Rule #3: never stop learning.  That’s what you are paying for.  There are no quick, easy or foolproof methods of making a living by online forex trading.  If there were any, everybody and their mother would be doing it.  Learning is what gradually shifts the chances in your favor.  Online forex trading without knowledge is a game of chance.  With knowledge, it’s an art form.

Rule #4: never trade without having a clear reason for each particular trade.  A hunch doesn’t cut it.  Unless you are omniscient, in which case you wouldn’t be reading this, each trade (or a number of trades) must be planned according to some strategy, and then the result must be analyzed. Doing it in writing helps a lot.  Without this, you can’t learn.

Rule #5: never trust any kind of forex strategies “proven“ by backtesting.  That includes published results as well as your own research using any sort of commercial software or your forex platform.  This is a subject that can’t possibly be covered in one article, and a proper explanation will probably take several books.  Research this on your own.  Until you know exactly what backtesting is, and exactly how your forex platform does it, you can only trust negative backtesting results.    

When does your apprenticeship end?  It depends on how hard you learn, but generally, it is when you can take a series of planned losses without regret, and continue to be confident in your trading plan.  Online forex trading requires both resolve and knowledge.