Pointingmark posted: A broker will not guarantee your success; it is your intellect and wit which help you to gain success in the markets because a broker is just a platform for trading, but the actual control is in the hands of the trader.
Exactly, brokers can only provide you with a medium to trade, success in Forex trading depends only on a person’s knowledge and skills.
I believe that it's tightly connected with your experience. You make right steps that you try to participate in forex related conversations as it's the most profitable for your knowledge way to gain experience, besides practicing and learning trading peculiarities. In my opinion, you should try to remember those terms in order to understand what's going on around trading community. In addition, I should state that you have to write them down and learn like subjects at school in case you can't remember while see them. I just want to tell you that it's okay and you shouldn't bother about it, you just got acquainted with a new sphere.
These little unique words in forex trading convey a lot of information and it’s strange how it becomes impossible to trade without the knowledge of these basic terminologies. I remember how these words sounded alien to me when I was a beginner and now it has just become a part of my vocabulary just like any other trader.
If you are completely new to Forex trading, I recommend reading the basics before attempting any more advanced strategies. Forex trading takes time to learn, and I would advise you to be patient, as it will pay off in the long term.
I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.
How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?
I even search for kind of Forex Dictionary but failed to find one.
Hope that, you won't mind.
Keep studying and take notes of new words. If you are totally unfair, do a good search on the net with the words and find out what that stands for. At the beginning, it seems tough, but surely you will learn all of them.
Some traders ask- mind or machine? Which one is more effective? I always answer mind because your mind always controls your decision. So, make your mind prepared for learning and apply those learned lessons on the market to reap much gain.