bigxy

It take time to build knowledge required to make technical analysis i guess..

Scalping not recommended option for new traders, better they should choose trading longer time frames in start. For scalpers i guess low or no spreads accounts are recommended however in some cases many brokers claim zero spreads but charges commissions which are too high in my opinion which does not cover transaction costs, so better check the brokers properly before going with them.

If you are ambitious in becoming a real success trader then start practicing and learn the skills which are required to make money out of forex trading market, good luck!

Looking forward to see you posting technical analysis soon, btw when you planning to start showing us your skills. I am interested in EURUSD, Cable and Gold.

Scalping can be good during high volatile markets however new traders should not start scalping right in their learning phases because the chances are that they might loose money as they are unaware of the market conditions.

Obviously real money is needed to make money, otherwise there are many options available in the demo account where you can make a lot of money with virtual funds but they cannot be withdrawn.

Demo account can be one of the biggest asset for any successful trader so those who w0ishes to become successful in forex trading should not ignore the importance of demo trading.

Well said, i must say that the retail traders should change the way they think, better if they start thinking like institutional traders if they wishes to earn more money from forex trading.

Only one tip, choose the brokers which are among the most reputed brokers in the past. Otherwise there are many examples where even regulated brokers turned into scam overnightly.

It is becoming harder to recommend any brokers these days because almost every day a new broker is formed and another wind up, so better to do some own research before finalising any broker.

Forex is an evergreen business, there are many inventions like binary options, crypto etc in the past but forex remained on the top.

Signals are a hard nut to crack in my opinion because many traders find it confusing, there are a lot many sites showing economic calendars and sites like economies.com, investing and bloomberg etc can be quite helpful in doing analysis at your own.

Most of the EAs are designed to follow technical analysis so they might require monitoring during the high volatile markets.

Good luck!

Scalping is just like opening and closing trades for short time frames, this becomes very dangerous for a new trader when the markets are high volatiles or during news release. So they should do trades on longer time frames instead of scalping i suggest.

I see these are the two different news coming in this first month of the year starting, let see if they could be beneficial for traders like us in the long go too..

Broker selection is really becoming harder every day however it is yet possible through doing a little research over net.

Traders can only earn if they know how to earn, knowing how to earn requires skills which are hard though they could be learned by the time. SOme resources to build up skills are demo account trading, books, webinars, etc.

Trading plan is important no doubt, the traders should also stick with a trading journal which should be reviewed at the end of day/week to improve mistakes.

Trading skills take time to build and as the experience comes the traders get more confident about making more money out of the trading, yet it is to be noted to cut off your losses early by using stop losses, because one single trade can blow up the entire account if it went wrong direction.

Unpopular or exotic pairs are the one which comes up with low liquidity, hence they could be risky and that is why they are not recommended options for new traders.

Forex is not a broker, actually a broker is the one who provides all the technology like liquidity, leverage, platform etc which is needed to initiate forex trading.

A better answer to this question is yet very simple, that is; the only risk that we can afford to loose and not more than this sum of money. There are several people who even invest their lifetime savings in this business and unluckily they looses their entire sum. So do not do this and better invest what you can afford to loose.

Actually this is right, i am also not a fan of these signals because they are always hard nuts to guess. Better doing some own research can be really helpful in making money as well as building confidence in your own self.

Exactly, better to have a proper trading plan and the trader should review it and make necessary changes which are required in it. Moreover if you are loosing then better stop trading and take some time reviewing your mistakes.