Yes, it is possible to gain knowledge by doing demo trading. It is almost impossible to make a profit without gaining knowledge as a trader. So the formula that I learn is applied in demo trading.
Forex trading is constantly challenging. Challenges need to be accepted to make a profit. Most people are involved in forex trading so they have to constantly take challenges in trading to keep up with them.
There was a time when I would break down if I lost. This loss hurt me a lot emotionally. So when I realized that there would be a loss, I would learn from that loss. But you can't trade extra to cover that loss.
I agree with you, the trader should do demo trading first. It is possible to develop skills. And when skills are developed, profit will be much easier.
I learned a lot of new ideas when I was doing demo trading. From there my trading experience has more than doubled. Forex Trading I must take the help of demo trading to make the experience complete.
Yes, it is possible. It wouldn't be too difficult if I had a 10 pips target. But in that case, I have to make a plan. And I have to enter the trade at the specified time.
Trade without a plan seems a lot weirder. I have to be serious when I make money. But if I try to trade uncontrollably without paying attention instead, this mindset will force me to lose.
Yes, your opinion is correct. But I think if a 1: 2 risk ratio is used in every trade. So if I hit 1 stop loss from 2 trades, I will still be profitable.
Money management and risk management is an issue that is very important in trading. I think in every trade, trade at a 1: 2 risk ratio and not risk more than 2%.
Loss is a part of Forex trading. If I say I will never lose, it will be my lie. No trader does not make a loss but they cover the loss through plan and discipline and move towards profit.
To develop trading techniques, I need to do constant research and gather a lot of information. I have chosen a variety of books, YouTube, Google, Forex Forum as a field to collect this information.