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Like your trading skills/strategies, psychological factors are equally important in forex trading. Emotions play an integral role. Fear, greed, and anxiety are negative emotions which a trader should avoid. Discipline is also crucial. For instance, keeping a regular trading journal is an...

I agree with other traders that it is experience that separates professionals from beginners. Professional traders have a good hold on their emotions, which helps them avoid greed and fear.

True. The number of active years in the market doesn’t define your expertise. Your market knowledge and analysis do that.

I would not go on that road. Since forex is risky and you are prone to losing money at a point, why would you want to invite debt too? A trader should alway have a constant source of income to invest in trading. Once you start making consistent profits, you can think about trading full-time.

Selecting forex trading as your career is not a big deal, but there must be some feeling behind it. Were you looking for work freedom, or to make a profit with your own analysis and knowledge, or to test your capabilities? If any of these were your thoughts before making Forex trading a career...

Every trader has its own journey. Some of us experience a profit trail and some loss trails, but there is always hope to evaluate your mistakes and come back with a bang after a loss. The best part is that no one experiences losses all the time. There are ups and downs, but nothing is constant...

I don’t see any comparison between long-term trading and short-term trading. Both have their own set of advantages and disadvantages. It is solely up to the trader what they want to do in accordance with their trading requirements and understanding.

Slippage is a major reason why many traders lose in the market. This makes it really important to check the broker properly before you risk your money with them. A small amount can help you know all about the broker you wish to trade with.

At first, it was a little difficult to decide whether I should go with that certain broker or not. This is why I use their demo account or a micro account to see what they have in store for their traders. Recently, I started trading with FinproTrading and found them great in terms of their...

When you enter the world of trading, the foremost thing that almost every trader thinks is winning. And that is very much required to boost your morale and confidence. But in every successful story, there is a part of failure. Similarly, when you are trading, you will face some losses, but the...

For successful trading, you need knowledge, a learning process, practice, and experience. So, if you meet the first three criteria and continue to improve your trading strategies, you will be almost there in accomplishing your trading needs.

There are many benefits of doing forex trading online. If a trader has good knowledge about forex trading, he can benefit from forex.

Yes, forex is a great business, but one should be prepared to work hard and learn. Focus on the "working hard" part because then making money in forex is not that difficult.

Having a mix of manual and automated trading has always been the best way to succeed in Forex trading. If you're just starting, it's highly recommended that you start with manual trading. And bring in a blend as you gain experience.

@eddiereich, the points you have mentioned are very important to remember as a beginner. Always be prepared to cut losses and be patient.

Assumptions can give you some big shocks during trading. I believe that assuming that the market will go as per you without evaluating any facts and data is a big mistake that we generally make. So it’s better to analyze the market and previous trends instead of assuming it.

You are lucky, if you have a good trainer. I learned forex trading with the help of videos, podcasts and websites. Then I practiced my strategies in the Demo account.

Through wider spreads maybe? As a trader I’m more comfortable with a broker that is transparent with its commissions and other costs. Currently using finprotrading and I think a dollar commission cost is quite affordable.

Forex communities are an excellent source of increasing forex knowledge. People share their views and strategies and get to learn from each other.

Welcome to the community! You should learn the basics and how to read charts and patterns. The community is very friendly. Feel free to ask anything