Mechanical system - the key to many of the most profitable traders' success.

A good mechanical trading system automates the entire process of trading.
The system provides answers for each of the decisions a trader must make while
trading. The system makes it easier for a trader to trade consistently because there is a
set of rules which specifically define exactly what should be done. The mechanics of
trading are not left up to the judgment of the trader.
If you know that your system makes money over the long run, it is easier to take the
signals and trade according to the system during periods of losses. If you are relying on
your own judgment during trading, you may find that you are fearful just when you
should be bold, and courageous when you should be cautious.
If you have a mechanical trading system that works, and you follow it consistently,
your trading will be consistent despite the inner emotional struggles that might come
from a long series of losses, or a large profit. The confidence, consistency, and
discipline afforded by a thoroughly tested mechanical system are the key to many of
the most profitable traders’ success.

Practice before you open real account

You want to make sure you understand
what you are doing before you risk real money. I assure you that if
you are losing money in a demo account you won’t magically start
making money by trading a real account.
While you are still practicing your trading in a demo account go
through the steps of opening a real money account. I suggest you
first open a mini account even if you can afford a larger account.
Your mentality will shift once you start trading a real money
account vs. a demo account. Make sure you continue trading successfully on your mini account. After you have practiced some more on your mini account then, and only then consider opening a
“regular” account. Remember to continue using your demo account even when trading
a live account. Practice newer techniques in your demo account.
Use your demo account for trades you are less confident about. The more you practice the better you will become as a trader. Your winning trades vs. losing trades stats will improve.
You’ll become more profitable

How works leverage ?

It’s a simple concept.
If you have $10,000 to trade with, your forex broker will let you borrow money
from him so that you can trade in larger quantities. They will let you borrow as much as 400 times (400:1) what you put up in a trade. Most brokers allow
between 50:1 and 100:1 margin. So, if you put up $1,000, and your broker
allows 100:1 margin, then you’ll be trading $100,000 worth of currency (instead
of $1,000).

AVAtrade Review

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Flags

What is a “flag”? A flag usually appears as a little pause in a
trending price. It is usually a small consolidation pattern with a
distinct slant. In an upwards price move, for example, you might
see a rather short period of time where prices stay with in a parallel
range with a distinct slant downwards. Most often when a breakout
occurs the prices usually continue in the previous direction, but
sometimes does break out for a reversal. The slant usually occurs in
the opposite direction of the direction the prices were originally
trending.

Market Overlap - the best time to trade

 Half way around the
world from somewhere where it is daytime is nighttime. This is
obvious. Now there are three major markets that trade FOREX, the
North American market, the European market, and the Asian market
(including Australia & New Zealand ). The Asian market trades
between 8 pm and 4 am EST (convert these times to your own time
zone), the European market trades between 2 am and 12 pm EST, and
the North American Market from 8 am to 5 pm EST. You will notice
that there are two times when two of the major markets overlap in
trading times; between 2 am and 4 am EST (Asian/European) and
between 8 am to 12 pm EST (European/N. American). Generally
speaking, those are the best times to trade.

Important rules to keep in mind

1- If you ever have two trades that result
in losses back to back in a single day then shut down your computer
and stop trading for the rest of the day. Yes, you may end up
missing a great trading opportunity, but you’re far more likely to
save yourself from more losses.
2- Be
aware of what news is expected to be released and when. If you are
trading a currency pair that will have significant news released then
be sure to exit the trade before the news happens.
3-Never  trade without a protective
stop loss.
4-When in doubt stay out. This means that if you feel uncertain about
a trade then don’t trade.
5-Sometimes
you may think that the market should go in a particular direction.
Only because you end with profit  one time from trade doesn't mean you will rich every time.