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I have my 2 cents here, for me mentoring is necessary or not depend on the traders, i mean the one who want to learn from mentors. This is something which we cannot impose our believe to the others. Mentoring should greatly help traders to trade better because there is someone who can redirect him/her, but some people just don't like that way, instead they can try to learn theirselves. This is a win win solution.

In order to gain more profit i think you should be consistent, not just in terms of earning but in discipline and the way you follow the rules. Practicing is a must and if you want to practice your consistency, i think demo account is the most suitable place for doing something like that with no risk you can do trial and error as much as you can.

Sure it is not such a big deal to me, but the huge investment is a big obstacle. If that is just discipline i am confident that i can follow the strict rules after familiarizing myself with that rules in 3-6 months. Long term however , is good strategy for someone who willing to use it. For me now i don't see why long term is so much profitable to me when i have a better strategy.

I bet that not all people want to hone their trading in demo account, i even saw a claim that he/she trade since he/she was quite young from real account, so demo account is useless for him/her. I think this both has its own purpose, in demo account we can use for experiment while in real account we can see the fruit of our experience we got in demo account.

Forex is risky and i think that is such a nature of humanity to be scared when they want to invest in this kind of program isn't it? Not to mention that i said before media tried to make this business like totally scary business which is not good for newbies, but this business is not that scary but not to easy. FX still high risk business after all.

I am a bit misunderstand with your post but i get it. I think that is good if we can learn step by step without to be rush. The more we rush the more we cannot control our trading. Since this topic is about control over trading then the best thing we can do to gain control is by trade manually rather than use automation.

As long as you know what to do in demo account it can be said that you already maximized yourself to earn bigger profit. Broker basically earn from commission and spread which i think is totally make sense, in the end as long as our broker earn money through legal way we don't have to worry so much about it or overthinking about it.

But @ aliforex you should remember that in demo account there is no thing such as profit i mean the real one, so if you use demo account all you get is experience and also maybe some instant knowledge. In this case this is why we can see a lot of people perform well because they don't have to bear the burden.

Japanese yen exchange rate to trade the European session on Wednesday (31/8) still in the area continue weakening earlier trade bearish. Sentiment which strengthening US dollar by the Fed rate hike a strong signal that suppresses yen before getting weaker by the comment of a Japanese government official Koichi Hamada. Koichi Hamada said the central bank of Japan (BOJ) started buying bonds denominated in foreign currencies for Qenya program. This sentiment has further weakened the fundamentals yen last week also pressured by the government's attitude ready to trim the yen's strength. The movement of the yen in the European session (06:50:35 GMT) weakened against the US dollar, USDJPY opened higher at 102.97 in early trading (0000 GMT). For the movement of the pair until the end of the evening session trading potentially strong, so it seemed USDJPY can then rose to around 103.45. But if it is not up to that range, then the pair may fall back to around 101.98.

Ending the second day forex trading this week Wednesday morning (31/8) US index rebounded and successfully mastered all world currencies by market optimism will signal a rate hike at the Fed this year's Jackson Hole meeting last weekend. The forex market participants also believe the performance data on the US labor market tonight and also the weekend to support the signals. Market optimism is getting stronger overnight when the Conference Board Inc. (CB) report on US consumer sentiment survey on the economy of the country is getting an upbeat assessment of over 100 points, namely at 101.1 index points. The strength of this data directly accelerates the movement of the US dollar is still moderate since the Asian session. For the movement of the US index is expected today got a little pressure on the European session by the strong sentiment that supports several of its main rivals. But it would be strong again if the ADP data showed an increase above expectations. The dollar index, which measures the strength of the US dollar against six major currencies moving trading weak after the start of trading the Asian session opened flat at 96.03 and this morning's position moves is at 96.01.

