Become a Successful Forex Trader.

[venkiaries61]

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

But what, this learning process should take at least 2-5 years and also to get 3 digit income. Forex is no so easy, so earning from Forex is no so quick too. If we you want to become a successful trader, then you first invest your time in learning to get some experience. Let us discuss.

[muhammadatif]

Ager aap successful forex trader banna chahty hain to aap ko chahiy pehly aap demo trading account per achi tarha practice Karin or apni trading skill ko buildup Karin jab aap ko full confidence ho jay keh aap real trading kar sakty hain then aap real trading account hasil Karin.

[kulonikilaregunung]

i agree with you my friend that if you have some good money then you can trade well other wise it is difficult to trade with small amount because there are many times when you want to get the good profit but you account balance will not permit you.

I only have a small trading capital. I will use compounding strategy. I give priority to manage the risk. I learned on this forum, and download some ebook, then I was practicing on a demo account. I think discipline is the key to successful forex trading, so we have to discipline the rule

[irzan]

recently the Forex has become popular because anyone in the world can easily become a trader, but to succeed in this market you must have an amount of money you can lose and also a strategy, as you know normally most of the trader loses their money.
to become a good trader you must have a good personality and take good decisions

[realfun07]

To become a successful trader it takes a lot of time and efforts for a trader and also a lot of discipline and patience.A trader should be positive , confident and disciplined and should work hard to achieve success in these markets.

[cumil]

every body wants a success in this business because we see money is quickly running and flowing infront of our eyes but it is not necessary that we can be successful so increasing the analysis of the market will increase the rate of success.

some of the capabilities that we must have to be successful in this business, that are:

- we must Have and can be control of capital and risk management be accurately

- Ability to manage emotions so that a trader far from being greedy, avaricious, fearful, or hesitant

- Good habits: make trading plan that's right, not speculative also not spontaneity.

- Do not forget: patience and discipline.

[prem]

to become a successful trader you should follow these points 1.first do analysis in your favorite currency pairs 2.develop strategic plans 3.develop money management and risk management plans 4.careful in entering lot sizes 5.don't wait long time for getting huge profit 6.use take profit and stop loss for each orders.

[abcforex]

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.

[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.