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Forex is a serious business. You can't take a serious matter as hobby. Here loss is involved. It's not like other pastime hobby in which there is no chance of losing money. You have to treat it as business and work hard to learn.

Setting up an stop loss is an art. You need to have a good idea of support and resistance. And how price work in support and resistance area. Focus on increase your knowledge and skills. Slowly you won't keep checking the chart.

Profit targeting should be based on your ability. How much my ability is allowing me that's important. If I can predict a 20 pips movement that should be my profit target.

Forex trading can make you frustrated, when you keep working for a long time with no positive result. It is wise to stay away from market if you do not find good entry. We should not force ourselves to open trade.

We need risk management system so that we can minimize our risk. Without proper risk management it's not possible to survive in the market. We need a good winning percentage and a sustainable risk management policy.

We need to customize or personalize our strategy. Every person needs his own understanding of the market and price. That's why we don't get success by following other's strategy.

First your broker needs to be regulated and licensed. Instant execution of trades is very important as well. If your broker requotes a lot you need to switch it. Also you should looks spreads and deposit and withdrawal facilities.

Ready made strategy doesn't help much in trading. We need personalized strategy to get success. Every person think differently. I can take someone's strategy but can't think like him. That's why it doesn't work.

Money management is very important for trading. Don't risk more than 2% in a trade. Also I prefer not to open multiple trades at a time. If you open two trades at a time it would be 4% which is not good. Survival in the market is the first skill we should achieve.

I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.

Truly most traders don't get success in forex. The reason is their trading decisions are not based on sound research and learning. They think forex is a cash machine. You trade and procure immense cash. They don't consider it as a business.

Trade by chance is nothing but gambling. It doesn't give anyone long term benefits. Successful trading requires skills, knowledge and experience.

Fear makes you hesitate entering a position and it is bad for you. One way of eliminating fear is through knowledge and information, if you know how your position is gonna go, then you wont have any fear in entering that position. Trader's psychology is one thing traders overlook.

Forex trading is easy for those who have proper knowledge and experience of trading but on the other hand it is difficult for those trader to earn from Forex trading who don't have knowledge about trading and don't have experience.so if any one want to become a successful trader then he/she...

Nobody ought to rely upon luck in trading. You can be respected one or two or three times. In any case, You truly do need to acknowledge what you're doing. It's the relentless work that at long last pays off. In the event that you do solid work in right way, you will get achievement.

Yes, beginner they need to learn and doing more on practice even use demo account, with practice hence will make perfect, we often hear this quotation and this is good to motivated our trading journey, which as trader must more practice on real trading than only from theory.

You can take partial profit if your strategy allows you. It is not a good to change your trading plans everyone now and then. It makes us psychologically restless.

Starting with small amount like 100$ to 500$ is the good practice. One should not investment big amount unless he makes his small amount 3 times with a systematic approach.

To earn consistent profits in forex trading is not easy considering the forex risk is very high. At the risk of it, so to be successful in forex we need to continue to learn and practice trading so well that would allow us to trade with the maximum. And have a good trading psychology is the key...

All the successful traders on the planet are disciplined traders. They may have distinctive trading techniques however one thing is normal which is they are restrained. Taking in the market and being control is trading is the way to accomplishment here.