Trading Discussion What Does It Take To Become A Forex Trader?

[kayode10]

Forex trading is cool and I have been working hard to learn how to trade forex to make passive income.

I have downloaded couple of forex trading ebooks so that I can increase my knowledge. I also got myself some videos on YouTube as I am preparing myself to become a forex trader in the nearest future.

I tried to join different forex trading groups so that I can receive the latest tips and trading method to be using that will suit my lifestyle.

The next thing for me is to get myself a mentor that will guide me in the process of becoming a forex trader.

So I want to ask you guys that what does it take to become a competent forex trader?

 

[Sotherefore]

Yes is it a school and those people that are interested of becoming a forex trader need to learn it perfectly to understand it because without it you are not likely to succeed, it is better not to even make an attempt to trade on your own when you don't have all the necessary knowledge and understanding.

 

[Setho]

You have made some very valuable and intentional steps in your journey towards becoming a forex trader. I would advise that you should learn about two or three trading strategies and the conversant with wordings like demand-and-supply zone. You should then set up a demo account with the broker that you created an account with and practice those strategies.

 

[Wisdom01]

I think most times to become a forex trader it requires having the knowledge and skills on how to make a proper trader and also have an investment with you , Because that is what you would use to.make more gains from the market I thinks as it is more important to note

 

[Dita Walczak]

Make the best of time and be patient about trading. Swing trading or scalping- both are essential at times depending on the market condition. But execute your trades with a regulated trading broker. Eurotrader provides signals on and off to traders so traders can derive some profit on the market.

 

[FXOchartist]

I just want to say if you want to become an independent trader, you must be profitable. Despite forex promising an unlimited source of income but without good trading skills, only wastes money, really this needs hard work and high dedication to survive in the forex market, Building up a good mindset, forex is no quick way to get rich in at a short time. Practice using demo ECN FXOpen All traders can improve their trading strategy and learn with the practice for free without any risk. Make sure working in a demo account really seriously learning how to manage the risk, how to enter the market, and also learn to make good trading habits like avoid over trading, being greedy, and keeping control emotions, although the demo has a drawback because only use virtual money, usually will different feeling when you trade on demo compared trade on real trading account.