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All the points are very important to consider when switching between the trading strategies. It is essential to try different strategies in order to know what suits us the best.

Welcome to the world of Forex Buddy. Hope you are ready for a roller-coaster ride of excitement, losses and profits, and experiences.

Not possible, instead you should focus on finding a broker with low spreads and commission, and there are plenty of good options available like coinexx, and tradersway. Though, do your research before finalizing any broker.

Beginners need to build their minds towards understanding that learning takes some time and they need to be patient when they enter the market. If they open around one to three trades at a time, it gives them time to understand the market better and less stress while managing the trading process.

If traders don’t spend time studying the market sentiment, it is close to impossible to be able to pull profitable trades. Traders need to be adaptive and they should maintain a trading journal at all times. Learning from past mistakes will only help them master the tricks of trading to reach...

Unless one is highly experienced and extremely confident about his/her strategies, high leverage must be avoided because it can lead to huge losses. Also, when trading using leverage, one should implement risk management strategies to manage losses or avoid the account from blowing up. Keep in...

You’re right, money management is a skill in any financial market. It is something we all must focus upon; otherwise, failure is inevitable. No one can stop failures from coming in the way of our trading if we do not practise money management.

Hi, welcome to the forum. Good luck for your future in the market.

There could be ample reasons why traders lose money, the main reason being they trade without a plan, which leads them to impulsive decisions and they lose their focus. Managing risk and time is equally important, traders need to make sure they place stop loss as they begin. The risk is always...

Knowledge and expertise is important and required to identify previous high or low and reading charts. Without proper knowledge it is impossible to do anything in the market.

These are few of the best currency pair to trade for a beginner- EUR/USD USD/JPY USD/CAD EUR/GBP GBP/USD

No mantra other than your hard work works when you want to become a successful forex trader. Try to make the most of the market by staying updated with what is happening and how you must trade when you find a good trade.

Learn not just to make money but also to stay in the market for a long run. Trading will seem like a burden if you don’t understand the basic process and how inconsistent profits are. For that matter, you will have to be studious while grabbing the basics of the market.

Without trading manually, what made you think that it is time consuming and won’t work for you. I am not sure what you have in your mind but manual trading is still the best way of trading. It may not work sometimes but your automated system is also prone to failing. I am not saying that you...

I am not sure how many accounts you have blown so far but you should have learnt from the losses you made. I am not sure what happened but did you ever consider analysing what went wrong. If you haven’t done that as of yet, consider analysing your performance and find out where you need to...

Rushing in your trading career won’t get you close to your wins. It will instead take you away from what you want to achieve. Forex trading is a great career only if you can do it well. So, consider moving ahead step by step so that you are not doing anything beyond your understanding.

You have to understand that all that you see on social media is not true. Most times, it’s the fraudsters who make videos to allure innocent traders into believing ridiculous things. So, before you believe in something, make use of the internet to find all about it.

Trading strategy will improve by itself as and when a trader gains experience. A trader will need to work on their strategy and continue to improve it. We can consider other people’s strategies as an inspiration to tweak; we cannot use them in our trading.

If technology has made us advanced traders, it doesn’t mean that we leave our mental faculties behind. Both manual trading and automated trading are crucial; no one is better than the other. They both have their pros and cons, but when they are combined, they tend to minimise mistakes and...

As you are struggling for a long time. I would suggest you start practicing on a demo account. It will help you to learn forex trading in a more practical way.