Key for a Successful Trading

ashouq

Active Trader
Feb 21, 2017
167
14
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We never knew when even a good broker turned into scam and stop paying its traders so better go with a reputed broker and withdraw profits regularly in order to be on the safe side.
 

SweetPrincess

Trader
May 9, 2017
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It is important to gain knowledge in the Forex trading business before starting trading with it. You will need a broker to help you with regards to trading. They will help you in familiarizing with the platform that you will be using with the entire business. You must seek for a reputable broker that will always be there to guide you all through out your trading career.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
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ECN and STP both are useful, traders need to select their trading platform based on their personal choice! By the way, in Forex knowledge is the key point of success! Besides, long-experience always helps trader to avoid similar mistakes!
 
Jan 27, 2018
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black-obsidian.org
I wonder nowadays on what should really be important to become successful in trading. Would knowledge be enough to succeed when you want to personally work with it? or, would it be more successful to find someone to work as a broker? Does finding an ECN forex broker be more advantage?

One must have will to learn about forex. Then need to practice as long as possible & most importantly practice with "Money management". No matter which strategy has been used one must have a proper money management otherwise it will be a failure.
 

TomGrants

Newbie
Jan 30, 2018
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Hi, i'm tom (new). I am pretty new in this world but I am really convinced that successful trading skills mean a lot about one. It is the future...
 

GonzaloRos

Trader
Jan 31, 2018
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One must have will to learn about forex. Then need to practice as long as possible & most importantly practice with "Money management". No matter which strategy has been used one must have a proper money management otherwise it will be a failure.

You're so right, Arif. This is such a general statement, but a true one. It also illustrates well how wide of a field forex trading in and how much effort it takes to know it, let alone master it.
 

JohnyIve

Trader
Feb 11, 2018
63
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ECN profitable for all traders, both newbies and experienced ones because their transactions transferred to the interbank
 

Lesiro

Trader
Mar 4, 2018
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Your question looks little confusing to me. If you find a broker who makes money for you, would you call it your success or his? And when you say “key for a successful trading”, is finding a good broker key to successful trading? To be a successful trader, YOU have to enter the market, not just entrust a broker to trade on your behalf.
 
Mar 31, 2018
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www.profitwithpips.com
I use an ECN broker and have nothing but good experience with them the only complaint i have is sometime the broker platform wil freeze for 2-3 secs which is more than enough time for a trade to go against you but it honest doesn't happen that often....But anything education is vital. I would not even begin to trade unless I was formally or self educated about the Forex markets and have practiced for at least 6 months to 1 yr.
 

BipsMore

Trader
Mar 6, 2018
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That's a good list, ansdrewbob, I 'd add purposefullness and insistence. Things happen and you can lose deposit. In this case you shouldn't give up and must have a sense of purpose.
 
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Rayford Adam

Trader
Apr 27, 2018
20
14
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That's a good list, ansdrewbob, I 'd add purposefullness and insistence. Things happen and you can lose deposit. In this case you shouldn't give up and must have a sense of purpose.

Hi BipsMore

I think Andrewbob miss some steps so here I am sharing:
  1. Always Use a Trading Plan
  2. Treat Trading Like a Business
  3. Protect Your Trading Capital
  4. Risk Only What You Can Afford to Lose
  5. Develop a Trading Methodology Based on Facts
  6. Always Use a Stop Loss
  7. Know When to Stop Trading
  8. Learn everything
  9. Learn to love the process
  10. Don’t give up
 
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Reactions: andrewbob

PolinaPolly

Trader
May 3, 2018
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You see, trading is a complicated process with a lot of shades and peculiarities. That’s why trader should have a complex of skills to succeed. Of course, knowledge is important, but not enough. Knowledge, experience, emotional stability, trustworthy broker, suitable strategy – trader needs all of it (and even more)!
 

bitley$123

Newbie
Jul 12, 2018
4
0
1
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You see, trading is a complicated process with a lot of shades and peculiarities. That’s why trader should have a complex of skills to succeed. Of course, knowledge is important, but not enough. Knowledge, experience, emotional stability, trustworthy broker, suitable strategy – trader needs all of it (and even more)!
I completely agree with you to be successful in trading, knowledge, emotional stability, a reliable broker, good trading system and LUCK all these play vital role.
 

AnnaFX123

Trader
Jul 13, 2018
15
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The key to a successful forex trading career is a combination of multiple factors like knowledge, skills, patience, dedication, curiosity, prudence, passion, learning from your mistakes and rising from your failures, knowing how to strike a balance between your forex life and regular life, discipline and an amazing broker. And if lady luck is shining nice and bright over you, then there’s nothing quite like that! J
 

Miller.d43

Trader
Jul 24, 2018
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Sound knowledge of forex world, a good trading strategy, proper money management, discipline and patience a good broker and luck are the keys for successful trading.