Any course gives us basic understanding of trading. You can take course to analyse the charts. But success depends on how you understand the market. Course is a helping hand but doesn't guarantee you success.
Forex trading can be your online earning source. You a laptop with internet connection to get access into the market. Then you have to learn the art of trading. Most Importantly you need an online forex broker to trade with.
A good strategy can give us good profit. But it is not just strategies. Risk management and emotion control are equally important. By combining all these you need make a good trading plan. It will give you a strong hold on profit.
Money management is extremely important in trading. By far most of individuals slump in trading since they don't take after incredible money management rules. You can't risk more than 2% of your capital. You can take one trade or a couple but total risk should not outperform 2% of your capital.
The key difference between demo and real is in real your money is involved. And where money is involved, emotions are associated. But demo is a good place to develop your strategy. You can test our strategy on demo without any risk.
We need to customize or personalize our strategy. Every person needs his own understanding of the market and price. That's why we don't get success by following other's strategy. Without customized strategy, long term success in trading is not possible.
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.
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 is not a scam. But you will find people here who are doing their best to scam greedy people. I said greedy people bcoz they believe their unrealistic profit promising. Everyone specially newbies should know that there is no short cut in trading.
Stop loss is a killer if you do not use it properly. You should risk reward ratio of your strategy. In ranging market it seems price comes back again. But if the market trend for long and if you against the trend you will eventually get the margin call.