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Trading sessions play a key role in trading because the liquidity of currency pairs vary as per the market time. There are four trading sessions- 1) The Sydney Session- 9PM to 6AM (GMT) 2) The Tokyo Session: 11 PM to 8AM (GMT) 3) The European Session: 8AM to 5PM (GMT) 4) The North American...

I know that as your money is involved in forex trading, it can rightly be called a finance game. But if you look at it closely, you will know that it’s a mind game. The stronger your mind is, the better your trading decisions become and hence, better the profits. So, practice a good attitude...

Trading doesn’t prove to be the same for everyone. Some find it fruitful while others think it to be a waste of time and money. For me, it’s about how you take it and what you work for. Move ahead with the right trading strategy and no one would be able to stop you from achieving what you want.

I’ve an account with Coinexx and they accept clients from the USA. It’s been six months now and I’ve even withdrawn funds twice without any difficulty. Their spreads and commissions are quite low. You can check them on a small account and decide for yourself.

Forex is highly volatile and indeed a risky market. One must use risk management tools and strategies to reduce the risk rates.

Despite all this there are many traders who trade exotic currency pairs and the liquidity has increased with the increase in the number of traders trading them. And they take volatility as an opportunity to gain profits.

You are not required to have some educational qualification but an in-depth study yes, you do need it. Knowledge along with trading skills can lead you to the path of success in trading.

@Kevin I totally agree. People start trading with an inadequate amount of knowledge and when they blow their accounts they start blaming forex trading and say it is a scam.

@Kazumu Fukunaga I agree that it helps in confidence about a strategy. Adding to that, we can always practice new ways in which a strategy can be used. I suggest to always keep on improving your strategies to be consistent with your profits.

Avoiding risk management and trading without any plan are the mistakes that are repeated by most traders. These mistakes cost them a lot. Risk management is important to make sure that we don’t lose more than we could bear. Planning the strategy is vital in a similar way.

@Davidfx89 True, Unless there is consistency and dedication in practice, one can’t expect growth in trading.

@OscarShumack I don’t think that beginners should use high leverage, instead they should focus on learning and understanding trading.

No, it is not enough, But it is important. Trading in a demo account and trading in a live account where the real money is involved is different. Before you trade in a live account, backtesting the strategy on demo is the most important thing to do.

I think apart from the experience difference there is one more important difference. A professional trader knows how to handle losses in trading and a beginner doesn't, which is the main reason why many beginners quit.

There are no shortcuts for success in trading. A newbie needs to have an understanding about the factors that influence the forex market before trading live.

I agree. There are many newbies who do so. They have a wrong belief system about trading that it is the easiest and quickest way of earning money

There are newcomers who when start gaining profits increase the position size under the influence of greed and do not consider the risks that are involved, which leads to losing the whole trade.

There is no perfect trader as no one can become perfect in trading. A good trader is one who has more winning trades than the lost one.

While trading in a market like forex which is so unpredictable, good trade management is much needed. A single wrong trading decision can bring unexpected losses.

@lotcamel I agree and I too would never take a loan to trade. Forex is highly volatile and taking out a loan to trade is like digging your own grave.