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Learning is the key to success. And practice makes us perfect. Practice means a newbie should do a lot of experiments on demo account to see what works for him. And all these need time. You have to give enough time for learning and research if you want to be a good trader.

Forex trading is getting popular day by day. You can make money by trading foreign currency. It can be a good source of income if you can learn the art of trading. To acquire the knowledge and skills you need to study a lot.

Only Holy Grail that exist is skills and experience. One needs to be very much skilled in analysis and mind control. Otherwise it's not possible to make money here.

To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.

There are many good indicators. It all about what you understand the most and what works for you. By following other's suggested indicator we may make some temporary money but for long term sustainable success we need to find the indicator or system that works for us.

I do not think there is any EA that works for long. It works for few days because EA is made of different strategies. It needs constant modify to work for long. EA could be very good for trading if you can make it of your own with your own strategy. Using an EA is following someone blindly.

Greed and the restlessness of making money quickly do the havoc. From the beginning most people consider trading like gambling. They want to make huge money overnight. They do not follow any risk management policy.

For success in anything you need to keep trying until you get success. On forex it is difficult to get success, you need to sit tight for it. No one can get accomplishment on forex soon after joining. A trader needs to be have patience.

Scalping is the most gainful trading technique. Despite the fact that it's a complicated strategy, all forex traders specially beginner jump at the chance to do scalping. Scalping isn't useful for everyone.

It depends on your trading strategy. But before opening trade you should check all the higher time frames. In which time frame you will take entry that depends on you. There is not fixed rules. It is all about what works for you. I personally take entry on H4 or D1 depending on the charts.

If anyone wants to make double or nothing, he should go to casino. That's the better place for doing this sort of things. Forex trading is not gambling.

To become patient in trading, start treat forex trading as normal business and don't have unrealistic profit expectation. Unrealistic goals leads to over trading. Only open trade if you have enough technical reasons or fundamental. Otherwise practice to sit in the sideline.

If an individual wants to make money by forex trading, he needs to be highly skilled both technically and psychologically. Otherwise it's not possible to make money here.

Demo is appropriate for new traders. And at the same time demo account needs to use for learning purpose not to do random trades. They should use to find out how any strategy works.

The thing that makes a difference between a bad trader and champ trader is emotions. A trader can lose with best strategy since they don't trade with cleaned expertise rather than they trade with emotional impulse. Without having control over your emotions you can't make reliable profit in trading.

Forex trading is a work for professional. It requires particular knowledge and aptitudes. Without discovering that you can not have predictable benefit in forex trading. A specialist trader knows when to open or close a position and how to oversee risk.

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.

That's why trading is very risky. If a trader can't control himself, he will do overtrade as he has the option to trade 24 hours.

Entry and exit of a trade is the most common problem. If you think you can predict the direction, you should test your strategy in demo regarding your stop loss. Check what works the best. No one can give you exact suggestion. By trail and error you have to solve it out.

Success is the combination of few things. A good market analysis and discipline are the most important. Both requires knowledge and skills. Getting discipline in trading is the most difficult part.