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Steps to become a professional forex trader

kieran (snapdragon1970)
Nov 20 2016 at 18:58
1945 příspěvků
lee42747 posted:
rob559 posted:
you need to be an excellent trader before thinking of becoming pro,95 % of trader fail.so you nedd to learn how to not fail again ,you need to be resilient and very smart...need at lest 2 or 3 years of failing ,winning falling again....before getting it,don;t beleive those who say otherwise


So your point is to show consistent performance? I agree with the ability of recovering from a loss as mistakes can always happen. For me a true pro has a steady upward performance curve.

When you see bigger winners than losers on your account balance your on the right track.

"They mistook leverage with genius".
LLewis
Nov 28 2016 at 16:02
35 příspěvků
snapdragon1970 posted:
When you see bigger winners than losers on your account balance your on the right track.


Yes, and the next big step is to retain this performance! 😄

Once a trader, always a trader!
kieran (snapdragon1970)
Nov 28 2016 at 16:24
1945 příspěvků
LLewis posted:
snapdragon1970 posted:
When you see bigger winners than losers on your account balance your on the right track.


Yes, and the next big step is to retain this performance! 😄

As long as you are realistic about how much you can make on each trade , how much is the price moving , how much is it pulling back each time , where is your stop and entry etc.

"They mistook leverage with genius".
Raj (RPatell)
Nov 29 2016 at 08:16
64 příspěvků
I think having academic background in finance or mathematics could be also useful for becoming a professional trader. Working at financial institutions or companies can give the professional perspective to things. It should give an insider view 😄

Nina (NEEnah)
Nov 29 2016 at 15:26
71 příspěvků
RPatell posted:
I think having academic background in finance or mathematics could be also useful for becoming a professional trader.


I think what you say here is more relevant for those who program the algorithms for trading by the big companies. When learning by doing the individual traders can be also very successful.

VickyJones
Nov 30 2016 at 15:43
45 příspěvků
snapdragon1970 posted:
As long as you are realistic about how much you can make on each trade , how much is the price moving , how much is it pulling back each time , where is your stop and entry etc.


I agree. To be able to know and be confident about these details in trading is already a good condition for consistent performance on a pro level.

jhonix
Feb 27 2017 at 23:00
37 příspěvků
I believe that in the financial market there is no single formula to operate successfully. The financial market is like an ocean and the merchants are surfers. The surfer must have balance, patience, talent and equipment. Must have deep concentration when surfing. It would be stupid if you were to sail when there were dangerously deadly tides. In the same way no trader invests in the exchange market while there is risk. A successful Forex trader follows some basic rules to avoid scams and risks in the market finances.

nivkyy
Feb 28 2017 at 08:05
10 příspěvků
@jhonix This you comment is contradictory, the surfer loves the good waves, decides to take the risk of going for them and launches. In trade you must invest smartly, but you must know how to take risks, trade is volatile, we can not be static traders.

TrueForexWay (4EX4LIVE)
Feb 28 2017 at 08:18
4 příspěvků
- true STP, NDD
- own system/strategy - KISS
- RRR 1/2 at least
- TF 15,30,60 / depends on capital, bigger TF = better for you, small TF = getting tired = inattention = losses /
- free capital at least 50k
- plenty of time, best is if you need not work
- combine manual/ automated trading. Automated = robot search your pattern across the markets and ... Manual = you trade it after you got ALERT
- start to trade with minilots for couple of months and then keep max 1% risk of account
- funny is that you do not need to be much educated - better is to create realy KISS system and improve it to achive above mentioned
So this is my Holly Grail to become an professioal trader - I did it this way
Who is able to achive above mentioned rules?? My estimation is max 5-8% of traders ....so good luck!😀

Eino (icepower72)
Jul 04 2017 at 14:54
13 příspěvků
jhonix posted:
I believe that in the financial market there is no single formula to operate successfully. The financial market is like an ocean and the merchants are surfers. The surfer must have balance, patience, talent and equipment. Must have deep concentration when surfing. It would be stupid if you were to sail when there were dangerously deadly tides. In the same way no trader invests in the exchange market while there is risk. A successful Forex trader follows some basic rules to avoid scams and risks in the market finances.

What should be the basic rules to avoid scams and risks in trading on the financial market in order to become at list decent trader or even professional?

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