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good one. i feel you should go where your heart goes. if someone is that passionate about forex, they will surely develop the best strategy and skills and with experience he will weigh all the pros and cons of being in this line. then why not build a career in forex trading

well! Indeed forex forums are of great help in trading. Some like minded people for same industry come together and share their learning and experience with each other. Newbies get valuable tips from the expert traders and people actually get help choosing their broker. I like being part of...

Forex forums are really a good source to acquire all the information a trader needs. I follow many forums mentioned in your list. Apart from these Myfxbook forum is also helpful. You can even add that in the list. J

Absolutely! Trading without knowing what to do is of no use. It’s more or less a gamble. One has to be clear in his mind about his trading plans and set the goals that should be realistic. Right mindset comes with discipline and patience which are the traits of successful traders.

When you are in the game of probabilities, loosing is expected. Everyone at some point of time lose money in Forex. It’s an inevitable part of learning. Even if you fail to make profits, make sure you don’t blow up. Get back on the bar and trade again. Just remember that Trading is a risky...

True that! Role of a Broker is to give assistance in your trading. They provide advance trading platforms and all online trading services, thus making your trading experience convenient and hassle free. Also it gives a feeling of safety to the traders. But yes it is very important to associate...

I agree! Test before you invest. Newbies should really study well about the broker they are planning to choose. I when started trading did complete analysis on trading conditions of a few brokers. Start with demo to learn about the platforms and then test the actual conditions with a micro...

Agreed! During highly volatile hours and big new events spreads may vary drastically.

Early success for a newbie trader may be a lucky break if he really doesn’t know what he is doing. I advise to go slow initially and focus more on gaining knowledge and adopting a strategic approach in your trading than focusing on making fast bucks.

With commitment to trading plans and application of your forex knowledge in the trading you can unlock the doors to success. Also avoid emotional trading which mainly kills the profit and erodes a trader’s confidence.

True that! Traders can make money in Forex but generally face problems in sustaining the profits. Getting Consistent profits is tough. It require sheer dedication and practice in Forex. Identifying the opportunities and following a well thought trading plan can help a trader move ahead and earn...

Giving up is no solution even in the case of forex trading. Forex is tough and demands due patience and dedication. Sometimes you suffer losses and get emotional about it. A true trader is the one who learn from his mistakes and apply some better trading strategy next time to achieve good...

Keeping a trading journal is a very important task in forex trading. It is one convenient way to focus and improve your trading performance. It builds discipline. It not just serves as a history of your trades but also works as a planning tool on how to proceed with the trades.

thanks james.

Survival is the first rule in Forex trading. Every trader should find its way to not give up after losing some trades. Develop a realistic, disciplined attitude to succeed in this forex game. Formulate a good trading strategy and give prior importance to money management as at the end it is...

You made a good point. Trading psychology is one difficult aspect to master in Forex trading. A trader becoming overly emotional with either wins or losses can pose serious threats to his trading plans making it difficult to achieve positive long term results.

True that! one should always invest the amount one can afford to lose, especially in case of a newbie trader. Go slow and steady!

Demo trading is an important tool in trading. It allows you to sharpen your trading skills, test your strategies and learns from the virtual losses. Go live once you have started earning profits consecutively in demo trading. But keep in mind that when you trade with REAL MONEY in live account...

A margin call is safeguard to protect the trader from losing his 100% amount or even more than that. It happens when your equity falls below the used margin. When a margin call is hit, your open positions are automatically closed on the market price by the broker. you can go for higher margin...

Absolutely! One can only get better at trading with experience. It demands a lot of practice and learning. Try a demo account and gain all the knowledge. Read more about trading and analyze every aspect of market.