To be a successful trader

To be a successful trader, it does not take much of pains. All what you need to do is acquire full knowledge about the economic surroundings. You should think logically about how the news would affect a particular security. A successful trader should know how to control the emotions because the emotion driven decision sometimes creates havoc.To be a successful and efficient trader, you need to start trading by opening demo account as it will help you in testing your strategies. Once you get enough confidence then start with real money.

Starting with small amount like 100$ to 500$ is the good practice. One should not investment big amount unless he makes his small amount 3 times with a systematic approach.

Strategy is important in trading. Every trader is different from another. So, making own stray with own preference is good for long run.

If you want to trade successfully, you have to trade by maintaining discipline and plan. If you can't maintain discipline and plan, you will never be able to trade successfully.

To be a successful trader first of all you need to learn and develop a good trading strategy, also while trading control your emotions, understand that losses and profits are a part of trading only.

UweMoench posted:
Starting with small amount like 100$ to 500$ is the good practice. One should not investment big amount unless he makes his small amount 3 times with a systematic approach.

I also agree with the approach. Demo account is the best place for practice.

When you go live, start small. This won’t only save you from losing money but will also prepare you for your future trades as you will get to know what you should expect from the live market.

what you think guys there is any difference between successful and professional traders ? its all about same issue or any major difference ?

First learn the basic. Then try demo account. Demo account is free. So, practice as much as you want.

knowledge and experience needed i agree with you , but it can be valueless if you dont have regular practice  , so besides acquiring good knowledge its more appropriate to emphasis on practice session. 

It is possible to make money from Forex but you need proper knowledge and trading education.

Yes, knowledge is the key to walking down the path of success. A profitable trader will have the right knowledge about the market.

There is no alternative to learning to become successful trader. It really needs good analytical ability and psychological ability to stay clam.

Imamul posted:
what you think guys there is any difference between successful and professional traders ? its all about same issue or any major difference ?

If you are not professional you can not get success. Professional does not mean taking trading as a profession. It means having necessary skills and mind set for forex trading.

IvarHardy posted:
First learn the basic. Then try demo account. Demo account is free. So, practice as much as you want.

True. It is the best way to learn to trade safely. New traders should use it first.

Successful traders always think logically. You have to practice trading with patience. We have to go ahead in trading by controlling emotions, maintaining money management.

the successful trader is a trader which always able to predict the real faction of this market with certainly . its all about real professionalism.

To the above, I would also add that successful 3 can always easily overcome these losses and mistakes, and quickly switch and start all over again.

consistancy is key