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Higher time frame is good for new traders, as in higher time frame, there is less volatility. Lower time frames lead to open lot of trades. It's bad for developing discipline.

Among all the successful traders discipline is the common quality they all have. It doesn't have any kind of effect which approach you utilize, you ought to be trained. If you don't have discipline no strategy can save you from losing money.

Most people fail because most people do not have necessary knowledge and skills. People come here with a expectation of making money quickly and easily. Basically they are introduced forex in a wrong way. If they have been told it will take time to learn the necessary skills, the percentage...

The first step of trading is to understand that it needs a lot of time and efforts to be skilled enough. There is no short cuts. If you can't give enough time and effort in learning just leave it. You have to go through the full learning process. Just by following some ready-made strategies...

People here want to make lot of money in a short time. As a they are more interested in trading than learning. But knowledge and skills comes first. They are not ready to understand it.

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.

Ready made strategy doesn't help at to develop your trading skills. As you newbie you have to learn how price works, how an indicator works, why and when an indicator gives any buy or sell signals. When you are newbie, you are like an intern. You work to learn the skills not for money.

I prefer long term trading for newbie because of the psychological aspect of trading. It means that newbie can't do short term trading. Psychologically every person is different. If anyone can develop his psychology, he can do short term trading.

Greed is when your expectation and skills do not match. Suppose I am not enough skilled but I want to make unrealistic profit like 5% per day. That's greed. When you know how much skilled you are and act accordingly, then you get rid of greed.

There is no shortcuts to success. In short time anyone can get some temporary success but for sustainable success, it needs time. But most traders do not try to understand this simple fact. They live in fool's Paradise. They want to make quick money without necessary skills and knowledge.

Yes, No one should depend upon luck in trading. You can be fortunate one or a couple of times. Regardless, You genuinely do need to understand what you're doing. It's the unfaltering work that finally pays off. If you do reliable work in right way, you will get accomplishment.

Confidence is very important. Confidence comes from knowledge and skills. Without proper knowledge and skills if anyone thinks he has lot of confidence, he can make money, then that's overconfidence. We should not be overconfident. Most of the newbies are overconfident. They focus on profit...

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.

Trading is easy only if you have good knowledge, skills and mental capabilities. It's designed in a way so that not everyone can make money. Most people want to make money here with least knowledge and skills.

It is because most traders are so much obsessed with the thinking of making money that they forget the most fundamental thing which is knowledge and understanding about forex and online broker.

Self learning is the best way to enrich yourself. There are different types of trading style. First discover which one is good for you. Invest your time and labour. Read different books on forex trading. You will know by yourself what you need.

The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.

Forex trading requires specific knowledge and skills. You need the ability to find a good trade and control your emotions. New trades most of the time focus on making profit. They ignore learning and skills. As a result they take impulsive decision.

To manage my risk I take after some strick money management rules. Initially I take after 2% cash management run the show. I never open trade woth over 2% of my value. I don't trade ordinary. I just open trade when I get a decent trading set up as per my procedure.

Every pair has its own unique movement pattern and characteristics. Sometimes it seems they are all moving to the same direction and every pair has its own chart and price pattern.