Becoming a Forex Expert requires

Mar 02, 2021 at 11:37
2,332 Views
38 Replies
Member Since Jun 09, 2021   44 posts
Nov 03, 2021 at 05:01
To become an expert forex trader, all you need is a pile of books, plenty of forex trading websites on your bookmarks, and videos on your laptop. Staying updated on a daily basis regarding the forex market and economic news is the 'Mantra' to becoming an expert.
Member Since Apr 09, 2019   538 posts
Nov 03, 2021 at 10:16
Patience, discipline and thick skin. Also a decent work ethic. Too many think that there are shortcuts and easy ways to make money and there isn't in forex. While at it's core it can be very simple, learning and practice takes time and effort.
If you can't spot the liquidity then you are the liquidity.
Member Since Jul 19, 2020   751 posts
Nov 04, 2021 at 07:23
Patience, discipline and skills are needed for success in forex trading. Most people only focus on strategy. That's why they are not successful.
Member Since Jul 23, 2020   869 posts
Dec 05, 2021 at 20:12
Expert Forex traders need a lot of learning and experience. Also, in order to achieve the goal, it is necessary to have strong mental power with a high degree of dedication to survive and learn at all times.
Member Since Nov 23, 2021   34 posts
Dec 08, 2021 at 08:05
To reach the excellence of an expert, one needs to completely immerse in learning and practicing. It requires traders to remain abreast with the latest news and technology. A trader should be willing to continuously improve and expose himself to constant learning.
Member Since Feb 20, 2021   53 posts
Dec 13, 2021 at 03:56
Persistence. Trading demands time and continuous effort. You learn the most while trading. As a trader, you should continuously learn from your trades, whether you make money or not. Traders who ignore learning practically do gambling.
Member Since Mar 23, 2020   63 posts
Dec 13, 2021 at 07:46
Becoming expert takes lot of time, and determination. You will need to ensure that you have a huge library of knowledge that you can use for trading
Member Since Nov 26, 2018   10 posts
Dec 13, 2021 at 11:23
Experience teaches you more than any other platform in forex Trading. It takes you years and years just to be sure if you have made the right decision before making a trade.
With experience you learn how to be in better control of your emotions, patience is key. Once you know how to keep your emotions in check, when to take a break, when to trade, and when to hold back, you know you are getting better at trading.
Member Since May 18, 2020   9 posts
Dec 13, 2021 at 12:18
Becoming a Forex expert requires 2 things.
1. Education from a true expert
2. Practice
Member Since Aug 21, 2021   61 posts
Dec 13, 2021 at 12:20
According to me, it requires dedication and consistent hard work.
Member Since Jan 26, 2013   73 posts
Dec 13, 2021 at 15:44
You have to do a lot learning from your successes, but more importantly your mistakes and the mistakes of others so you won't repeat them. Above all, don't give up. You'll eventually find your trading style that will give you consistent profits long term which doesn't make you trade emotionally. It could take months, or even years to find it.
Integrity is the seed for achievement. It is the principle that never fails. - Earl Nightingale
Member Since May 31, 2021   48 posts
Dec 16, 2021 at 11:09
To be an expert one needs to be consistent in trading and have the deep knowledge of technical tools plus must interpret the major economic events for a clear understanding of effects of it on price movements.
Member Since Mar 13, 2021   6 posts
Dec 17, 2021 at 19:55
I am so tired of the fact that everyone wants to become an expert. I mean that I don't want to be an expert at trading, I just want to make decent consistent profits and nothing more. I don't know, probably it is my problem of treating the words more seriously than I should, but I have some negative experience in seeing 'experts' of trading. Such people can only boast their luxorous things which they rented before in order to persuade the viewers to join some broker or buy some services. I feel that we all should aspire to become good at trading or perfect if you want in order to create an investing fund where everyone would pay for your managing. Experise is something too vague to discuss precisely.
Member Since Mar 17, 2021   536 posts
Dec 19, 2021 at 19:35
croisssan posted:
It is worthwhile to immediately understand that becoming an expert quickly does not work out unambiguously.
To become expert in this market, You need proper practice and learn all the basic things properly.
Member Since Dec 14, 2021   28 posts
Dec 20, 2021 at 06:56
The ease of getting into forex trading has made almost everyone try out their hands in this business. However, to become an expert in it you need discipline, patience, a good method and most importantly emotional detachment. If you are strong enough, not physically of course but mentaly, then you can persist through all the upheavals of the market. You should be willing to learn from every mistake and take lessons from losses.
Member Since Dec 13, 2021   32 posts
Dec 22, 2021 at 05:36
The only way to become a Forex Expert is to learn about the markets and practice trading. You need to understand how the markets work and get a good grasp of trading basics. These things will take time and effort to learn, but it's well worth it in the end.
Member Since Jul 22, 2020   23 posts
Dec 22, 2021 at 16:43
I feel that only professional traders can call themselves forex experts. By professional I mean a person who earns their living with forex. You can have infinite amount of certificates or diplomas, but if you cannot earn anything in forex, all of your laurels cost nothing at all. I would believe the trader who can prove that they are successful on the market.
Member Since Feb 20, 2021   78 posts
Dec 30, 2021 at 04:02
To become a forex expert requires the proper mindset, trading skills, and self-discipline. Trading forex can be profitable if done correctly, but it can also be risky. To be successful in forex trading, you need to understand how the market works and what factors influence currency prices.
Member Since Jul 19, 2020   751 posts
Dec 30, 2021 at 04:29
I see maximum novice traders try to make money without learning! That’s the main reason of having the 95% statistic! Without knowledge, I mean trading knowledge- Forex is impossible!
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.