It is possible to make consistent profits, but you have to trade harder and build a good strategy that has no flaws when going live.
And beginners should focus more on learning about forex rather than consistent profit because it takes a lot of time to gain experience to make stable profits.
I prefer EURUSD and GBPUSD as a safer currency pair to trade because there are fewer chances to make additional losses, and it is also popular among other traders.
I agree with Gilbert and Bennington on FP Markets. It is reliable because of its regulation with ASIC, and it also has an offshore licence with St.Vincent.
You find several brokers online, check if it's regulated and read about them on various sites or forums to get a clear picture of the broker before investing in it.
For example, I chose my broker FP Markets, based on reviews and ratings from various sites like Trustpilot & Forex Factory.
I had the same question when I was a beginner, and many traders suggest trading at the beginning of a major session, like the London any NY, which I still follow because those are the most liquid hours.
I consider FP Markets a reliable broker to trade because they have been active in the forex business for over a decade and regulated by ASIC, Cysec and St.Vincent.
It's been two months trading with them, and I have never come across any issues when live trading or during withdrawals.
I prefer sticking to Manual trading because beginners in live forex can trade with a lower balance so that the risk is also lower, and the beginner does not need to maintain a higher balance for his next consecutive trade.
I'm looking for a broker recommendation on a broker suitable for scalping with tight spreads and fast execution speed than my previous broker, pepperstone?
I'm looking for an ECN pricing regulated broker with regulation from ASIC as I'm from Australia and with good customer support to solve certain queries at the initial stage.