Why are some traders successful?

Scalping, which is considered a royal type of trading, is the easiest form of trading and traders rely on this type mostly in both good and bad conditions of the market.

Good analytical ability is needed for better market prediction. Oil your efficiency through practicing on demo account.

there is anyone who already became successful from this trading place as a part timer ?

It's possible if you are doing only trading.
Most people are trading during their work... you have to be full available for markets and graphics

Trades are successful for multiple reasons, but I think the most important one is to leave emotions aside and do rational analysis of everything you test

Successful traders always trade with proper analysis and as per the daily market condition. They never over-trade to make profits. Patience and discipline are what they work upon the most.

It is the weapon of trading. Alongside so, try to trade with micro accounts with low leverage and spread on pairs. So, trade in forex based on the risk management policy because it keeps a trader safe and secure.

Traders don’t expect to lose from the market but they need to due to the lack of proper trading knowledge.

Marcolis posted:
Traders don’t expect to lose from the market but they need to due to the lack of proper trading knowledge.

To become successful in trading, it requires a lot of smart work and a deep understanding of the forex market. Some traders lose because they have a greedy mindset, which leads to wrong moves in the market.

That’s because not everyone can stay consistent and work hard. They are either too greedy or fear too much. Successful traders have discipline and knowledge. They always trade with the right approach and believe in treating forex like a business.

True. Some traders are successful in forex trading because they have mastered their psychology. This is the key to success. The right psychology helps you to become successful and accept the losses.

I think some traders are successful because they are disciplined and never give up on learning.

Those traders are successful in forex who understand the meaning of 'Success' in forex trading. Successful traders have a clear understanding about forex markets and they have realistic profit targets or goals in long run along with a well tested trading strategy for last 5 to 10 years.

Those traders who have unrealistic goals, they might chase behind success for their life time without success where as successful traders can't loose even if they try to loose money in forex since they are well trained to be successful based on their past trading experience. That can be the scale to measure a successful trader.

Basic principles and understanding about forex market and expectations:
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
1.Forex trading is not a full time or part time job and so a trader can't expect a fixed salary or fixed income every month. Forex is a risky business and hence, you may or may not get profit every month irrespective of whatever kind of trading strategy you use scalping, day trading, swing trading etc. The trader always need to consider a trading period of 6 to 12 months to consider his trading performance of his strategy in LIVE trading.

2.There are no holy grail trading systems or plug and play systems which a trader can get and become successful for ever. Trading involves continuous learning while keeping his basic understanding about forex market and his strategy intact.

leo23 posted:
Those traders are successful in forex who understand the meaning of 'Success' in forex trading. Successful traders have a clear understanding about forex markets and they have realistic profit targets or goals in long run along with a well tested trading strategy for last 5 to 10 years.

Those traders who have unrealistic goals, they might chase behind success for their life time without success where as successful traders can't loose even if they try to loose money in forex since they are well trained to be successful based on their past trading experience. That can be the scale to measure a successful trader.

Basic principles and understanding about forex market and expectations:
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
1.Forex trading is not a full time or part time job and so a trader can't expect a fixed salary or fixed income every month. Forex is a risky business and hence, you may or may not get profit every month irrespective of whatever kind of trading strategy you use scalping, day trading, swing trading etc. The trader always need to consider a trading period of 6 to 12 months to consider his trading performance of his strategy in LIVE trading.

2.There are no holy grail trading systems or plug and play systems which a trader can get and become successful for ever. Trading involves continuous learning while keeping his basic understanding about forex market and his strategy intact.

Good Stuff! Informative

To become a successful trader, you must put in a lot of effort to learn the trading skills. Many traders have some natural traits to get started, while others have to work for them.

Josse078 posted:
To become a successful trader, you must put in a lot of effort to learn the trading skills. Many traders have some natural traits to get started, while others have to work for them.

But, on the other hand consistency, practice, determination, and knowledge also matter.

For me the revolution took place a year ago. When I understood why the price moves. This way of thinking the price, eliminates many possibilities of the next move and it increases the probability of being in the direction of a future big move. Obviously, these are only probabilities. The losing trade remains omnipresent.

I think all traders want to become successful traders, however not all traders can do it and sometimes get failure too, if you get mentor and guide to success, it is possible to make shorter time to success, but learn standalone usually will time consuming

Here are some things successful traders follow and failures did not.
1) Make a trading strategy.
2) Take frequent pauses.
3) Do not quit your day job.
4) Recognize that you will lose.
5) Put in as much practice time as you can in a demo. Constant practice is required.
6) Place a stop loss at least 30 to 20 pips below the entry point.
 8) Place a take profit at least 60 to 40 pips above the entrance point.
7) Test Your Trading Strategy in the Past