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Trading forex on a demo does not develop right trading psychology and when a trader switches from demo to live it becomes very difficult for him to adapt to the real trading environment.

The process of trading is one that is both challenging and time consuming. One must put in a lot of effort to improve his or her knowledge and skills. You will not be successful by taking any short cuts. In fact, taking shortcuts in your trading career can be detrimental. Exercise patience, but...

Agreed, also found fxview, xm and xtb good for trading.

To get experience, knowledge is necessary. If you don't learn, you won’t make mistakes which prevents you from understanding what works and what doesn’t. Traders who enter the market clueless often fail because they do not know when to make moves to get profit. It is the most important step.

You can practice on a demo until you feel confident enough to move to accepting loss. I practised for 6 months and nothing prepared me for the risk that awaited once I started live trading. See how long it takes you to backtest and practice until you get an idea. Good luck.

The market risk in forex trading is a result of the volatility and unpredictable nature of the forex market. This volatility is also an opportunity to make profits for traders. So we need to surpass the risk in order to receive rewards in the form of profits. Risk management is the only way to...

I think having a healthy body and mind is a must for a forex trader. It is better to take a break from trading if you are exhausted and not feeling your best. Trading is a task that demands 100% focus and attention from you. If I am unable to concentrate on trading because of an illness, then I...

I personally prefer scalping. But you should not pick a strategy just because that is working for someone, it might not work for you. Be wise enough while choosing a trading strategy.

Part-time trading is a great option for people seeking extra income. But even trading part-time requires knowledge and skills.

I find forex trading unique because what we count as the disadvantages of forex are also the advantages. Where volatility leads to aggressiveness in the market and makes it difficult to either enter or exit it, liquidity increases the competition, and high leverage increases the risk...

Imp, every single point given below has a significance and a small mistake can result in losing the trades. Trading plan- having a well calculated plan is must to determine the entry and the exit points, position size. Strong money and risk management- use of certain tools and techniques to...

Honestly, I don’t care much about deposit bonuses. A broker should offer good trading conditions and must be regulated. My broker Fxview offers a 100% deposit bonus but my reason for signing up with them is that they offer lower spreads and easy withdrawals.

Discipline is vital to succeed in forex trading. If you don’t have discipline, you’ll end up losing money and blow up your trading account.

It depends on your trading style and risk appetite. But usually one can use about a couple of weeks to a month or two depending on how often you trade. Just get familiar with the system, the types of trades, the signal providers, everything. Then, when you have the confidence, begin with live...

Scalping is a short-term trading strategy. It is based on the idea of taking small profits by holding trades for short periods of time in order to increase the profitability per trade. It is possible to make large profits on small price moves with this method.

Yes,it can be stressful. If you are trapped in stress, It can lead to poor decisions and make you over-trade. You must have the discipline to follow your trading plan regardless of what is going on in the markets to avoid stress. That is true in the long term, however, in the short term it is ok...

Forex is one of the most challenging, yet rewarding disciplines in the financial world. The reason why it's so tricky is because currency prices are influenced by a large number of factors. Furthermore, are subject to constant change and adjustment. When it comes to trading Forex, the key is to...

Professionalism is impossible without skills, which can only be learned and practiced. The majority of professional traders have obtained their professional badges following years of practice. New traders should also practice patience and concentrate on improving their skills while trading.

Timing is crucial in trading. Successful traders are patient. They understand how to manage their impulses so that they can act when the time comes. Rather than acting on a whim, they painstakingly design and closely adhere to a specific trading plan that specifies precise entry and exit...

It isn't, most of the time all you’ll see when you trade is loss. That’s it. This is because you’ll be essentially gambling in the market. That's a deadly thing to do.