to make an knowledgeable decision which broker is the best partner for your start.
When starting a demonstration account, you may even require to choose a quantity of virtual money to fund the demonstration accounts with and get into some personal data to determine yourself with.
In case you feel worried about offering your true personal data to a broker you are will to try not really you have more freedom as no documentation is required for this in general, the moment you open a real account your KYC documentation will be needed for compliance and this protects the broker as well as the traders from money laundering and fraud.
You can also open up a new e-mail account to get communications about the demo forex account if you are concerned about getting your personal email address offered to third celebrations like digital email entrepreneurs.
Pros of Forex Demonstration Trading Demo_trading_advantages
The two beginner and experienced forex investors regularly make use of demo accounts to rehearse trading currencies and check out a fresh broker or trading strategy.
Some of the more common advantages of interesting in forex demo trading consist of the following:
Observe if You Like Trading Foreign currencies
Those fresh to trading foreign currencies or trading generally can use an fx demo accounts to find if they are psychologically and psychologically appropriate to the bustle of trading forex. Everyone is usually different, and some people might actually appreciate trading currencies, as the activity might not match others’ preferences, personas or lifestyles at all.
Operate Forex without Risk Whilst Learning or teaching how to trade
– Beginners who are still learning how to operate foreign currencies frequently experience substantially even more assured putting their real cash in danger in the marketplace if they have an opportunity to try points away from 1st. A demo account allows them to place their training into practice in a near to actual existence environment without placing their genuine money at risk. This enables those to make common beginner’s mistakes while they find out without needing to spend for the effects out with their very own bank.
Practice Great Cash Administration Methods –
One of the secrets to taking pleasure in long-term success when trading forex requires learning to apply well-established cash administration concepts. A demonstration accounts allows a brand-new or skilled trader to practice such methods completely on true exchange rate actions and see on their own how the common benefits accumulate to their demo account in digital money earnings.
Find out to Control Your Feelings When Trading –
Probably the most difficult elements of trading for many people consists of learning how to control their psychological reactions to earning and shedding deals in such a method that it stimulates overall success. Dealing properly with normally regular mental replies to producing and losing cash – such as dread, avarice and wish – can often differentiate the effective fx investor from the loss.
Check a fresh Trading Technique Without Jeopardizing Actual Money –
Smart experienced traders and beginners as well will generally wish to check the achievement of any new trading technique they arrive plan before applying it in a live trading environment. This kind of enables them to accustom themselves to pursuing the program and also to function out any insects in it that may become obvious while using it as real exchange price movements happen.
Try Out a New Broker’s Trading System –
Unless you are utilizing the Mt4 system that a great deal of on-line forex brokers support, you will most likely want to make use of a demonstration accounts to observe whether a fresh fx broker’s private internet or client structured trading platform is usually ideal for your trading requirements.
Examine if a Fresh Broker Offers Useful Features and Solutions –
Fx Brokers keen to possess you open up a live trading account with them will frequently provide demonstration investors gain access to their unique customer features, educational and information services, and customer support departments. This can be a great method to examine your quality of the broker’s general solutions before carrying out any actual trading money to ensure they are the type of trading partner you will need keeping your accounts.
Broker news
Donald Trump blasts ‘fools’ who oppose good Russian ties


US President-elect Donald Trump has posted a progression of tweets censuring the individuals who contradict great relations with Russia as “‘dumb’ individuals, or nitwits”.
Mr Trump promised to work with Russia “to comprehend a portion of the numerous… squeezing issues and issues of the WORLD!”
His remarks came after an insight report said Russia’s leader had attempted to help a Trump race triumph.
Mr Trump said Democrats were to be faulted for “gross carelessness” in permitting their servers to be hacked.
In a progression of tweets on Saturday, Mr Trump said that having a decent association with Russia was “no terrible thing” and that “lone “idiotic” individuals, or simpletons, would believe that it is awful!”
He included that Russia would regard the US increasingly when he was president
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