Crude oil prices fell more than 1 percent in late morning trading on Wednesday stressed the strengthening US dollar and fears of oversupply of crude oil. US crude oil futures price of West Texas Intermediate (WTI) fell 63 cents at $ 46.35 per barrel. While the price of Brent crude oil futures fell 90 cents to $ 48.36 per barrel. The dollar index, which measures the greenback against a basket of currencies, hit a session peak after US Consumer Expectations Index rose to the highest in October. A stronger greenback tends to make dollar-denominated oil commodity becomes expensive for holders of other currencies. Warnings of tropical storm system developing around the center of oil and gas in the US Gulf of Mexico provide a decline in crude oil prices, the energy company announced the suspension of production at some there. Oil and gas operators in the US Gulf of Mexico has been shut down production by 168 334 barrels per day (bpd) of oil and 190 million cubic feet per day of natural gas as a precaution against a tropical storm, the Bureau of Safety and Enforcement of environmental Monday. It estimated that the price of crude oil at the next trade if potentially weak US dollar continue weakening and supply glut worries and pessimism meeting of oil producer in Algeria. Prices are expected to penetrate the Support range between $ 45.80 - $ 45.30, and if the price rises will penetrate Resistance range between $ 46.80 - $ 47.30.

The movement of EURO at European session on Wednesday (31/8) had experienced strengthening against US dollar after the release of German retail sales data in July, but fell back by Euro area inflation data showing a decline from the previous period's indicator Core CPI. Euro area inflation data released this afternoon will provide the market's fears of meeting the European Central Bank (ECB) next month to determine the next monetary policy. Previous ECB is very alarming with inflation member states will consider the continuation of the Euro for policy easing. The movement of the euro exchange rate in the European session (11:00:35 GMT) is weakening against the US dollar, after opening lower than the previous trading at 1.1142 in early Asian trade. For the next trade until the close of trading ending the American session tomorrow morning, it looks like EURUSD could climb back into the range between 1.1170- 1.1205. But if it is not until these ranges can descend again into the range between 1.1120-1.1082.

Exchange rate of the British pound European trading session on Wednesday (31/8) proceeded to cut weaken in the last 2 days by bargain hunting market after four consecutive days experienced significant selling pressure. Sentiment which strengthening US dollar last few days to master the foreign exchange market was not able to defeat the world sentiment UK economic data released this afternoon. Nationwide Building Society announced to the public that the rate of increase in house prices in the UK in August experienced an increase of more than the previous month. This condition shows that the UK property market is still in good condition after Brexit. Yesterday also reported a survey by GfK consumer confidence which managed to naturally increasing scores, both sentiment is what makes collecting poundsterling market. Pound exchange rate movements in the European session (10:20:35 GMT) weakened against the US dollar, after opening lower than the previous trading at 1.3081 in early Asian trade. Pair has managed to move beyond the range of the strong resistance. For the next trade until the close of trading of American session tomorrow morning, it looks like GBPUSD will be able to rise up to the area between 1.3170- 1.3195. But if it does not reach this range will fall back to around 1.3040.

In the middle of the European session forex trading Wednesday (31/8) still showed a positive movement since the Asian session ended. Previous aussie is already weakened by the strengthening US dollar sentiment after the rise of a strong signal the Fed rate hike last weekend despite the economic data released seeks to provide positive sentiment. However, positive correction that occurred in the European session is in support by market's caution on US NFP Data to be released on Friday, where this data may support the Fed rate hike signals or even dropping back. And data from ADP tonight a little give concern to the data, because the data lower expectations of economists. Aussie exchange rate movements in the European session (10:40:35 GMT) moving weak against the US dollar, after opening lower at 0.75082 early in the Asian trading session. For subsequent trade to the American trading session this evening, it seems that AUDUSD may fall back into the range between 0.74900-0.74630. But if it is not until these ranges will rise back to around 0.75372.

Last tin prices traded higher on Tuesday (30/08). The increase in the price of tin supported by strengthening US exchanges and Shanghai stock exchange. The price of tin in Malaysia commodity exchanges rose Tuesday. The industrial metals prices traded at 18.850 dollars per ton, an increase of 150 dollars or 0.8 percent from its previous close at 18,700. For trade in tin prices further need to look sentiment that could affect the movement of the price of tin that is a potential strengthening of the US dollar. Analyst estimates that Malaysian tin price movements at the next trade will weaken limited to the potential strengthening of US dollar. Price will face support level when it falls at around 18,650 dollars but if there is an increase, the price of tin will face resistance level at 19,050 dollars.

