The other main risk is them getting scammed. Sadly, it happens a lot.

why forex is so risky?

Between which two? Demo and live accounts?

reasons why traders lose

I agree. Most traders train themselves though, they don't have a choice.

why forex is so risky?

True. Newbies are often surprised to learn that the broker they invested in does not allow scalping. Check for that before investing.

Trading Tips

I agree. A lot of people underestimate how much studying proper trading requires. It's almost like getting a new university or college degree, all on your own, often while working another job and supporting a family. It's really hard.

Got advice for a rookie?

There are multiple reasons why trading is risky. It's difficult to learn to do so, it takes time, and effort, and often a lot of losses - sometimes not just financial ones because your loved ones may run out of patience with your financial losses. ...

why forex is so risky?

At the very least it's good to check on one's trading history from time to time.

Do you record your trades?

Exactly. What is more, it's better to move onto a small live account, like a cent or a micro account, and not invest thousands of dollars or euro right away. Get used to trading with real money first.

Got advice for a rookie?

Emotions are more product of hormones than anything else...

How to Become Emotionless

If you're a rookie, don't trade live at all until you start feeling comfortable trading on demo.

Got advice for a rookie?

Personally, I always say that beginners should avoid EUR/USD. It seems like the most appropriate pair, because it's the most popular, but in trust it is much too volatile for a total beginner to trade it.

Pairs to trade for beginners

True. Controlling one's emotions is important, together with actually learning how to trade.

Forex, Greed, and Risk

True. Whatever one's strategy, it is important to accept that there will be some losses. The idea is to minimize them as much as possible.

reasons why traders lose

Control over one's emotions in on itself does not lead to profits, but it certainly helps a lot when one already knows how to trade.

Forex, Greed, and Risk

True. When the market opens and closing nothing is clear and I too would advise against trading during those periods.

Best & worst times to trade

Thank you for taking the time to explain, I have no doubt newbies will find it useful.

What is a stop loss and take profit?

Emotions work alright, but since the money aren't real there is no need for anxiety.

I've never blown up an account, demo or real....

Many good things are challenging, but the satisfaction when you figure it out is all the better for it.

How to Become Emotionless