Become a Successful Forex Trader.

successful trader banane ki liye humain proper knowledge and skills ki zarurat hoti hai. without knowledge hum forex trading main successful nahi ho sakte. start main demo account pe trade karni chahye or us pe practice karni chahye. phir real account pe trading karni chahye or start main small investment se trading start karni chaye. or agar sath hum hard working karen gay to aram se successful ho jaye ge.

sir in my knowledge to become a good trader is not so easy yes possible but need big trading experience.and trading experience will come from your trading success or profits that you gain here.

Hey everyone wanna do the trading like a professional trader, however, the point is what does a professional behave in forex trading? How could we know that? We can't go to any professional trader and watch him trading always. We could only learn, practice and develop our own way to trade, I guess majority of the traders don't know how professionals trade, am I right?

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Originally Posted by pphashif

Most people’s experience in the Forex Market is relatively short and in no way profitable. They hear about the currency market and think it is an easy way to make a lot of money in a very short space of time. Now, I am not saying this can’t be done, because for some this is true, but for the majority it’s certainly not the case. Let me explain in more detail … In the early stages of most FX trader’s careers, the first forex trading decisions generally come from tips and recommendations from brokers, alert services, forum threads or sometimes even mutual novice trading friends. Then, at some point, traders decide to study the market and attempt to find the perfect system or method to trade with. I am sure you can relate to the following statement; for many traders, the Forex market and it’s nuances truly become an obsession that takes up countless hours of searching on the internet and books, forums and DVD’s , in the hope to find the holy grail Forex trading system, which they eventually find out, simply does not exist. Traders develop or buy a system and start trading way to soon. Sometimes it is profitable, but when it has a few losing trades (which is normal), they change the system, read a new trading book, etc. or go back to looking for tips and advice, back to the forums, back to Google, searching for more information. After some time, and after more losses and frustration, most give up and stop trading altogether. Or, they go on the analyzing merry-go-round, keep paper trading and never get any financial success from their trading; this is the case for 90% of newbie and intermediate traders. A few realize that the trading method they are using is not the actual problem and the most important ingredient in their trading is actually themselves. In addition, they soon realize that a sound set of trading rules is essential to trading profitably. But if the rules are not followed, they are of no value, and an average trader will have difficulty making a profit with a good trading system. Ironically, a good trader who has skill and a good mind can make a profit with even an average system. Put simply, even with a perfect system, the human mind can stop it from making money! Statistics from surveys of US traders indicate that once a trading methodology is developed by a Forex trader, then 80% of the effort in trading is actually trading skills (that includes things like Forex trading psychology and Forex money management). When the trading system is developed and trading skills are learned, a person starts finally trading properly. Most traders encounter a setback at some stage; either the market conditions change or they don’t follow their rules. However, if good money management is followed, this is not a serious problem. Often, even after winning for several months, after a small set back, many great traders stop trading to evaluate what has happened. This is often a mistake, and is again, the ever-present emotional element which plays in the back of our minds every day we trade. It’s a mistake to interfere with the consistent day to day trading routine, even in the face of losses, the trader has to press on and believe in what they are doing. Here some common traps that traders fall into, this is where the real decision about the trader’s future is made: 1. They stop trading all together 2. They find a new system, read a new book, and do another course. This can go on forever and successful trading will never happen. Or 3. They evaluate what really happened. Mostly it will be that market conditions had changed or they didn’t follow their rules. The the forex traders who go on to achieve greatness: (a) Monitor the markets and start trading again but trade small amounts and don’t force trades, they then resume trading normally once they get back on track. (b) Wait for market conditions that suit their trading style. This is an important process to go through. Most traders go through this experience 2 or 3 times before they develop the skills to achieve their trading objectives. Trading success is a result of consistency, discipline and patience and most importantly self belief… When you have a forex trading plan that involves clean price action strategies, and that is built on practical workable parameters and it suits your personal and financial requirements, and you stick to it, then your Forex trading will become more enjoyable and more profitable. :):):):yahoo:

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Hello Everyone, If you want to be a successful trader, its so simple if you can follow these three aspects: Find/Create a battle tested winning strategy(be it intraday,scalping, swing trade...etc whatever your choice), learn and implement risk management, control your emotions in trading - meaning be a discipline trader in following your trading rule all the time. If you can follow these 3 all the time, I am sure that you can be a very successful trader in the future. Thanks.

I think that I just need to find the holy grail ... or something like this that can give you the advantage of constant. I used different materials or methods to it. but it doesn't really work. Forex is something you can easily master. You have to work very hard and learn the most about this market. Only then you can become a successful trader in your life.

There is no one who could become successful traders in short time because successful is not result but it's journey
so don't hope to become successful traders instantly. I think I must do a lot of practices and I must prepare good
money management to realize that.

become a successfull forex trader is not as that someone have to learning more and more develop of trading strategy that he can understand well,tested it on demo account to have confidence over the strategy

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Originally Posted by abdulahi

become a successfull forex trader is not as that someone have to learning more and more develop of trading strategy that he can understand well,tested it on demo account to have confidence over the strategy

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successful traders are those who are able to trade and also provide full capability, which is if the trader cannot meet such power may be business as long as they are doing is completely useless and worthless.

I agree with your opinion that if we want to run a business then we should have a careful planning and if we have jumped on it, then we also need to be diligent to learn and develop our capacity to learn is by our senior traders.

To become a good or successfull trader we should mantain some rooles .
We should must have good analisis capability.
We should always on cool mind.