All you need is: 1+2 Trading and money management strategues with a total of positive expectancy. 3.Self dicipline.
Sound simple, but trust me, that is it.
Sound simple, but trust me, that is it.
How To Be Successful In Forex
- Thread starter ForexRouteOne
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- beginner forex learn forex learning
If trader can sticks with money management and risk management, maybe forex will get easiness to success in this business, but in fact not all trader have same emotion during trading, profesional trader they can manage their mental better than reckless trader, success is something that many people seeking but not people get it.
Forex trading is about how to manage money in uncertainty market condition, here required good skill to analyze the market but also as tarder need balanced about profit and reward ratio, although forex as speculative investment, but isn't mean only relying with lucky, this required good learning and high dedication to survive.
There are a few things to accurate if you want to successful forex trader:
1. Approach- Assign a time frame which is best for the movement in the market and don't neglect long term profits while making short term profits.
2. Attitude- Dont be greedy to earn more. Be Desciplined with your targets and Stop losses
3. Manage- manage your risks and executions of trades on timely manner.
And a big note- Small losses plays a key role and don't wait for big losses.
1. Approach- Assign a time frame which is best for the movement in the market and don't neglect long term profits while making short term profits.
2. Attitude- Dont be greedy to earn more. Be Desciplined with your targets and Stop losses
3. Manage- manage your risks and executions of trades on timely manner.
And a big note- Small losses plays a key role and don't wait for big losses.
Sucess trader they can making regular profit although sometime loss still occured, but they hve small drawdown in their trades which they have more winning trades and able increasing their equity with quality transaction, and to get it required good learning about the market behaviour and don't being greedy because sometime trend market move unpreicatble.
Yea Mr. Ravi, I like your approach.
Indeed we need to keep these things in mind instead of wondering without any aim or direction.
Along with this, I will also say that selling in PANIC is a wrong way to trade. If you trade using technicals or fundamentals, follow them instead of following the herd mentality.
Thanks
Might only little percent trader they can success in forex and able trading for living, and success also required high dedication and also enjoy in business and never blaming the market or own selves, which as trader will always learn how to minimzie the risk and making proper timing trading to catch profit in best time opportunity.
I am a newbie too and I wonder where to start? Cause I have studied this field for 4 months and I still find it hard to catch the market trend.
Tip 1: Preset your goals and then choose a style of trading which you feel comfortable with and make sure that it suits your personality.
Tip 2: Choose a methodology and be consistent in its appliance.
Tip 3: Choose a wide frame for trend and direction analysis and short frame to entry or exit points.
Tip 4: Carefully pick your account type and leverage ratio accordance with your needs
Tip 5: Perform a weekend analysis.
Tip 6: Focus on your trades and learn to ignore or embrace minor losses.
Tip 7: Automate your trading as much as you can.
Tip 8: Study the fundamentals and technical factors leading to price action
Tip 9: Manage your money efficiently.
Tip 10: Most importantly, don’t give up!
Tip 2: Choose a methodology and be consistent in its appliance.
Tip 3: Choose a wide frame for trend and direction analysis and short frame to entry or exit points.
Tip 4: Carefully pick your account type and leverage ratio accordance with your needs
Tip 5: Perform a weekend analysis.
Tip 6: Focus on your trades and learn to ignore or embrace minor losses.
Tip 7: Automate your trading as much as you can.
Tip 8: Study the fundamentals and technical factors leading to price action
Tip 9: Manage your money efficiently.
Tip 10: Most importantly, don’t give up!
Here in my opinion is simple how to become successful trader, as trader they need to learn well how to making accurate analysis because as trader will work with the trend market, so identifying trend market with high accuracy will determine succeed in trading
every trader they have dream to become successful trader, but here not all trader they can making money with forex business, and to become successful trader also need good learning how to analyze trend market with higher accurate, success opened for everyone and only each trader that will determine their succeed
Yes, learn and take action, tis is good and this is also sign if they have good mental and strong mental, after passed practice in demo account and then can take action in real acount maybe you will get faiiure a first time but this is process in learning and need sacrifice to success
The first step to that always has been learning and hard works.We have to study completely the forex industry. The whole trading skills and strategy always comes from learning, especially from successful traders who have made the journey before us.
Yes required learning and hardwork to achieved succeed, success will never come instantly without making effort and struggle, and success in trading is if any trader already able generate profit consistently or they have small drawdown in their trades and graph result always arise day by day
Many traders do not keep trading as a full time job.I prefer part time trading as a beginner due to the high risk.I believe only experienced people must make it as a full job.
