How do people learn to be a successful trader?

I have been trading for a couple of years and still wouldn’t describe myself as successful.

So what is the best way of getting to the next level

Read a book(s)?
You tube - which channel
Find someone as a mentor - who to trust?
Re do the school of pipsology

Seriously I want to find the best medium for me to develop and become consistent so any pointers would be great thanks

One of the first steps in finding out how to get it right is to sort out what you were doing wrong so far. After a few years of trading you should be able to look back and identify some common elements that led to losses.

For example, were you getting stopped out too often? were you over trading? were you consistently following your strategy? did you have a strategy? were your position sizes too large with excessive risk?

It is a teasingly frustrating exercise and you are certainly not alone in it. Afterall, the markets are only going to either go up or go down! So we only need to decide which of these two options we think will happen, and then decide how far if we are right and how far if we are wrong.

So are you getting the direction wrong or suffering from small gains and big losses?

Looking at these issues should help you identify the problem - and then finding the solution is a little more defined! :smiley:


I second this.

Look back at your journal. If you don’t have a journal, start one.

You’re looking for a mentor. A forex master.

There is one place that you have not looked. And it is there, only there, that you shall find the master: your charts! Review your trade history!



Can’t agree more.

This is when you reach a dead end (there is only so much worth learning,well theory)

the next stage is a sort of realisation

Hope that doesn’t sound claptrap :blush::open_mouth:


I agree. Look at your mistakes and make a list of what mistakes you make. Do a tally. You’ll probably find a pattern in a week’s worth of trades.

Redoing Pipsology might not be a bad idea. I did it. The second time around, you see things differently. The information didn’t change–you did!

Keep grinding and adjusting!

Keep us updated. I’m curious how this turns out for you!


Yes good idea, people talk about institutional trading as oppose to retail . Retail traders maybe have more choice they don’t even have to trade at all unless they are desperate to make money everyday, failures are personal choices .nothing to do with spikes , indicator s,news ect

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Yeah, then u will hopefully learn about your own unique trading edge. Some people will give up, some will study technical analysis in much greater detail, some will try to unlearn everything they’ve learned ans say indicators are rubbish, some people will resort to higher mathematics.

It’s really diverse at this stage.


My journey to success is ongoing, however I am profitable now I’ve found out all about how I react to trading.

I have a strategy and a process that I stick to religiously. I have learnt to detach myself (ZEN) from the outcomes as there will always be wins and losses, even if some are consecutive.

Trading the higher TFs reduces the emotional pressure on how to manage running trades. Very few traders can last scalping the lower TF’s as it is constant emotional pressure.

I went immediately into profit by selecting trending trades using the daily and 4h entry, adding a 30 pip S/L and similar TP taking into account where the next support and resistance zone was. Then just closed my desktop and let them run overnight. Checked it out the following morning with a clear closure plan if any trades were still running.

My lesson was understanding ZEN detachment. If you can solve a problem then there is no need to worry. And if you can’t solve a problem then there is no need to worry.



You turned this into one of the better threads :blush:


thanks everyone for all the responses

“I went immediately into profit by selecting trending trades using the daily and 4h entry, adding a 30 pip S/L and similar TP taking into account where the next support and resistance zone was.”

this is where I fail I think - I can spot the trend but the concept of support and resistance zones is beyond me. Which currency pairs do you do this with.

I would love to be able to set a trade and be able to walk away instead of now constantly flicking onto the charts to see where the trades are at and more often than note taking profits way too early !!!

I review 12 major/minor currency pairs as my stable watchlist. This doesn’t include GBP/JPY, GBP/USD or EUR/USD as I find them not profitable with my style of trend trading.

Practice looking at the chart on whatever TF you use. Try and assess where the candle waves rise and fall, and use a 50EMA to buy only above the line and only sell below the line. That’s the simpliest. I think baby pips has a course on support and resistance zones. Once you get used to it, it’s simple.

And your last pragraph tells me this is your main weakness. You could aim to only look at your charts every hour on the hour, when many traders also follow. It also helps to think in percentages terms, never money.

As for winning trades you could move your S/L to breakeven, then take off a percentage profit and let the remainder run up to your selected T/P area, or use a trailing S/L instead.

As for me, I completely detached myself from following a trade. If you trust your strategy to deliver you don’t need to follow it.

Hope that helps.


Maybe try looking at the bigger timeframe too

Weekly , monthly maybe it will help you feel less " confused".

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thankyou very helpful

Bro, use your demo account as much as you can, analysis on your own trading mistakes (from your losing trade position)! It’s much better than reading trading eBooks!


Hi @steve369,

Can I ask the reason why you use EMA 50, not EMA 20 or 30? And you check the price above or below EMA 50 on which time frame?

Thank you

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I use EMA 50 on Daily down to 4hr TFs. My pro trader friend who is an American, says that the US traders have a 50% mindset when trading, and that’s where the order flow action is. You could also add a 20EMA with it if trading the 1hr or lower as a cross reversal signal - which is what some traders follow.

And there are pro traders who use the 20EMA on weekly and monthly charts, as it seems to be a price action magnet to come back to that line whether above or below.


Believe in your stategy. Don’t be to quick to diversify. Have a postitve mindset of being a successful even when you are not. Check out the advice and caveat of successful traders and see what you are doing wrong and lastly, have a strong emotional confidence; work on your emotions and ensure you are able to stand strong when some loses occur.


They learn it by doing it themselves in the market, making trials and errors as they go through the process. Trading is a skill that can only be developed with time. so do not lose hope. Keep studying and honing your skills; doing so will assist you in advancing to the next stage in your trading career.

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