Point of 5 Ignoring the risk management is one of foolish mistakes that always repeated again and again by forex ttrader in their trades . greed and over confident is reason why among of them don't care of risk that will face , almost their trade base on ambitions and high target that some times not realistic . This make them ignore of risk management
Greediness is absolutely has in mental at each individually of human , who not want to have more and more , surely all human being have such desire . but when greediness not controlled well them its will burn the achievement that was got. so its bad for those who not have good target for controlling the greediness
Demo is to understand the working of forex market we can trained ourself to use different tools. All results of demo will not apply as well on real account. Traders should do live trading with more care and concern than of demo.
Would you trust a bank that allowed brand new employees to process your live transactions on day 1? Counting money and inputting the deposit to your account is a lot simpler than trading forex, but I'll still bet you would want the new employees to be trained on test accounts before being allowed near your real money.
Even experienced jet pilots spend some time in simulators.