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Some of my tips for new traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.

The thing that makes a difference between a new 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.

There are lot of common mistakes every trader do when they are new. I also did the same. Like opening trade position before big news events and after the news events. Opening too many lots is another mistakes. Risking more than 1% of the capital is also a mistake. Another big mistake is...

A trader ought to pick a regulated and reliable broker for security of funds. Broker is the most basic thing in online forex trading. There are a piece of trap brokers. To stay safe we need to pick a solid broker that gives 100% security of your money.

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.

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.

For a newbie, being profitable with scalping is very difficult task. Scalping means you have to trade in lower time frames where market moves a lot. There is lot of temptation in lower time frame. And a newbie means he doesn't have good discipline and psychology. As a result they make lot of...

When selecting a broker first check whether it is a regulated broker or not. With a regulated broker your fund is protected. There are a few brokers who freeze the account by showing some weak reasons. Furthermore, a few brokers deny to pay the customer if he makes huge profit. That is the...

Dealing with loss is painful task. You have to learn it gradually. It is easy to deal with losses when you know your winning ratio. It may not be possible that every time you will win. So you have to know how many times you can win. The problem is we want all our entry profitable. Trading is a...

Money management is the most important thing in forex trading. Good managment with an average strategy making profit is possible. But poor money management with best strategy resulting in loss. A good trader is a well money management follower. I personally do not use more than 2% of my capital...

A good strategy can make us profitable. But trading is actually combination of strategy and psychology. We can fail even if you a good strategy if you can not make ourselves disciplined. Fear, greed and overjoyed entice us to make more mistakes. We also have to be patient. Impatience and...

Demo account is important for learning technical aspects of trading. Most new traders take a huge capital in demo account and open random trades. By doing this they hamper their trading psychology. Demo should be used to experiment different strategies. Demo is the trading laboratory.

The reason of failure is lack of knowledge and skills. Most people here open trade out of hope. They hope price will go this or that way. But to be profitable we need skills and control over our emotions.

Forex market offers great opportunity but unfortunately most people can not materialize the opportunity due to lack of knowledge and skills. They treat it just like gambling. As a result they can't make consistent money.

Most people fail because they don't know what they are doing. As Warren Buffett said, Risk comes from not knowing what you are doing. Most small traders here are doing nothing but scalping.

Keeping a journal is a good way to find our mistakes. There are some mistakes that we do again and again. Journal can help us find them. Learning from mistakes is the best way of learning. So it's a good habit to keep journal.

For newbie long term trading is good as it helps to develop trading psychology. And for long term H4 and D1 time frames are good. But above all, the best is what works for you. What works for me may not work for you. By study and experiment you have to find out what you understand the most and...

With money management and proper trading psychology success can be achieved with any strategy. That's why it is said that trading is 90% psychological. Unfortunately most trader ignore money management. They want to get rich overnight. As a result, they lose continuously.

Safety of our money come first. There are brokers who do not pay money if you make huge profit. They either deny to pay or freeze your money. That's why regulated broker is very important. With regulated broker your money is safe.

People are unwilling to learn. They want to make money quickly. By doing few months demo trading and learning to use some indicators, they think now they can get rich very quick. Even with this little learning, they expect unrealistic profit per month.