"The profitability of a trading strategy can be tested," added Mario. "A trader can either use back-testing with (historical price data or forward-testing with current price data, over a specific period of time. And I strongly recommend testing the strategy on a practice account before trading it live," said Mario.
During March, the top ten Forex trading questions (click the links for the answers) were:
1. Question from Subra: Since there is frequent news from the U.S. and UK, is it better to trade fundamentals rather than only candlesticks?
2. Question from Salwa: What does "buy the rumor, sell the fact" mean?
3. Question from Selcuk Benter: What are the reasons for Silver's price drop and what other factors affect its price?
4. Question from Aaron Loh: Which currency has the potential to drop faster, the GBP or JPY?
5. Question from Andrew: How much longer do you think the GBPUSD will remain bearish?
6. Question from Yurryse: How can I set a proper state of mind and defeat emotion before I start trading?
7. Question from George: Is it possible that some "trainers" overemphasize the need to follow a trading plan?
8. Question from Tapan Gill: What is the best way to employ swing trading strategies?
9. Question from Sree: How much monthly return can I expect from a USD250 investment?
10. Question from John Woo: What should I do when my trading strategy stops profiting?
Mario's popular blog, his weekly market webinar, his daily and weekly market reports and his new ASEAN market review provide some of the best-informed directly-accessible educational resources that new and experienced traders can utilise to improve their knowledge of Forex and related investment markets.
Have a new question for Mario? Then ask him online at AskMarioSingh.com and sign up to receive Mario's Forex Answer of the Day, by email.
ABOUT MARIO SANT SINGH
Mario Singh is the Director of Training & Education at global retail Forex brokerage FXPRIMUS. He has appeared as a guest expert on CNBC more than 35 times to talk about foreign exchange markets, and is a regular contributor to top investment publications and online portals. Known as a brilliant and intense communicator with a unique ability to 'keep Forex simple' and a mission to help every man-in-the-street to trade profitably and responsibly in the Forex market, more than 20,000 people have attended his Forex trading programs. He is the only Forex trader in Asia invited to train Julius Baer Private Bankers - the third largest Swiss Bank, and ICBC, China's largest commercial bank. Mario is also author of the best-selling book, 17 Proven Currency Trading Strategies: How to Profit in the Forex Market. (Wiley Publishing).
FXPRIMUS offers retail traders a level of trade execution, service quality and fund safety that are normally reserved only for the largest investors. Serving traders in 205 countries across 6 continents FXPRIMUS combines an unmatched level of fund safety with regular independent audits of company financials and Straight Through Processing, top notch execution with tight spreads, prompt and responsive customer support, ISO 27001 certification in Information Security and an industry-leading trader toolset that includes free access to powerful trader tools and personal coaching via FXPRIMUS Coach FXPRIMUS truly is The Safest Place To Trade.
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