adil007

In my view greed is a negatve emotion in forex trading, we must not only control greed but also all other negative emotions whose interference in our trading could make us suffer from losses in this field as forex trading is very risky so we must have a good approach to it with caution.

Well it depends on the trader, the thread title has both positive and negative aspects one could make many profits from forex while on same hand he could go in losses in forex trading, so talking about chaning life style forex trading does not mean becoming rich in a week to me.

According to me if a business man has the investment he can trade in forex I am not pretty sure if he would be successful or not as these things depend on his abilities but forex trading is open for every person thus he can surely jump into forex as well with his investments to make some extra profits for himself.

Well yes forex news is important for all traders, we therefore must all be updated with the current forex news in order to do efficient trading and make profits by our trades as well. But I do not think many traders spend much time on it.

Well if we put this thread in this way that we need to be honest with our brokers then I think it is acceptable to me, that we should not be dishonest with our brokers and go with the rules but the way the thread starter is putting it is making it confusing to answer.

I think demo account should be maintained whether a person is a newbie or whether he is an expert, demo accounts are very helpful for us and improve our skills as well as analysis of the market so we should stick to them for as much time as possible if we want to prosper in forex trading.

Well I honestly do not know much about the history of forex trading so I cannot make a lucky guess in this matter that which broker is the oldest i think the best way to find it out would be google it perhaps as newbie's do not know about history a lot.

Yes you have a good point @Decub that though it is very important and beneficial for a trader to make profits consistently it is at the same time not easy for a person to make profits in each of his trades and thus one person has to accept losses as well like he accepts profits by his trading.

Well previously I was not thta much satisfied with my broker mayzus maybe it was due to the fact that I did not know how to do forex trading properly and was having a lot of difficulties in the beginning but now I think I am fine guided by my friend to do trading at insta forex currently.

Well if you woud like to know my personal opinion I would just say that go with low leverage if you have high investment and go with a bit higher leverage when you have normal/low investment, in first case a leverage of 1:50 would be alright while in second 1:100 would suit I think.

Well I agree with you @Decub that mistakes might be because of over confidence or a person taking forex trading very easy if he has some gains in his first few trades this would make him feel more superior to other traders and in end he would have loss due to this thing of his but on other hand mistakes cannot be removed completely.

I think dedication and passion both are important in forex trading, without one of these forex trading for ourselves would not be complete as it is the combination of these two characteristics which would make us struggle for our financial freedom via forex trading.

Well I also used to think like that but now it is becoming a business which a single person can start and be his own boss at the same time, the popularity of forex trading is rising day by day as more and more traders are enrolling with more brokers also opening at the same time so in fact it is expanding further.

Well if we want to make a living out of forex trading then we should be determined to earn from our trading, we should get up some capital and learn forex trading by giving it more time and also we should do more practice as this would help us make more profits from our trades.

No I would not agree with this point that forex trading and gambling are the same, forex trading is in means of investment same with gambling other than that I do not think that there would be any other similarity in gambling we only need money to invest not any other much knowledge, forex is more harder than gambling as well.

Well the newbies get attractive to forex seeing good amount of profits which the experts are making and in their early trading they do not take correct risk management measures due to which they get loss due to these mistakes such as setting high leverage and usage of wrong lot size.

Well I personally do not want to advise anyone to use forex trading robots, this is just like draining money because we are spending for using these robots and if they do not make us profit this is just like a double loss for us then so I just like to go for manual trading over automated trading.

Well simply leverage is a system which we can perhaps think of as a extra benefit for us, it helps us to do trading with our capital by making it bigger by a lot of time, personally I prefer to use a leverage of 1:100, but we must know that leverage has both benefits and disadvantages.

Well yes i had a similar thought like you @Decub I used to think that to do forex trading we required a lot of money but now we can do trading without even investment from forum bonuses, but I think still there is a difference in which experts and newbies do trading. However I still suppose this is an ideal opportunity to earn though.

Well I also go with that, I am so glad to see that insta forex supports payza which is a regulated broker, previously mayzus did not support payza but moneybookers which I hardly used, however you are right @Decub I also like to go for regulated payment processors for this purpose.

I think acheiving success in forex trading depends on the traders abilities and his potential it does not depend on this that free money would help a trader achieve success, this would only make him take forex trading easy and in turn he would have more losses than before so I do not agree with that point.

I think demo account is very important for a newbie trader especially when he is in the process of learning forex trading so nowadays a lot of brokers are offering an opportunity of demo account the ones where I am registered are also offering demo account availability the brokers are insta forex and mayzus.

I think forex trading is just a risk filled business which we can do from the comfort of our homes and that it involves buying and selling of currencies, this is one of the best businesses which we can find online to do and it has the largest market online if I am not mistaken somehow.

@Decub you just got the words out of me, I agree that having a lot of indicators would only confuse us in making our analysis and decision while trading so we should not go for too many indicators as it might lead us to loss in our trading and it is better to go with less then.

Well I am using currently as well 1:100 at my insta forex account, I think this is a good leverage if I do not turn out to be profitable afterwards using this leverage I would decide to further lower it to 1:50 because I do not like to take much risk at my trading.