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Little preparation and a huge lot of expectations is a deadly combination. It’s fine that all of us want to win but there is no point in taking the risk when you lack basic knowledge and skills. Become a deserving trader before expecting much.

You should prefer to trade if you are mentally and emotionally fit and if you lack any of these, trading is not possible. One can trade, though, but that would result in loss and nothing else.

If a trader knows how to use high leverage along with good risk management strategies, a trader might save them from potential losses.

Any strategy can become the best strategy as long as you are using it correctly. I mostly prefer reading price action patterns. I use two indicators along with my price action to be more accurate of my prediction - the RSI and the Average True Range.

I won’t suggest anyone going after such indicators, they are not reliable. Instead, upgrade your knowledge, develop your trading strategy and be patient. Making consistent profits in the long run takes time, focus on improving your skills and success will follow.

These gurus only want your money; they are not concerned about the loss that you face. At the end of the day, they will enjoy what you have given them; you will suffer. They deafen their ears and blind their eyes to the suffering of such people. It is playing with the hopes of such people.

Many newbies completely lose focus of their end goal during the process which just makes their journey harder. Sure, traders should keep in mind all the above mentioned tips but they should also know how to find a balance between their personal life and trading. That is how one keeps their...

You can check out YouTube, there are many channels that give details about any concern you might have as a beginner. Learn from your mistakes and make better choices by upgrading skills and learning on the go. Do not worry, patience does benefit.

The earlier you would expect to make profits, the earlier you will lose your money. Start with a small account but don’t expect it to get you a big profit. You have a long journey to take and it would be best if you control your emotions.

Lack of knowledge and experience are still okay but traders who are not ready to accept losses often have short-lived careers. Not knowing something is one thing and accepting that you don’t know everything is dangerous. Such an attitude often becomes a reason behind failures.

Risk management is more about controlling your mind so that you don’t make decisions that you haven’t thought of well. You may or may not make profits but if you know risk management, you will not lose more than you can afford. Your decisions will solely be based on risk appetite and you will...

There is no guarantee and when there is, it’s not genuine when it comes to forex trading. When the market is moving all the time, there is no way that you can get accurate with your market predictions. You will have to take a loss no matter how hard you try.