What are the requisites to become successful in trading?

[makjon]

Everyone wants success in FXtrading. But most of them fails, The main reason they lack the qualities to become successful. So what friends lets discuss this here

opinion from newbi is if we want to become a succses trader we must always learn all about rule on trading,.analys and also fundamental,..

don't be greedy,..and also always consistent on trading

[mayengbam]

yes knowledge is power. it is the requirement to succeed in any field in this modern age. but having the knowledge and not applying it properly will be a misuse of it and bring failure. so a good experience in applying the knowledge for our own benefit is vital to succeed. so knowledge with good experience is required to succeed in forex

[Jazpa]

Everyone wants success in FXtrading. But most of them fails, The main reason they lack the qualities to become successful. So what friends lets discuss this here

I would say perfect forex knowledge is the most important requisites to become successful in forex trade. Without any knowledge or just small knowledge will not help us to deal with complicated situations in forex. If we aim to win in forex then definitely we have to understand its every step. So we need good and healthy forex knowledge.

[BojanHajdinjak]

hmmm. I think "winner menthality (eye of the tiger)" and "never to give up menthality" are
two most important things. We can see that people with the same trading tools, trading indicators and
the same knowledge, making very different results on forex.

[mayengbam]

For me the requisites for becoming a successful trader are high class forex education and experience. Without a very good knowledge we can never trade in a better way and without experience knowledge is not so useful.

i agree with your view, there is no replacement for quality knowledge and experience to succeed in this field. we have been discussing in length on this matter. and this two factors has come out as the most important necessity throughout the discussion.

[nsawork]

For becoming a successful trader we need:

1. Knowledge about the Forex markets

2. Time to study the markets

3. Proper planning of the trades

4. Well balanced strategy

5. Using both Stop Loss and Take profits

6. Going with the market Fundamentals

7. Implement any strategy in Demo before trying in the Real accounts

8. Maintain Focus on 2 or 3 currency pairs at one time.

[venkiaries61]

What are the requisites to become successful in trading?

Everyone wants success in FXtrading. But most of them fails, The main reason they lack the qualities to become successful. So what friends lets discuss this here

I also think the same. Because, the main lack is to don't able to control his emotions during trading. And also lack in creating strategy area. We should be talent in Forex. And also had lot of practice trades in platform.

[mallappa]

1st of all we need good quality knowledge of trading system, knowledge of all commodities and stocks,currency and world economical knowledge and knowledge fundamental and advanced technical analysis nesossry

[loserbynature]

For me the requisites for becoming a successful trader are high class forex education and experience. Without a very good knowledge we can never trade in a better way and without experience knowledge is not so useful.

[jalu]

As we all know that there is no such thing as perfection in this world same is the case with Forex trading. As we are human beings we may make mistakes and its not sure that you earn profit every time you trade you may even face loss. Proper trading determination is necessary so that you do not give up to trade even if you face loss. Having proper practice in demo account before trading in real account might be helpful to avoid loss. And moreover no one becomes good trader overnight it takes time so don't lose hope.