Tips to be a successful Forex trader.

[Underwit]

Some tips for traders-


1) Never stop working on your skills
2) Never trade without a plan
3) Have a risk management strategy
4) Learn from your mistakes
5) Focus on controlling your emotions.

 

[Gargoyle]

Traders who lose mostly are the ones, who didn’t spend enough time learning and understating the market. When you read about forex trading, the first few lessons may seem easy but they are not that easy to implement. You must take time to test your strategies before you take risks.

 

[Gallimaufry]

The best tip I’d give someone is to know when to leave and always revise their risk reward ratio.

 

[Akira Rush]

So you need to be able to do two things:
1. Read the markets
2. Protect your capital.
The most important thing when trading is staying calm, relaxed and focused. Always think about the long run, not the short term. Forex is not a race, it is a marathon.

 

[The trader]

every success in life depends on consistency , its the real challenge or difference between fighter and loser.

 

[Adolpho Sandoval]

To become a great trader, you must first study how a successful trader trades, controls his risk in trading and rebounds from losses. This will give you some insight into trading. Aside from that, you must continue to learn as much as can about trading.

 

[Pedological]

You may have a goal to achieve in the forex market. But will you stop trading after you achieve that goal? No, right? You will set another goal and try to achieve it. For this, you will have to keep working on your trading skills because these will help you stay on the right track.

 

[Tom Latham]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

 

[Davidfx89]

actually making profit is not a big deal in Forex trading , the main things in there to keep consistent level which is the main challenge . anyone can make profit by one or two times.

 

[JimmyChoo]

the new forex trader always try to bring good amount of profit with no learning . as a result they fall a great trouble when trading in practical.

 

[LouBega88]

Making portfolio with investment is a technique to survive in Forex. Your investment amount shouldn’t cross your capability. If a trader doesn’t have enough knowledge of trading, he shouldn’t invest big amount Maximum traders trade haphazardly without following any risk management. So, try to draw a roadmap.

 

[Increscent]

Honestly, trading is not an easy task to do. You may read a few tips, apply them, and then expect your trading moves to turn into profits. In reality, nothing such is going to happen. No tips and tactics work until and unless you are ready for the live market challenges which can be done only when you trade in the live market. So, apply all your knowledge and skills in the live market with small amounts to be ready for bigger challenges.

 

[Mecine]

There are no tips or tricks. You have to learn the forex trading concept in detail. Only your knowledge and skills will help you make profitable trades.

 

[Mawkish]

An efficient tip I would like to share is to - take a break when the market conditions do not match your trading strategy. To trade consistently does not mean you should trade even when the market movements are anomalous to the conditions based on which you have formed your trading strategy.

 

[FXOpen Trader]

An efficient tip I would like to share is to - take a break when the market conditions do not match your trading strategy. To trade consistently does not mean you should trade even when the market movements are anomalous to the conditions based on which you have formed your trading strategy.

To become a successful trader into this business we have to make more Efforts.

 

[Mojo]

I’d say that the very first thing is to learn about forex. Without knowing how the market functions and what forex is all about, one cannot learn to trade. We started learning alphabets, then we went from words to sentences to paragraphs to essays to books, and now we can write dozens and dozens and volumes of books. In a similar way, start learning small, then increase the effort, taking the necessary steps when needed. Learn each and everything from whatever sources you think are perfect for you. Learn!

Secondly, learn to control emotions. Emotions can have a great impact on forex trading, and if one can’t control one’s emotions, trading would become exceedingly difficult. Learn the skills like risk management, maths, numeral ability, chart interpretation, graph interpretation, etc. These will help you trade forex with ease.

Thirdly, practise on a demo account. Most people don’t realise the importance of a demo account, and they think that they can start trading directly on a real account, which is the biggest mistake they commit. Fourthly, there are no shortcuts. There is no one-size-fits-all strategy. So don’t keep hankering after trading strategies.
Last but not least, practise, learn and learn from mistakes.

 

[Distributive]

Experience and knowledge are the virtues for becoming a successful trader. Traders need to learn and practice trading in order to gain appropriate experience.

 

[Gito Dinev]

Not all time, long-term trading is possible because sometimes you have to trade scalping whenever the market opportunity is narrow. But, in all the cases, you should not be nervous about profit.

 

[Karley Walker]

Basic mistakes that traders usually make are over-trading revenge-trading, enhancing lot size, not caring about market situation, trading in highly volatile pairs and many more. We can learn from our mistakes.

 

[FXOpen Trader]

Succumbing to emotions when trading will lead you to make wrong decisions. To prevent this from happening, always take a few days off after a loss to recover.

We can learn from the losses we have made into the markets.