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Whatever the strategy we follow we need to discipline in using it. For example, today my strategy not giving any set up or even of set up is there but SL is big, in that case I will not open trade. Not opening a trade and waiting for it comes under self discipline. It's very important.

Greed is the cause of destruction. It leads to over trading and unnecessary trading. Profit target should be logical and also should match with skills. If I have ability to get 50 pips, my expectations should not more than that.

Yes micro account is also good to develop skills. Here we can also understand how our emotions work when it comes to real money.

Scalping is good. But new traders should not do scalping. Scalping tends people to do over trade. Scalping is done in lower timeframe where there is too much noise in chats. It's a barrier to develop good trading psychology. Once you are expert with controlling your emotions in trading, you can...

For forex market economic news is very important. News like interest rate can change the market direction. NFP also moves the market a great degree. To learn about news you need to know the economy of different countries.

It's good if we can combine both fundamental analysis and technical analysis. I think only technical analysis can also be used for trading and many traders are making money including me. I just stay away from economic news release.

Learning is basic for being a productive a trader. You need to study and research an extensive measure if you should be a beneficial trader. You need to learn particular edge and mental perspective of trading. You have to figure out how to control your feelings. By then start with demo account...

Trading psychology is the most important thing after trading strategy. Even a good strategy can be invalid if we are not psychologically well equipped. Every trader should focus on this aspects.

A broker plays the most important role in online forex trading. It's the broker by which we are able to trade online. Without a broker online forex trading is not possible. It also gives the security of our deposited money. This is the reason we should be careful while choosing a broker.

My risk is 2% of my capital for each trade. Similarly, the most silly introduction to risk is 4%. It proposes I open most crazy of 2 trades. I figure everyone should keep up their hazard association rules. Without overseeing risk in trading entire arrangement achievement is farfetched. Stop loss...

It's not about how many years we are trading. It's about how quick we learn from our mistakes. Even after trading for long times most traders are not discipline. They can't control their emotions. Most of the time they open trade out of greed or fear.

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.

Unrealistic expectation added with possible least time cause a lot of problems. Being professional is not that easy. Most people behave unprofessionally. Within few days or months they want to make their capital double in possible least time. If you can make yourself professional you can make money.

Emotion plays the important role in trading. Not just newbie most traders do not have emotional stability when it comes to trading. Fear and greed overpowers them. That's why it's very important to learn how to control emotions..

It is true that we should not use complicated trading strategy. The more complicated your strategy is the more loss you will incur in trading. Try to keep it simple. Simple is awesome. Simple strategy will help to to find more good entry opportunity.

That's why forex trading requires skills and abilities. But unfortunately most traders focus on earning more than learning. But learning is the first step of trading and it takes time to be skilled.

My first realization is- trading is not for everyone. You have to spend a lot of time in learning. In 3 or 6 months, you are not going to be anything (most newbies that the enough time). Stop chasing pips rather improve your skills. You will make consistent money when you will have a well...

Without trading education, making profit not possible. One needs very deep understanding of the market. Most newbies make the mistake of not focusing on learning. They focus on earning without learning. And lose the money on continuous basis.

Surviving in the market should be the first priority. Most people make mistake by setting high profit goals and soon they get margin call. Forex trading needs patience and understanding.

Managing risk is the most important yet ignored aspect in trading. I mean all unsuccessful traders do not have any risk management policy. I do not risk more than 1% of my capital in a single trade. If I open more than one trade my maximum risk percentage is 2%.