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Forex is not stressful if you have proper knowledge of the market. Half market knowledge can be very stressful for you.

If you completely rely on forex signals then you can lose all your money. It is important to develop your own trading setup.

You may gain so much from books and lay a solid foundation for your further growth as a forex trader. Reading good books not only enhances the knowledge but also helps in developing your skills. Benefits of Using Price Action Within Your Trading Strategy by Vin Castillo is the book I used to...

Yes and numerous traders have made money utilising the Forex markets but there is also the other side of the story. Many more traders have lost everything due to failure. You should be aware of a few things if you want to start trading. It is a zero-sum game to trade. This implies that there is...

Yes! They are important for the success of a trader. Every trader needs to choose their own trading style wisely; they choose their trading style by following others, and sometimes, it is blind following. Patience could also be added to the list, as lack of patience makes many traders leave...

In my honest opinion, they are: Lack of seriousness while trading Looking for that ‘one’ perfect strategy Using too many indicators when two or three are sufficient

The learning period for a beginner can be prolonged and the learning curve is different for everyone. You don’t really need a mentor in my opinion. Most of the successful forex traders that we see today are self taught and they get better with experience. So, keep on trading on a demo account as...

Without a doubt, the trend following strategy is more reliable than the breakout strategy. The breakout strategy works great in trending markets, but will fail miserably in the sideways moving markets. On the other hand, the trend following strategy has a low win rate, but also a low drawdown...

The best time to trade in the forex market is during the New York and London Exchange Crossover hours which occurs from 8 a.m. till noon EST. This crossover period is marked with high volatility and trading volume, which, if a trader has proper trading skills, can make good profits from.

I’d only suggest starting small. Don't try to trade with too much money right away. Start with a small amount of money and increase your trading size gradually as you become more comfortable and confident.

Trading is a mind game. If you can handle the way you react to situations, you can have a trading career you have always wanted to have. Just don’t copy anyone and make trades as per your understanding.

Lack of knowledge and curiosity to know how other traders have been making money in the forex market have to be the major reasons why a great number of traders lose money. It’s important to note that every trader has his own pace and they will make money only if they learn.

1. Know what you want to trade 2. Learn how to read charts 3. Practice trading 4. Be patient 5. Have a plan

Without hard work and smart knowledge, no one can get success in the forex market. Your mind must be very adaptable because forex is a very dynamic industry.

Well, initially as I read the question, it was difficult for me to answer it. I gave it a second thought, and I must say, yes, I do love trading. Earlier I used to get frustrated when I faced loss, especially during the starting days. But naturally I accepted the fact that loss is unevitable, I...

As a beginner, you should learn about risk management first. It is one of the most crucial aspects of trading. Try reading books on risk management or following online courses. WIthout proper risk management, you can lose all the money you have made from profits.

I think both. If you’re knowledgeable, you will be able to thrive while trading. EAs are helpful upto certain extent. But for achieving profits in the long run, one need to have excellent knowledge.

Demo should be the first step towards trading practically. It helps traders to create, apply and backtest their trading strategy to achieve an edge.

Risk management is the basis of trading. As there is nothing telling you what you should do and what not, it is you who has to take the responsibility of the amount of risk you take per trade. Know your risk appetite before you plan to make a move. You don’t have to lose more than you can afford to.

It doesn’t really matter what steps you are following per day. What matters is how disciplined you are and how well you understand all that you are doing. Your trading psychology has a role to play in this. So, better work on your emotional stability too while you prepare yourself for the market.