Become a Successful Forex Trader.

[Nabi Ahmed Gill]

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.

forex trading boht achi or best successful data ha or ya es forum sa ap jatina chayiao profit gain kar sakta hoo lakin es k layia ap ko boht sri manhnat karni para ge or zada sa zada experience gain karna or best sa best stragegy banan us ka bad he really accunt par tradign start kar dana ap ko boht sara profit hoa ga.

[maurya]

Success in Forex needs consistency , patience and deep knowledge and understanding of market. In the start if a trader is losing then it starts hating Forex because he was relying only on one technique and do not know the other factors of loss. But if hi try to understand his mistake and again jump in to the market and trade consistently then one day he will make profit consistently.

[Ramnit]

It is not easy to become a successful trader and it takes years of hard work , knowledge and experience to become successful and moreover a trader must have skills and abilities that are required to become successful and a profitable trading strategy to support you.

i think one way to be come a successful trader is to always try new thing but in a demo account anyways . when we try new things we are able to know what works and what doesnot and thus we are able to make a good trading system to use

[bhai]

It is not easy to become a successful trader and it takes years of hard work , knowledge and experience to become successful and moreover a trader must have skills and abilities that are required to become successful and a profitable trading strategy to support you.

[toptrader43]

Without method its like a warrior or perhaps trooper within a war without any weapons. If he gets just about any battle with no just about any weapon consequently exactly how he can fight because fight.

[Ramnit]

I think if we would like to become a successful forex trader -so we shall have to be learn about trading .
without minimum trading learn or trading knowledge nobody can successful in this trading market .it is very essential for every forex traders .

Getting success in forex is not so easy and we have to keep patience and learning always so that we should get the knowledge of tradings by opening the trades well about the market when there is some oppertunity otherwise we should not open the trade.

[ken arok]

when you are earning well in your business, it is like you are in cloud nine and every thing seems to be fun. but when you are losing you feel like a dark cloud is hanging over your head following you around every where you go. and when we trade in forex, we don't do it out of fun. we just do it just to earn money not because we will have fun doing it or not.

[nitishdeb87]

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.

thanks for your wonderful thread and you want to success in the forex trading then it is necessary to set your strategy and i strongly agree, especially on items that mention of consistency than your forex trading will become more profit.

[scorpian7]

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

Yes that is right but forex is not a science rather it is an art and it is not for every body . Every body can't master it . This business requires a suitable personality that is why not every body is a good trader after spending all their lives . So try to observe the personality of successful traders and try to adopt it . that is my view of getting success in trading.

[Ford]

Apart from commitment and patience i think we also should we more dynamic, moving with market trends inorder to make profit. A good will capitalise on small opportunity to turn it into a better profit. Consistency pays