How to Become a Successful Forex Trader (without 10,000 Training Hours) (2023)

How to Become a Successful Forex Trader (without 10,000 Training Hours) (1)

Dear traders, some traders hear that success can be achieved overnight, whereas other traders find out that it takes 10,000+ practice hours.

I’m sure you have seen experts and “gurus” advocate for both sides: either the quick success or the need for hard and long working hours. Which one is really true?

This article will explain that both are in fact a myth. We will debunk the false ideas and explain what path is needed to learn how to become a successful Forex trader. (Video is at the bottom)

Effortless “Overnight Profits” is Called Gambling

Get rich schemes flood the internet via ads, emails, and product placements. Forex is an often misused vehicle for such ploys as it offers traders highly leveraged instruments.

Ads will show unrealistic expectations where traders can win big and earn a hot sports car by simply winning just one big trade. This is gambling, not trading. You can win a sports car in Vegas, too, with the same amount of luck.

Learning how to be a successful Forex trader in Forex is unfortunately not that simple. It requires practice, active learning, persistence, patience, and mentoring.

The entire process takes TIME. Why? To build focus, education, persistence, dedication, and experience.

Some traders think they can learn in it 1 day while others think it will take 10,000 hours. Learning experts often refer to the study that coined and popularized the idea of requiring 10,000 practice hours before achieving success. But is it true?

10,000 Hour Rule Is a Myth Too

In our view, the number of hours is not an ironclad guarantee for mastering any particular skill, including how to become a successful Forex trader.

In fact, it could become a seriously dangerous goal if traders start to chase this magical number of 10,000 without really using those hours properly. You might start training with no real direction in sight or in mind.

But, you might be wondering, what about Olympic athletes and celebrated musicians?

Sure, they probably have spent more than 10,000 hours playing their favourite sport or music instrument… But the real question is, what did they do with their time?

Did they succeed due to the time investment? Or was it due to other factors like focused training?

How to Become a Successful Forex Trader (without 10,000 Training Hours) (2)
Image: simple charts are often better, this image shows EUR/USD 4 hour chart with 1 oscillator, 2 moving averages for trend and trend lines for breakouts.

Deliberate Practice is Best Way to Learn Forex Trading

Working long trading hours just to hit the goal of 10,000 hours is bending and misusing the learning curve. Sitting behind the screen non-stop is also not necessarily the most efficient method for learning to trade.

What does work well?

The answer is not “practice makes perfect” but “perfect practice makes perfect.” Yes, the key to learning is consistent, concentrated improvement.

You need to practice with a clear goal in mind and practice “deliberate practice”, which is a focused training with aim of improving.

Experts have managed to become experts in their fields because they:

  • Pay attention to the process.
  • Learn from their mistakes.
  • Show a full concentration on improving one aspect of their skill set.

It is vital that you, the trader, learn to apply small incremental improvement points each step along the way. Never miss the opportunity to learn and break the old routine and exchange it for a better process.

The 2014 paper on “Deliberate Practice and Performance in Music, Games, Sports, Education and Professions: A Meta-Analysis” by Macnamara and others concludes that “individual difference in performance is reflected by the difference of deliberate practice.”

They found that “deliberate practice explained 26% of the variance in performance of games, 21% for music, 18% for sports, 4% for education, and less then 1% for professions”, adding that “deliberate practice is important, but not as important as has been argued.”

We suspect that trading is in the same group as music and sports: deliberate practice is important but not everything. What else could play a role?

How to Become a Successful Forex Trader (without 10,000 Training Hours) (3)

Price Patterns are the Missing Link in Failing Trade Systems

Although focused practice is an important part of the process, it also matter what you focus on. If you study 5000 hours of moving average crossover systems, your efforts will be wasted because the system is useless.

Traders should really focus on learning to recognise, read, understand and interpret price patterns. They will always improve your analysis and trading system because they provide key information about price swings move and how the larger market structure behave.

Only analysing trend or support and resistance does not provide the same level of detail and depth that patterns can provide. Price patterns will provide the balance needed for any trading system as follows:

  1. Know when ranges end and trends start.
  2. Recognise when trends will continue or reverse.
  3. Spot which support or resistance levels will break or hold.