By the end of holiday commemorating Independence Day of Malaysia. The price of CPO in Malaysia last commodity exchanges yesterday afternoon, Tuesday (30/08) finished up. The increase in CPO prices supported the weakening ringgit and rising crude oil prices on Asian session. For further CPO trade, it is necessary to observe the driving sentiment CPO. Analyst predicted that the price movement of CPO futures at the next trade potentially strengthened by the potential weakening ringgit. CPO futures contract prices on commodity exchanges November 2016 Malaysia has the potential to test the resistance level at 2,580 ringgit position. While the level of support that will be tested if prices decline is exactly at 2,480 ringgit.

Gold prices slumped in late trading on Wednesday morning hampered by the strengthening US dollar after Federal Reserve officials give hawkish statements about interest rate hikes, while attention turned to this week's US payrolls data for further clues about the pace of interest rate hikes. Spot gold prices fell 0.78 percent at $ 1,312.71 per ounce, while gold futures for December delivery ended down $ 10.60 at $ 1,316.50. The US dollar was higher against the euro on Tuesday as investors focused on the next data for US payrolls to see if it supports expectations the Fed will raise interest rates soon. Employers are expected on Friday to show 180,000 job gains in August, according to a Reuters poll, under the better-than-expected 255,000 increase in July and a 292,000 gain in June. Fed Chairman Janet Yellen said on Friday a chance to level higher interest rates rose, although he did not provide clarity about the timing of the increase. That same day Fed Vice Chairman Stanley Fischer suggested kanikan could come as soon as September. In an interview on Tuesday, Fischer added that the US labor market is almost at full strength, and said the pace of interest rate hikes by the Fed will depend on how well the economy is doing. Non-farm payrolls on Friday is seen as the key measure of the strength of the US labor market, and could strengthen hawkish message from Yellen and other Fed officials. It is estimated that the price of gold is still potentially weak with the rumor that there will be a FED hike rates which lifted US dollar's price. Gold prices are forecast to exceed the range in between $ 1,311- $ 1.309 which act as supports, and if the price rises will penetrate the range between $ 1,315- $ 1.317 which act as resistances.

All kind of broker are fine as long as they are truly ECN and well-regulated. Some brokers claim that they are well-regulated but in fact is not. Also make sure to choose the right broker which regulated by the right regulator. I recommend a broker which regulated by FSA, or CFTC/NFA, if not FINMA and ASIC which still fine to many users and have good series of guidelines.

You can try these 3, Skrill , Neteller, and Webmoney. Also not to mention bank wire and credit card, if you don't have payment processor but have those two your life would be so much easier than before. Deposit and Withdrawal never been so easy with credit card, but the fees based on my analysis is quite high.

The risk of having control is that maybe you react to late, because some people who automatized their trading usually want to gain the advantage of this automation. Because of the speed and accuracy rather than human, not to mention it also lack of emotions so you don't have to worry about this so much.

But there are some who are trying to share while gain from the service they offered, that is the real mentor the one who are trying to teach their so called student to earn better in forex and also not just that, they(teacher) teach the student to have a better risk management and any good practice of foreign exchange.

The more reliable broker which usually offers ECN service or other Direct Market services taxing some commission to their clients, overall the rate is low compared to the other kind of broker so pretty much reasonable, not to mention the spread still exist bu in small volume and commission is the one to compensate it.

Knowledge is another thing, but the biggest impact why people cannot make much money is because of either emotions or their experience in forex. Emotions like impatience, greedy, fear and so on really affected the way we trade, as for experience i don't have to tell so much because this is easily spotted and we can find easily the difference between newbies and veterans.

Sure, cost trading is one of the thing which affected by forex trading through online services such as internet. The biggest advantage of foreign exchange through online services that we don't have to pay the bulky fees and also broker has lesser equipment to deal with the whole market, cost reduce so much and not to mention, it becomes more transparent and competitive.

It works but why? There are must be some reasons behind that event. Forex breakout is in fact the part technical indicator analysis, this makes people think that the price which reached and broke one line which agreed by the whole traders would drive the price further, it is either to the top or to the bottom. It is just matter of psychology.