Become a Successful Forex Trader.

[sayem]

Become a successful trader you need to proper learn first. without proper learn you can not found success. successful traders must have perfect knowledge and experiences. this two is number one reason to success in Forex i think.

[topmaster]

bhai successful banna aasan nahi hai uske liye bohot kuch khona bhi pad jata hai successful trader bane ke liye trading ki har cheej ki knowledge hona bohot jaruri hai acha experience hona bohot jaruri hai.

[kibara]

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.

The most important thing to be a successful trader is to be disciplined and able to manage our funds to good use. It could be our capital to be successful in trading. and we also have to understand the fundamental trade.

[fxsilo]

to become a succesful trader we must know in details about forex. Most of the people enters in forex market without gathering proper knowedge thereby he lose in business and lose the interest to invest further more

when people trade without some knowledge it mean we doing gambling in forex and certainly loss will come.
very difficult to learn forex trading because there is no university or collage teaching about forex science. we can learn by own and mentor, so we must seriously do this business.

[anamul20]

have gone through all the warnings and precautions about unrealistic expectations, reckless and risky practices, and compulsive trading, and what not, and you are still interested in forex? You're not intimidated by sensible, realistic, and honest discourse about what can and cannot be achieved by a currency trader. Nor are you a dweller of cloud-cuckoo-land: you don't seem to expect great returns for no effort.

[kalponick]

Even everybody wants the same thing then that thing becomes hard to get.. In this world everybody wants to earn money.. and for this every trader wants to be successful in his trading.. this is why it becomes the hardest job in this planet.. Dont ever try to find any short-cut because there is none..

[liyonala1988]

If you want to be a successful Forex trader then need to have better knowledge regarding Forex strategies and money management. Also need a concentrate on it with a patience.

[eraesh]

thank you so much for your instructive posts. i really appreciate it. i really love to come to this forum to learn and i always find some useful posts like this.

[BDforex]

There is no shortcut way to success in forex trading. It takes a quit long time. If anybody want to be a successful trader then he should must be try to gather knowledge and experience, find out a good strategy, using good money management, control his emotion and greed. These are the major things to key of success in forex trading.

[lilorusdi]

every body wants a success in this business because we see money is quickly running and flowing infront of our eyes but it is not necessary that we can be successful so increasing the analysis of the market will increase the rate of success.

in fact many, if not all of it is not easily explained, but if it is the most important steps that have been tested and can produce consistent profit