Hopefully it also helpful :
Self confidence grows with time, if the trader makes profitable deals. If the trader trades with loss of profit, he won’t have any self confidence.
Yes self confidence comes when you make success Only loss will loose your confidence. When you make small victories , are able to get your targets then confidence s built in you. Then you can work with more passion in forex trading.
My first tip is to do much practice on demo before you start real trading . Then ever trade in low risk until you had a good grip on trading. Your emotions should not disturb trading. Try to do trading when you are really ready and prepare for it,
I consider this very, very bad advice. First, only play in a demo account long enough to get the feel of the platform. You still can’t play golf just because you just spent 10 years playing online. The emotion/psychological aspect of trading can only be understood if you trade real money. You have to invest in your training/trading at the end of the day and be prepared to loss that money. Speculating is not for everyone.
I stand by one of my original comments, trading itself is very boring.
I am very new to this. How do you know what is a low risk trade?
As a beginners first tip is to get knowledge of trading and then practice ob trading. You have to trained your self in low risk trading because you will not invest a big amount as a starter. Low risk trading is safe and valuable works for long time .
Generally speaking, a low risk trade is, for example, the one where you have a very obvious and sure signal for. Obviously, in order to be able to recognize such signals you have to spend some time studying and practicing.
When I started trading, a trade in profit was a thrill. A winning trade was a rare but glorious occasion. A losing position or losing trade was the opposite, and much more frequent. I was emotionaly affected by every pip of every trade.
Over the years, Ive managed to replace emotional attachment to trades with a growing faith in the long term results of my method.
I finally understand what experienced traders mean when they say that losing trades are a part of the business. Ive also learned that losing trades are the best way to learn how to trade.
My pyscological response is different now because my perspective when it comes to trading is radically different.
This is my general philosophy:
I dont make PREDICTIONS. I look for OPTIMUM OPPORTUNITIES to take CALCUALTED RISKS.
I cant PREDICT price, so I dont try. If I go long, its not because I THINK the market is going up. If I go short, its not because I THINK the market is going down.
I go long if a LOW RISK OPPORTUNITY presents itself that will allow me to CAPITALIZE if the market happens to go up. I go short if a LOW RISK OPPORTUNITY presents itself that will allow me CAPITALIZE if the market happens to go down.
IF I LOSE, its not because I was WRONG. IF I WIN its not because I was RIGHT. As a matter of fact, my DEFAULT EXPECTATION is that my trade will END UP LOSING. HOWEVER, my DEFAULT LONG TERM EXPECTATION Is that the AGGREGATE result of my method as a whole will RENDER A PROFIT IN THE END.
I dont see it as a matter of WINNING or LOSING. The emphasis isnt on WINNING %. The emphasis is on LONG TERM RESULTS.
This mindset allows me to take the emotional attachment out of trading. These days, I simply think of WINNING and LOSING trades as PART OF THE BUSINESS. I dont get HIGH on my WINS because I know a LOSS is sure to follow. I dont get low on a LOSS because I know WITH TIME, the OVERALL NET RESULT WILL BE POSITIVE.
Thats the way I see it. Happy trading and best of luck guys. I wish everyone nothing but success. 
I really couldn’t have put it better. Newbies truly need to understand that Forex trading is a marathon, it’s not a sprint. You can’t expect to get rich overnight. If you don’t go into trading with inflated expectations you’d also be a lot less stressed.
My useful and tested tip is to have patience in trading. New traders should learn this art on demo trading. As much time they will spend in trading it will clear there ideas then never do trading in less time you need full analysis and market watch then do trading with proper risk.
I am not sure how one would learn patience on demo trading, when the live trading experience is what causes the true anxiety. At least that has been my experience - I thought I was all patient and prepared while trading on a demo account, but once I opened a live account I realized how terribly unprepared I was.
good post, excellently put. thank you