You are right. Making money is especially hard in the Finance sector. Furthermore, you need to have some capital to even start thinking about it.

double or nothing...

If you really want to use EA then you should first develop a working trading system after that you will know what EA is likely to suit you. Without having a proper trading system it is unlikely that you will have any benefit of using an EA.

Forex Robots

I think one of the additional benefits of using Stop Loss is that it protects you in case your system or internet connection crashes. Unless you have a huge capital you could end up having a margin call by the time it takes for you to be online ...

The StopLoss...

I agree, practice is crucial whether it is back-testing or live testing on demo. We must execute an adequate sample size of trades - the more the better.

Is Forex reliable?

Forex has always been a volatile market. We have to carefully select the appropriate currency pair depending on our volatility tolerance.

A question From A Newbie To Forex

I think it's quite helpful to keep a trading journal as it helps you recognize which strategies had helped you in the past and which had incurred a loss. Many traders don't maintain a journal as this is again another task.

Do you record your trades?

I agree that it's very likely that you would suffer a financial loss if you choose to trust an EA with your capital. I would recommend listening to the fair advice above.

I have 10k to invest in Forex - Any EA recommended?

I am looking forward to someone's reply as, I, too, believe that they are the same.

reasons why traders lose

Taking a break and getting back with an improved state of mind can help with focussing on the trade. Reviewing the trading system also helps.

trading Mental block

You can intentionally ruin your finances quite easily in many ways let alone trading.

Can you intentionally ruin an account easily?

True, creating one's own strategy is a challenging and time-consuming task. Better to find a few simple strategies from the web and select the one that works on demo then try to improve on the strategy. One can create their own strategy, over time, ...

Why you still lose

Well, the number of people who lose money in trading is several times bigger than the ones who gain from it. I am not trying to discourage anyone here but facts exist.

for the working people

Correct. Unfortunately, making money quickly is what drives majority of the people to this market.

Help me, by helping you

I trade with Forexchief.com and Skrill as well as Neteller are amongst several options that they allow for withdrawal.

Skrill or Neteller for money transfer?

Everyone comes around to using stop-loss eventually. Some highly skilled traders may not use it in their seasoned years but I don't think anyone can survive for long if they trade without using stop-loss in their early years.

Do you use stoploss?

True, also, fixing up a target will only pressurize a trader into making bad trading decisions out of desperation which they could have otherwise avoided.

Greed and how many pips is enough?

If you're a short-term trader then you can rely on Technical Analysis because within 4 hr time frames, fundamental analysis isn't nearly as important because you are trading with a short-term goal in the present moment.

Is technical analysis sufficient ?

Yes. I think no one would debate that. It is an established truth.

Demo Forex VS Real Forex

For those who believe in luck - in many aspects of life, a stroke of luck is as likely to turn things against you as in your favor. Trading, however, is not one of those aspects.

Trading Rituals and Superstitions

Correct, the unrealistic expectation of a newbie inspired by the scammy extravagant lifestyle flashed on social media ever too often.

Why you still lose