Brian Luckhurst Posted August 25, 2016 Report Share Posted August 25, 2016 If you are contemplating becoming a professional forex trader you are no doubt looking for ways to become more profitable and maybe even hoping to hit it big, never having to work again. The fact is that while this is possible it is by no means easy. Before you become profitable you will have to know some rules of thumb what are the basis for this. For one a solid trading plan and the nerve to execute it to the letter. plus a myriad of other factors. Like a business owner you will have to choose your tools of the trade carefully, count the cost and then see if it will work out for you. So here are some solutions to becoming profitable that you can control. 1. Trading costs. As an active trader you will need your trading costs to be minimal. This is like with every other business, if your costs are higher than income you lose money. A trader can spend thousands or even tens of thousands of dollars on trading costs alone resulting in 10%-100% lower profitability making a good trading system useless. 2. Trade execution speed. It does not stop with pure costs though. Every trade you make can be either executed on the price you asked or miles away. This comes down to the speed of your orders going through. Now it is good to have a fast internet connection with low latency but so the same applies to the brokers connection. A good measure would be having orders executed below 0.2 seconds at minimum. 3. Order fill rate. The other reason you may miss a trade has to do with the type of the broker you have. Is it a broker automatically filling your orders without last look or is there a manual dealer or automatic system gaming you. This is hard to prove but the best bet is to go with a no dealing desk or an STP/ECN broker who will send your orders to a selection of other brokers and banks. 4. Depositing and withdrawal costs. Depositing and withdrawal costs can have a surprising effect on your returns especially if you are regularly adding more funds to your account. Broker offering this for free give a boost to your returns. 5. Shared accounts PAMM and MAM As surprising as it is a MAM account that includes the funds of many investors can give you bargaining power with brokers because the more funds you manage and bring in the lower the cost of trading will be with a broker. Written by TradeWiseFX Team - Source - http://www.tradewisefx.com/5-tips-for-new-forex-traders/ Link to comment Share on other sites More sharing options...
Guest boo_sl3 Posted November 18, 2016 Report Share Posted November 18, 2016 The ways favorable to make a profit in this business is to do a lot of exercises properly. The more exercise will make our ability better so that we should exercise properly by using a demo account or with the contest demo of broker Link to comment Share on other sites More sharing options...
Guest gaban Posted November 25, 2016 Report Share Posted November 25, 2016 Emotions should have minimal well because by trying to minimize the emotional well it will benefit us. Emotion will only cause losses, then of why we need to be able to minimize the emotions by trying to trade with small capital used to be like in instaforex Link to comment Share on other sites More sharing options...
uncle gober Posted November 25, 2016 Report Share Posted November 25, 2016 18 hours ago, gaban said: Emotions should have minimal well because by trying to minimize the emotional well it will benefit us. Emotion will only cause losses, then of why we need to be able to minimize the emotions by trying to trade with small capital used to be like in instaforex Of course the emotions should keep the mood, because it is a key to us to trade in the forex market, if we disturbed mood until then it will be very dangerous for trading we do Link to comment Share on other sites More sharing options...
tradesprint Posted November 28, 2016 Report Share Posted November 28, 2016 I better suggest keeping out our emotions while trading forex as these factors can blew our accounts within no time. Examples of such is greed and over trading etc. It is good to have a trading plan before entering the market. Link to comment Share on other sites More sharing options...
Guest gaban Posted November 29, 2016 Report Share Posted November 29, 2016 Taking a little time to repair our trading is not going to hurt us, especially with evaluating our trading can make us better trading again. By evaluating trading, we will also know which one is correct later. Link to comment Share on other sites More sharing options...
Guest boo_sl3 Posted November 29, 2016 Report Share Posted November 29, 2016 22 hours ago, tradesprint said: I better suggest keeping out our emotions while trading forex as these factors can blew our accounts within no time. Examples of such is greed and over trading etc. It is good to have a trading plan before entering the market. yes, to get profitable profit then we need to be able to control emotions well. Forex is a business that has a high risk that to succeed then we need to learn to control emotions well. we can start trading with small capital first to learn to control emotions well Link to comment Share on other sites More sharing options...
tradesprint Posted November 29, 2016 Report Share Posted November 29, 2016 To get good nerves and trade without involving emotions we better trade according to a trade management plan and should not exceed the limits in either way. Link to comment Share on other sites More sharing options...
