Taking loan without any skills and investing it in business is not good idea. There is no connection of poor or rich people in this market but you need skill and knowledge for earning here.
Forex is always going to be risky work as there is no one control over it. Market moves according to different waves without any control and that is why it is having risk according to it.
Forex has few limitation and one is knowledge. If you dont have knowledge about this business then you should not enter here, just for earning money because that way you can loss your capital too.
Every broker is providing demo account so it is easy for newbie to see market without any real investment in market. But always keep in mind that demo is for learning, you just need to be serious with it.
Having a proper planning and management of your work is important in Forex. If you have good strategy and you are working with it positive attitude then you can do very good with this business.
Most of newbies never take demo account as serious and that is the reason why they face issue while real account trading. Demo is for learning purpose but taking it seriously is also important.
Risk management is no doubt important but for that you need to look for so many aspects while trading. Your money, your spreads and etc... So it is always better to have plan which maintain all in one.
Forex can be source for income but takes times, so depending on forex for living is not suggestible for any newbie. Start Forex as part time and face the market. So that you can get idea about Forex.
Forex is amazing work, if you learn it properly then you can surely make good profit with it no doubt. But the fact is, newbie never thinks about learning and jump to this business without proper planning.
Every trader has his own strategy for working in Forex, many traders prefer to scalping but it always having its own risk with it. And a trader can not always manage risk 5% on everyday.
Traders are using demo for many purpose, that is why demo is always popular in newbies or traders. But sometimes it happens, over demo trading can also be no healthy for real work.
Forex is known for its free working, as we can trade here any time of our choice and that is why people are getting involved here. Doing it part time or full time, is person's own choice but they are free of time for trading so they choose it for work.
Demo account is for those who are learning and who are testing their strategy with demo account. Even big traders also use demo for testing some strategy technique.
That is good for you but not every trader is going to in favor of you, as switching in different leverage can make confusion and can loss your money too.
Choosing leverage is depends on traders and its trading style. It is totally its personal choice, we can only suggest it how much is good for trading according to our experience.
First we start with Forex than make it part time so that we can get idea of market. After few time passed, as we get experienced we will learn, when we should work full trader or not.