Price patterns help estimate how to avoid weak trade setups, when to enter, when to exit and how to manage open trades. The best price patterns are:

  1. Impulse and correction patterns
  2. Chart patterns
  3. Wave patterns
  4. Divergence patterns
  5. Candlestick patterns
  6. Fractal patterns

Price patterns work because they repeat on all time time frames and markets and are essential to any trading system. Patterns are the most important ingredient when analysing the market structure.

A successful Forex trader spends a ton of time focused on learning patterns and market structure. Fully focus on learning how corrective waves work and how they break. This is actually valuable experience.

Learn from a Successful Forex Trader / Expert

Deliberate trading is only one aspect.of the equation. Learning the right material is the next step.

The third part is voluntary but will help accelerate your learning curve: follow the guidance of a professional in their business who will offer a clear road map and feedback.

Simply said: if you are interested in playing violin, ask the violinist for his guidance. If you want to be a successful Forex trader, find a professional Forex trader and seek their advice.

Why is this important?

Successful Forex mentors can offer 3 key skills:

  • Offer valuable advice in your path of development.
  • Provide objective feedback of your trading and performance.
  • Guide you how to reach the finish line.

A trading journey is a like a marathon, not a sprint.

Some traders will be quicker than others but all of us can improve our odds of becoming consistently profitable if you are mentored or coached by a pro trader (or at very least someone with more experience than yourself).

The mentor, however, will not perform magic. You still need to implement and learn from the lessons yourself.

Also, be careful that your personal style matches with the coach. Everyone has their own preferences, and you need to make sure that you feel comfortable with the new methods.

How to Find a Successful Forex Trader

How do you find truly successful Forex traders?

We recommend doing some of these 9 evaluation steps to help make this judgment:

  1. Check Forex Peace Army and see what other traders think (traders have shown their appreciation for our work via their ECS reviews).
  2. Follow their analysis and webinars and see if their analysis helps your trading (traders love our analysis and webinars).
  3. Read their educational articles, ebooks and try to learn the bigger message.
  4. Send them an email or tweet and ask them questions.
  5. Check out their strategy stats.
  6. Check out their performance.
  7. Try out their free material and see if it works and helps your trading.
  8. Check out their reviews and testimonials.
  9. Ask your potential mentor to provide references from other traders.

How to Become a Successful Forex Trader (without 10,000 Training Hours) (4)

Forex Range Bar Trading

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How to Be a Successful Forex Trader

The conclusion is simple: your trading strategy is not your biggest ally nor is it your biggest weapon.

The most important is the cycle of feedback:

  1. Receive critical feedback from a successful Forex trader.
  2. Improve trading mistakes with focused attention and practice.
  3. Keep focusing and working on areas of improvement.
  4. Reduce the attention provided to areas that work well.

Step 4 is important as it allows traders to automate areas where you are doing well. The same happens when you learn to drive a car: at the start everything is new and deserves your attention. Eventually, certain tasks become routine and you can do them automatically, like shifting gears or turning the steering wheel.

Choosing the Right Focus as a Forex Trader

As mentioned earlier in the article, every trader has their own personal style. You need to find a mentor that will suit your own natural way of tackling the Forex and financial markets.

The two main choices within technical analysis are:

  • Strict rule based systems like ecs.CAMMACD from mentor Nenad Kerkez.
  • Analytical wave trading systems like ecs.SWAT from mentor Chris Svorcik.

Once you found the right style and mentor, then it’s time to make progress with the rules and guidelines of the trading system or method. Do not start from scratch, but rather keep pushing forward.

Here are the 7 main steps to learn day in and day out:

  • Choose a plan that suits you – make it match.
  • Have a plan – from a successful Forex trader.
  • Trade that plan – with deliberate practice and focus.
  • Stick with the plan – with consistency and persistence.
  • Optimize the plan where needed – learn from the mentor.
  • Handle the plan – learn how to deal with emotions from your mentor.
  • Have fun – enjoy your path of learning.

What do we mean with handle the plan?

Having a trading plan will create a trading bias, which in turn creates emotional ties to your analysis and trades. Traders should not remove emotions but rather learn how to handle them. Ultimately, trading is using that bias only when your bias is right.

