Become a Successful Forex Trader.

[saifth1391]

To become a successful trader in Forex is need lot of hard work. Before starting the real trade a trader must learn about the Forex trade and also apply his learning in demo which makes him experienced. A trader also try to keep his emotion control in the time of trade. He also need to update with recent Forex trading news. If a trader can do these things he will be a success trader in Forex.

[ariffx12]

To become a successful trader is no a hard things. If we work in forex with fresh mind it is not an impossible mater to become a winner trader for you.

[king]

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.

There are many ways to become successful in anything you do and mostly the trading , and Learning to deal with the loss it is the key. When your trades are going to be bad. You�re going to experience them and there really is nothing you can do. but you just need to take a good analyse ,and good strat�gie , and the routine daily.

[Andi7]

Everyone has the potential to learn to trade Forex quickly, learning a method that can make money easily and if you adopt a disciplined attitude, your ready to enjoy a three-digit income in about 30 minutes per day.

Goood Luck and Have a Nice Day

agree, indeed every person has its pros and cons of each in creating income on trading forex. learn more about the market for me is the easy bother, may differ with them, yet so human, they have the advantages given their each

[eddy]

become a successful trader the first thing you do is in the minds of traders must be set to learn a new science whose function is to master the science of forex, open a demo account with the understanding of any price movement so that traders will be more familiar and skilled in analyzing the trend that occurred

[jimloveski]

There is a long way to become successful trader- expecially in forex market. Some people say that it is a waste of time and money but I think it is not. Trader just has to work hard , never give up, try to learn as many things as he can and wait till he gets some experience. It might take a few years but it is worth it because it is a huge making money machine.

[shero]

In order to become a successful trader you must first learn the concept of the market and follow the political and economic news and know how to analyze the news affecting the market and follows up every day price movements will go where

[darren]

I can not tell you that I am a good trader but at least I can earn some money per month and I can enjoy forex must only make a good trading strategy is all

[fxsilo]

there are many process to gain success in forex,we have to acquire proper knowledge about forex and have to experience,we have to control emotion in forex business which can help us to make money

yes there are many process so we need patient because there is no shortcut way if we want to success in forex business. i think not also in forex trading but in other business too.

[hmbelal]

the fatal mistake early with high confidence plunge into the real account withou tegard to good and bad market movement is erratic it is this which should be condierd