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It’s probably the way they see the market. Professionals know how harsh the market can sometimes be and so, they keep their risks small until they are sure. On the other hand, beginners see forex trading as an easy way of making money and take unnecessary risks even when they have no idea about...

Both money management and risk management are important. Incorporate them in your trading plan for better outcomes.

It’s a good way to learn from expert traders. But if you become comfortable with this, you will leave learning any further and you may not even be able to identify a scam if you don't have any knowledge. It’s better to first manually trade and gain some experience before using any other ways of...

For me, it’s about the lessons I take from the market. I have seen traders with years of experience struggling to make any profits. I have also seen new traders take home huge profits. The time you spend in the market is useless if you are not gaining anything and I don’t just mean money. Every...

Even I am not in favor of borrowing money to trade. I trade with that money that I won’t need in the coming few years. This gives me enough time to recover what I lose. And because it is my money, I don’t have an added pressure that I will have to work hard to earn money for someone else.

Making a trading journal has really helped me to be consistent. I know it can be monotonous sometimes and you’ll think that I can manage my records manually but no. There's nothing better than keeping a journal for drilling consistency into your process.

I don’t know what type of broker is best for you but if you are looking for a broker with good trading conditions and low costs then TurnkeyForex is worth the try.

I really don’t get what this term “revenge trading” denotes? Are we taking revenge from the market for not favoring us? Are we telling the market that just wait and watch you went against me, now I’ll overtrade. That’s so stupid. By doing this we are only taking revenge with ourselves and making...

Patience is important in forex trading. Many times it seems the market is taking too long to follow through with your trade plan. You can't be impatient because that will lead to bad trading decisions.

Always choose a legit broker to start trading forex. Most traders believe that it is easy to find the best broker in forex, but the fact is that it isn't. It's better to read reviews about forex brokers before starting your forex journey.

Forex is all about making money, gaining financial independence, and earning respect from your peers.

The only thing that matters is the trading conditions provided by the broker.

@David Marco , Yes I agree with you on that. Forex trading comes with a huge profit but only if you acquire sound knowledge about it.

Without adequate information or education on trading, it would be impossible to earn consistent profit. The main reason is that people won’t know when to enter/exit a trade, and that would defeat the whole purpose of trading.

The best way is to first assess your needs and then draw a comparison between the brokers that meet your trading requirements.

Risk management is the first thing to be considered by the traders. It’s important to understand which trades are worth risking more and which not.

@Randiall Your concept is correct. Investing time in forex trading is necessary to make money. However, people should also have adequate knowledge of the forex market and forex trading to see better results.

Trading without stop loss is like playing with fire.

Indicators are good as long as you know how to use them correctly.

At least it gives a good heads up into what a trader can expect when he enters the market.