Successful trading

Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

That is very true. I think that a the most important thing is knowledge and experience. Broker just needs to be good enough to provide reliable price data and good spreads

Well said; knowledge is the key! There is no way without trading knowledge; even basic knowledge is not enough here! Traders need advance trading knowledge & skill for sure.

Where is the best place for advanced knowledge? babypips is good for the basics but where can you get the real advanced stuff that makes a difference

There's also the psychological aspect of trading. You can't be a successful trader if your head game is not right

In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme

Imamul posted:
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme

If anything there are TOO many resources for new traders. It is difficult to know where to start , what is good and what is bad. A lot of time can be wasted learning bad system or following bad traders.

Mindset is the key for successful trading, without the right mindset there is no future for someone in forex.

True

AlHashim posted:

Imamul posted:
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme

If anything there are TOO many resources for new traders. It is difficult to know where to start , what is good and what is bad. A lot of time can be wasted learning bad system or following bad traders.

yes this is so true, i am trying to learn but knowing where to start is really difficult.

Just master one thing at a time and then move on to the next otherwise you will mash your head

Just take time to dedicate yourself, you will never learn everything in a week. Risk management is number one, then learning a single technique at a time will help to master it.

Teejy88 posted:
Just take time to dedicate yourself, you will never learn everything in a week. Risk management is number one, then learning a single technique at a time will help to master it.

Agreed

Treeny posted:
Just master one thing at a time and then move on to the next otherwise you will mash your head

Create trading plan
Stick to it.
If it works keep it
If it does not work go back to create trading plan.

How long would you stick with a trading plan before you decide that it does now work?

LeBuffon posted:
How long would you stick with a trading plan before you decide that it does now work?

For me, if I can make profits within a year and after that I got stop out, I can say that my trading plan is work.
I will make sure that my profits is bigger than my invested capital.

But, it may different with others. Some traders may feel that, their trading plan is work if they don't get any stop out.

LeBuffon posted:
How long would you stick with a trading plan before you decide that it does now work?

It depends on strategy. Usually after 100 trades.

Nasrul_Swing posted:

LeBuffon posted:
How long would you stick with a trading plan before you decide that it does now work?

For me, if I can make profits within a year and after that I got stop out, I can say that my trading plan is work.
I will make sure that my profits is bigger than my invested capital.

But, it may different with others. Some traders may feel that, their trading plan is work if they don't get any stop out.

Basically, expecting 100% success ratio is illogical. There is no trader who can makes 100% profit ratio. It doesn’t exist.

for success Only good trading knowledge cannot brings profit regularly. Besides trading knowledge you have to focus on money and risk management which is the key to success in Forex trading.