To think like a great trader you have to attain the skills of a great trader. Forex trading is a work of professional. You need specific knowledge and skills. It is not that you come and learn how to buy and sell and start making money.
Skill is the only thing we need to get success in trading. Market analyzing skills and emotions control skills both are needed. And it takes time to get those skills. So there is no short cut to make money in forex. It seems easy but it's not.
Results in Forex trading depend on your experience. The more you develop the skill, the faster the profit will increase. Trading requires a combination of many strategies and if the combination is not good, it is not possible to succeed. So it is very important to develop skills.
if any newcomers dont use stop loss, of course he will fall a great loss , because without stop loss it looks a condition , a ship in an ocean without a rudder. so its your choice , take it or leave it.
People know that they need skills but they are not willing to give time in learning. They become restless to make money that after few months demo trading they jump into live trading. Then their run for a ready made strategy begin.
We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.