Woah, how can you say that? Demo is so useful to not just only for newbie but also pro. We literally use them to formulate or backtesting the strategies. That is very helpful especially when you do not want to risk losing your money in live trading.
I would never recommend anything more than 10x for newbie. If you have master your understanding in risk management and money management, then you can gradually increase your leverage to 20x or 30x. But still, I don't recommend more than that, however!
I agreed at the fact that you must control your emotions, but how we do that? How can newbie who is into the forex market for the very first knowing very well, they do not know how and where to control their emotions?
I am of the same though, keeping it simple and easy to handle is better, but then I think it varies from trader to trader. Some are able to manage it well while other aren't.
Very nice read. Revenge trade is never the answer if you are making the losses but it is always a good reminder that you will try to improve the next time you trade with clear mind, rather than trading again after that losses
The Elusive Republic by Drew R McCoy
From the American System to Mass Production, 1800-1932 by David A Hounshell
The Past and Future of America’s Economy by Robert D Atkinson