Please share how to be successful in forex-trading

[chu-wi]

<ask>: I follow a lot of promotional activities. Then I find out that forex-trading can make a person successful, and I most like to be successful in forex-trading even though I know it's risky but I was fully aware of the risk assessment before investing.

For that, I would like to ask my friends: is there any tips and tricks to be successful in forex-trading? Do you need some kind of training? If there is, please share me ....

 

[brokenblade]

The best way to be successful is to manage your emotions. You don't want to be so focused on gaining a huge amount of money in such a small amount of time. You definitely want to get some practice and try out the different strategies. You should also be careful when it comes to leverage. There is no one method that can bring you guaranteed success.

 

[Tirus]

Well, there is no one method that can guarantee you sucess. What is important is to make sure that you study and understand forex trading, take it easy and step by step. The more knowledge you have will help you to work on your trading strategy and how to handle yourself while trading.

 

[chintu]

I think the best way to success in forex trading is to acquire the good knowledge about how to trade and decision taking is very important so i think this are the key of success . and try to use the demo account before you trade with the real account and hope this will help you to be success in trading and earning good amount .

 

[kasual]

many people said that forex is business and to be success a trader should treat forex trading like a business. but for me, forex trading like researcher activity, you only need to found or develop good trading system that worked for you and the rest will be easy.

 

[Tirus]

many people said that forex is business and to be success a trader should treat forex trading like a business. but for me, forex trading like researcher activity, you only need to found or develop good trading system that worked for you and the rest will be easy.

A trial and error method will really apply here when you start working on your trading system because you will need to make the necessary adjustments based on the results that you are getting when testing. The best place to do this is of course in the demo account where you can thoroughly test the strategy without the risk of losing real money.

 

[riddick09]

Practice is the best way to make our way to be successful. But consider that it will consume our time and we need to be serious. So far, I haven't heard in the forum that they become successful still most of us are in the stage of learning and trying to make some profits. So we will have this hopes in trading.

 

[monyitomon]

Yes, there is really no method that can guarantee your success as a Forex trader you must not depend your success in some information that you can find on the internet because there are many of it, if only there is one thing that works then for sure there will be lots of successful traders.

 

[rexway]

I think how to be successful in forex trading is simply by trading with small lots ,that is money management ,follow the trend and stick to your plan dont be greed and overconfidence after this success will come by.

 

[anuj7]

The best way to be successful in the Foreign exchange market is the mixture of a excellent broker, excellent research, access to press marketplaces, viewing world activities, recognize what economic and governmental factors might impact certain foreign exchange and knowing effective management.

 

[raheel iqbal]

In my point of view forex trading is simply a business of trade and search of its way to trade. It is a simple and successful business for those who are doing it with care and open mind, and is very difficult and boring for those who are doing it for (more and more) money.

 

[oemata]

There are three pillars for a trader to be success. First, money management. A trader should be wise in managing his fund deposited in a broker for trading. Second, Psychology. He should have a good psychology. Third, Good strategy. Use and find your own strategy for trading.

 

[Raleigh Lee]

Yes, you need training - not only psychological training, but training on money management, probabilities, understanding systems, and a number of other things.

 

[Tirus]

Yes, you need training - not only psychological training, but training on money management, probabilities, understanding systems, and a number of other things.

Its a combination of things that make you a good trader. Yes, its not only psychological but you also need to learn different skills and techniques that will help you make informed trading decisions. If you can manage to address them then you will be a good trader.

 

[anuj7]

Major, you have to have sufficient knowledge on how the Currency trading industry functions. Knowledge is power and it's particularly true in industry. The more you inform yourself on the factors that cause foreign exchange to move, the more you are likely to make successful trading decisions,and trade under some intelligent companies as first check what features they are providing etc!!

 

[riddick09]

Yes, it we are going to have more knowledge or aware of the forex market then, it will be our advantage when we are trading or chance to make profits. Because the market also have big news coming that will totally have an effect in the market and traders usually waiting and preparing for it.

 

[indieover]

I think we should know what makes other expert trader succeed and reach their status and gain such good skills. And I think one of their secret is to learn how to control their emotions as emotions would definitely a hindrance first a very good and successful trading.

 

[riddick09]

Yes, we learn from these keys and experiences of traders to either adapt their strategy or their path of become successful or become our inspiration in trading to feel more motivated and to reach our goal easier without much of worrisome and boredom mind.

 

[zebrut]

then from that experience and a lot of flying hours in the forex trade using real account allows us to master the emotions and psychology, and in the end if we are able to master the emotions and psychology will be protected from failure always comes over. failures are common for beginners live how we deal with failure and willing to work hard and learn to prevent it happening again with the failure of controlling emotions and psychology.

 

[rexway]

That is true managing our emotion and cut down on how we take some of our risk ratio can always be a good source and ways to make it big in forex trading but first of all just make sure that you are able to do it through practice and understanding and this is what really important here.

- - - Updated - - -

That is true managing our emotion and cut down on how we take some of our risk ratio can always be a good source and ways to make it big in forex trading but first of all just make sure that you are able to do it through practice and understanding and this is what really important here.