How to Become a Successful Forex Trader (without 10,000 Training Hours) (5)

Heiken-Ashi Guide & Tools

Enjoy Nenad’s favourite camarilla & heiken ashi indicators and trading methods.



Becoming A Forex Trader

The steps mentioned in this article will help you find the correct process to become a professional trader. It becomes a lot easier to succeed if you actually like your method of trading because learning becomes fun (or at least not annoying).

Of course, feel free to continue your journey with us – Nenad and Chris – at Elite CurrenSea but this is not the goal of the article. Our main job is that you find trading success. We are just as happy if you succeed with our trading systems or someone else’s.

We are confident that if you apply the lessons we teach, there is a good chance of finding trading success. Dozens of traders reach out to us each trading week thanking us and showing their success, here is one example of a trader in the image below.

How to Become a Successful Forex Trader (without 10,000 Training Hours) (6)
Image: a trader is happy with his help from Nenad.

Nayvin used Nenad’s work via Admiral Markets webinar and made $15,000 over the summer using 1 min scalping. We are happy to be part of his success and his ability to find:

“Freedom Through Trading!”.

Remember, the key is to avoid a false start and not lose perhaps a couple of years chasing a goal – mindlessly – with little relevance (like the 10,000 hours).

Simply said: do not waste too much time with reinventing the wheel yourself while others are driving cars on the expressway. 🙂

Many green pips,

Nenad and Chris


How to Become a Successful Forex Trader (without 10,000 Training Hours)? ›

Yes, you can earn USD $300 per day through Forex. Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% a month thanks to leverage. Also remember, you don't need much capital to get started; $500 to $1,000 is usually enough.

Can you make $300 a day from forex? ›

Yes, you can earn USD $300 per day through Forex. Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% a month thanks to leverage. Also remember, you don't need much capital to get started; $500 to $1,000 is usually enough.

How much money do day traders with $10000 accounts make per day on average? ›

Profit Margins

If you have a trading account of $10,000, a good day might bring in a five percent gain, or $500. But there's also the problem of fixed costs -- specifically, the commissions charged by brokers.

Can I be a self taught forex trader? ›


Individual study is the first and the most accessible way to learn to trade the forex market. This type of training implies that you have to go by yourself all the way, from the very beginning to the end.

What is the 10000 hour rule in forex? ›

In it, Gladwell claims that guided practice for 20 hours/week, 50 weeks a year for 10 years = 10,000 hours; this is the “magic number of greatness” where a person could achieve a level of mastery that would rival that of a professional.

Do you need $25,000 to day trade forex? ›

First, pattern day traders must maintain minimum equity of $25,000 in their margin account on any day that the customer day trades. This required minimum equity, which can be a combination of cash and eligible securities, must be in your account prior to engaging in any day-trading activities.

How much can a day trader realistically make? ›

The annual salary for day traders ranges from $88,000 to $154,000 per year. About 68% of day traders have a bachelor's degree. The three most common skills for day traders are technical analysis, equities, and market trends.

Can you make 500 a day day trading? ›

In terms of money, that means not giving up very much profit potential. For example, a part-time trader may find that they can make $500 per day on average, trading during only the best two to three hours of the day.

Can you make 100k a year day trading? ›

Day Trading Is More Familiar Than Derivatives, But Nearly as Risky. While derivatives trading is alien to the average investor, the concept of buying stocks, selling them at a profit and harvesting the gains is not — and if you're good, you can get to $100,000.

How many hours a day do day traders work? ›

Most independent day traders have short days, working two to five hours per day. Often they will practice making simulated trades for several months before beginning to make live trades. They track their successes and failures versus the market, aiming to learn by experience.

What is the fastest way to learn Forex? ›

Tips for Forex Trading Beginners
  1. Know the Markets. We cannot overstate the importance of educating yourself on the forex market. ...
  2. Make a Plan and Stick to It. ...
  3. Practice. ...
  4. Forecast the “Weather Conditions” of the Market. ...
  5. Know Your Limits. ...
  6. Know Where to Stop Along the Way. ...
  7. Check Your Emotions at the Door. ...
  8. Keep It Slow and Steady.

How long will it take to learn forex trading? ›

On balance, it takes an average of around one year to learn how to trade Forex, but can take anywhere from 6-24 months. The basic technical analysis elements can be learnt in a few weeks, but the risk management and psychology will take longer – around a year or longer – to grasp the more you practice trading.

