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Join a good learning environment to learn about the market properly. Remember that you must first gain sufficient knowledge before you can expect to make money in the market.

I would advise you to make 10-30 small trades per month. As a beginner, work on developing your trading psychology. This will help you make trades rationally without involving any emotions.

Hi there, you may find yourself dealing with many losses but it’s part of the learning process. Learn all you can and try to make the best you can out of each opportunity that comes your way. Strategise and analyse the right way to approach the market, practice on a demo if you must and gain...

You formulate a trading plan once you analyse the market sentiment so be careful and watch the news in order to figure out the right time to time your trades. If you go off track, then it can be quite difficult to find discipline but passionate traders don’t give up.

You should always start trading with a major pair. I was only trading with EUR/USD when I was a beginner and I think most new traders prefer the same pair. Newbie traders are always advised to focus on just one pair and move to other pairs only after mastering the first one.

The Ichimoku cloud may seem complicated and intimidating at first glance as it uses many calculations. But this makes it more reliable and powerful as well. Many traders often have a hard time using it but it is a very versatile indicator that can be helpful for beginners as well.

I agree! New traders need to learn all the aspects that contribute to a successful trade and practice trading on demo first. They should always start trading with a small deposit amount.

Imo, newbies should avoid trading with EAs. They should learn trading manually and gain experience for success in the long run. EAs are not 100% reliable as they have certain limitations.

Hi there, welcome to the forum. That depends on your plan and where you’re located. Check the timings of the market when it’s the most active and take a call accordingly. Everyone has a different end goal. It won’t match yours.

You will lose money if you don't follow a plan and stay organised during the trading process. Many newbies continue to trade even when they lose, this can cause an increase in risk. Learning from mistakes only helps traders get smarter at making decisions.

Hello there! Good luck on your future endeavours!

I am sorry but manual trading is much less stressful than automated trading in my opinion. You are in total control of your trades and the only thing you need to do is manage your emotions while trading. It is normal to feel stressed when you start out as a beginner. Learn to deal with the...

All of the indicators that are listed by the OP are quite useful and the best indicator just depends upon the personal preference of a trader and which one works well for them. But we must be doing our own analysis at times as indicators cannot be 100% reliable in all market situations.

Both have their pros and cons. It is recommended to rely on manual trading. It will help you to learn the real trading and see the real side of the market. Manual trading will help you in polishing your skills and knowledge as a trader that automate trading cannot.

Thanks for sharing useful pointers. Trading skills and psychology are the key for successful trading.

It is important for a scalper to opt for the system that has high execution speed and lesser chances of slippage.

Thanks for these useful tips. Keep posting this type of stuff. It is quite useful for beginners.

Hi, this is a good question, identifying previous highs and lows only gives you an idea of the past history data of transactions you have made where if there was a mistake, you could learn and rectify it. If you still have doubts, spend some time researching. Good luck!

Hello, first you must learn on your own to get a generic idea of the market and its functions. There are a lot of learning materials online, browse through them. Also, practice on a demo account so you get a vague understanding of what happens during the trading process. Take your time, learning...

In my opinion no one remains a loser forever unless they give up and quit. Those who are determined to give their best will always be successful in the end. We just need to keep on trading and never quit even if we face losses and setbacks in forex. Trading is a skill that has to be developed...