Forex is a good place to earn but first of all we the traders have to make sure inevitable parts of trading , need good knowledge and experience with a reliable support from a credible trading broker.
traders use different tools to trade during news , actually to become successfully during news is a tough game , i generally use Fx Factory economic calendar that supports me much.
the newcomers always try to bring profit by using high leverage but in practical it could be dangerous if there is no money management including real trading plan.
generally we the traders when making losses try to recover this losses by over trading , its a very bad dedicated decision and at the end of the day we lost whole equity.
most of the junior Forex trader think only $5000 is more enough to bring any kind of amount you want , but in practical this is not true , balance is not a big deal in there , need a long time experience with powerful trading strategy.
losses is a very common thing that we the traders cant avoid in spite of having most powerful analyzing trade knowledge and experience. so we traders always have to take it easily.
which leverage is more appropriate for scalpers its a very question to answer , because depends on own trading strategy with money management , generally experts suggest low leverage ratio when time to scalp to avoid unfortunate risk and losses.
i have seen most of the teenagers are addicted on Social Media , sometimes i feel if internet connection would close for 1 week due to any reason what will happen next.
generally we dont care about result when trading in a demo but in a real account we become serious and try to trade seriously. there is a difference between psychology nothing without it.
good knowledge can bring good profit , its true but honestly speaking without using a practice account any level of knowledge can be useless. so we the traders have to emphasis on practice account first of all.
good trader is a trader who is able to predict the real faction of this market with certainly , generally its a long term approach , so we the traders lost interest most of the time.
honestly speaking i got so many times lot of free bonuses but due to having so many restrictions never used this kind of bonuses. its all about advertising , nothing without it.
beginners always trade in a demo account for acquiring basic knowledge and experience but in practically they trade at random and got nothing ultimately. for that reason i think micro account is more appropriate for beginners as practice. whats your opinion ?
broker right now offering high leverage, its a part of advertisement actually high leverage not necessary at all above all for the traders who are beginners level , it contains huge risk for all time.
broker is really important , because the broker can affects the result of your trading with certainly , so when choosing a broker we the traders have to be more careful.