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Based on the currency pairs, we can determine when to trade. For instance, I typically use a 20-minute time frame while trading EURUSD, and I like to use London and New York time.

Learn to keep patience. Keep a trading journal so that you know where you need to improve. Try different strategies and learn to grow. Avoid shortcuts and stick to your trading plan.

A newbie’s goal must not be making money but finding the best trading strategy. Profits don’t start coming in from the beginning. You must keep patience to keep trading even if you have not been making profits. Focus on learning and obtaining trading skills.

Lack of discipline, practice on a demo account, and knowledge is the reason why the majority of forex traders lose in the forex market. Along with these reasons, I think using leverage without proper risk management gives rise to losses that are often hard to recover.

A stop loss is essential for preventing losses in the forex market. They help a trader prevent heavy losses. But it does not mean that stop-losses will always work. Poor liquidity, reading halts (being stuck in a position), overnight gaps, etc., are some circumstances where stop-loss might not work.

Well said. In fact, a part of the fault is on the side of traders as well. In this generation, none of us are unfamiliar with the fact that never to trust a site or an offer that seems too good to be true, much like claims that you will get millions if you follow up my course and trading...

Besides learning from the forum section, you can also buy some books about forex risk management, and learn it thoroughly. These two are my personal favourites - Risk and Money Management by Wieland Arlt, and Foreign Exchange and Risk Management for Forex Trading Beginners by J. R. Bosanko