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The first requirement for earning more money is to learn. Nobody can deny this reality. To earn well, one must first learn well. Develop skills and gain experience to make profits in the long run.

These are some great tips for beginners to keep in mind. Money and risk management while maintaining discipline is important to sustain the tough market environment and bring in profit returns.

I think approaching the market with the intent of earning huge profits is not right. Learning from losses and trying to improve everyday is what counts. I've been trading for a few months now, so far I’ve been using the buy low, sell his strategy. It's working fine for now but I’m planning on...

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It is a matter of personal preference but my advice to a newbie would be to learn manual trading first before anything else. You should have a sense of what you will be actually doing as a forex trader even if the process will be automated later on. Having some experience in the market is...

I believe that price action is the foundation for technical analysis in forex. A beginner must pay attention to price action first before using other advanced indicators. You are free to use them as well but understanding price action first can help you a lot in the long run.

Just stick to trading major pairs. That’s the safest option you can go for. But please remember that no currency can be fully safe and you will need a tight risk management plan to make trading less risky for you.

I think self study would yield much better results than taking up a paid course for forex trading. You will see many mentors and coaches who are making money from teaching forex trading. But we can never be sure whether these experts are profitable themselves or not. So, it is better to seek...

Demo trading should be your next step after you have learnt the basics of trading. But don’t depend too much on the results you get on your demo account and trade with a micro account to be more familiar with the live market.

I don’t because I don’t think that it’s that easy to find someone who will help you with your trades. Nearly all the mentors you will find these days are there to draw money from you. So, it’s best to learn on your own.

There are not many reasons why traders lose money. The most common reasons include no or lack of knowledge, wrong idea of the concept, greed, and market fluctuations. Now that everything is not in your hands, you better not expect to make profits all the time.

Risk management is more like an art to keep you safe from the unwanted losses that are a result of uncontrollable market fluctuations. If you are mindful about using your money, you will automatically save your money.

I would advise you to start by learning price action in order to decide upon a strategy. I do have a strategy that I follow but also look at the indicators for making timely decisions as I trade. Finding and using a combination that works in your favour would be the best approach in my opinion.

I think the learning experience is different for every trader. So, it is better to learn things from your own experience since something that worked for another trader may not give the same result to you. Still, I can advise you to pay at most attention to risk management when you go live and...

No tips would work for you if you are not ready psychologically. Be it risk-taking or accepting a loss, you have to work on your mentality because that’s how you can stay in the market for long.

If you can control your greed and fear, you can achieve anything in the forex market. You will be able to stick to your money management plan only if you can control your emotions. So, first build the right trading psychology and then, expect anything.

It helps you analyse the market depending on the trend you choose to follow. Understanding past patterns can help you predict future movement and make your move accordingly. Knowledge is alway helpful.

Testing your strategies on a demo account is worth it as you have time to revise or make any changes before live trading. It is important to spend time practising to get an idea of what would happen.

We often see people claiming to be a forex expert or pro trader, who lure people in by promising huge profits. Those who choose to trust such scammers would only regret it in the end. That is why we need to educate ourselves before blindly following anyone. You cannot expect to get success that...

Thank you for sharing this post. The only thing I want to add is never stop learning. It is definitely not easy to attain long lasting success as a forex trader and we must keep on learning from our experiences to reach that level.