e_abrams

Most traders lose more than they win, truth be told.

Follow who? A signal provider?

Indeed. That is just unrealistic and, ironically, would lead to losses.

One does have to learn the basic terms of forex trading before ever learning how to trade.

Any properly regulated companies should be offering a free demo account. If they don't, then there's something fishy with their regulation.

You mean, you seen info on whether the broker is in financial trouble?

I think ESMA banned those for EU brokers when it banned the high leverage too, unfortunately.

Wouldn't they wilt by the time they arrive?

I think confidence is gaimed more when one actually profits, but demo accounts certainly have their uses.

It's best to form an entire trading plan, I think.

Indeed. One needs to get used to trading with real money before they invest more.

There are plenty of risks involved, and the risk of being scammed is certainly one of the biggest, as there are many unreliable companies that take advantage of inexperienced traders, unfortunately.

Every broker with a proper license would be offering free demo accounts.

The practice is usually pretty lengthly.

A leverage that high is straight up dangerous, in my opinion.

Knowing what to do is not as easy as it sounds though. If it was most traders would be profiting instead of losing.

Forex trading is very popular in various EU countries, the Middle East and East Asia.

The most important I look at when picking a broker is regulation, because scams are a big problem for this industry, and proper regulation means that the broker is likely not a scammer.

True. One needs to be disciplined and to follow their analysis to succeed though, and people don't always do that.

Long-term trading implies quick profits?

It certainly is risky, but one can lessen the risk if they know how to trade.

The way I see it, the best broker is the licensed broker, whichever that may be. There are a lot of unreliable companies in this industry, financial regulators warn about them all the time. It's a big problem.

I have never seen any official statistics on the matter.

Patience is certainly a virtue when one trades - it's important to wait for the best moment to open and close a position.

What advice would you give about how to do that?