Key for a Successful Trading

Discussion in 'General Forex Discussion' started by Sweet Diane, Feb 11, 2017.

  1. ashouq

    ashouq Active Trader

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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.
     
  2. SweetPrincess

    SweetPrincess Trader

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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.
     
  3. Ary Barroso

    Ary Barroso Active Trader

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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!
     
  4. ashouq

    ashouq Active Trader

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    ECN/STP/NDD + Reputed and Regulated Brokers should always be given some thoughts in my opinion.
     
  5. JamesForex123

    JamesForex123 Trader

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    I use JAFX for both Crypto and Forex Trading.
     
  6. Arif Chowdhury

    Arif Chowdhury Trader

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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.
     
  7. Mariana

    Mariana Trader

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    Knowledge and luck are the key to success=)
     
  8. TomGrants

    TomGrants Newbie

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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...
     
  9. JamesForex123

    JamesForex123 Trader

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    Learning to trade is an incredible skillset to have, but it is not easy to do.
     
  10. GonzaloRos

    GonzaloRos Newbie

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    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.
     
  11. JohnyIve

    JohnyIve Trader

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    ECN profitable for all traders, both newbies and experienced ones because their transactions transferred to the interbank
     
  12. Lesiro

    Lesiro Trader

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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.
     
  13. profitwithpips

    profitwithpips Trader

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    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.
     
  14. BipsMore

    BipsMore Trader

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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.
     
    Rayford Adam likes this.
  15. Rayford Adam

    Rayford Adam Trader

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    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
     
    andrewbob likes this.
  16. PolinaPolly

    PolinaPolly Trader

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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)!
     
  17. bitley$123

    bitley$123 Newbie

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    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.
     
  18. AnnaFX123

    AnnaFX123 Newbie

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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
     
  19. Miller.d43

    Miller.d43 Newbie

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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.
     
  20. epicresearch

    epicresearch Trader

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    Help of advisory who have Research Analysts and Mentors sufficient technical & fundamental experience in trading filed is important for successful trading.
     

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