What most newbies must go through when trading Forex

I knew I would get through to you eventually.

Trading plan is very necessary and it is necessary for newbies that they should learn properly and control the greed factors so that trading will be done properly. Newbies should spend three to four month in demo account to understand the basics of Forex trading properly.

You'll go into the live chat room and see different traders influencing pips and you to need to know why it's not you - you'll ask a million inquiries, some of which are dumb to the point that thinking back you feel somewhat senseless. You'll at that point achieve the point where you think every one of the ones who are calling pips after pips are liars - they cannot make that sum cos you've contemplated and you don't make that, you know as much as they do and they should lie. be that as it may, they're in there for a long time and their record just develops while yours falls.

Well, can you recommend any live chat room please! Because, I used few services but not happy at all!

I have 2 friends in mind who trade, and whether newbie or not, that's not really the issue that keeps them from being profitable. One has traded for decades. The problem with both is that they're very , very intelligent and often very successful in achieving their goals outside of the trading realm. They're both consistently losing traders because they both believe they know what the market wants, and when they're wrong on a trade, they refuse to concede defeat. Not being correct all the time is not what makes a profitable trader. The market will always be correct, and you as a trader will want to be on as many of those correct trades as possible, If you're on the wrong side of them, that's ok, just never try to beat the market when you're wrong. One day my 2 friends will learn this, if they haven't lost all their money

I think it will become harder and harder for manual traders. Already 50-80% of the Volume comes from algo's. I myself only use EA's (selfmade) as well, and even my simple approach will have a problem once machine learning algos take over fully. I think only with 100% rule based trading you have a chance in FX markets (or a very "intelligent" neural network with the right inputs).