Become a Successful Forex Trader.

I don't think that you can build your career without any experience so its very important if you want be professional and make money. Become a successful trader you must learn and spend a long time by practice your skills in a demo account or real until you make a good experience.

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Originally Posted by rok

There are different human weaknesses that are obstacles to become a profitable Forex currency trader. To avoid these weaknesses first we must know them.

The main human weaknesses are:

1. Fear

By using leverage we can make a lot of money in Forex, but we can also lose a lot of money. The situation in the currency market can change very quickly. Almost everyone is afraid to lose money. The fear of losing money sometimes paralyzes inexperienced traders who miss good trades because of the fear.

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yes leverage like two sided blade to us...we must take in account in the loss possibilty so money management needed here...never try big leverage if trader did now how to use lot wisely...that will make bigger loss for trader...

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Originally Posted by Jatal

I don't think that you can build your career without any experience so its very important if you want be professional and make money. Become a successful trader you must learn and spend a long time by practice your skills in a demo account or real until you make a good experience.

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yes true, I'm sure every trader who has a very good ability, they certainly have a long experience in the forex business. since it's the experience that will make us know how this forex business. since it's every experience will make the more we know. therefore it will continue improving our capacity in this forex trading. the more we learned a lot from the experience, it will make us closer to success.

yes bro i agreed with y9ou and we can be a successful trader butt for this we should must be got the knowledge about this and we can be a good trader after all and the main thing we have need here to do practice more and more for the experience and thew main thing if we will understand the market then it will be easy to got success in this

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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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Greetings my
I agree with your post, especially needed are consistent in the trade, as well as discipline is the initial capital to trade, but it all comes back to the beliefs of each trade

becoming a successful trader requires a lot of patience, hard word and discipline. success in the forex market come with a good trading plan, good money management and experience gathered over an extensive period of time.

There are different human weaknesses that are obstacles to become a profitable Forex currency trader

When you want to success in the forex trading then it is necessary to set your strategy and must run according to them, well known about forex trading, to knows about the trends of market , uses of signals and indicators then you are successful trader in forex trading..

Certainly to be a successfuly traders , they must have bigest capitals , the variety of techniques , mentals strength , their good thoughts and haves an effectives stratergies tardes !!!

Bohot mushkil hay is maket main aik trader kay liye successful hona aur aap ko bohot mehnat aur struggle ki zarorat hay, main to kahoon ga aap tab tak kamyaab naheen ho sakty jab tak aap low risks aur low profits par believe naheen karty.