There are undisputed facts you should know before entering this great world of Forex market.
All Forex traders, and we mean all traders LOSE money on trades!

It is a fact that 90% of traders lose money, largely due to lack of planning and training and having poor money management rules. Also, if you hate to lose or are a super professional, you'll probably have a hard time adjusting to trading.

• Trading Forex is not for making a living from nothingness!

Make a limit for your loss and be honest with yourself. You should have at least $10,000 of trading capital (in a mini account) that you can afford to lose. Don’t expect to start an account with a few hundred dollars and expect to become a millionaire.

Forex market is considered one of the most popular markets, due to its huge size, liquidity and tendency for currencies to move in strong trends. You would think traders all over the world would make a killing, but success has been limited to very small percentage of traders.
You should know that short term trading is not for amateurs, and it is rarely the track to “get rich quick”. You can't make huge profits without taking huge risks. A trading strategy that involves taking a massive degree of risk means suffering inconsistent trading performance and often suffering large loss. A trader who does this probably doesn’t even have a trading strategy.
Forex Trading is not a Get-Rich-Quick Schema!

• Forex Trading Is A Skill That Takes Time To Be Learnt.

Skilled traders can and do make money in this field. However, like any other occupation or career, success doesn’t just happen overnight.
Forex trading is not that simple as some people would like you to believe. Think about it, if it was, everyone trading would already be millionaires. The truth is that even professional traders with years of experience still encounter periodic losses.
SPADE THIS IN YOUR HEAD: there are NO shortcuts to Forex trading. It takes lots and lots of TIME to master.
There is no substitute for hard work and assiduity. Practice trading on a DEMO ACCOUNT and pretend the virtual money is your own real money. And see what you will do if it was your savings traded in the market.

• Open A Live Trading Account After Trading Profitably On A Demo Account.

If you can't wait until you're profitable on a demo account, at least demo trade for 2 months. Hey, at least you were able to hold off losing all your money for two months right? If you can't hold out for 2 months, cut your hands off.

• Concentrate On ONE Major Currency Pair

It gets far too complicated to keep tabs on more than one currency pair when you first start trading.  Stick with one of the majors because they are the most liquid which makes their spreads cheap.