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A good suggestion. I would like to add with it that use the amount on demo account which you think you will use on a live account. That will give the trader an idea how he or she is going to perform on live account.

There are many proof of in on the internet. The forex market is not a place to make some quick bucks. But it is a place from where people can earn decent amount of money if they work on it.

Agree with you. Some may say forex is easy but in reality it is not. It has it's difficulty. If there was not then we would see lots of successful traders around.

Well I don't use take profit on all my trades. But I always use a stop loss on all my trades. But I use take profit on some trades. It depends on the market situation and my view about the upcoming movement of the market.

The number always stays above 85% so majority number of traders can be considered losing in trading. And we really don't know what happens with institutional traders. They definitely have some advantage over us but not everyone of them are profitable in my opinion.

If you can find a good mentor then it is worth to pay. For a new trader, experienced trader's advices are valuable. Some may say it's not worth it but a mentor can make the learning process faster.

I have similar thought to yours. Market conditions are always changing and a robot can not cope up with all those changes. So trading manually is better.

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It is true. A broker can sure screw a trader. For that traders should be able to differentiate between dealing desk and non dealing desk (NDD) brokers. Choosing dealing desk broker surely will make a trader suffer lots of losses.

Even if one has good skills, he or she should not take big risks. It is such an bad idea. A trader must always keep risks under control because every prediction will not go as planned and the trader should ensure that he or she will have the funds to take the next trade.

From your post it looks like you are a scalper. But want to know what kind of trader are you? Because it does not require lots of time to spent on forex.

Forex can be anything except making easy money. If it was easy to make money on forex then most people would have traded forex. There are lots of things to learn before one can actually make decent amount of money.

If I want to say it in short then demo can save a lot of money for a trader. Not only for new traders but also for experienced traders. Because they can test many things out without spending any money.

That's the thing. To some people 50% is not enough because their capital is small. But to some (you for example) you can be happy with small amount of of return.

Using high leverage is one thing and risk management is another thing. Different people use different ways. But I agree with you. Using high leverage to trade large lots is not any kind of risk management.

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