True, controlling greed is like controlling yourself and it is one of the most difficult things to do as a human being. As humans, there is a selfish-gene present in us that dictates us to amass as much as we can in a world of finite resources.

That's true. As humans, it is in our nature to seek reward immediately after putting in even a tiny bit of effort, that's why newbies who spend a few months on demo begin to think that they should become profitable right away.

I think one very important aspect of preparation involves demo trading. If you trade on a live account without being prepared you don't have a chance of making a profit.

True, one thing that Forex isn't is a get-rich-quick scheme. You can only make a profit here if you're committed and patient in both learning as well as in practice.

I agree with this. I feel there are many profitable traders who aren't "filthy rich" but are silently making an impressive amount of earnings.

To become successful in trading you have to work with patience. We all face failure many times but it is not the end of trading. You can always find a better opportunity in the next trade.

I think you can learn from YouTube, community forums, a lot of forex education depends on demo practice.

Risk is a component of life, everything we do virtually involves risk in one way or the other. The most we can do is to learn to manage this risk, curb it, and minimize it. This is what we must do in trading as well.

True, it is one thing to become rich and a totally different thing to wisely use that money. Not everyone is capable of doing just that.

True, very often the latter is the cause and the former is the effect.

True, being disciplined is half the work. No matter how good your system is without the discipline required to follow the system, you wouldn't have success in meeting your goal.

Good, all-encompassing advice.

You had me with your very first point. I once heard someone say that the very reason we are unhappy today is the sheer influx of information. We have access to a lot more information than our minds have the ability to process. We live in the ...

Yeah, one of the few things crucial for making a profit in this business. I also concede with the relevance of a demo account.

I think this is true for a lot of successful people in a number of fields. "Self-education is, I firmly believe, the only kind of education there is" - Isaac Asimov.

You are right! "Forex market is never closed". The way this catchphrase is sold is as if you'd be making profit 24 hours a day.

I believe that treating your demo account just as you would treat your real account is good practice.

You are right on every word. The sooner people realise this the easier it is to make a decision if they really want to walk down this road and take up trading.

I suppose no matter how long you have been trading that uncertainty never really goes away. With time it, sort of, diminishes, or you become adept at ignoring it but when you have to make a decision, you can always feel a twinge.

I am, by no means, saying that low leverage will be helpful in making a profit. I am just saying that low leverage will help minimize loss. Of course, you need the right kind of skills and knowledge to be profitable.