Only under the threat of losing real money you will be able to properly assess the risks and force yourself to trade sensibly. Using virtual money can never understand the real danger.
Maybe. But not for everyone. Many traders trade intuitively and do not have a plan. But patience is certainly the most important factor that is necessary for scalpers and fundamentalists alike.
The trading strategy and its efficiency depend on how to manage it. The different personality type of the trader may have a different effect on the quality of the trade. Use that trading strategy that is right for you. In order to find the right strategy, you need to constantly work on yourself...
So that's why the beginner should start with small amounts. it will be the same thing to swim in a safe shallow water without the risk of drowning. And it will be much better than poking around in the sand on the beach.
1. Be ready to loss your money that you trade. Invested money shouldn't be your last money.
2. Be ready to explore market everyday and study.
3. If you feel bad or start to lose, don't continue your trading until you will be alright. Have a breaks.
4. Risk not more 1-2% per trade. Don't risk...
Both of it.
Forex is unstable profit business. And I need some stable income to does not depend on the unpredictable situations. I think that the work should be diversified as funds.
I understand your situation and I myself have repeatedly been in your place. Treatment of stop loss is his absence :) But remember that if you do not put a stop-loss, then you need to strictly adhere to money management and not allow yourself to risk too much.
I suggest you start trading at the same time on the demo and on a live account. Make a small deposit, for example, 100USD and open the same demo account. Simultaneously open trades and try your trading strategy. So you can see how the demo can differ from the live account and the emotional...
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