adil007

Well forex trading is mainly meant to be a part time work so of course other business men can also work in this field to earn money from another source aside from their main business but it is better if they use pamm accounts since they already lack the time needed for trading.

I think that an E-book is more helping because forex trading is not a practical thing since practical things need mostly demonstrations on how they are done but again videos are really helpful as well when a person is a newbie and is opening his first trade.

Experience comes with time and as we know that the more time we spend into practice and learning the more better we get so definitely from this point of view see that experience is really important in forex trading and is needed to become successful in forex trading.

The benefit of pamm accounts is simple that you do not have to work and trade for yourself but someone else can in this manner act as a manager of your trades and you can choose with which person would you like to invest with, so you do not have to take more worries when you invest in pamm accounts.

Of course this is something which is kind of natural in beginning in my view, I have burnt my account not just one time so this is not a new thing to me, however I think this mainly happens because we get impatient and we still do not have that much good skills or knowledge so we should try to work on that.

Well I think that the title of this thread is what we are actually doing in forex trading, we are not thinking of stopping but we are getting more and more greedy in order to get more out of our trades even that much amount which our skills cannot provide us with and that leads to loss, so we should stop being impatient about earning high by not being satisfied since it only leads to more risk. 

This thing is not like necessary but it is more like merely advisable and it depends on from person to person, since we all vary in our mental abilities so according to the requirements one can judge this thing for himself that whether he wants a mentor or not.

This thing depends on the time which one has, if one can mange more than 1 accounts and ahs the investment required for investing in multiple accounts so then I do not think that there are not many reasons that why that person should not go for it, but we have to be again careful.

Actually there is a lot to learn in forex trading but we should try to cover up the main areas first and go step by step, if we skip important thing we can be in great trouble so going through things is the main thing here and of course it needs good amount of practice to start earning in forex and we should understand it as a long term thing.

Depositing or not is not that much of a big factor in my view the main factor is what we can do, what matters is our ability if we are that much a bit good we would be able to earn from forex trading either with or without investment, with investment is a faster track to move onto in trading.

It is in reality really a lot more difficult than it seems, we need to make a lot of effort for achieving this purpose and most of all it is not a short term thing which would be ready after a short period of time but it needs continuous involvement on this platform. However if one must try to keep a back up at all times.

How much to invest also depends on how much return we are expecting from trading, nevertheless there is a huge skills factor involved with this thing so if we do not have the skills investing big is not going to help us at all but it would be like giving away money.

I think if we see toward the capabilities of both sides then we can probably draw out the fact that we are more capable than robots since we are the ones making them and so if we put our brain into forex trading we can do better in manual trading rather than depending on robot trading.

Well on other side this thing might also depend on more than one factor, like that we want to stop our account from washing fully so we keep some reserve capital in other trading account to use in another trade which goes along as well, also when traders cannot open more trades before amount is withdrew multiple accounts can be a choice.

In my point of view if we would have been able to eliminate full risk in forex trading then there would have been a lot of traders in this field a lot more than this and many would have quit their jobs and kept forex as permanent job since they would have made a lot in that manner but in reality there is no easy way we have to play along with the risk.

If there were a few mistakes then areas where traders lacked could have been covered in a small matter of time but since there are a lot of weak areas a newbie has, so this implies that he needs a lot of practice in demo account in order to get himself ready before breaking into the real trades.

I think that brokers do not get money from the trading accounts when they are in loss, brokers just take their spread commissions since the market has to keep on moving and the traders which make a gain that has to come somewhere from the market movement, otherwise if brokers took the amount how would traders get their profit.

This thing again depends on the newbies skills and I think that newbies should go for day trading mainly and not prolong their trades into next days in this manner they might be able to make more profits than they would by leaving their trades on onto the next day since they do not have that much capability to make that much a good analysis.

The worst part in trading is that most of the traders do not learn from their previous mistakes and then repeat them again in the future which is a reason why many have losses again and again in their trades, so traders should try to go through and try to correct their mistakes in demo account.

Well I sometimes think that it is not particularly about using high or low leverage but trading is related to our skills and management techniques so if we are good with them and can make correct decisions when needed during trades then one can use higher leverages as well.

I think that it is better to become an expert in using one or two kind of indicators at most, trying them is not a bad thing but that should be done in the demo account so we should not go for this approach in the real account since things get confused in this manner and so there is a high chance of loss due to it.

My best tip for a newbie would be that I would advise him that  never go for a big shot at the stage where he stands and only aim for something achievable according to his current level of skills since if he goes high and loses it would really discourage him a lot right in the beginning.

In my view related to forex trading I do not think that there is a way or a strategy which can completely eliminate the risk involved in our trades so we have to be really careful when making our trades because if we get distracted and make the wrong decision due to anything then we can expect loss.

I think that even if one has talent God gifted but still he would need to learn forex trading, give it time and gain knowledge plus skills if he needs to earn good in forex trading,we only get what we work for so one cannot expect to make money in forex would having to taste the difficult moments involved in beginning in forex platform.

Leverage is very simple to understand, it simply is a ratio used to make our trading amount bigger for more profits but loss is more as well when we use higher leverages, different brokers have different highest leverages but common ones which traders use include 1:100 or 1:200.