Forex trading is one of the most challenging profession; so there is no way to take this business casually! More than 90% traders are the losers here!
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This is solid advice; there have tons of useful trading eBooks; yeah reading book is boring but you’ll learn the very straightforward things on Forex trading!
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I agree. I take it seriously!
Things a trader must have and tips;
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You should have a system. A trading system is a set of rules that you follow to make decisions about when to buy and sell. There are many different types of trading systems, and you need to find one that fits your personality and goals.
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You need to have a plan. A trading plan outlines your goals, risk tolerance, and strategies. It should be specific and realistic, and it should be reviewed and updated regularly.
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You should be disciplined. Trading is emotionally challenging, and you need to be able to stick to your system and plan even when things are going against you.
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To be honest, forex trading is just like any business that requires hard work and discipline. Trading can be difficult if you do not devote enough time to educating and preparing yourself for the risky live market conditions. It takes a lot of practice to master trading, and then you have to work on risk management to avoid losing what you worked so hard to earn.
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I agree. Trading, unless and until taken as a serious business, you won’t be making profit. Like a business, you need to make a proper strategy, paper trade that strategy, technically, fundamentally and sentimentally analyse the market, apply risk management, need leverage, follow a proper time frame, and stick to your plan no matter what! That is the ‘right’ way to run a business, and to run forex trading as well.
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