How to Become a Forex Trader

braforex81

Newbie
9 0
  • Develop a trading plan and always adhere to it.
  • Only trade when you feel it's the right moment.
  • Set stop-losses for every trade. ...
  • Keep your emotions separate from trading.
  • Don't risk more than 5% of your margin per single trade.
  • Never trade to compensate for your losses.
 

Kevin FD

Active member
124 11
developing a trading plan is really necessary , every faction in this trading place is uncertain so we the traders of course should develop our trading strategy , otherwise no way to survive successfully.
 

MariaRose

Junior member
40 4
There are many forex trading strategies in forex market and varies from individual to individual. I don't know if you're new or an experienced trader but, trading with trend strategy is one which is used almost by everyone whether new or an experienced forex trader. Try to learn about how to read the charts and read more about few technical indicators such as SMAs and EMAs to analyse the price movement better.
 
G

guest41766

0 0
Best advise is to ditch TA asap and build lists on twitter and follow news and how it affects prices. Build a framework for how markets move.
 

Henow1969

Well-known member
311 39
Having a good and working plan is very important to be successful in Forex trading. If you have a good plan and strategy then it would be easy to succeed in forex.
 
  • Haha
Reactions: CavaliereVerde

maby8

Junior member
47 8
I liked what you wrote and here are my comments:
  • Develop a trading plan and always adhere to it. - a tradnig plan is very important as it sets the way, but you should stick to it, as long as you see it is making sense as at times you may need to change.
  • Only trade when you feel it's the right moment. - very important to trust your instincts in conjunction to proper analyses though.
  • Set stop-losses for every trade. ...- this is important too as it sets some idea of what you will do eventually and so helps reduce certain uncertainties.
  • Keep your emotions separate from trading. - very very very important, many traders fail to understand the importance of this.
  • Don't risk more than 5% of your margin per single trade. - even less, but 5% is realistic.
  • Never trade to compensate for your losses. - also makes sense as sometimes this makes you trade unresponsibly and with lack of proper thinking and evaluation. probably ending up with more losses if you use this line of though.
 
 
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