How To Become A Profitable Trader

[moonchild]

Profitability is the sole aim of trading if you have been trading for a while you will understand what this means.

There are phases in Forex Trading, in the beginner phase it's ready a bit hard to be profitable because you are mostly learning and trying out new stuffs, strategies and also learning all bunch of stuffs but after a while you start gaining mastery and also start seeing forex differently this is the time you start thinking for yourself and also starts to make your own opinions based on things that you know and also start getting profitable slowly.

Then there's the mastery stage where you know virtually everything that you need to know to be successful you have already started making money here.

But, it is good to know that this is not linear there are a lot of moments you wish to give up and also there bare traders that will not be profitable for a very long time.

If you find yourself in that circle, then it's best you start to ask yourself questions on what you're not doing right and fix that and also try and get yourself a mentor that will lead you it is very important also.

 

[MakeitWork]

I can't agree more, Trading is a game of patience and observation paired with statistics and strategy.

I've been through a huge loss in trading, took me months in order to lower down that risks and became successful, I am not saying I gain profit of 100%, but getting atleast 60%profit is already huge for me.

I got backed up by 20MinuteTrader and teach me how to spot a pattern in an specific stock then taught me about TradingView and PowerE*Trade App. do you think these tools is already good? well it works for me anyways.

 

[Jack Reacher]

Knowledge is the powerhouse! So if you wanna be a consistent player, try to gather trading related news as much as you can! On the other hand, don’t do for scam Forex brokers, try to use only regulated broker! In my live trading, I use Eurotrader broker, they are friendly enough to the retail Forex traders, I get such a friendly trading environment although my trading balance is below the 5K USD!

 

[Seema S]

Hi,
If you are a new trader, there have thousand of online forex/trading sites to join. Visit them, join a group and you will see your knowledge is going up.

 

[steveblue]

To learn how to trade forex, you need to purchase the right materials and tools either online or from a reliable vendor ,reason been that a lot of markers parade themselves as professional trader all in the bid to sell crap and make cash off traders. So if are fortunate to get the right material,take time to learn and learn the principle and technique of how the forex market works this could take several years ranging from 5-10years depending on the more time you devote for learning and how fast you can comprehend it. Thereafter you can then proceed on developing your own unique strategy which you have to test and backtest over a period of time to study its performances to know whether it is profitable or not. Note all your testing must be carried out on a demo account which you open with your preferred broker of choice.

Once you are satisfy with the result, you can then open a live account with a small capital and test the waters. gradually build your capital and once you good to go , you can then increase your capital and trade for bigger profit.


The second approach would be for you to contact a seasoned profitable trader with result to show for it. You can then buy his/her Profitable Strategy and learn under his/her mentorship to know how the strategy works . The advantage of this procedure is that it reduces your learning curve and put you ahead to start trading forex soonest as possible like the PRO'S.



have been trading the Forex market for more than 10 years now. And i have developed variety of profitable strategy among is the Strategy called FOREX CASH HAMMER. This strategy is a semi-automated strategy that simply analysis the market and once a valid signal is detected, it automatically print out the chat markup parameters levels on your screen just follow the levels line and copy the corresponding , ENTRY, TAKEPROFIT1, TAKEPROFIT2 STOPLOSS value and enter the trade. The suucess rate of this amazing software is 96% and i guarantee you start trading to make profit if you are an experience trader who has always struggled to make profit . Also newbie can make use of it alike with less instruction to follow unlike most strategy with cumbersome instructions.

 

[Setho]

Everybody who is going into the forex market is doing so because they want to be able to make some extra money and at the end of the day make huge profits from their deposit . It is not everybody that is employing the right strategy to ensure so and that is why there are people failing .

If you want to be profitable in the forex market you should be able to have a wide knowledge about the different kind of market and cryptocurrency bears and indices that we are having there . This is because there is usually a difference between them and there are some strategies that do not apply to them we are as are very effective in the other.

You should also be able to have a sound knowledge on technical and fundamental analysis in the forex market . There is a popular saying that history always repeats itself in financial markets and as such if you can be able to know technical analysis or be able to hear news as it is happening you can be able to predict where prices going to go . This does not automatically mean success but having knowledge of this is going to help you to maximize or minimise losses.