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Yes there is no alternative to a regulated and licensed broker. Otherwise your money may not be safe as there are lot of scams brokers out there. Do some research before selecting a broker for your online trading.

Yes it's the thinking of lot profit keeps trader stay in the market despite a lot of losses. I know few people who are constantly losing money over a long period of time. Still they are trading

Yes I suggest him to study a lot and research as much as he can. Trading is the part. First part is knowledge and skills. There is nothing wrong if anyone wants to learn anything. At the age of 11, Warren Buffett went into the stock trading business with his sister, Doris, buying six shares of...

No forex is not eradicating poverty. It's not easy to make consistent money in trading. For making consistent money you have to be skilled and knowledgeable. Otherwise you will end losing all the money you invested here.

It's possible to get financial freedom by doing forex trading. But for that you need to study and research a lot. You will not be able to make money if you are not skilled enough.

Yes signals are not good if you want to learn. It doesn't let you understand the market properly. It destroy your ability to understand the market and your power of judgement. You develop confusion.

Patience is very important for trading. You need to wait for a good set up. Many traders open too early or too late. It happens because of fear of losing a trade. People also want to make quick money. They are not ready to wait to make gradual profit .

Money management is very important in forex trading. You should have clear idea of how much risk you are taking. You also need to have idea of your trade winning percentage. Otherwise trading is just like gambling.

Signals is not good if you want to learn the art of trading. It makes you dependent. It reduces your own judgement ability about trading. So if you want to learn trading study a lot.

Yes it can be taken as part time as you do not need to give a lot of time in it. But to br profitable you have to give enough time in learning. Without proper knowledge and skills it's not possible to be successful here.

Yes most traders lose money. Actually most people come into forex by thinking it's very easy to make money here. They are not ready to learn the skills. They think it's waste of time to study and research. By that time I can make lot of money. By this way they live in illusion.

Yeah that's a big problem for money. Trading business is good for people who have idle money. But you also need good knowledge and skills to be profitable.

There is no doubt that forex trading is one of the risky business in the world. Due to high leverage and volatility this market is very risky. That's why we need to follow risk management system. Without risk management it's not possible to survive in the market.

I agree with you. This habits destroy our own understanding power. It makes us confused. As a result we can't take right decision of our own. We should focus on learning.

Yes psychology is very important in trading. If you have a very good strategy but no control over your mind you will not be able to make profit consistently. You need a discipline mind for becoming a successful trader.

Yes most newbie traders open trade without following their strategy. They are in a hurry to open a trade that they open up trade either too late or too early. You need good understanding of the market to be successful.

Trading is the combination of good analysis and discipline. If you are not discipline but have good strategy, you will not be able to successful. You have to do everything right to make money here.

For successful trading you need good analysis skills and good risk management skills. You have to emotionless while taking any trading related decision whether it's entry or exit of a trade.

Demo is important to test your strategy to find out how effective it is. You can not test your strategy directly to a live account. First you need to find out pros and cons of your strategy in demo, then you can apply it on live account.

Due to high leverage, trading is very risky. To avoid the risk a trader must follow risk management policy. He should not use more than 2% of his capital at a time. He also should avoid revenge trades.