How To Become a Successful Forex Trader

I have discovered that the best way to kill emotions when trading is to trade with funds you can afford to lose.

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Frankly, even in that case I am pretty emotional.

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you’re really straight forward to the reality and its true thanks for the comment…

Correct! Controlling emotions takes time but yes with dedication everything is possible.

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Emotions need to be controlled for successful trading. Emotions prevent successful trading. If a trader can control his emotions, he will be able to achieve success from trading very quickly. Emotion control, as well as risk maintenance, is very important. It is difficult to sustain the investment if the risk is not maintained.

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What a load of duck tripe. Does one not need passion to succeed. Should one not feel satisfaction on a well managed trade. Do you not need confidence to place a trade in the first place. The concept of emotions prevent success when it comes to speculating (or any other aspect of life) is a lie spread by brokers and marketers to help traders accept bad decisions. One should embrace emotions when it come to the markets and use then to your own advantage.

Stop spreading a lie.

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A complete guide. This instruction will help the new trader.Thank you

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It helps no-one and should not be peddled

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@therealInsideBar

Are you saying markets are not driven on fear and greed?

Or that there is no such thing as cognitive biases, and that we are all actually rational economic human beings?

Or that fight or flight is a lot of crap?

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Yes I am. The markets are driven because companies have to pay the foreign workforce, business trade internationally, money has to be re-patriated. Struth, I need to import new vaping equipment. Any preaching that the market is driven by speculation is false.

Markets are not driven by fear or greed but the simple fact people need to exchange currency. We are betting on the outcome not the race.

But the act of speculation leads to price discovery. So the market needs us speculators to act as price drivers. More noise exist in these forums that that in the market. One just has to know what to filter out. What is being preached here needs to be filtered and plays not part for us arm-chair speculators.

Place your bets please.

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@therealInsideBar

So the tulip mania, south sea bubble, mississippi scheme, 1929 crash, japan in the 80’s, nasdaq in 2000, housing in 2007, bitcoin in 2017, were not infact bubbles at all?

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You forgot some bro (Swiss Franc). Not to worry. You bet on greed, I’ll bet with my eyes.

TheRealInsideBar, keeping it real champ, keeping it real. Not peddling wares.

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@therealInsideBar

Yes I did forget the swissy - I assume you mean when they broke the peg?

I wouldn’t have called that a bubble - there weren’t many taxi drivers or shoe shine boys talking about it

I did forget gold in 1980.

It’s fascinating learning of your view of the market, I respect that view just don’t agree.

From my understanding you view the markets as efficient - where it’s not possible to make money.

I believe at times that is true but other times it isn’t

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I preach we are just observers my friend. As individuals there is simply no way we can match the power (being intellect, resources, personal etc) of the market. We have to accept it for what it is and in the simplest terms ie the need to exchange money. We will never know why or comprehend the shear size of the market. We don’t need to. As observer’s we can see the results of the market actions in price and therefor make educated decisions on which way the market will “trend”

There is no hidden secret to speculation, one just needs the ability to observe. Then the confidence to act on those observation

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@therealInsideBar

I agree with those sentiments 100%

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With discipline. If you trade as per your trading plan and completely objectively, you will find success sooner than later.

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You have covered all the points and made it so easy to understand for newbies. Out of all the points that you listed above I found 1st and the 4th point very logical

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Emotional trading is the first thing that needs to be controlled to become a successful trader and ofcourse NO OVERTRADING. Great work, thank you for sharing this. Really helpful

When we are doing our trading we will have Emotions and we need to make sure that we can have a control over them so that we can trade with some success.

Only risk you can afford to lose.