Successful trading

Kamrul12063 posted:
Successful Forex trader doesn't exist 😲

Generating a consistent, low risk ROI of $100,000.00 or more per year from trading Forex is successful isn't it?

If an investor has $400,000.00 US in a well diversified portfolio and it generates an aggregate flat ROI of 25% annually, that works out to $100,000.00 US per year.

Even in expensive cities like New York or Tokyo a person can live a very comfortable lifestyle on $100,000.00 US per year.

If a person budgets their money correctly, and they don't really have any unmet financial needs as per their level of income, then I would most certainly say they are successful. If a person can't live on approximately $8000.00 US per month income, then it isn't a problem with Forex, but rather it's a problem with the person who lacks reasonable financial planning.

To state that successful Forex traders don't exist is absurd.

success can be an easy task , if you have enough capital and you know how to manage money. that's all

MBFr_Group posted:

Humans consistently under perform because they have emotional interference. Algo trading formalizes your strategy upfront and sets clear boundaries on your risk exposure

Agreed, but don’t you think that’s highly techno dependent. One short glitch and the entire strategy is ruined.

peter_fx posted:

MBFr_Group posted:

Humans consistently under perform because they have emotional interference. Algo trading formalizes your strategy upfront and sets clear boundaries on your risk exposure

Agreed, but don’t you think that’s highly techno dependent. One short glitch and the entire strategy is ruined.

Technical Analysis alone isn't enough.
Fundamentals are equally important.

The most important rule is Risk Management.

If the investment assets aren't protected above everything else, then there is a greater chance of blowing the account with massive losses.

 

I find fundamentals are very difficult to understand and use for trading. Do you know of any books that teach how to use fundamentals to help with Forex trades. Everything I have read doesn't really apply fundamentals to specific trades

flashoutline posted:
I find fundamentals are very difficult to understand and use for trading. Do you know of any books that teach how to use fundamentals to help with Forex trades. Everything I have read doesn't really apply fundamentals to specific trades

Don’t expect proper instructions from your broker; they only provide basic level of guideline!

Most sucess people do achieve with something like for example stocks, lately I am completely dissapointed with FX market and want to try usual stocks, as for me it's much stable thing anyway for many possible reasons out there - I do not see that.

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

I agree with you

If you want to do successful trading in the forex market, you have to get all the knowledge and process of the market. On the other hand, you need to make a profitable plan to make money from this market.

actually there is no one who can guarantee you at any percentage about anything in forex trading. so its more appropriate to forget certain issue in there.

besides making profit there is only losses and fear. so we the traders have to make sure how to faces losses and control emotions. actually emotions is the foremost enemy in our life only not Forex trading all about life attitudes.

Imamul posted:
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’s true. Trader should always analysis tier broker before choosing. See if this broker is good for your strategy or not.

Successful traders always plan according to the plan. Due to which they are protected from many unexpected moves. If you want to trade successfully, you have to learn trading first. If you don't learn and trade, you will never succeed. Money management and risk rewards must be followed in trading. And you have to be patient all the time.

Successful trading is the combination of so many things. You need a good strategy with good risk reward ratio. You also need discipline and ability to control your mind. You also should have a good risk management strategy to be successful.

success always complicated issue at any sector even
 Forex trading but it can be achievable of course by means of real patience, otherwise there is no real chance.

Successful trading is not just about a good strategy. You have to understand the market emotions. Risk management and mind control is the key. It takes years to be discipline in trading. We also need patience to be successful.

If you want to be successful in trading, you must follow the plan. It is very important to maintain the discipline to profit consistently. If a trader does not follow risk rewards and money management, he will never be a successful trader. The risk-reward formula must be applied to cover the loss in trading. And you have to keep a long time target and trade with patience.

UweMoench posted:
Successful trading is not just about a good strategy. You have to understand the market emotions. Risk management and mind control is the key. It takes years to be discipline in trading. We also need patience to be successful.

All those factors that you mentioned are on point. These are really essential to be a winner in forex. Just to add, I think proper research is also very important.

Still important is the fact that these rules should not only be known, but also be able to apply.