The best way to be successful in the forex market - Page 2
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  1. #11
    Join Date
    Sep 2011
    Posts
    576
    1. Study by yourself and get experience.
    2. Find a mentor or experienced trader to help you.
    3. Develop your own trading system and strategies.

  2. #12
    Quote Originally Posted by Haley12 View Post
    1. Study by yourself and get experience.
    2. Find a mentor or experienced trader to help you.
    3. Develop your own trading system and strategies.
    I agree, and I would also add "Have faith in yourself." It baffles me how many traders will get excited about their system and the potential future profits and as soon as the first loser comes, they turn their back on a system they were very excited for 30 hours ago. A Trader who believes in their own ability will have the strength to push through the losers.

  3. #13
    Join Date
    May 2012
    Posts
    143
    Great comments in this thread! Very true and speaking loudly of mature experience.

  4. #14
    Join Date
    Aug 2012
    Posts
    5
    Once having made the decision to perform in the forex trading investor industry, you need to be conscious of the primary attributes you need to obtain to create it a effective project. With many guides and content to information you, the specialized and essential research can be clearly determined. But, over and above these statistical computations, as a forex trading investor, one must be in ownership of the following characteristics:


    Trading Forex Currency
    Last edited by forexexplore1; 08-05-2012 at 11:48 PM.

  5. #15
    Join Date
    Apr 2013
    Posts
    9
    Quote Originally Posted by geline View Post
    I have learned from one of the fx forums that the three best ways to be successful in forex trading are as follows:

    1. Study by yourself and get experience.
    2. Develop your own system.
    3. Find a mentor to help you.

    This is according to ranking (they had a poll).

    For me, I think it should be this way:
    1. Study by yourself and get experience.
    2. Find a mentor to help you.
    3. Develop your own system.

    or perhaps find a mentor then study and develop should be last.

    What do you think?
    As we know, we all have different styles of learning and we all know which style fits to our personality. So use it according to that. i think

    1 self experience more teach us
    2 find the mentor
    3 develop our own system

    this is the correct way.

    for more : Currency Online - Foreign Currency Exchange, Money Transfers, International Payments

  6. #16
    Join Date
    Mar 2013
    Posts
    43
    Our learning ability varies. In order to succeed, you must;
    Study on your own and learn the basics
    Open a demo account with a good broker and trade for one month
    Develop your own strategy and if possible get a mentor
    Open a live account and deposit a very small amount of money to test your ability after demo trading for one month.
    Continue to ask questions, read articles, join forum discussion.

  7. #17
    Join Date
    Apr 2011
    Posts
    141
    If everyone keeps talking about finding a mentor and not getting burned. Well where are these mentors? There's supposedly lots of people who know how to trade successfully but won't help others out beyond telling a person to read a book or go through the babypips school (which I'm sure like most of us has already been done numerous times). Where's the mentor that will actually help a person be successful side-by-side, or that will wait until money has been made in the market before asking for their $10k? It's obvious that a person trading with a $500 account is probably not rich and doesn't have $10k laying around to blindly give someone who has yet to prove themselves.

    Let's make it a team effort why don't we? If the mentor successfully teaches a person to trade and the first month the trader is up $2000, then let's talk percentage. Would 25-30% of the profits earned for the month be appropriate? This allows for the account to continue building so that even more money can be made for both trader and mentor; and if the trader doesn't pay the mentor then there won't be a next month of mentoring. So it seems to me that a partnership such as this would work out for everybody, but I have yet to come across a 'mentor' who doesn't sound like they are in need of money.

    So where are all the honest mentors? I would be very happy to pay someone a percentage of profits that were made as a result of their mentoring. Or some kind of arrangement could be worked out.

  8. #18
    Join Date
    Jun 2011
    Location
    Santa Cruz - Bolivia
    Posts
    1,965
    Except for the mentor part, I am agree with you

  9. #19
    Avoid self proclaimed experts

    These typically do the following
    - Regurgitate generic old information that doesn’t work
    - Claim to be rich full time traders
    - Try to sell you books, signals, systems, etc.

  10. #20
    Join Date
    Mar 2013
    Posts
    10
    screen time + good knowledge = success
    ps. patience is also very helpful

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