Why am I failing as a forex trader? ›

Overtrading - either trading too big or too often – is the most common reason why Forex traders fail. Overtrading might be caused by unrealistically high profit goals, market addiction, or insufficient capitalization. We will skip unrealistic expectations for now, as that concept will be covered later in the article.

What is the 5 3 1 rule in forex? ›

Intro: 5-3-1 trading strategy

The numbers five, three and one stand for: Five currency pairs to learn and trade. Three strategies to become an expert on and use with your trades. One time to trade, the same time every day.

What is the 15 minute rule in forex? ›

With this strategy, scalp trading on a 15-minute timeframe will generally require larger stop losses because of the higher timeframe. As a guide, a stop loss can be placed below a recent swing low, while a target can be placed at a level that offers a 2-to-1 risk vs reward ratio.

What are the busiest forex hours? ›

The forex market runs on the normal business hours of four different parts of the world and their respective time zones. The U.S./London markets overlap (8 a.m. to noon EST) has the heaviest volume of trading and is best for trading opportunities.

Can you live off day trading forex? ›

Yes, living off day trading income is very much possible, but it can be very difficult to achieve. In fact, it's not necessarily easier or less demanding than doing a regular 9-5 job, and you are not even sure that you can be consistently profitable enough to sustain your lifestyle.

How do day traders avoid taxes? ›

The first way day traders avoid taxes is by using the mark-to-market method. This method takes advantage of the ability of day traders to offset capital gains with capital losses. Investors can get a tax deduction for any investments they lost money on and use that to avoid or reduce capital gains tax.

Can you make a living as a day trader? ›

The answer is yes. There are half a million people in India day trading for a living. Do you feel day trading is a way to make easy money? Or, you may think it does not need as much work as a regular job.

How much do day traders pay in taxes? ›

How is day trading taxed? Day traders pay short-term capital gains of 28% on any profits. You can deduct your losses from the gains to come to the taxable amount.

What is a good return for a day trader? ›

Win rate is interlinked with reward-to-risk. Day traders should strive to keep their win rate near 50% or above; that way, if the reward-to-risk on each trade is 1.5 to 1 or above, you will be a profitable trader. Suppose you can maintain a 1.5 reward-to-risk over 100 trades.

Is it hard to make $100 a day trading? ›

You're really probably going to need closer to 4,000 or $5,000 in order to make that $100 a day consistently. And ultimately it's going to be a couple of trades a week where you total $500 a week, so it's going to take a little bit more work.

Why is day trading so hard? ›

Volatility - At times, the financial market can be extremely volatile, which makes it extremely hard to operate. Impatience - At times, traders are increasingly impatient when starting their careers. They want to start today and succeed tomorrow. Well, patience its one of the key to succeed as a trader.

Is $1000 enough to start day trading? ›

A guideline is to risk no more than 1% of your account on each trade. But if you have $1000, only the Forex market is feasible to trade, and still follow proper risk management. The other markets will incur a higher transaction cost and the minimum size is too large relative to your $1000 account.

How to make $1,000 a day trading? ›

To earn $1,000/day, you need to invest $100,000, an amount that is enough to fund your retirement for a long time. Or start with small investments for individual stock options and flip your stocks in a more short-term aspect. For simplicity, it could be split between stock and cash investments.

How much does the average forex trader make? ›

Forex Trader Salary
Annual SalaryHourly Wage
Top Earners$260,000$125
75th Percentile$172,000$83
25th Percentile$54,500$26

Can you be a millionaire day trading? ›

Yes, you can become very rich from day trading if you are lucky and everything goes just right, but it is extremely difficult. Most people fail in day trading because the odds are already against them as retail traders.

What is the 1 rule in trading? ›

One of the most popular risk management techniques is the 1% risk rule. This rule means that you must never risk more than 1% of your account value on a single trade. You can use all your capital or more (via MTF) on a trade but you must take steps to prevent losses of more than 1% in one trade.

How long to hold a forex position? ›

In the forex market, a trader can hold a position for as long as a few minutes to a few years. Depending on the goal, a trader can take a position based on the fundamental economic trends in one country versus another.

