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Do not hurry to do something that you will have to pay for in the future. Understand that you have to test things first before you start doing something completely different. Of course, automated trading will make you learn so many new things, but you cannot depend on that until it works for...

There are many mistakes that newbies make when they enter the market such as ; over-trading, no control of emotions, no solid game plan or strategy and they refuse to learn from their mistakes. Such issues will make it difficult to survive the market conditions efficiently. Traders need to...

Yes, but then when there is loss, there is also gain, in terms of knowledge. The traders ability to analyse the market sentiment counts here and that is how they can strategize to make good profit in the long run.

Forex trading can be a very profitable investment, but it is also a highly risky one. Here are three common mistakes forex traders make with their trades in my opinion: 1. Failing to understand the market conditions 2. Making impulsive decisions 3. Not taking into account the risks

Scalping being high frequency trading can trigger emotions and hinder the trading decisions. It is important that the traders has a good trading psychology.

Technical analysis is a necessary skill for traders. It assists you in determining market direction and making predictions about the market's future condition. Thanks for sharing your valuable insight.

You can determine the best time to trade based on the currency pair you are trading. It is dependent on factors such as the currency pair you are trading, the timezone you are in, and so on.

I must say that you have listed some great options. I too want to make my contribution to this thread by sharing one method that in my opinion is not only reliable but also doesn’t require a deep knowledge of the subject and that is copy trading. I’ve been earning decent profits by copying...

Commitment! If you are committed to the cause, you stretch miles to make the most out of it. Many traders lack this. They are not serious about this profession and end up losing.

So, it’s been almost a year for you. How are things going on?

Focus on strategy formulation and risk management. These are the two most important aspects of becoming a successful forex trader.

Trading forex takes a lot of hard work and patience to be profitable into the foreigh exchange market. With proper discipline you can make good money.

Due to the lack of knowledge, patience and willingness to learn, a big portion of traders lose money in the market. A successful trading career requires a lot of hard work, patience and discipline.

Everything changes with time. A strategy that is fruitful now may fail in the future. A market situation that is filling your pockets may end soon. This requires an ongoing learning attitude that will help you stay on track and make great returns with time.

The best mantra is no mantra. You don’t have to stick to something because anything can turn the tables for you. You have to keep adapting to the changing market and change your strategies and plans whenever required.

A lifelong passion of mine is trading. It has demonstrated to me the possibility of making a large amount of money with even a modest investment.

Even though they can improve our understanding of the market, indicators cannot predict how it will act. In addition, the usefulness of an indicator depends on your trading approach. Like I use bollinger band and RSI to confirm the trends.

For inexperienced traders, stop loss is worth it because it helps them save most of their capital and still make profit. Many traders don’t use it and win. It depends on the approach and how the trader manages their risk.

Without following a plan, you will be in constant stress because you will not know what to do next. It is crazy that so many newbies leave the market because of silly errors. Hence, hard work is important and so is making each minute count. A trading plan helps keep focus on managing risk and...

For basic forex education, the internet is full of good websites like investopedia, balance, and babypips. There are forums like myfxbook too that will help you in getting well-versed with the reality of trading as traders constantly keep discussing their trades, strategies, and issues.