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If you are a short term trader, and don't use stop loss. You may end up losing all the money if market goes against you. In short, sometimes market retrench a lot.

Scalping is good. But new traders should not do scalping. Scalping tends people to do over trade. Scalping is done in lower timeframe where there is too much noise in chats. It's a barrier to develop good trading psychology. Once you are expert with controlling your emotions in trading, you can...

You don't need to be correct 100% of the time.If you are correct 50% of the time and have 1:2 risk reward ratio, you will make money here. Problem is we want to be 100% correct and do not want to follow any discipline.

Yes you are right. Along with knowledge, we also need the capability to use the knowledge effectively. Knowledge becomes powerful when applied.

Every trader has his own choice and comfort. Some traders use all the time frame to get the market vibes then take entry in a certain time frame like H1 or H4. I personally do not go below D1. I take my entry on D1. You have to find out by yourself which one you understand the most.

Skills are the most important thing in forex trading. Loss comes from not knowing what we are doing. Forex trading needs both technical and mental skills to be successful.

In demo account, we can test our strategy before applying it on live trading. It is not a good idea to use any strategy directly to a live account without any experiment.

Suggestion for newbie traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.

Fear is a part of forex trading. Usually after losing some trades traders become fearful. To overcome the fear we need good knowledge and skills of trading. When we know what we are doing, it becomes logical and fear disappear.

Winning and losing is part and parcel of a business. Furthermore, in an efficient trading it is more obvious. To figure the P&L of a position, what you require is the position measure and by what number of pips the cost has moved. The veritable advantage or mishap will be tantamount to the...

Forex is not gambling but many traders make it like gambling. When you do not have necessary skills and experience, you will end up gambling. That's why skills are important in trading.

Forex trading can be one of the best investments, only if the person is skilled enough. Without enough knowledge and skills, trading forex is the most risky business in the world.

For trader should not trade on any time frame below H1. In 30m, 15m, and 5m charts there is so much noise. People start to over trade due to small time frame. A trader always should focus on developing good habit.

Yes, for trading strategy is important. But strategy is not the only important. Along with strategy, we also need a sound mind that can control emotions.

Of course trading is hard. Trading is a high rewarding work. High reward doesn't come easily. A person needs deep knowledge and understanding of the market to be profitable. He also needs very strong mind set.

To choose a broker, a new trader should be careful..they should do some research on internet. And choose a broker that is regulated and licensed.

Signals should not be followed if you are new. They provide a lot of signals everyday and you will get confused and end up losing the money.

Most people can make some random profit trade. But making money consistantly is the toughest job. It requires good understanding of the market and a sound and composed mind.

One important difference between trading and going to the casino is that when you go out to gamble, you have a negative expected return. In other words, the house is always expected to win over the long run, on average. Trading , however, if done skillfully and artfully, can put you in the...

A trader can be benefitted from losses if he can think it as a lesson. Every loss is a lesson. Traders use journal to keep track of their past trading mistake so that they can learn from their mistakes. Learning from mistakes is the best learning.