Of course coder matters and only he can do necessary changes according to the changing market. At the same time the user also need to use in a discipline manner. If I run the EA at a wrong time I'm going to suffer.

Trading Discipline !!!!

Problems start with expectation. Unrealistic expectation leads to open random trades. It creates greed in us and force ourselves to open trades even if there is no trading set up.

How to Become Emotionless

I also use stop loss for my trading. My trading ability doesn't not permit to predict long term market trend. If I don't know it how I know let my trade run?

Do you use stoploss?

But most people treat it as gambling. Most people even don't realize they gambling with their money. After losing all the money they blame the market. If I don't know what I am doing I am doing gambling. Simple.

Gambling VS Trading

Successful trading is the combination of everything. You need good technical skills along with necessary fundamental update. You need good MM and trading psychology. And to maintain all these you need discipline.

the most important things in forex

Yed demo is very important. In demo we can test our theoretical knowledge in practical. We can know how the strategy is working without investing real money. It's important that we use demo in a good way not just random trading.

I'm a new trader =D

By gambling one can get some winning trades here and there. Those few wins give them false hope. And they keep doing it until lose all the money.

Why you still lose

Two things I have learned. One is revenge trading. After a loss trade, to open many trades to recover it quickly. Second is not waiting enough to set up to come. It means sometimes I open trade to early in fear of losing an opportunity.

Harshest lesson that you've learnt trading forex?

It depends on what do you mean by quickly. If we compare with other business it's quicker in trading provided that you possesses excellent knowledge, skills and experience. To become someone like that you need years.

Can you get rich quickly from forex trading?

To follow all these rules one must be discipline. That's why discipline is the key. It takes a lot of time to make it under control. We repeatedly need to remember what needs to do.

Forex - Tips for happy trading

Yes demo is for practice. In demo we can test our strategy. To make our own customized strategy demo is important. We can't lose money on live account by trying to personalize our strategy.

Demo vs Live Account

Yes only 5% trade make regular profits because others do not follow any strict rules. They are not discipline enough to make consistent money. Even if they have some rules they can't stick to it.

95% traders go broke, only 5% survive

People get scammed because of their greed. They believe unbelievable offers provided by different scammer. People should use some logics before trusting anyone. Stay away if it's too good to be true.

why forex is so risky?

Yes you are right. In most major pairs everyday they move around 60 to 120 pips sometimes more sometimes less. So to get 100 pips trade you may need to hold the trade couple of days if you can predict the move.

More than 100 pips

First of all try to be skilled. Study, study and study. Don't over trade. Don't use big lots and don't open too many trades at a time. I suggest one trade at a time is good. Learn to control your emotions. Don't open trade if your strategy is not ...

Got advice for a rookie?

I do not hold records for my trading. But I am thinking to keep a record. I think it will improve my mind set. The clearer ideas we have about our strategy, the better. It also increases confidence.

Do you record your trades?

No, not for majority of the people. Only for smart people. That's why sometimes it's called Smart Money. To be profitable we need enough skills and knowledge. Trading is not for unskilled people.

Is Forex reliable?

Any pair from major currency pairs would be good for beginners. But initially I would suggest to choose a single pair. Every pair has some unique characteristics. When you trade only one pair and observe that pair a lot, you get to know a lot of ...

Pairs to trade for beginners

Yeah a trader needs to accept loss. At the same he needs to find a way to minimize his loss. Trading is all about how we manage our risk effectively. Effective loss management and discipline can bring success in trading.

reasons why traders lose

Yeah due to high leverage forex trading is very risky. It also becomes risky as most people make it gambling. They do unrealistic expectation. And to achieve that they take huge risk. Basically they are doing a risky business by taking more risky ...

why forex is so risky?