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But when you place a position, open in this case you must engage yourself in prediction. Also if we want to survive in forex we need to know that we will lose someday or maybe in few seconds later so be prepare with that loss, and the only way to do that is by having a good risk management. It will slowing down your account to decay.

Of course that criteria is pretty much important for all traders, since broker is a vital reason why people success aside from their own strategy. I can say no matter how good your plan, your risk management, and so on but the broker you are choosing right now is scam one, all of your effort will end in vain

I really don't get what do you mean here but the relation between demo contest and improvement of trader's skill is exist. You can say demo contest is one of the most suitable place to get prize for what we are doing in demo account. Of course not all win the trading in contest but you get the experience which i think is more than in just demo trading.

It is not really correlated about the choice even it will affect us in future, but to be a successful means we must have experience. Usually traders with a good mind able to start show the prosperity signal in around 1-2 years of their trading activity. There is no exact way but the general way is by keep trading and increase your capital amount.

Re-use the profit. That is for someone who want to think in long term and doesn't have anything to do with the profit they invest before. If you still need some cash i advise to split your monthly profit into 60-40 or 50-50. Well, save 60%-50% into your account back which means you re-invest that much and growing your account while withdraw some to paid bills or anything you want to do.

Gold prices fell to their lowest level in nearly five months at the end of the weekend trading late Saturday after stronger-than-expected Non Farm Payrolls data lifted the greenback. The spot gold price of LLG slumped about 1.0 percent towards $ 1,212.79 an ounce. While US gold futures for August contract fell 1.1 percent and the price settled at $ 1,209.70 an ounce, reaching levels not seen since March 15. The precious metal also posted its fifth consecutive weekly loss, its longest decline since December. The weekly gold price dipped 0.56 percent. Gold weakening triggered the strengthening US dollar and 10-year US bond yield increase. Central banks around the world have signaled their intention to tighten monetary policy in the near future. The minutes of the European Central Bank meeting in June showed officials discussing their biased shift from easing to neutral. Meanwhile, the US Federal Reserve is worried that current monetary policy poses a risk to the U.S. economy. Many analysts expect that the gold prices to potentially rise with bargain hunting after the gold prices slump at weekends and expect at weekly trend. Gold price is expected to move within the resistance range at around $ 1.215- $ 1.217.

Controlling your emotions seems like controlling the greed. Like fear or greed or any kind of so called negative emotions it must be controlled. Having fear for example. It is fine to have fear but it must be a reasonable fear, the same like greed. It could be a borderline between greed and want to make profit feeling. So you must have better control of yours.

I quite disagree with you, here is my POV. Scalping, Day Trading, Swing, Turtle strategy are all good for newbies, what they need to know about that is each strategy has its own strong points and weak points. Like scalping here, that is good for newbie but it has weak and strong points where newbies can decide to take and train this strategy.

Well it should be like that to reduce the risk but here we are not talking about trading in demo account as usual but the demo contest which held for few times by various brokers. The real prize is the real money not the additional balance which you all must turn into profit first before you could withdraw it to your own bank account.

I think that it should be safe especially if you choose the right broker to handle your money. The broker which i am using right now is also under the regulation of CFTC and FCA. Those two regulators are well-know as strict regulator and love to fine a broker if they are playing with the client's money. So just with that i can conclude the current broker i am using is relatively safe for my money.

But that is the risk you should take man. Forex is surely risky business but that is also lucrative and profitable business as long as you able to handle the money so well. Less here means it is something which is realistically you can reach with your current skills and capital so your account won't fall apart later.

Yes it is all about making money, people who involved in foreign exchange mostly are speculators for the sake of getting profit. In the end there is nothing like try to make money and also that is the only feasible reason why trading in foreign exchange exist. I rarely see somebody want to trade in forex because they just want to do their hobby or because they don't have anything to do.

That is what we called as learning, newbies will start to learn how to make an accurate analysis in long term and this is fine to me. Nobody started as great trader, also if we think that a trader should learn scalp or short term first, they will be proficient in short term but not in long term because they don't learn it. Learn and Making money from that strategy are different issue/

In reality, demo account actually made for something like that. Real account is the place for trader to get the real money, just like the name of the account, REAL account. To be honest in both of account you can hone the skill you have, however when you hone your strategy in real account you may lose your money(the real money) as the process of honing the skill.

To be exact i don't have control over my trading. Not 100% at least. I still have control to certain extent and to cut the loss or profit in real time is not my forte so that 10% part for SL and TP which i have been set before, but when to open a position is under my control. I think with this way i can optimized the profit without need to spend much time in front of computer.

Well from my POV what best trader have in common are accurate analytical skill, can focus on trading, have a strict risk management, also they are able to control emotions very well no matter what happens to them. Also one thing that i know about them that they have bigger capital than the rest of small retail traders like me.

Yes those two are actually different, fixed and floating has big difference which divide those two. Fixed with its fixed spread and Floating with its dynamic spread rate. When choosing those two, i would recommend the floating account no matter what, playing with fixed spread account is risky since it is just like playing with fire.

It is irony to all of us because this is hapening to some people right now. Most is not the right words instead All of traders lose their money from the independent one to the one who work for big corporations. Traders lose their money because they failed to make an accurate prediction or to the other trivial thing such as cannot control the emotions.

Because people want more control, do you know that when you set SL you are not in the control of decide at the real time how much you want to sacrifice. If you have control you can decide at that time to close the trading even doesn't reach your previous prediction of how much pips you will lose. If you know what to do, then SL is one of the best option.

The same happened here too. It wa a very great moment, 10 pips positive slippage or what some people called as gap. But the gap is not always a good strategy because it is basically hope for the price to slip which is quite hard to determine especially in a risky and wild market such as forex where anything could happen. Some people applied this strategy so far with high ratio of losing but that is i think for ultra risk trader.

You made the mistake if you think that our purpose to trade is not money, it is actually money. We make profit by trade and we speculate in the market, 80-90% which makes the movement of the price on foreign exchange is speculation from all players inside. The process is still important but it doesn't mean your purpose(profit) is not. Both are important things to take care of, so focusing on both are a good idea especially in sequences.

It is the fact that forex is merciless to all people who involved inside, all people here speculate and trying to make profit by selling higher and buy lower. The simple concept which become the part of forex itself where not everyone can make profit, only the one with good insight that can survive and also the one who able to manage the funds.

Above that all, i think that investing your money in forex much more profitable considering that the risk of losing money is not that big especially if proper risk managment applied. Compared to the other kind of business i expect the return of that $3000 in forex are bigger and it is around 2-3 years you can get ROI.

It seems like that is not yet addiction to foreign exchange but simply the symptons that you at that time lacked of emotion control, all traders around the world must be experienced something like this before. I myself is one of the example, revenge trading like you or rage when we expect to make profit but instead we lose.

That is right, as long as they enter the market which means more money coming in on the market, right? But that is their loss because that kind of practice is not healthy and unsustainable especially in long term. So by applying a good risk management you can be a better trader and it will lower much chance of lose more capital.