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Those are the moments like NFP situtations but I would suggest to use proper risks. There are lots of whipsaws during NFP news and it can damage the account balance badly if risk is not maintained properly.

Forex is not an easy way to earn. It is very difficult and there are millions of participants in the market with different amount of capital. So those who want to earn in the market must have a good trading plan.

I take mistakes positively. I learned a lot from it and they are important for a trader's development. I developed many rules from my mistakes and sometimes those rules make me loose few profitable trades but I am ok with it. Otherwise I would loose more in the long run.

I also bought USD/CHF pair. And price fell and had to hold it for a long time because it did not go in profit and I was not willing to close it. But later close it in profit. And after few months Swiss bank removed the peg. lol

You are correct. A small amount needs to be used in trading for gaining experience and controlling emotions. A demo is very useful but one drawback of demo is it can not train emotion.

If a strategy does not work then one should check back and see why it did not work. There can be many reasons and it takes a lot of effort to develop a good trading strategy. I won't call it over confidence rather a development.

Here is an illustration of how STP process works:

I would not suggest to invest a big amount without any experience. In fact it would not be wise for those who has experience but does not have a profitable trading plan. Many loose in the market so better be careful with the money. Be capable to earn first and then invest big.

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I disagree with you. Market can't do anything to a trader. A trader is responsible for his own actions. Market does not force him to do anything. So a trader is his own boss in this business.

One also needs to have a working trading plan and I guess emotional control comes under experience. It may not be easy to predict the future movement but if one has a working trading plan then it can give profit.

Well the bad side of contest is that everyone tries to win and they don't follow any real life trading rule and try their best to win the contest by taking high risk. It is not good thing for new traders.