How long does it take to be a profitable trader? ›

Profitability comes over a succession of trades. How long that is depends on your time frame and strategy. It can take years of study and then more years of trading experience to reach profitability. It requires a good mix of knowledge, smarts, experience, intuition, and the ability to evolve.

What is the trick to Forex trading? ›

One of the most important rules is to trade with the trend: if the market is going up, place a 'buy' trade; and if it's going down, place a 'sell' trade. It's probably not a sensible idea to attempt to pick the top or the base.

How hard is it to be successful at forex? ›

Anyone can make money in the forex market, but it requires patience and following a well-defined strategy. Therefore, it's important to first approach forex trading through a careful, medium-term strategy so that you can avoid larger players and becoming a casualty of this market.

What's the most profitable way to trade forex? ›

Position Trading Strategy

Unlike day trading, position trading requires you to hold a position for weeks or even years. It is the best forex strategy ever, as traders don't have to deal with short-term price changes. This strategy is best for patient traders.

What is the hardest month to trade forex? ›

The forex calendar is divided into three periods of volatility. Out of these three periods, only two offer the best trading conditions. In June, July and August, volatility slows down due to the summer season, making it the worst time to trade forex.

What is the easiest time frame to trade forex? ›

For some forex traders, they feel most comfortable trading the 1-hour charts. This time frame is longer, but not too long, and trade signals are fewer, but not too few. Trading on this time frame helps give more time to analyze the market and not feel so rushed.

How to start day trading with no experience? ›

How to become a day trader
  1. Open a brokerage account. ...
  2. Ensure your account meets the equity requirement. ...
  3. Conduct at least four trades within five days. ...
  4. Verify that your day trades make up over 6% of your total trades. ...
  5. Consider joining a day trading firm.
Feb 3, 2023

Why 90% of forex traders lose money? ›

One of the biggest reasons traders lose money is a lack of knowledge and education. Many people are drawn to trading because they believe it's a way to make quick money without investing much time or effort. However, this is a dangerous misconception that often leads to losses.

Why do 95% of forex traders lose money? ›

The most obvious reason that explains why almost 95% of traders fail in forex trading is down to a lack of a proper trading plan. The only way you will manage to become a consistent and profitable trader is by treating trading like a real business.

Why is forex so hard to trade? ›

Maximum Leverage

The reason many forex traders fail is that they are undercapitalized in relation to the size of the trades they make. It is either greed or the prospect of controlling vast amounts of money with only a small amount of capital that coerces forex traders to take on such huge and fragile financial risk.

What is 123 rule in trading? ›

The 123-chart pattern is a three-wave formation, where every move reaches a pivot point. This is where the name of the pattern comes from, the 1-2-3 pivot points. 123 pattern works in both directions. In the first case, a bullish trend turns into a bearish one.

What is 90% rule in trading? ›

The 90/10 investing strategy for retirement savings involves allocating 90% of one's investment capital in low-cost S&P 500 index funds and the remaining 10% in short-term government bonds. The 90/10 investing rule is a suggested benchmark that investors can easily modify to reflect their tolerance to investment risk.

What is the 80 20 rule in forex? ›

The 80 - 20 rule applies to many other areas of life - including Forex trading, and in simple terms, the key point to consider is this: 80% of your results will be generated by 20% of your efforts. This also means that: 20% of your results will be generated by 80% of your efforts.

Can you make 5% a day forex? ›

Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% per month, thanks to leverage. Remember, you don't need much capital to get started; $500 to $1,000 is usually enough.

How long should you trade forex a day? ›

Best forex timeframes for day traders

Day traders tend to take a short-term approach, with most choosing timeframes lasting from 15 minutes to four hours.

What time should I stop trading forex? ›

The forex market is open 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday. The ability of the forex to trade over a 24-hour period is due in part to different international time zones.

Should you hold forex overnight? ›

Forex traders will generally take the risk, cost of capital, leverage changes, and strategy into account when deciding to maintain an overnight position. The goal of keeping an overnight position is to try to increase profit on the trade by holding it overnight or by minimizing the loss of a losing daytime trade.

Is it good to trade at night? ›

Night trading on the forex markets has advantages for new traders as volatility tends to be lower and for experienced traders using scalping or automatic trading strategies that tend to work well with less volatility.

