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The most common mistake made by traders is failing to improve their knowledge over time. In this competitive market, traders must constantly improve their knowledge and expertise of the subject in order to progress.

True! Better to stick with well-known brokers who’ve been around a while, like say fxview or hfm, they’re more trustworthy imo.

Both methods of analysis are beneficial and necessary for profitable and successful trading. Actually, the foreign exchange market is extremely volatile. Both methods assist traders in making market predictions and determining their next move.

I totally agree with you. I think consistency matters more than the profit figures when it comes to forex trading. It is ok if your profits are small as long as you are able to keep your drawdown in limit and have a good winning rate as a trader. Becoming a consistent trader would ultimately...

You won’t be making profits as soon as you start to trade. It will take time for your strategies to get on track with your goals and help you make money. So, the best I can suggest is to focus on hard work and developing skills when you are a beginner and then, setting expectations to make...

Financial risks come complimentary when you are a forex trader. You don’t have to find ways to run away from them but find ways to face them and make money. Forex trading is a tough job to do and you must move over your expectations to make money.

When you trade out of greed, you pave a way to more losses that could have otherwise been avoided. Don’t make decisions on the basis of what you see but consider analysing the market before you open any trading position.

Appreciate your effort, you’ve made a great list with some of the best brokers out there. I too am using fxview from the list, it’s a good broker.

Demo trading is meant for one’s practice. It has nothing to do with how long others have been spending on their demo accounts. Aim at learning well and go live when you feel ready.

I heard that there is a lot of money that can be made through forex trading. But when I saw the reality on my own, I realised that it was not that easy. After a lot of struggle in the market, I have now started to make some decent returns and they are enough to keep me on track.

You may read tons of articles about forex trading but if you don’t know how to apply your knowledge, you will only waste your money and time. So, you better practice on your demo account before live trading.

I think even experienced and professional traders will encounter losses from time to time and it’s normal in forex. You will become a loser only when you fail to become successful in the long run. You should not think of yourself as a loser just because the first day went bad and quit trading...

I would say scalping is ideal for someone trading with a small amount of capital. But it does not mean that scalping is an easy thing to do. You will surely need the right amount of skills and timing to become a profitable scalper. It is often called an aggressive strategy but professional...

First of all, check your availability and then, which market session would suit you. Once you decide a time to trade, don’t make any changes if you wish to grow. Build your plan as per the market and your affordability and stick to it.

Trading forex part-time is surely a great option as you don’t depend on your earnings through trading and can take several risks to explore the market. Once you become consistent at making money with this, you can plan to move to full-time trading as per your requirements.

It is a great opportunity for those who wish to see financial freedom in the future. They can get free from their 9-5 jobs and trade successfully. However, to build confidence to match that kind of energy, traders need to be hardworking and quick learners. It doesn’t take time to lose money...

Entering the market without a trading plan is foolishness. The environment is always risky, so rushing in to make money is not the correct approach. Sticking to a plan, maintaining discipline and being organised is necessary to survive the volatile nature. Applying risk management techniques to...

Risking too much would lead to losses and risking too little would limit your profits in forex. Finding a balance is what we need to become a profitable trader in the end. Risk management is truly essential to survive as a trader since the forex market is very volatile in nature. Trading forex...

I think backtesting on historical market data is also important while choosing a strategy. This can help us to evaluate the effectiveness of the strategy in different market situations. Demo trading is a way to forward test the strategy in the real time market conditions. It is better if you...

I would say that it is an easy source in the sense that anyone can access the market and become a forex trader. But becoming profitable is not an easy task for sure. It can be a very rewarding career path for those who have relevant knowledge and skills but it is not a source for easy money.