The fundamentals you need to be aware of with Forex market are
1) Timing of your trades.. Market being 24 hour poses a significant opportunity and challenge , pick a time you can be available for trading and pick the pair accordingly. usually 4am – 10 am est would be the best time if you can be there
2) Forex is an extremely volatile market , so never use high leverage, anything beyond 1:50 is not good for you and your account. When you pick a broker make sure you have an option to set your leverage low.
3) Any trade you enter , Risk reward is the basic basic criteria ,no matter how attractive the opportunity looks, this will save you lot of grief
4) Never risk more than 10% of your capital on any trade no matter how enticing it looks, reduce your trade size
5) Start with micro lot sizes till you master the platform , timings, mental challenges before you even attempt full lot sizes.
6) Aim for consistency not big pay day
7) Never follow more than one source of advice when you are taking trading advice.
8 ) Eat healthy and have enough sleep
9) Trading opportunities in Currency market are like trains in NY subway, one gone one more coming, so take it easy
10) Know that Trading is all about your mind , everything else is secondary
