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Fear, anger, impatience, greed are the most harmful emotions for a forex trader. These emotions paralyse their rational mind and they just make impulsive decisions that lead to losses. So a trader should never let their emotions dictate their mind during a trade.

In forex trading, there is no pet formula or planning for profits, you have to work on various plans and strategies for good results. Moreover, practice can help you in understanding various situations, hence in the future, if you face the same situation you can apply a strategy to overcome it...

There are various strategies for profitable trading, but I would like to suggest to you the general view regarding strategies, do not copy any strategy directly, firstly practise it on a demo account because every strategy has some limitations.

Well, welcome to forex, dear. I would like to clarify to you that every time is best for the beginning. Also, forex is all about your hard and smart work. So, achieve some basic knowledge about trading and work with good vibes. Best of luck.

Forex trading is a good way to make money online, but only if you are skillful. Personally, overall trading has been good for me. But I have had bad days where I felt like quitting.

A trading plan is important because it carves a trading path for traders. Think for a moment. How will you trade if you don’t know how much risk you want to take? Or when to end a trade. It is like wandering in a new city without Google maps. With a plan, you are not only aware of your goals...

The primary goal of successful money management is to maximise winning trades while minimising losses. It is a method of dealing with a problem of how much risk a trader should take in situations where there is uncertainty.

Robots are preprogrammed. So they can do limited tasks in trading. However, the forex market is unprecedented. The factors that can influence the market are also endless. Thus, knowledge of the market is paramount to become a successful trader to take informed trading decisions. But we can’t...

These are good points a trader can opt for limiting the risks. A trader can also place limit orders to avoid the losses due to slippage.

Scammers make forex trading look like a scam. Before starting trading, traders should study about scammers and the way they scam people. Usually, they will try to persuade you to buy some courses or signals.

I am using aaafx, works well for me. Most importantly the costs are genuine and I get timely payouts.

@Psychomancy The main reason they are negligent is that they focus more on gaining profits than gaining the right skill sets and understanding the nature of the forex market.

It doesn’t matter how many trades you make in a month. The thing that matters is how efficiently you are able to trade. A trader should be consistent in making winning trades to earn a good overall profit.

Automated trading allows a trader to trade even without being online on the trading platform. It works efficiently within the range that is set by the trader. So, the trader needs to change the range according to the change in the market. Secondly, any kind of technical error can lead to...

I agree! Still beginners should start trading with more stable currency pairs.

I trade because it allows me to trade from the comfort of my home and gives a high degree of flexibility.

Agreed! It also provides a strict path to follow in order to achieve the goal as a trader. Having a good discipline in money management allows traders to gain long-term success in trading.

I totally agree with your point and a trader should have an optimistic attitude towards learning. Forex Trading is a vast subject and it is almost impossible to study it completely. It is important that a trader has a fair idea about forex trading and how it is done.

I agree! I also trade EUR/USD when the New York and London Session overlap, i.e 8:00 am to 12 noon GMT.

Candlestick charts are very important for efficiently carrying out technical analysis which is used to determine possible price movement based on past patterns.