By becoming consistent! Consistent is what decides success.
- DEVELOP THE RIGHT SKILLS.
- EDUCATE YOURSELF ABOUT FOREX.
- START SMALL
- START WITH A DEMO ACCOUNT.
- FIND A TRADING EXPERT.
- TRADE WITH A STRATEGY AND STICK TO IT.
- DO NOT BE AFRAID OF LOSSES.
Thank you
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Nice post. Thanks for sharing! Which one is your favorite point among these?
yep, I agree, 1st and the 4th point - are the most logical for me as well
To become successful in forex trading, money and years of experience is required.
-Money because trading little accounts will get you nowhere except losing your money on over-leveraged trades.
-Years of experience so that when you trade with enough money, you don’t lose it.
Yes, it is, but the biggest thing is to manage the risk. It is never possible to trade without it. It can never be traded emotionally.
These tips are really nice and they can really lead to the relative success in trading. The last thing is of utmost importance because the broker matters really much and it is significant to choose the proper broker which will not scam you and its fees will not take all of your profits.
These tips are really nice but I think that before choosing a trading strategy, one should have some fundamental knowledge and skills about the market. Unfortunately, it is not sufficient just to have a trading strategy because the markets change very quickly and unpredictably, that is why a trader should think outside the strategy that he uses in his trading.
These tips are great and following them a young trader can really achieve a lot.
However, I’d like to modify a little bit the third point about choosing a trading strategy. I guess that the word ‘choose’ may be quite misleading for the newbies here. They can just ask the questions like where to find the choice of different trading strategies and so on. More than that, it is always importan to test trading ideas on historical data because not all of the trading ideas can really work especially those which are offered for free to everyone. Trading strategy should be natural for a trader according to their risk profile and personality. What I mean by personality is the fact that I cannot even imagine myself sitting the whole day long before the computer and doing scalping. However, there are some people who can trade only in this manner and all of the newbies should bear in mind the fact that all of the people are different and the same trading strategy may be quite convenient for one person to use and it can turn into a torture for another person.
You need lots of knowledge and skills to become a successful trader and that could be only achieved by investing small chunks in the Real Market.
I can use any strategy but I have to gain pips keeping my psychology positive.
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Of course, psychology is one such subject. Which predominates over strategy. The market can often play games with you and you need to keep the psychology strong to make it profitable properly.
,I like 7 especially but I don’t only risk fixed amounts like 2 % ,I usually only have one trade open sometimes 2
Yes you make some original points ,good to see people like you on here instead of sheep and clicks or robotic personalities
Great Mindset, what do you use 7 especially? Say the details?
Keep trading, ween yourself off demo trading to at least a micro $1 account.
I believe that success comes after consistent hard wrok and learning.
For a Forex trader, mistakes are an inevitable part of the learning process if you already know how to learn from each one. If you keep repeating your mistakes over and over, then you’re not making progress, and probably big losses will follow. The first step to learn from your mistakes is to identify them. Once you identify the mistakes, you have to admit you alone are responsible for your trading mistakes and responsible for their outcomes. Whether you are a professional or beginner Forex trader, you will have your own mistakes to make. But being aware of your errors can help you become more efficient in forex trading.
Hello, how’s your trade going
Hi ,just saying I don’t bother having multiple trades open at the same time.Remembering when I first went live I had 3-4 open they was all losers.Having said that in certain circumstances I may keep a trade open for weeks.I tend these day s to look at the higher times frames first ,month’s,weeks days.im not desperate to have a trade open I might not trade all week or for weeks. patience I feel is the key to success.stating the obvious but seeing the charts on different timeframes give you different perspective , a chart might break a trend line but I might wait for it to break a significant daily 200 em or another possible indicator