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The percentage is debatable, and it varies. Maybe, it is around 96%. Whatever be the case, one thing is for certain: a lot of traders lose money in forex trading. They mostly fail because of greed and an unrealistic approach of the market.

Exactly! And this is where ew traders fail. They come with impractical expectations, which lead to big losses. Forex requires a progressive mindset. There is risk and reward. If you have the passion to learn and grow, then forex can be rewarding for you.

In any financial market, there is risk. There is no guarantee whether the outcome will be a positive one. So risk is basically the money which you can afford to lose.

I agree with you. Demo accounts are good to develop trading skills and strategies, but you can’t make money by demo trading and understand risk management. To do so, you have to take small risks, and micro accounts are good for that.

Demo trading is a must for experienced traders. New traders become impatient and get carried away with the feeling of making quick profits, which doesn’t necessarily work in forex trading.

I avoid exotic pairs because they are less liquid and complex to trade. They can be highly volatile, which can result in big losses, especially if you are an inexperienced trader.

Starting with a demo account is the most trusted way to get some trading skills. However, demo accounts won’t make you money. You need to know the real market, which comes with risks. Therefore, trading with a micro account makes sense to learn and make money as a trader, after a short stint...

@FahadMd I agree, money management is important to become a profitable trader. All traders should take some steps to minimise losses: 1) Use stop loss and take profit. 2) Assign a reward risk ratio to all your trades 3) Risk only a small percentage of your capital on a single trade. 4) Risk...