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I can list more than three but one common mistake that most of us make is not learning from our mistakes. When we lose a trade we get sad about it and that’s it. We don’t actually try to understand what we did wrong or where we went wrong. Since we always hear how risky and unpredictable forex...

It would be difficult to find a teacher here since most of us are busy with learning ourselves. It would be best if you can spare some time to check out the pool of resources on the World Wide Web and study forex trading from them. Once you get enough theoretical knowledge you can get into...

Coinexx- average spread is 0.2 pips and commissions are $2 per lot round turn.

Knowledge is the base of forex trading whereas robots are tools that are preprogrammed to make trades on behalf of traders. Robots can fail at times, but knowledge never lets you down, so make sure you have spent time gathering knowledge about forex trading because it will last with you forever.

Both are equally important for trading forex in a profitable way. Yet, if you are a newbie then indicators are good for you. Price action is good for those who have deep knowledge to understand charts, patterns, etc.

Beginners should concentrate on studying all aspects of forex trading. Forex trading is both risky and difficult. It is not advisable to leap right into live trading. It is preferable to study first and then earn. Improve your talents and make friends with the market. Use a demo account to...

Trading strategies are a personal choice. Your trading approach should be determined by your personality type, amount of discipline, risk tolerance, available funds, and time constraints.

For the same reason you do research and learn the basics of any certain field to get a better understanding before you enter or start your career or journey. A forex trading plan helps you keep risk away, to an extent and gives you an outline of how your decisions should be made, when the right...

The only way to stay focused is to find patience and substance in the best strategy and approach which is brought on in due time with hard work. Successful forex trading requires constant learning techniques and a firm mindset to reach said goal.

@waylon1 I agree! It is very hard to find someone trustworthy when money is involved. Rather than having a mentor I prefer posting my doubts on forex forums and then pick the suggestion which seems relevant and useful to me.

You can try Coinexx. They are pure ECN brokers. They provide micro accounts with a minimum lot size of 0.01 lots.

Forex trading market is open 24 hrs for 5 days a week and you should choose a time that suits you according to your geolocation.

@sarahgoutvaks I totally agree! It is important that a trader work hard so as to gain proper knowledge without which it is impossible to make profits in trading.

Technical analysis is really important for trading. But traders should also consider the fundamentals of trading in order to be sure about the trades.

I totally agree with you, Forex trading is difficult and a trader needs to be very careful with his trading strategy and sure about it. And to be sure about the trading strategy backtesting is very necessary.

Small accounts are indeed the best way to learn about forex trading. I too started with $50 on coinexx and practiced with real money (even if it was a small amount) for a long time to make my risk management strategy strong. Small accounts also help factor in the emotional side of trading, which...

You are right. Forex forums are really helpful especially for the new traders. It helps them to interact with experienced traders and get help with their trading style.

I agree! Traders should avoid trading money they can't afford to lose. He should also use a risk management strategy using strong stop loss.

It took a while for me to be profitable in trading forex but today, it pays all my bills.

According to me, a beginner should stick to a demo account and practice as much as he can. He should avoid trading live initially and try to acquire appropriate trading skills.