What it takes to become a successful forex trader?

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
13
32
Canada
Successful traders have acquired certain skills and habits that they have finely adapted and tuned to their interactions with the*unique environment of the market. Why do some forex traders succeed and others fail, what sets the winners apart from the losers?
 

praise

Banned
Apr 7, 2014
57
0
0
Becoming a forex trader requires:
1. Ability to control emotions- some forex traders make alot of profit because they have the ability to control their emotions even when they are losing while some traders make a lot of loses because they lack the ability to control their emotions when trading.
2. Impatience- when wise forex traders can analysis the market and wait for the appropriate time to execute their trade, the lazy once will say it does not matter whether the market is good or not they would want to execute their trade and when the market go against them, the make great loses.
 

Pionex

Trader
May 5, 2014
19
0
12
You need to follow some instruction to become a successful trader. Remember that the first key is not to make too much greed. Also you should not wish to earn a lot in a short time.
Follow following steps:
-Learn forex via tutorials.
-Read articles
-Create demo account and active in some forum
-Analysis indicators from your own
Do not make forex trading by borrowing money with this thinking that you will make profit all time. You will see that many expert traders make loss.
 

Exness Support

Active Trader
Apr 21, 2014
572
0
32
I would say Patience and perseverance. Skills can be acquired quickly but patience and perseverance is one virtue you need to develop gradually to become successful. Always remember goal is to be successful for long term not short term.
 

kaito kid

Banned
Jun 29, 2013
36
0
0
Discipline in Forex trading is very necessary in order to get success because most of the successful traders show great discipline in their trading and I also in favor of following discipline in trading.
 

shl2412

Banned
May 22, 2014
15
0
0
Pakistan
Successful traders have acquired certain skills and habits that they have finely adapted and tuned to their interactions with the*unique environment of the market. Why do some forex traders succeed and others fail, what sets the winners apart from the losers?
In my opinion a newbie should learning first and then practice more and more on demo account about six month , practice makes a perfect man,without learning forex trading cannot give you profit ,if you keep learning then you can become a good profitable trader.
 

rrayne20009

Trader
Sep 13, 2013
57
2
17
In my opinion a newbie should learning first and then practice more and more on demo account about six month , practice makes a perfect man,without learning forex trading cannot give you profit ,if you keep learning then you can become a good profitable trader.

It take quite some time to master FX very well. It is very broad. You need to study and practice with a live account say micro account and avoid demo account cos there is no emotion involve.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
I agree. One should have a strong held discipline because it is a control of our selves while trading.
LOL, I know, the catch is that no trader starts off with this "discipline", it is more of something that you pick up as you trade..
 

PolinaPolly

Trader
May 3, 2018
38
0
12
27
There are a lot winning approaches to a successful trading and no ideal one. For me the key is hard work and patience in the widest sense.
 

Ary Barroso

Active Trader
Jul 9, 2017
858
53
39
31
First of all trading knowledge & then the experience; these 2 are the main pillar here; no one can make huge money here instantly after joining here, it takes time to learn Forex;