Tips To Being A Successful Trader

Don’t be greedy and be patient.

Spends at least 5 months in a demo account before moving into a real account.

Unellene posted:
the main thing is to gain experience from each mistake and understand what needs to be corrected in your work, then there will be progress

Exactly, practice on demo, learn from your mistakes and do not repeat that mistakes.

Sarjohn posted:

Unellene posted:
the main thing is to gain experience from each mistake and understand what needs to be corrected in your work, then there will be progress

Exactly, practice on demo, learn from your mistakes and do not repeat that mistakes.

Practicing is very important. It helps a trader to improve the skills and ability.

It’s completely okay to make mistakes in the market because that’s what teaches you the most important trading lessons. Risk a small amount if you are not sure about the market or your strategy. And when you get an idea of what is happening, you can gradually increase the amount.

SteveHanks posted:

Sarjohn posted:

Unellene posted:
the main thing is to gain experience from each mistake and understand what needs to be corrected in your work, then there will be progress

Exactly, practice on demo, learn from your mistakes and do not repeat that mistakes.

Practicing is very important. It helps a trader to improve the skills and ability.

Yes after having good knowledge and skills you can make good profit.

Along with good knowledge and skills we also need a sound mindset. It's the trading psychology that makes the difference between successful and failure.

To be a successful trader, you have to give time in learning and developing skills. You need to how to read charts when to take entry and how control your mind.

Akasuki posted:
Along with good knowledge and skills we also need a sound mindset. It's the trading psychology that makes the difference between successful and failure.

Rightly said, i have seen people who possess good knowledge and everything but they are not able to control their emotions which make their trading worse.

One tip or a suggestion i can give is never be greedy and take one step at a time.

Skills and experience is very important for forex trading. Without being skilled it's not possible to survive in the market.

RobSchiz posted:

Nathan_Han001 posted:
One tip or a suggestion i can give is never be greedy and take one step at a time.

Greed is the most dangerous thing in this market.

I agree with you. It destroys a trader's career within a second.

Trading psychology is one of the most important things to master in order to be a successful forex trader. Making the right decision under pressure is something that cannot be taught, you can only learn it.

There is a big amount of tips actually and it may take lots of time to describe all the tips. I can describe only several ones, which are the main in my opinion. The first tip of successful trading is never rushing. You know, sometimes traders go mad about huge amounts of money and it's strictly prohibited in trading activity as I think, because the brain always should be cold. You shouldn't let your emotions get you down and never let them take control over your mind. In my opinion, it's the most spread mistake. Of course, you can make some mistakes but try to avoid major ones.

Hard work and continuous practice willmake a trader successful .He will become experienced in trading day . In forex we can nt get success in days Here need a lot of timeit means patience is also important for success.

On point 1 I will say that understand early that you can take ideas from others but you can't take out the box ready made plans. You have to do the work to find what is right for YOU.

My main tip would be to find an expert and either follow their trades or learn from them. It is too hard to do this on your own without an expert

Simply put, to be a successful trader, I need to work with psychology as well as a good profitable strategy.

You have properly summarized all that a trader should do. I know that we all have different journeys and we can pave our own paths. But keeping all this in mind can help us stay away from unnecessary risks.