Rubel Hossain Posted December 1, 2016 Report Share Posted December 1, 2016 All these things are definitely very crucial and must be kept in mind. However, I believe there is another side to been profitable and this is become your OWN BOSS! Not that we aren’t that already with Forex trading, but what I meant is been broker our self. This is a lot like dream, but this is absolute reality and that’s all thanks to TechForBrokers, it’s the platform through which we can operate our own brokerage company in simply unbelievable low cost and with ease! So, I believe nothing is more profitable than becoming a broker itself! Link to comment Share on other sites More sharing options...
Guest Steve Goodwin Posted April 6, 2017 Report Share Posted April 6, 2017 Very interesting post this is; yes my live trading cost is very low because I use live trading service of trade-24.com broker! Here I have narrowest trading spread facility with 30% welcome bonus offer, that’s way I get more opportunities into my live trading account to make live money from Forex market! On the other hand, there is no hidden fee or charge, so I get best profit in my live trading! Link to comment Share on other sites More sharing options...
Guest andengireng Posted April 6, 2017 Report Share Posted April 6, 2017 Yes the 5 ways that you said is pretty well, but how if you get profit and Mega rebate? Fresh Forex has a Megarebate program, let's check here Link to comment Share on other sites More sharing options...
Guest gaban Posted April 6, 2017 Report Share Posted April 6, 2017 The forex business is not easy, it also requires the right intention in living thus will not be any way to take a quick shortcut to great profit. It is necessary to the process that we run in forex by learning as in the demo or contest demo accounts from brokers instaforex Link to comment Share on other sites More sharing options...
Phantom Posted April 10, 2017 Report Share Posted April 10, 2017 On 4/5/2017 at 11:24 PM, gaban said: The forex business is not easy, it also requires the right intention in living thus will not be any way to take a quick shortcut to great profit. It is necessary to the process that we run in forex by learning as in the demo or contest demo accounts from brokers in carrying out trading that takes the process, because there is no business that instantly gan, so we encourage more adults to always strive to be and be able to make way we work, the better and easier to master, and to be able to make profits easily we should be able to understand the risks and memaham marketnya movement properly, therefore we should be able to understand how our analysis well to be able to master and understand how it works to make it easier to understand the benefits earned in Freshforex Link to comment Share on other sites More sharing options...
Guest gaban Posted April 10, 2017 Report Share Posted April 10, 2017 advantageous in carrying out the trade, one of the first who wanted to traders in getting her, for it to always to learn on the run it will be better if we get the profit. Link to comment Share on other sites More sharing options...
uncle gober Posted April 11, 2017 Report Share Posted April 11, 2017 absolutely right, we do have to be able to perform learning and training in order to improve trading skills and abilities that we have. we can use a demo account as a place to learn and practice without worrying about risks. Link to comment Share on other sites More sharing options...
Guest gaban Posted April 12, 2017 Report Share Posted April 12, 2017 On 11/4/2017 at 8:39 AM, uncle gober said: absolutely right, we do have to be able to perform learning and training in order to improve trading skills and abilities that we have. we can use a demo account as a place to learn and practice without worrying about risks. it must learn to run in forex business, because it will be able to get the benefit will depend on knowledge and trading skills possessed. Study is a demo or contest demo account can be used for more can be learned so that a better understanding of how forex run properly, and did not find it difficult in the current plunge in real account later Link to comment Share on other sites More sharing options...
ViproMarket Posted April 13, 2017 Report Share Posted April 13, 2017 exactly once, what more if we are a newbie, it is better we are able to focus on improving the capabilities and skills of trading that we have in order to be ready to trade using a real account. Link to comment Share on other sites More sharing options...
Guest gaban Posted April 13, 2017 Report Share Posted April 13, 2017 2 hours ago, ViproMarket said: exactly once, what more if we are a newbie, it is better we are able to focus on improving the capabilities and skills of trading that we have in order to be ready to trade using a real account. in forex beginner run business that it takes all the running processes of trading with exercises on the run, always able to get what is expected, it is necessary to process requires considerable time. Link to comment Share on other sites More sharing options...
resmana Posted April 13, 2017 Report Share Posted April 13, 2017 Just now, gaban said: in forex beginner run business that it takes all the running processes of trading with exercises on the run, always able to get what is expected, it is necessary to process requires considerable time. preferably with a fledgling business is always running well and trading with discipline, to have a good motivation to make it better in the running for future trading Link to comment Share on other sites More sharing options...
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