How to become a successful Forex Trader

[mynameisandhy]

To become a successful Forex trader takes time, education and knowledge, but the news is anyone can do it. You do not need to be a genius to be a Professional Forex Trader. You only need to invest time to learn and practice.

Many people who disagree with my opinion above, because they are the people who have succeeded in the area (work area) and they saw another Forex Trading only as a mere financial game. Let us learn from successful traders, how the properties of (trading) them so that we can learn from their success.

1. Look forex trading as the same as other business professions. He takes effort and time to trade well.

2. They acknowledge the existence of financial risk in forex trading. They know that they can profit and also lose money in forex trading. They use smart money management skills.

3. They educate themselves first and build knowledge together with any profession, considering all it takes work processes. They respect and obey all the rules previously established by previous successful merchant.

4. They have patience and understand that it takes to succeed. They do not see it as a get rich quick scheme. They invested a small amount first and build profits slowly.

5. They know the importance of having mentors like any other profession. They understand their own shortcomings as a beginner and always seek knowledge from experienced traders.

6. They live with a proven trading strategy and trading only one currency. They do not jump from one strategy to another. They did not try a lot of currency trading at one time.

7. They set aside enough capital that they could and lost. With the money they could loss, but they do not feel the pressure while the trade. They just follow their trading plan and carry out their trade according to plan.

8. They recorded their trade. They reviewed the current profit, also reviewed when the losing trades and understand their mistakes and how they can improve their trading results.

The figures are that 95% of forex traders loss because they failed to plan and will not use the characteristics above. Make sure that you get education and knowledge level is sufficient.

You have to learn, be happy!

[ikofxindo]

good advice master
hope soon we will be kind trader like that