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It differs from person to person. Demo trading is the route you ought to go in this case. Gaining practical experience and self-assurance are the two primary benefits you'll reap from this experience.

Much obliged for sharing and broadening the knowledge base. Will this strategy also be profitable with a 1H time frame?

Yeap, coinexx is a good one, extremely satisfied with the trading conditions.

Too many so-called forex gurus make the bold claim that they can turn you into a millionaire by teaching you how to trade in the foreign exchange market. But you shouldn't take these fake gurus seriously. They all are fake and here to steal your money.

Thanks for such helpful posts. I appreciate your hard work for taking the time out to list all these informative points.

Why should you pay when you can learn everything for free? I’ll suggest you to go for the free courses offered by Babypips and Udemy. They are highly beneficial, informative, and most recommended by traders.

I also believe that a new trader must not trade a lot of currency pairs as it may divide the concentration and keep you from trading any of these properly. Better trade one currency pair at a time and when you have gained some experience, add more to your portfolio.

When you are about to begin your trading career, make sure that you don’t expect anything. First of all, you must see what trading is and build your trading strategy according to that. It would take some time and you better be ready to keep patience until you reach where you want to.

You won’t find the best strategy until you use all of them. Try your hands at every strategy that seems good to you but don’t make a decision until you use them.

I don’t think that it would be a good decision for a newbie to use forex robots for trading. You may feel that it is easy to make money but it won’t be effective until you are a manual trader. It will be useless to use a bot if you can’t analyse its performance.

Hey, how are you all? If I tell you about my experience with indicators, it hasn’t been that well. I prefer price action strategy over everything else.

No one can tell you a way to become profitable. You have to find your own way on the basis of what you learn from your own market experience. Take forex trading seriously and you will yourself be able to find the right methods of trading.

Your reason for moving to automated trading doesn’t satisfy me much as you seem to not have obtained enough experience in manual trading that would have helped you in setting the right instructions for automated trading.

You might already know that in spite of so many strategies available, not all traders are able to find profitable strategies for themselves. This means that you will have to learn well to be able to develop your own strategy that will help you make the profits you expect.

As a beginner I don’t think of making money so soon. I believe your account grows gradually as you gain experience. Improve your trading abilities and knowledge. Manage your risks and adjust your trading strategy based on current market conditions. Forex trading research is true. If you take...

Much needed information. Thank you so much for this. I must say that you have done proper research and you have a good knowledge. This will be really beneficial for the beginners.

Here, we can only guide you. Learning is your own path. Develop a basic foundation of the market. Research thoroughly. And practise a lot on a demo account. If you don’t know any courses, babypips.com is a good place to begin with.

They fail because they have insane expectations from the market. And the premise of all those expectations breed because of their lack of market knowledge. Forex is not some game where you bet all your money and become rich overnight, and many don’t get it. Hence, they fail.

Make the best use of both. Automated trading can help you avoid repetitive tasks and trade 24/7. However, as a trader, you can analyse the market better and make more informed decisions than an automated system can.

Yes, the forex market is legit, and you can make money from it, provided that you have the correct trading skills for it. Technical & fundamental analysis, risk & money management, and planning are some of the skills you need to be good at to become a successful trader.