What time of the year is best to trade forex? ›

This makes autumn months the best time of the year to trade Forex. By the second half of December, trading activity slows down - much like in August. The few weeks before and after Christmas are the slowest. It's not until mid-January that the markets start to pick up.

How much money does forex generate a day? ›

Foreign exchange, or forex, is the largest financial market in the world, with an estimated daily turnover of $5.3 trillion. This market is the place where currencies are traded, and it is open 24 hours a day, five days a week.

Can you make a lot of money day trading on forex? ›

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

How many lots is $100 in forex? ›

Fortunately, any viable trading plan can be traded with a $100 account since most brokers will let you trade in micro units or 0.01 lots.

How long does it take to be profitable in forex? ›

In general, it takes around 6-12 months to start making consistent profits from Forex trading. However, this is only if the trader is putting in the time and effort to learn and practice their trading strategy.

How long does it take to learn forex? ›

Average Time it Takes to Learn Forex

Some people might be able to pick it up very quickly and start trading within a few weeks. However, for most people, it will take at least a couple of months to get to grips with the basics. After that, it can take years to become really good at it.

Which is better crypto or forex? ›

Volatility. Both markets are volatile, however cryptocurrencies tend to experience more volatility than forex pairs. This means crypto prices are highly likely to be affected by even the smallest of market movements, leading to significant fluctuations in a single trading session.

How to make $1,000 a day fast? ›

How to Make 1,000 a Day
  1. Sell off things you don't need.
  2. Get Paid to Do Market Research.
  3. Get Paid to Shop.
  4. Resell Sneakers.
  5. Sell an Online Course.
  6. Trade in Used Textbooks.
  7. Ask Your Boss for Overtime.
  8. Deliver Pizzas.
Mar 13, 2023

How to make $1,000 daily? ›

8 Ways to Make $1,000 a Day Online in April 2023
  1. Invest In the Stock Market. ...
  2. Create an Online Store. ...
  3. Create Online Course Content. ...
  4. Build a Blog. ...
  5. Build Websites for Others. ...
  6. Domain Trading. ...
  7. ProfitFarmers - The World's First Free Crypto Trading Co-Pilot. ...
  8. Use a Bot for Trading Cryptocurrency.
Mar 28, 2023

How to make $3,000 fast? ›

How To Make $3,000 Fast
  1. Online Freelancing. One of the most straightforward ways to get $3,000 fast is to sell your skills online as a freelancer. ...
  2. Sell Stuff You Own. ...
  3. Try Driving Gigs That Pay. ...
  4. Complete Odd Jobs For Cash. ...
  5. Work Overtime. ...
  6. Start An Online Business. ...
  7. Consulting.
Aug 25, 2022

Is forex harder than day trading? ›

Market Hours

Traders can trade stocks nearly 24 hours a day from Monday through Friday, but it isn't particularly easy to access all those of markets. Forex trading, on the other hand, is much easier to do around the clock, Monday through Friday.

Can I trade forex for a living? ›

Yes, it is possible to make a more than decent living with forex trading. However, in order to do that, you must become a profitable trader. Once you are making consistent profits, and are among the top forex traders, you stand the chance to become a profitable trader with your own funded trading account.

Can forex be a full time job? ›

If you're committed to the idea of becoming a full-time Forex trader and want to quit your job immediately, there are a few things you need to consider. Trading Forex full-time is a high-pressure job and once it becomes your only source of income, there is no margin for errors.

Which lot size is better for beginners? ›

Micro lots are recommended for beginners as you can minimize your risk while trading. In addition to the micro-lot, there are also mini-lots, which are 10,000 units of the currency that replenishes your account. This is essentially 10 times larger than the Micro Lot.

What lot size is good for $10 forex account? ›

These lot sizes will allow you to trade efficiently with a small initial investment. Opening a position with a 0.01 lot size, for example, would cost $1,000 or $10 with leverage.

What is the best leverage for beginners? ›

Forex traders should choose the level of leverage that makes them most comfortable. If you are conservative and don't like taking many risks, or if you're still learning how to trade currencies, a lower level of leverage like 5:1 or 10:1 might be more appropriate.


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