How can I be an expert in forex trading?
give some factors to be an expert trader of forex.
How can I be an expert in forex trading?
Study for months at the school here, taking all the quizzes.
Practice as you study
Read most, if not all, the threads on here. This will show you the problems facing traders and the mistakes we make.
When you finish the school devise a strategy and trading plan that suits you, not anyone else, one that fits your lifestyle, temperament, finances, commitments, etc. The school will help you here.
Thinking more ,almost everyday
The start would be indeed conpleting the School of Pipsology | Learn Forex Trading
96% of the new traders at babypips don’t have the discipline to even finish this seemingly easy task. Try to get in that 4%
Good luck! :23:
Just an observation:
Being an “expert in forex trading” isn’t necessarily the same as being a profitable trader.
Keep learning and being motivated, become expert forex trader need good learning and experience, and also they need strong psyhology which will always having high dedication to survive and learn to achieved goal with keep making effort and struggle
One becomes an expert in forex trading the way they do in everything else, I suppose - with lots of study, practice and experience. It does require some effort, but all good things do.
1.Learn the basic from internet (babypips or other forums)
2.Learn to analyse the chart using available theory (such as Elliot wave and Volume spread analysis). I spend about 5-6 hours a day to check chart moves and makes notes.
3.Practice your mentality and strategy or trading style (this stage will take longer any above statement) this including watching chart and trade with your strategy. don’t forget to learn how to manage your trade and put notes on every trade. because you need to have specific reason to enter trade. not just because you want to.
Got to go with rhodytrader on this. Happy just making a dollar. Desire to become an expert - none. There is no correlation.
Keep looking at the charts and when it is quiet start looking at charts from the past. Let your brain get used to the patterns and it will grow on you. The only way to help you to become a good trader is to gain ‘the knowledge’ by memorizing charts. It is a long tedious proces.
as the guys are all saying …its about screentime and experience …cant be done overnight…take your time to learn th basics …then gradually specialise…certain markets and systems will attract you …but you have to look around the shop a lot first and try stuff on !!
don’t rush in and blow the bank on forst system you like …it will destroy your confidence…
research , explore , absorb everything …it takes years to get rolling …but if you are ready to commit the time and energy then it will happen eventually
Repeat: “I am an expert in Forex trading.” There. You are an expert. Everyone can be an expert.
But if you want to be profitable, then you should work hard and learn new strategies, and implement everything you’ve learned to your trading. Eventually, after years of practice you can be quite profitable.
You can’t. There is a chance to become one, but it is a very small one. Means the odds are against you. More than 90% of people will fail to succeed.
One always hopes they’ll be one of those 10%. I firmly believe it’s possible, but it take some effort.
I think it is false that 90 % will be fail to succeed. It depends on your level of hard work and passion you can be make more than 10% successful people in forex trading with your efforts. There is no fix rule of failure or success. If others can win we can also be one of those great people one day .
The big problem with the experts that you find them everywhere, and they are still under educateing !
[B]Definition of an examined graduated expert, a person who has done and experienced and learned from every conceivable and inconceivable mistakes that can be made in their field.
A graduate forex expert you will not find in retail world ,as an example of FXCM daily fx experts is still
in education but today who work as clowns and entertainers for FXCM its members.
Had they been good so had they worked somewhere else with significantly higher salaries.
If you want to [I]test[/I] someone’s expert proficiency, start following their suggestions on a demo account.
If we are trading in the Demo accounts then the risks will be minimal and this will also let us learn our trading easily and comfortably with no risks at all
for us to be one of the expert trader of forex, we need to learn more and enhance our trading ability. make good strategy that can make you profit. always think positive, emotions can affect your trading. create good plans for you to reach your goal here in forex.
If you are making more profit than loss consistently then congratulations, you’re a Forex trading expert. As to how to get there - apart from studying and trading a lot, I don’t know. That is what we all strive for, but not all of us succeed.