As a beginner I was unsure where to start from. Gathering knowledge from different courses and understanding the basics help to start. Also trading first with a demo account helped me to goof around and learn the tactics a bit. It gives you more confidence when you can try hands on a demo account and practice first. It saves you from the emotional burnouts as a new trader. So try to learn, learn learn as much as you can through demo and different courses first.
there is no challenge to become a Forex trader but there is so many challenge to survive here successfully. i hope you got the point.
From creating a good plan & strategy, controlling emotions, to finding a good broker, a trader has to go through multiple challenges in his/her trading life. But the biggest of all is to cope with them and be consistent with your trading process.
besides making a good trading plan traders need to develop money management , otherwise no way to bring profit with consistent level at all.
this is really a expensive trading skill that comes after passing a very long time in this market place.
yeah, I believe one should know risk management as well, because only mindful trading with correct market analysis brings returns.
mindful trading comes from real trading experience which is expensive also. its related with mental health.
there is no challenge to be a Forex trader but there is a good challenge to be a profitable trader. good luck
As a beginner you might find the whole concept of trading challenging, which normal. You must focus more on learning and developing the required skills.
Agree! Money management is important to know whether you are using your funds in a proper manner that otherwise could lead to drainage of your funds. So, make sure you keep track of the flow of your money.