Tips to be a successful forex trader
Any trader wants to be successful - it is normal to yearn for great profits and favourable results. However there is often the misconception that a really successful trader is one who is really wealthy - with a big house, luxurious car etc. And to top that up that kind of guy does not have to spend so much time to earn money. Is this true though? This kind of image is not such a realistic representation of success in forex trading, and while there may indeed be some wealthy traders around, I doubt that they managed to do it effortlessly or really quickly.
I think that realistic Forex success should be viewed with these things in mind:
- Small profits achieved regularly can still be satisfactory - in time you can increase the profits by investing more, but do not rush.
- You need to spend some time regularly, or ideally daily on forex trading, and not expect to do it on and off and gain the required experience and skills to manage to do well.
- Do your best to learn, and keep learning, as well as be up to date.
- Use a trading journal and pay attention even to seemingly minor details.
I am sure that over time if you keep these points in mind you can be successful in trading. Do you have any other suggestions or advice?
I think that realistic Forex success should be viewed with these things in mind:
- Small profits achieved regularly can still be satisfactory - in time you can increase the profits by investing more, but do not rush.
- You need to spend some time regularly, or ideally daily on forex trading, and not expect to do it on and off and gain the required experience and skills to manage to do well.
- Do your best to learn, and keep learning, as well as be up to date.
- Use a trading journal and pay attention even to seemingly minor details.
I am sure that over time if you keep these points in mind you can be successful in trading. Do you have any other suggestions or advice?
Aug 04, 2021 15:13