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During extreme emotional situations, it is better not to trade, and a trader must direct their attention away from trading to some light-hearted thing. This will prevent losses.

I don’t use high leverage as I find it risky and overwhelming. For me 1:20 works well.

True! But on the downside many people are also influenced by the unrealistic lifestyle shown by instagrammers or tik-tokers. They are lured into the ponzi schemes and face losses or develop impractical expectations from the forex market.

Having a good exit trading strategy is very important to avoid heavy losses. And an exit point and strategy must be predefined.

There are many advantages to trading in forex, including the following: -Access to a large and liquid market: Being the largest market in the world means that there is always a market for traders who are willing to take on the risk. -High leverage: Leverage in forex trading is high, which...

It is not possible to succeed without knowledge in a market like Forex. All traders make mistakes at the beginning, but it is important to get the lesson and not repeat the mistake again.

Those who have a finance background may have the edge over others, but this is not an obstacle. The knowledge to do trading can be acquired with practice and there are many resources that you can utilise to do so.

Thank you OP for your wonderful tips. Here are 3 tips I would like to give to beginners - 1. Trade during the overlapping hours of the NewYork session and the London session 2. Place your SL at least a minimum of 20 pips below your entry point 3. Develop your trading psychology. Hopefully...

Forex trading will provide you with a lot of challenges that will test your limits. This is why it is recommended to develop your trading psychology, and practise mindset and motivation when you learn about forex trading, or are in your beginner days. As the forex market is extremely volatile...

Forex trading is a lifelong endeavor. if you want to remain among the market's top traders. Continue to learn and improve yourself. This will assist you in becoming a better trader and making more money.

Newcomers and beginners traders are too eager to see some profit and make some money in the market. However, this is not the case with foreign exchange trading. Seeing a return on investment in the market is a process that requires time. Trading successfully requires a great deal of patience.

Yes, forex trading is a risky business because the market is notorious for constant and quick changes. It is extremely difficult to comprehend market behaviour. This unpredictability is what makes forex trading so risky and challenging.

So why not? Several other traders in the market are already doing it. You can certainly make it a source of income. However, keep in mind that good knowledge and expertise are required for a successful trading career. So, concentrate on obtaining the same.

It is definitely tough when you are in your early stages of learning. Give time towards grasping things, you will see that it is fun when you get all the concepts right.

Not really! I don’t have much patience to read books. I prefer to go to the internet to get all the information that I need. I used to watch a lot of video tutorials about trading when I was new to the forex market.

Of course they do and it’s normal! Professional traders are just better at minimising these losses and keeping their drawdown in limits. All of us will have to deal with losses and that is why we should pay more attention to risk management in forex trading.