Recent content by Louisfx

Risk is something that cannot be separated from forex, ever. I am not sure if it is the most risky business in the world. But it probably is.

Yes, discipline makes a trader stick to the trading plan and work accordingly. Moreover, a disciplined trader is emotionally more stable than the traders who are not disciplined.

Yes exactly!

To be a professional in any field, it requires several years of hard work.There is no shortcut. You need to develop your own strategy then you need to put it in practice what you have tested. You need time to practice, time to make mistakes, learn from those mistakes and you need to drill a lot.

Yeah, only by holding yourself accountable and remaining disciplined at all times will make you able to achieve your trading goals.

Yes exactly! That's the foundation after all.

Excatly! The most important part it is.

It’s always recommended that before jumping into live trading, one must experience demo trading until you master the art of forex trading. Listing down a few benefits of demo account: Learn to trade forex without any risk Practice good money management techniques Test a new trading strategy...

New forex traders should focus on learning rather than about winning and earning money. Practice on a demo account. Observe market dynamics such as how price moves, how momentum and volatility shift, how time factors into all price movement.

Rtaher than forgetting about losses and moving on with new trades, it's always advisable to analyze your bad trades and learn from the mistakes.

If you know how to handle forex using your skills and strategies, then yes, you can get money and status both.

Reason why people lose money: Not following money and risk management Do not know how position sizing works Do not have proper trading strategy Overtrading

Agreed! It's all about managing emotions after all.

Use demo until you feel confident enough to trade on live account.

I think all trading markets are challenging just like forex. It just needs proper knowledge to conquer the forex world.