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Yes forex trading is a type of business. It's not gambling though unfortunately most people treat it like gambling. It's because they do not have necessary skills and knowledge.

Forex trading offers high leverage by which a trader can manage bigger trade with littler capital. In the event that you are a position trader it is more astute to use low leverage like 50:1 or 100:1. Indeed leverage ends up being more hazardous when we use big lot in relation to the capital.

Forex trading is not about being unlucky or lucky, it's about being consistent in profit making over years. So forget about luck, focus on attaining knowledge and skills.

Stop loss is a part of risk management. To shield your account from extraordinary loss, you have to utilize stop loss. In any case, to utilize stop loss viably is the key. Numerous traders don't know how to utilize it. I recommend them to examine more.

There is no alternative to knowledge and skills. If all these were profitable for long term everyone would make money in trading. Only the fittest people survive here for long term. And to be fittest no alternative to being skilled.

Knowledge without practical application has little value. Knowledge becomes powerful when we apply it effectively. It's the practice that helps us using our knowledge effectively.

For this easily accessible reason people think it is easy to make money here. As a result they do not give importance to learning. They treat trading like gambling.

Yes trading too many pairs is not a good idea. Too many pairs do not help developing understanding any particular pairs. That's why I trade GBP/USD mostly. Very rear I open trade in any other pair.

Money management is very important as forex trading involves high leverage. Effective money management can reduce our risk. A trader should not use more 2% of his capital at a time.

Without a good trading plan, consistent profit is possible. Without plan a trader becomes aimless and do random trading. They open trade not because market giving signals, they open because they want to.

Yes you are right. Most traders do not get success due to lack of knowledge and skills. People what to make money but not willing to spend time to learn the art.

Almost all methods give profit if you follow the method properly. Most traders take impulsive decision while opening a trade even when they method doesn't allow them to open the trade. So controlling emotions is very important.

Emotional decision in trading leads us to havoc. Like after a loss people open revenge trade to recover the loss quickly even of it doesn't show any trade set up.

For small traders like us without leverage we need a lot of capital for capital. To open a .01 lot we need at least 1000$ balance. So it helps us. But it also increases the risk. That's why we need to follow risk management system.

You need a place where you can think properly. It could be any place. But the condition is the place should not disturb your sound thinking.

Yes high leverage is risky. Many people make it more risky by opening big big lot. They do not bother about risk management. As result they never get discipline. No discipline No success.

Successful trading is about consistency. If you can make money consistently, you are successful. To become such one needs a lot of knowledge, experience and skills.

Yes there are many facilities. But the whole mechanism was made in a way so that you need very good knowledge and understanding of the market to be profitable here.

Yes trading system is very important. It's the first important criteria of successful trading. Once you have a winning trading system, you need a sound and composed mind to take trading decision.

Correct market analysis is very important part of trading. After analysis we also need to determine our entry and exit point and entry criteria. Entry should be based on entry criteria.