Yes you are right. People here want to make lot of money in a short time. As a they are more interested in trading than learning. But knowledge and skills comes first. They are not ready to understand it.
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.
Usually there are two types of emotions on trading that affect a trader. One is fear and is greed. Fear of losing money and fear of losing opportunity. Due to greed traders open big lots and revenge trade. To be successful one needs to overcome this.
Yes trading forex is very risky as it involves very high leverage. To survive in the market one needs to achieve good knowledge and skills. He also has to have good experience. Otherwise it's quite difficult to make profit here.
For every trader it's important to control the emotions. Most of the traders take trades out of emotions. Fear and greed take control of their mind. As a result they take impulsive decision.
Two main reasons of failure in trading are lack of enough knowledge and poor trading psychology. We need analysis skills and control over our emotions.
Regulation of a broker is very important. My broker Eurotrader is well regulated and licensed. Before I choosing them I did some research of my own and found them regulated.
Yes confidence is important. Confidence comes from knowledge and experience. Also you need to learn from your mistakes. Confidence comes from knowing what you are doing. If you open a trade you should have enough reasons.
Loss is a part of trading. If you have good winning percentage and better risk reward ratio, loss should not bother you. Loss bothers so much to clueless traders who have no idea what's they are doing.
Yes whether it's forex or stock market you need skills and patience. without skills it's not possible to make profit here. Only 5 to 10% people are profitable. Now you can imagine how much skills you need.
Yes managing your trade is very important after you open a trade. You should know when to close your trade. Sometimes you need to react quickly if trades go against you.
A goal is good but becoming desperate to achieve that goals in forex is dangerous. Market doesn't move same way every months. That's why for trading having is a long term goal is more convenient.
Where there is money, there is scam. There are many scams brokers out there on internet. It's our duty to find out the good broker. If any broker or person promising something which is too good to be true, stay away from them.
Learning is the first step. Basic how to trade you can learn from demo but to be profitable you need a study a lot. There is no alternative to being skilled. A newbie should remember it takes skills and experience and for that they have to give time.
Yes trading is not a game. Most retail traders treat it like gambling. They are not focusing on learning. They are focusing on how quick they can earn. They are not trying to understand the basic that if you become skilled you can earn quick money.
Part time in a sense that you do not need to spend a lot of time in trading. Few hours everyday is sufficient depending on your style of your trading. But whether you take it part time or full time, you have to achieve necessary skills and knowledge
Psychology is very important in trading but most ignored aspects by traders. It's very difficult to control the temptation market offers us all the time. That's why we need to be discipline in trading.
Choosing a good broker is very important. We need to be sure that our hard earned money is safe with the broker. That's why first and foremost we should find a broker that is regulated and licensed properly.
News trading is very attractive and tempting but at the same time it's very dangerous. Many newbies are very much fond of news trading, though they can't make profit most of the time. It's better to stay away during big news events.
Yes passion is needed for learning. Most people are not willing to learn. Subconsciously they feel it's a waste of time. Without having proper skills they keep trading and losing.