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If you have sufficient market knowledge, I think you can control your greed. Earning knowledge on how to use indicators properly should be the first and foremost target of traders.

Traders have to focus on market analysis as much as possible. But traders have to learn how to use these tools to analyze the market.

Many traders in forex don’t want to retain their trades for a long time so they rely on news trading. News trading gives traders instant feedback.

Success is rare in Forex trading because traders mostly capitalize on their wild guesses. And these wild guesses never give high return to traders.

It’s true that the result isn’t always satisfactory but still then we have to stick to trading. We have to take lessons from our defeat in trading.

You will find several e-books available online by reading which you can bolster your basics of trading. You can also watch videos on youtube or purchase any short course for learning trading.

Most of the traders don’t have sufficient enthusiasm for trading and they are not keen to learning. To succeed in Forex, you have to develop your thoughts first.

I prefer scalping to news trading. The main advantage is scalping is that you can close a trade within some pips and it will require you the shortest time to reap gain on the market.

Develop yourself step by step. Maybe it seems time-consuming initially but with time you can reap good sum of profit on the market.

For better trading every trader needs to catch the market environment and the trend. Personally, I prefer short time trading strategy to long term trading strategy.

Timing in Forex is so important that you can even miss an opportunity if you miss the right timing. To know the proper timing, stay active on the market and analyze continuously.

Lack of knowledge works as an impediment to the way of trading. New traders are quite averse to earning knowledge and that’s why they can’t succeed in their trading.

You have to understand market trends well to capture the movement. A better forecast can give you better result in the end of the day. So, focus on right trend judgment.

There are many sources of learning for example you can read e-books, watch video tutorials and trade on demo account as part of learning. Trade on demo account just like the real account. Thus you can gather experience in trading.

Rely on a proven strategy to generate handsome amount of profit. Besides so, you have to work on your mistakes. Take time and rectify yourself.

Irrational decision can lead you towards losses. To make rational decision, you have to rely on both technical and fundamental analyses.

Better risk management policy will keep you apart from risk. Trade with low trading volume, narrow trading spread and use low trading leverage in your trading as part of risk management policy.

In Forex, there is no place for overconfidence because it will drown you. But a better forecast on the market can help you earn more money. In Forex, nothing is certain.

You have to form your life by working hard in earning knowledge. To shun your practical knowledge, apply your already earned knowledge on demo account.

Basically, I prefer trading in EURUSD, GBPUSD, XAUUSD. But XAUUSD is a risky trading pair so I trade less in this pair.