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Discipline your mind; the need for motivation will fade away soon. Until you develop that, you can consider the temporary motivation to trade for a while (but you cannot depend on it forever). Discipline is the key that can make you a successful trader. For that, understand the importance of...

The characteristics of different pairs vary. All pairs move differently, and their volatility and liquidity differ. Some pairs have greater liquidity than others. For example, EUR/USD is the most liquid pair, accounting for more than 80% of all trades. Each pair necessitates a unique approach...

Well, I don’t think it’s a problem as long as your funds are safe with the brokers you choose. Like I have accounts with 2 brokers, fxview and FXTM. It is a good practice for diversification and also for separating your strategies. But yes 2 or 3 would be maximum imo.

It makes no difference what college degree you have. As long as you have information and knowledge on Forex trading and how to make good trades, you're ready to go. It all depends on how fast you learn and how skilled you become in order to profit in the face of risk and high volatility. The...

Partying is an expense and forex is an investment. So I would definitely choose forex anytime. And it is something that I enjoy.

Of course. Forex is a global market and every big political event occurring anywhere in the world will have an impact on it. As a result, in order to make effective trading decisions, a forex trader must be aware of a wide range of news events. The market becomes substantially more volatile...

That’s right. Forex trading is quite challenging and hard. One of the most difficult obstacles I had as a forex trader was managing my emotions. These emotions impair our ability to make sensible decisions, which is inconvenient. Greed causes us to overtrade, while fear and worry confuse and...

Well, the market is closed on weekends and Mondays will start with the weekend gap. So, we must wait for sometime before entering a trade on Mondays. Other than that, I don’t think there is any worst day or best day for forex trading. You just have to enter and exit trades during the best...

I agree with all your points, and tbh, I followed the same to find fxview and hycm. The combination of regulations and good trading conditions works the best.

It’s not a good idea to be afraid of the risks you may have to face in the live forex market. They are the steps that you have to take no matter how high they seem to be. A risk management strategy makes it simpler for you to get through these losses and stay on track.

As the market is always moving, it is not easy to be accurate with your predictions. Entering the market is still easy but exiting it at the right time is what is difficult as you may not know for how long you should stay in the market, regardless of the results you have been getting. This is...

There are many individuals who suffer loss and then do not know how to recover and resume trading. They often give up and walk away from the market. This only causes them to continue to live in doubt. They do not learn from their mistakes, hence they lose out on good opportunities. Try to pull...

When a trader’s plan keeps failing, there must be something wrong with the scanning and analysis, which is why constant loss. If the trader doesn’t understand how to revise their plan and just trade for the sake of covering up their loss by trading more than necessary, they should take a break...

Don’t see losses as the end of your career. They are just a lesson that your books didn’t teach you. Instead, work on improving your strategy so that you are growing with every trade you execute.

According to me, it is a difficult task to do and you are planning to take a big risk by depending on it for your living. Just like the market, trading outcomes are quite unpredictable and you better don’t do it until you are making a huge income with it.

If you want to gain experience in FX trading, you will need to start by learning and understanding the market sentiment firstly. Without this information, it will be tough to analyse and scan the market for a potential opportunity to be able to minimise loss. Learning is the first step, it is a...

When the end goal is success, there will be a certain element of risk involved, in this market, high levels of risk. I believe no one likes risk but if you want to earn profit, the best way to control it is by applying risk management strategies to your plan and by making selective moves. Manage...

Knowledge gives you the power to keep your trading career on track. You don’t find an easy way of making money. You have to pave your own way and follow it strictly. Distractions equal to losses. So, better be careful.

Not being able to stop your greed and fear from participating in your trades is tough. But if you don’t do this, you will make losses that don’t go beyond your appetite but understanding too. You may not win all the time but if you are not getting an idea of what it is, you will lose more than...

I think that’s what makes the market a place where everyone tries to get their way, some win and some fail. Trading style is generated after backtesting different strategies, so if the trader finds their strategy, profit isn’t that hard to achieve.