Am spilling some truth about the fx market from the successful traders ive met
1) fx is not a get rich quick investment; u need to have at least 2 years of experience for those who are fast learners others may take even up to 5 yrs b4 u can start earning money. Within this 2 years u will learn d market behaviour at each months nd u will make d necessary adjustment in ur trading system

2) setting an unrealistic goals; most traders do set goals of doubling their money in 2 to 3 months. Jst lyk any other investment u need a realistic goal most traders use 10% return per month nd I think that is ok with ur 80 to 100 pip in a month uve reach ur target trying so hard to reach a 400 pip target in a month will lead to overtrading nd u will be forced to take up more risky trade which may end up burning ur acct

3) overtrading kills; trying to catch all d trends will make u slip off ur trading system since no trading system can catch all trends at d same time u will be lead into various fake outs which will lead to losses. I have a frnd who trade only 4 tymes a make his 80-100 pip which is 10% of his acct nd he's making close to 1milli in a month

4) never invest wat u can't afford to loose; all business are risk. Dats y I suggest u stick to demo acct until ire confident with ur trading technique b4 u try putting ur money if not u will loose all u wouldn't want to loose ur house because of fx

5) practice proper money management; never risk more than 1% of ur acct on a single trade for novice while an expert might risk 2%. Simply put having 500$ u are allowed to trade a lot size of 1pip=0.5$ with this u will be needing a 100 pip to give u 50$ which is ur 10%return for d month

The reason why most traders fail is dat they try to double their acct within a short time nd dat kills allbinvestment . good luck traders

Nice piece of Write up about forex buh forex is easy as practice.. once u can identify the pattern , setup and Levels u beat the market maker