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I think they are more negligent about the importance of having proper understanding and learning about forex trading and the market. They enter forex with misconceptions of earning large amounts in a relatively short period of time and end up blowing the whole account.

Thank you for sharing this valuable post. I believe trading skills can be acquired more easily than acquiring good trading psychology. Traders should focus more on developing proper trading psychology.

Currency pairs are categorized into three categories: major, minor, and exotic. And there are more than 70 currency pairs, but not all of them are tradeable. A good pair has high liquidity and medium to low volatility. Out of the three categories, major pairs make the best pairs. For starters...

I agree! For traders to make efficient trades patience is very important. Moreover, studying the vast concepts of forex trading requires a lot of hard work and time which can only be done by a patient trader.

I’d suggest you read “Forex Trading- The basics explained in simple terms” by Jim Brown. It is a really simple and informative book.