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Thread: The essence of becoming a successful trader

  1. #1
    Trader techboy's Avatar
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    The essence of becoming a successful trader

    I dont know if this thread belongs here or not but I just want to give some opinion in as far fellow members posting some strategies in this thread. I just want to say that success in one's trading does not just rely on a particular strategy, one important aspect to it is the trader himself because he is the one will implement such strategy during trading and if he fails to follow such strategy at certain point of his trading it can really alter the results of his trading. So even if you have a very good strategy at hand but you fail to follow the rule with discipline and consistency you will still fail. Good strategy and the discipline in implementing it all the time will make you a successful trader, not just the other half.

    Now in as far as the definition of what is a good strategy is, that is also debatable because other traders may have other idea about it. But for me a good trading strategy is something that has well defined rule of entry and rule of exit at any market condition, plus it adheres to good risk reward ratio(at least 1:1, the higher the better), proper risk management. And remember this even if market can be very volatile at times but it cannot harm our account in any way if we wont allow it. Happy and profitable trading to all!

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  2. #61
    Trader YoyO_o's Avatar
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    analyze the market correctly important for trader without analyze the market and working in market blindly not give us profit and trader loss the money in market and forex need smart peoples and active mind peoples and trader always make good decision in trading and understand the movement of market for getting good profit

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  3. #62
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    Quote Originally Posted by davido View Post
    We do not need to confuse ourselves by using several strategy in our trading, just one strategy is enough to make good money, and one important thing when we are trading with a strategy is to follow the rules of the strategy that's the only way the strategy will work for us, we need to be patience and follow the rules of the strategy properly at all time.
    Yeah its true we are never get success and good earning on this market without use a good trading strategy. Our earning is possible when we are use our own trading strategy. All traders are need to make a trading strategy or use a good trading strategy to beat this market and make profit on forex trading if you have not trading strategy then you will never earn any thing.

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  4. #63
    Trader sniper007's Avatar
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    Quote Originally Posted by Wechs View Post
    Yeah its true we are never get success and good earning on this market without use a good trading strategy. Our earning is possible when we are use our own trading strategy. All traders are need to make a trading strategy or use a good trading strategy to beat this market and make profit on forex trading if you have not trading strategy then you will never earn any thing.
    I think you should get to know that the good and bad trading strategy still comes from us, we have to decide what we want. In a nutshell, forex trading is somehow simple but because most of us are not doing it with the right amount of skills and knowledge. We often want to make fast amount of money, hence the reason why we have a lot of losses to deal with.

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  5. #64
    Trader YoyO_o's Avatar
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    i think it is very important about education that you have to get all about forex and its trading system and well experienced person easily can build up their career within quick time which is much easier and quicker for who has lots of money and time with better knowledge all about forex. With all of these you can build up your career with much quicker time than other business.

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  6. #65
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    this is everyone wishes to become successful in the forex market and want financial freedom, to become successful; we have needed to do practice and good knowledge about forex market than we can become successful. always try to learn new things.

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  7. #66
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    Quote Originally Posted by letsdo View Post
    this is everyone wishes to become successful in the forex market and want financial freedom, to become successful; we have needed to do practice and good knowledge about forex market than we can become successful. always try to learn new things.
    its true ,i think more about the trading skills , experience and abilities to choose a best trading plan always involves to enhance our earning ratios , so it only possible by the making a good ideas to trade in correct direction with overcome all the mistakes which are bad for our trade , a good trader always trade carefully for achieving best results .

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  8. #67
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    Quote Originally Posted by letsdo View Post
    this is everyone wishes to become successful in the forex market and want financial freedom, to become successful; we have needed to do practice and good knowledge about forex market than we can become successful. always try to learn new things.
    The forex trading market is opened for every one and any one can actually get to become part of the business and make money, one who wants to become successful traders all needs to learn, wishing will not do the job alone but with some apparent understanding of the market and have a good trading strategy we all can have good source of making money through forex.

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  9. #68
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    There is no other reason we are trading if not about working hard to build a profitable method that would give us the chance to make the needed profits that will improve us in trading. If we are hopeful to make profitable trade with forex, it's high time to build the right trade that will give us more chances to enjoy forex trading. Forex is a profitable business and once we make the steps to learn on this trade, we can build up the very strategy that will very much help us to make profits. The means of becoming successful should be followed because as a successful trader we can become financial free.

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  10. #69
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    Quote Originally Posted by Brain View Post
    The forex trading market is opened for every one and any one can actually get to become part of the business and make money, one who wants to become successful traders all needs to learn, wishing will not do the job alone but with some apparent understanding of the market and have a good trading strategy we all can have good source of making money through forex.
    Our own effort is the main thing in this business. If a trader have experience then he will easily get high earning and success on this market. All traders need first learn then join this awesome business because if you are join this business without learning then its create many difficulties for you which are cause a big loss on your trading account.

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  11. #70
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    become perfect trader is not very easy task for every one .every one wanna become good and successful trader but only few are gain success because of patience is success of key but most of people wanna earn money very fast.this not possible .if you wanna good trader then do practice as much you do and analyse market according with news and indicator.

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