vickymacklean Posted November 19, 2019 Share Posted November 19, 2019 Becoming successful in life is very hard. You must have complete control over your emotions and lead your life with strict discipline. Those who are habituated with a disoriented lifestyle can’t do anything productive. When it comes to the trading profession, discipline is not the key element that ensures success. As a new trader, you should study the professional traders at Rakuten and only then you will be able to make consistent profit from this market. Among various rules, the top four rules to become successful traders are – 1. Discipline 2. Education 3. Strategy 4. Consistency Discipline No matter which profession you chose, discipline will always be the most important element. Most of the naïve traders break the rules associated with their trading strategy and start taking excessive risks to recover the loss. Losing trades is nothing but a part of this profession and there is nothing you can do about it. You must reprogram your mind and accept the fact, losing trades will become a part and parcel of your life. But this doesn’t mean you will lose most of the trades. To make money in the trading business, you must have a 60% win rate. Once you develop such a strategy, you should not break the rules. Because if you do so, the risk-reward ratio will get hampered and recovering the loss will become impossible. Education Knowledge is power in human life. You must educate yourself and learn the three basic forms of market analysis to become a successful trader. Those who are new to this profession should never trade with real money. Demo trade the market and try to understand how this market works. During your learning stage, note down the details of each trade so that you learn from your mistakes. No one in this world can make a profit without having the proper knowledge. Start with the technical parameters of this market. Learning the technical part seems easy but this is the most complex part of the Forex market. Once you are done with the technical knowledge, focus on the fundamental and sentiment analysis. Based on these three forms of major analysis, you need to create a simple strategy. Strategy Do you know any successful businessman in life? If not, read the biography of Warren Buffet or Bill Gates. They have precise knowledge about their business and they know how to operate under extreme stress. To overcome all the problems in the global economy, the have a balanced strategy. Just like them, the traders need to have a balanced strategy where they can do the advance market analysis based on logic. Those who trade the market with emotions can’t do anything in trading. You are here to make a profit and for that, you must use your intellect. If you start acting on emotions, your strategy will not be effective. And try to develop the strategy in the demo account offered by Rakuten since you won’t have to lose any real money. Once you get confident with the market nature, start trading with real money. Consistency Consistency is very crucial for retail traders. Winning 5 big trades in a row and blowing the trading account in the next trade is not a professional approach. You never know which trade will result in loss. And to prepare yourself against this unpredictable market, you must use the simple strategy which focuses on consistency. Stop trying to win big trades since the result is very dangerous. Never overtrade the market to make more money. A few good trades are enough to change your life. Always remember, trading is the job for elite class people. If you fail o comply with the basic rules of investment, you should never try to lead your life based on the trading business. Assess your personality and know your requirements before you consider trading as your career Link to comment Share on other sites More sharing options...
Jo Eshuijs Posted November 19, 2019 Share Posted November 19, 2019 One of the best trading tools for the Forex traders is the risk management which is also known as money management in this field. By applying the right risk or money management tool a Forex trader can easily control or minimize his risk. Forex4you the experienced trading broker I have been selected because they are very well- understanding and thus they give various risk managing tools in free in their platform. Link to comment Share on other sites More sharing options...
Lilly Hardson Posted November 19, 2019 Share Posted November 19, 2019 I think dedication, learning, patience and hard work are the main key’s of success in any sector of life. In case of Forex business theses things will help you effectively to achieve your success and you can gain profit. With my broker ForexOne I can always trade well and comfortably because they give free learning programs, expert assistance, various trading platforms, error free trading environment and many others so I can trade simply. Link to comment Share on other sites More sharing options...
mlawson71 Posted November 19, 2019 Share Posted November 19, 2019 Another thing to keep in mind is that proper risk management is necessary in order to trade successfully, so one should definitely pay attention to that as well. Link to comment Share on other sites More sharing options...
uncle gober Posted November 21, 2019 Share Posted November 21, 2019 the existing funds and risks must be able to be managed properly, this is needed so that traders can become better and can get more leverage in generating profits in accordance with expectations when they are in a Tickmill real account. Link to comment Share on other sites More sharing options...
Ross Edwards Posted December 19, 2019 Share Posted December 19, 2019 To become a profitable forex trader, one should choose the best trading techniques. Trading techniques and strategies is mainly responsible for making profit. different broker has different trading techniques. We should choose the best one which match with our strategy. I choose TP Global FX as my broker. I can easily apply my trading strategy with them. They are very supportive and helpful. They give me all kind of facilities in my trading. Link to comment Share on other sites More sharing options...
Michael Butcher Posted June 9, 2021 Share Posted June 9, 2021 I believe that trading is a really great option for earning. The important part of trading is to achieve a positive result. You need to make sure that the broker is reliable before start. When I was looking for the right broker I found the site Finarm, which helped me to choose the right broker. I can recommend you to visit it. Link to comment Share on other sites More sharing options...
Resolve Posted June 9, 2021 Share Posted June 9, 2021 11 hours ago, Michael Butcher said: I believe that trading is a really great option for earning. The important part of trading is to achieve a positive result. You need to make sure that the broker is reliable before start. When I was looking for the right broker I found the site Finarm, which helped me to choose the right broker. I can recommend you to visit it. I am doing my Forex Trading with the International and Regulated Broker FXOpen Markets 🙂 They have Low Spreads in the GOLD and the Forex Pairs with USD. See the screenshot below Link to comment Share on other sites More sharing options...
maspluto Posted June 10, 2021 Share Posted June 10, 2021 The selection of the existing broker must be able to be considered carefully, this is done so that traders can become more leverage in surviving and can become a trader of the month with Tickmill. Link to comment Share on other sites More sharing options...
Resolve Posted June 10, 2021 Share Posted June 10, 2021 4 hours ago, maspluto said: The selection of the existing broker must be able to be considered carefully, this is done so that traders can become more leverage in surviving and can become a trader of the month with Tickmill. We need to select a Forex Broker that has Lower Spreads. This is the reason why i choose to do my Forex trading with the FXOpen Markets 🙂 They have Low Spreads in the GOLD and the Forex Pairs with USD See the screenshot below Link to comment Share on other sites More sharing options...
David Meyers Posted October 22, 2023 Share Posted October 22, 2023 The nature of Forex is different from others asit provides you with the flexibility and freedom which is badly necessity for every human being. Forex won’t keep you busy all the time. And to trade in this market, you can go for FXOpulence broker. The broker is highly secure for traders. Link to comment Share on other sites More sharing options...
maspluto Posted October 25, 2023 Share Posted October 25, 2023 There are many things to consider in forex trading, and I am still in the process of learning and training myself. By doing all of this, I can deepen my understanding and knowledge of the forex market with Tickmill as my broker. Link to comment Share on other sites More sharing options...
uncle gober Posted November 22, 2023 Share Posted November 22, 2023 To engage in forex trading, the first thing we need is a broker, as the broker serves as a bridge for traders to participate in forex trading. That's why I chose to join Tickmill broker, allowing me to trade forex comfortably and safely here. Link to comment Share on other sites More sharing options...
maspluto Posted December 21, 2023 Share Posted December 21, 2023 Success in forex trading is not an easy feat; it involves a process and time. The most crucial aspect is for traders to consistently engage in learning because through regular learning, everything can gradually be understood and mastered correctly alongside Tickmill as the broker. Link to comment Share on other sites More sharing options...
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