bigxy

One pair is good to learn and one pair to excel and becoming a profitable trader of future. Otherwise jack of all trades are usually masters of none.

Stop losses are always beneficial because they helps us cutting our losses earlier than losing up the entire account within no time if the market trend moves against us, sometimes bad day occurs so good to some of the money than losing up the entire account.

Demo account can be helpful in choosing the right broker however it is really hard finding a reputed broker these days so better if we can go doing some research before finalizing any broker.

These new traders should trade a demo account in start for a minimum of six months before going to trade live in my opinion.

Might be a marketing tool to get more customers, yes i guess you are right however many of the new traders eventually loses money in start.

Starting with small amounts can be helpful in testing further processes of broker like withdrawal etc which can not be tested through their demo account in my opinion.

Everyone has skills, everyone have strengths and weaknesses as well. It is better if we discover those strengths and polish them rather than struggling with our weaknesses.

Many new traders lose money in start however those who let go off these losses and move forward make their way earning good money from forex trading.

Yes you are right working with multiple brokers at the same time ending up with trading one single broker.

Start forex as a hobby in your free time, take out a demo account and practice it in order to learn how forex trading works.

Beside concluding convenience either live or online mentorship, first we need to find out a mentor and finding out right mentor is just like looking for a needle in hay these days.

I am not sure if we can make stable income in forex in start. Maybe we could arrive at this level after doing some hard work.

Not only limited to forex trading but in every aspect of life, greed is a curse in simple words.

We can make hefty profits enough to support our dreams yet we have to first learn how the forex mechanism works otherwise we will only lose our money with no returns.

It is not easy to earn money from forex trading however forex trading is easy to learn in my opinion. All what we need to build up certain skills which are necessary in making profitable decisions. Yet we can make more money right after mastering those skills.

Yet many of the new traders ignore these set of rules and eventually ends up losing their hard earned money. They usually attracted to forex thinking that it is a get rich scheme however it is not like that, every trader has to work hard in order to survive in this market.

Success does not come over the night neither profitability, so the new traders have a long way to become a profitable trader which cannot be achieved without learning the processes.

We usually learn with every new day so if we add those learning to our skill sets it will surely profit us in future.

My opinion goes with MT4 as it is quite user friendly although there are many other trading platforms/software but I am satisfied with MT4's performance so far.

In my opinion any broker can support us in initiating the trading process, earning depends on our skills set so we should also keep on learning new things and adding them in our skill set.

A trading journal can be helpful in this regard, we should review it and learn from our mistakes.

We should add stop loss with every trade in order to cut our losses earlier because one single bad trade can kill up to the entire account. So whenever bad day occurs we should be on safe side by losing small rather than wiping out all account balance.

Greed makes haste which obviously bring waste.. so better we make proper plan before starting trading and once our desired target is hit, do not overtrade or greed for more.

I believe that the best broker selection is really becoming harder each day because we have a long list of brokers out there however doing some research at your own may help in reducing risks. We should go with the reputed brokers like hotforex, xm, exness, lmfx etc. Yet the past performance does not guarantee any future results so better to go and work out before finalizing any best broker for yourself.

Leverage is one of the most powerful tool in the financial world yet the new traders being unaware of the market conditions keep the leverage low in start because high leverages can bring high risks as well.