Become a Successful Forex Trader.

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Every trader should always test the trading ability from time to time. This part is very important in the process of becoming a professional trader. However your perception of trading plan and trading journal, it is definitely both important and is an indispensable tool for trading especially if you are newbie and have. not much experience Of course, this is hard work that will lead us to good ability. because that's the only way I think to be successful in the forex business. Actually I think in any business, to achieve our success will surely go through a long process, and that we can get through hard work and strong motivation to not give in to obstacles in achieving success.

For someone to be a successful Forex Trading. Get the best trading environment regardless of your account size or your trading experience. Learn forex trading with the best forex brokers! Start trading forex with low investment. True success in forex business is built on discipline and consistent results in the field of trade and must have a stage that can lead to success forever nothing is instant

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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

They can evaluate what really happened. Mostly it will be that market conditions had changed or they didn’t follow their rules.

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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Each merchant ought to dependably test the exchanging capacity every once in a while. This part is essential during the time spent turning into an expert dealer. However your impression of exchanging plan and exchanging diary, it is certainly both critical and is a key device for exchanging particularly on the off chance that you are amateur and have. very little experience obviously, this is diligent work that will lead us to great capacity. since that is the main way I think to be fruitful in the Forex business. In reality I think in any business, to make our progress will most likely experience a long procedure, and that we can traverse diligent work and solid inspiration to not surrender to obstructions in making progress.

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Any type of business especially a currency trading business requires a better understanding of what it is and where they invest. Instead of emotional control it needs a logical handling to trade. Most of the poeple here is driven by emotion and loss of investment. So forex trading becomes night mare for them. However, it is learning and practicing that is the only way we can improve and improve our knowledge in this forex business. so there will be no success without learning and practicing it. We as a forex trader if you want success, have to go through the process of learning and practicing long enough. Because in the forex business is much to learn, so it takes quite a long time and also the seriousness of the learning process.

We become a succesful forex trader if we should follow these five ways ..
1.control emotions. 2.self-confidence. 3.knowledge 4.Experience 5.skills

The key to successful Forex trading is to specialize in the currency pairs that trade when you're available for trading, and to use strategies that don't require constant portfolio monitoring. An automated trading platform may be the best way to accomplish this, especially for new traders or those with limited experience. (Check out some common mistakes that often trip up Forex traders in Top Reasons Forex Traders Fail.)