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Both are important, and both come with their own set of pros and cons. To say that one is better than the other might not be a good idea. A combination of both might work the best. But it depends on you what you prefer.

The forex market is extremely volatile, with numerous factors influencing price movement. In just a few weeks, you'll be able to understand the basics. To gain money, you must continually analyze the market and keep up with global developments.

@Genetrix Forex education has an important role in trading forex profitably. To understand the practicality one should practice on a demo account first so as to consolidate his theoretical knowledge with practical knowledge, and then move on to a real account. The main difference between a demo...

A beginner should trade with major currency pairs with heavy volumes. The best currency pair for traders is the EUR/USD.

If you are a beginner you should open only one trade at a time, and focus on that single one. When you have gained some experience after several months of trading, you can open at least two pairs at a time simultaneously. If you are an experienced trader, well then, our judgements and opinions...

Trading psychology remains one of the most important topics when it comes to trading and forex. It can make one rich or make one poor, all of which depends upon the psychology of trading or trading psychology.

Be patient and stay focused on the bigger picture. Invest small, then grow your account. This helps you understand the market better and saves you from unnecessary risk. Stay updated on latest news and events and remember, only with time, can you receive rewards. Enhance your skills and maintain...

Newbies generally enter the market blindly which only puts them at a loss before they even start trading. No proper money or risk management which results in blowing up accounts. Less or no practice or basic knowledge due to lack of research and learning capacity. There are no shortcuts in...

Dedication is directly proportional to patience. Patience and dedication are the virtues of forex trading that let you learn the concepts of forex and wait for the right time to start trading live.

Knowledge is the primary need of forex trading. Robots can help you in making profits. But for making consistent profits in the long run, learning to trade manually is very essential.

It takes time and effort to be a profitable trader. There will be times when you come across losses and might think of giving up, but don’t. Tweak your strategies, control your emotions and trade with positivity, and you shall turn the tables around.

The best tip that I can give to a beginner is to never let your emotions dictate your trades and never underestimate the importance of risk management.

No one does! It is so vast that no one individual or player can control it. There may be major businesses who can manipulate it, such as banks, but no one controls it.

You need a forex trading plan to ensure that you are able to have some structure and balance while trading. It is essential for a trader of any stage, regardless of how confident you may be. Definitely try to have a good strategy and plan.

I’d suggest you study and understand all about forex trading. You can also prefer to take trading courses. You’ll only be able to make profits if you have a good amount of knowledge and good trading skills.

I agree! Trader can’t make a profit if he doesn’t have appropriate trading skills and good emotional health. Traders should practice enough and gain knowledge so as to acquire these trading skills.

I am using VPS with turnkey forex, works fine for me good part is i am paying nothing for that.

Trading forex is not that easy. Trader needs to learn and gain all the trading skills including having a good trading psychology in order to be profitable. One should not hurry to trade but take small and effective steps towards learning and then earning from forex trading.

I agree, having the right trading strategy is very important and a trader should be very wise while choosing one for him. It’s good to experiment and keep modifying it till it suits your style completely.

With the help of EAs, traders can trade for 24 hours and open and exit trades automatically. As a trader, you can program your bots, which can be used to execute complex trading strategies. But it is only beneficial if you have some knowledge of technical analysis.