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Whether you are a day trader or not, it is important to have a trading plan. If you have realistic confidence in your method and yourself, then temporary losses don’t matter, because you will come out ahead in the long run.

Another reason traders fail is because human psychology makes trading difficult. We need to think more systematically to improve our chances at success.

There's a whole lot of pressure involved in trading Forex. But to take it off you, you'll have to trade like you don’t need the money. The money part of trading Forex is simply an end result. Under the most intense circumstances, the best results will be produced only with a deep concentration...

The very common and usually the most costly trading mistakes I have noticed a trader can make is not clearly defining their risk and not cutting short your losses. This should be avoided because The fundamental principle of investing in Forex trade is to think first about preserving your...

I have come to understand that traders with losing attitudes place the wrong trades regardless of how much they familiar with the markets. But you have to have the attitude that if a trade loses, you can handle it hitch free and come back to do the next trade without negative emotions.

In reality, overtrading can be many things, but one thing is certain: ignoring the potential we have to overtrade will almost surely put us in the position where we have overtraded – and by the time we wake up to this fact, our equity is gone.

Thanks, Bublu. I'll definitely check it out. Thanks for the recommendation.

I read these books beforeI started trading Forex, Market Wizards and Mastering the Trade. I would also recommend them for beginners too.

I started reading about Forex online and then got two books from my friend, Market Wizards and Mastering the Trade. I read these books thoroughly before practicing with a Demo account.

It is usually best to switch a broker if you ever find that you have a good reason to scared for the safety of your deposit. If your broker is unreasonably slow or unresponsive, when you ask to withdraw some money in your account, then this is an good reason for switching brokers right away.

Successful trading requires your Mind, Money and effective Method or strategy. Without one of them, your trading foundation will not hold, and you will not succeed. You need all three of them working together to make money as trader. Now ask yourself, Do I have these requirements, If not, why...

It's so funny to find out someone suggested prayer! Isn't that funny? Well, that makes sense. But I would also suggest, first of all, reading books about Forex to understand the concepts of trading. Visit babypips to be properly schooled in Forex and finally, practice,practice, and practice with...

I do not know if you have started trading with a Live account; but I'd like to know, Did you ever practice with a Demo account? If you haven't, you'll find it very hard to understand what's going on. To be successful, you'll need to be properly educated in Forex. Just like others have...

Risk control and money management are very important in trading Forex. Whenever I have a losing position and I am uncomfortable, I simply Get out, until another convenient time.

If you don’t take a hard look at risk, it will take you unknowingly. That I have learned throughout my years of Forex trades. If you don't respect risk, you'll be ruined by it.