Qualities like the following make a professional trader: Patience - Waiting for the right moment to enter or exit a trade Emotion control - Controlling anger, fear and other emotions while making decisions Knowledge - Being up to date with the latest available information and news Practice - Trying every piece of knowledge in demo trading
There are some forex signals that can be profitable for you, there are some that are at least 70% accurate, you should know the test and understand if the signals are worth your trust before you take them. So it's better to use the signals on a demo account first or to learn from a professional
Protecting capital and keeping dd down is more important than the monthly percentage. I want to clarify an important thing for everyone: investors should be aware of the risks of the currency market and the high volatility that occurs daily. Our advice to everyone: invest only money that you can afford to lose
Patience – is one of the essential qualities that a successful trader must either have or learn over time. It is the lack of patience that forces us to rush into wasteful trades that often lead to unnecessary losses. The fact that there are always plenty of opportunities in the market worth waiting for is being realized by myself always :)
Zawiri posted: A number of times i've seen comments on this site alluding that professional traders dont make their statements public; some talk on no solicitation for funds on such forums; some on the need for one to have more than 100 trades and so forth. But what would make one be considered to be Professional coz at some point many aspire to be! Share you thoughts here.
Consistency makes someone a professional trader. A trader must be consistent and able to handle the pressure of market. This market is never perfect. It is a game of probability. Thus, a trader is bound to make losing trades. He has to know how to deal with those losses as well.
As long as you can make consistent profit in forex trading, you are already professional, but professional I think they not only work in one investment type, they will diversify the portfolio to balancing strategy investment, there is a portion for forex investment, there is a portion for investment in bonds, mutual funds or treasury, crypto, etc.
The forex market is not something one can just jump into without good knowledge about how it works. While sometimes one can gamble on it and become rich, one can also gamble and go bankrupt. Getting rich through forex trading requires a total understanding of the market.
A professional trader is a person who works in finance and engaged in investing as a business or in a full-time role rather than occasionally or as a hobby. Swing trader: A professional trader who works positions over multiple days, hoping to turn a profit from long-term market fluctuations. So, if you want to become a professional trader you have to understand that this type of job require plenty of responsibilities and willings to continue trading. Lots of trader give up after the couple of losses. That's the main mistake of them. They have to be durable and endure all the market prepared for them.
There are two types of traders in forex world, one is professional trader and another is part time trader. To be a professional trader, you have to invest your full time in trading. On the other hand, part time traders don’t invest their full time in trading and they have other earning sources beside Forex trading.
Learning and building inner trading-friendly qualities make a person professional. Until trading qualities grow in a trader, he or she cannot be a professional trader. So, it takes time to grow but it grows overtime if there are attempts for this.
Trading experience and human quality makes a trader professional. The trading style of a professional trader is different from that of another ordinary trader. That’s because he can develop his own trading strategy over time where many others are failure.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.