Become a Successful Forex Trader.

[tamaprat]

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.

I agree with your statement that the discipline and consistent is capital that is needed in forex trading. I think it should be seriously remiss if we trained for a bit then we will make a fatal mistake. I still can not discipline in forex trading. but someday I would feel if I get the beauty benefits of diligent study in earnest.

[alihn]

if you want to become a successful trader must be you know the rules of trading , indicators , trends, techniques. always you should make plan to trade and analysis the market, the important things are to became a successful trader you should avoid remove , fear and emotion for best trader in forex business.

[rafi1990]

to become successful traders it is not so easy because success does not come automatically it needs hard toil.for via you must learn it then practise io demo account .do not be greedy .trade with patient neve be hopeless. Do not give ear to other talk.do not always run after money .

[isab]

it is true what you advised of great help to investors and beginners like me to become a effective investor starter investor applicants should thoroughly understand how the techniques and techniques for assessing the accurate and fast control of life and mindset of feelings is not quiet

[psamehdaw]

I see that to be a successfuly traders , they must have bigest capitals , the variety of techniques , mental strength , their good thoughts and have an effectives a stratergy tardes really !

[zahra]

Become a Successful Forex Trader

which must also be taken into account and should be cared for is someone, MENTAL and PATIENCE.
2 pre novice often forget this aspect and feel their system is enough to make them a profit

[Indofx]

and because they still have lack of knowledge and situation for about it, it is not problem for them because at the same time they will get the lesson, the best education that have to pay with their losing, and so they will realize for what they have done and try to fix them with make evaluate to get the solution for it
but it is good for them to use demo account to reduce the risk, to pay for nothing

forex success is so easy . Really you can earn huge From Forex market i am earn lots of money. first learn Forex first gain some experience and Practice on demo account then Start on real account. then you take profit in forex. If you want to make the forex trading easy you have to learn about forex trading very well and have patience for getting expected result .

[haney]

learn forex traders are usually for beginners often make the fatal mistake early with high confidence plunge into the real account without regard to good and bad market movement is erratic ... it is this which should be considered in order not to fall too far to be in forex market

and because they still have lack of knowledge and situation for about it, it is not problem for them because at the same time they will get the lesson, the best education that have to pay with their losing, and so they will realize for what they have done and try to fix them with make evaluate to get the solution for it
but it is good for them to use demo account to reduce the risk, to pay for nothing

[kakalot]

i think to become succesful forex trader to have no other way that you have to live with it, stick with it as part of life, never give it up.effort and time will be the answer to your success.never give it up when you can still continue to, in one way or the other way.

[Hansip]

Become a successful trader is not easy for every people.If your mentality will be hard working and achieving success from forex trading.once a time you will be success from forex trading.and must be learn hard to gek good of experience and understanding

hard working is the main key for success in forex trading business. so, all new forex traders must work hard for gain the knowledge and experience in forex trading business. because with the help of good knowledge of trading and good experience in forex trading business. we can earns lots of money