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Forex trading is very profitable if a trader trades with important tools and plans. Also, some important tips are as follows. Build plans and strategies using your knowledge Develop your skills with practice to manage risks Avoid emotions and trade with patience.

To be a profitable trader, you need to upgrade your knowledge and skills. Keep a sharp eye on the latest market trends. Invest your money strategically. Remember, trading is risky. You must learn about risk management.

Generally, traders trade when the market has the maximum liquidity because then, they can avail more opportunities. So, that time would be when London and NY sessions overlap. So, this particular session can be tried.

Traders should always take risk management seriously. They should consider using stop loss or trailing stop loss. Traders should not prefer trading if the risks are very high.

As I trade GBP/JPY, I prefer trading between 8:00 am and 9:00 am GMT as the Tokyo session and New York session overlap.

Your strategy is an integral part of your trading career. This means that it has to be the best in accordance with your trading needs. So, instead of settling with the first strategy you learn about, make sure that you test several strategies until you find the best one for you.

You are free to execute as many trades as you want to. Just make sure that you know which way you are taking your career and if it is in line with your trading goals.

Financial freedom is the reason why I trade. It has also given me the freedom of time to travel and explore new places.

TurnkeyForex is also worth trying. I’m using them for forex and commodity trading, fees are quite low.

Quality of trades is more important than the quantity of trades. And Dedication helps a trader to keep moving on in rough trading situations.

Following the trading plan strictly is very important for the trader to gain success in the long-run. Traders need to be disciplined enough to stick to the plan.

You’re right! For being a professional in trading, traders need to gain good trading skills and develop a good emotional balance.

Well said! Trading skills and knowledge can be learnt from books but emotional control comes from your life experiences. Try your best to analyse the market before making a trade.

Bad results in forex trading are a result of bad efforts. If you have not been making profits even after spending a couple of years in the market, you probably need to introspect. You need to go through your past trades to get an idea of what needs to be improved.

I hope that you know that you will be taking risks every time you trade. But how far you want to go to take a risk is what risk management helps you with.

The money that you put at risk is yours. So, be mindful because the goal is not to lose all that you have while trying to make what you don’t have. Money management helps you with exactly that.

I would refrain from saying that you need to spend a particular amount of time learning. Just take your own time until you have learnt all the basics, practised different strategies, and used various indicators. It’s not a race that you have to win. It’s your journey and you are free to take as...

Well, it depends on the strategy you are using. If I am scalping, I would open my positions for a while and close them. But if I was using the swing strategy, I would wait for a longer time to close my trading positions. So, it’s best to find a good strategy and set rules for closing trading...

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Top 5 best pairs to trade- 1) EUR/USD 2) USD/JPY 3)GBP/USD 4)AUD/USD 5)USD/CHF