Hints on how to become successful in Forex trading. - Forex Trading - CryptoTalk.Org Jump to content
George10

Hints on how to become successful in Forex trading.

Recommended Posts

1601016771733.png.bb6e61628a52be7d8a3547f4e906c488.pngBelow are some of the aspects that can help someone to be successful in the journey of Forex trading,take your time and go through.

 

1. Develop your trading strategy.

Developing a trading strategy is not that difficult and all you need to do is to use some of the indicators like MACD,MA and Ichimoku available at meta trader platform and look at the previous price movements on certain pairs or instruments it could be V75 and spot out some similarities in price movements like when the indicators forms a certain shape so that you know which move the price is going to after forming a certain shape and perfect your strategy in demo and once it gives good results you can apply it to the real account.

 

2. Exercise patience.

Patience in trading is very important to exercise for example if your strategy doesn't show a good entry into the market that day don't trade but rather have patience while waiting for a good entry.

 

3. Put greedy aside.

Greed has caused many traders to fail this journey of Forex trading and it's when you want to make so much profits that you end up using big lot size or start trading any how failing to control your nerves  or following your strategy and at the end of the day you get nocked out and to be successful avoid this.

 

4. Make a daily target of profits.

Don't trade anyhow but rather make a daily target of profits you want to be making for example if it is $20 then after archiving it leave the market until the next day,trade wisely.

Happy posting and good day family wish you success in your trading journey.

 

@Mwangi @Guru2050 @Dorjoy12  @gourav789

  • +2 2
  • +4 1
  • +5 2

Share this post


Link to post
Share on other sites
16 minutes ago, George10 said:

Don't trade anyhow but rather make a daily target of profits you want to be making for example if it is $20 then after archiving it leave the market until the next day,trade wisely

@George10 you have write a good topic About trading by Which i become more clear About trading strategy.. Yah Let's talk about greedy idea.. Usually trader dont do any mistake when they start trade Becuase before start trading truly trader prepare theirself by gain Knowledge and especially patience.. Ofcourse we need to set up a daily target in trading which will make our trading MORE easy....like the screenshots we can set up target                      

Screenshot_20200925-142419.png

  • +2 1
  • +3 1

Share this post


Link to post
Share on other sites
On 9/25/2020 at 9:01 AM, George10 said:

3. Put greedy aside.

Greed has caused many traders to fail this journey of Forex trading and it's when you want to make so much profits that you end up using big lot size or start trading any how failing to control your nerves  or following your strategy and at the end of the day you get nocked out and to be successful avoid this.

Well I most start by commending you for raising such a wonderful, reputable and useful topic for discussion, worth enough to give Positive reputation to the highest order.

@George10 why I appreciate you most because your forex trading is part of my main area of concern to master it before the end of this year and to midst of next year possibly. This post has added a lots of experience to me per say.

 

All are significant points mentioned above but the main problem comes from number 3.

We have to try our utmost to able to control, overcome our Instinct emotions to become a successful trader both in Crypto and forex market.

Some of good qualities a trader must possess include; Patient, perseverance and passionate. These 3 features are too important as it will help one to scale through to achieve his/her set target.

  • +3 1

Share this post


Link to post
Share on other sites
52 minutes ago, Guru2050 said:

 

Some of good qualities a trader must possess include; Patient, perseverance and passionate. These 3 features are too important as it will help one to scale through to achieve his/her set target.

You are right mate on the three points you have added that a trader needs to have or posses of which one of them is passionate,basically this is the one that always pushes a trader to get started with or without knowledge and it's good to control this feeling by gathering more knowledge first because those who get started with passion only but without much knowledge they do fail to make it in this journey of trading.

  • +3 1

Share this post


Link to post
Share on other sites

My starting in Forex trading was not that good but gradually, I started to shape my skills and now, managing everything to make profits even from Forex day tradings. Every aspects are important but patience taking ability and a good trading strategy is the key to be a successful trader. 

  • +2 1
  • +3 1

■   ■   ■   ■   ■   ■     PEER-TO-PEER MULTI-BLOCKCHAIN SYSTEM     ■   ■   ■   ■   ■   ■

 ━━━━━ ━━━━ ━━━ ━━ ━    Free TON    ━ ━━ ━━━ ━━━━ ━━━━━━

|► DECLARATION OF DECENTRALIZATION |   FORUM   |   TON SURF   |► BECOME AN AMBASSADOR |

Share this post


Link to post
Share on other sites

I want to be a successful trader, you brought good tips, I would to apply them on myself and see how this results, I will do my best and work as hard as possible to be a professional trader someday.

  • +1 1

"We grow by lifting others"

Share this post


Link to post
Share on other sites

Thanks for the tipps. I am new in forex trading world. 

Greedy or get rich quickly is the biggest problem.

  • +1 1

Share this post


Link to post
Share on other sites
On 9/26/2020 at 5:36 PM, Natalia99 said:

You are right, my friend, we have to be patient here and work hard to earn money and knowledge, and failure is not the end of the world. We have to pursue our work no matter how we fail and try again and again in order to succeed and reach our goals. My friend, I am one of your followers carefully here because you are well-versed in this field.

I'm glad for your contributions and words of advice you shared, it's true in Forex trading we always experience failure but the key is to keep pushing and acquire more knowledge and learn from your mistakes so that you don't repeat them and eventually you will become successful.

  • +1 1

Share this post


Link to post
Share on other sites

Totally agreed, we have to believe in ourself, believe in our strategy plan. There is no perfect plan, but we can adjust the plan to become nearly perfect. 

Failure also belong to the process to be success, never give up, learn from the mistake, dont repeat the same mistake.

Share this post


Link to post
Share on other sites

A cold calculating mind is very important in forex, no emotions. Fibonacci levels and gartley butterflies, wolfe waves work well in the forex market

Share this post


Link to post
Share on other sites

 

On 9/25/2020 at 2:01 PM, George10 said:

 

1. Develop your trading strategy.

Developing a trading strategy is not that difficult and all you need to do is to use some of the indicators like MACD,MA and Ichimoku available at meta trader platform and look at the previous price movements on certain pairs or instruments it could be V75 and spot out some similarities in price movements like when the indicators forms a certain shape so that you know which move the price is going to after forming a certain shape and perfect your strategy in demo and once it gives good results you can apply it to the real account.

Thank you so much sir for sharing this important topic. Well, i haven’t start any trade so i have no experience other than some knowledge.  

As you say developing trading strategy is really inportant and i think It's first step to enter trading. Because if you dont have any Knowledge about trading you can't achieve your success.

Share this post


Link to post
Share on other sites

In the train you cannot achieve in Daily  target 🎯 by yourself because the cryptocurrency market is not bullish always and you have to wait for certain days in order to stay in the profit in one trade

Share this post


Link to post
Share on other sites
On 9/25/2020 at 1:01 PM, George10 said:

1601016771733.png.bb6e61628a52be7d8a3547f4e906c488.pngBelow are some of the aspects that can help someone to be successful in the journey of Forex trading,take your time and go through.

 

1. Develop your trading strategy.

Developing a trading strategy is not that difficult and all you need to do is to use some of the indicators like MACD,MA and Ichimoku available at meta trader platform and look at the previous price movements on certain pairs or instruments it could be V75 and spot out some similarities in price movements like when the indicators forms a certain shape so that you know which move the price is going to after forming a certain shape and perfect your strategy in demo and once it gives good results you can apply it to the real account.

 

2. Exercise patience.

Patience in trading is very important to exercise for example if your strategy doesn't show a good entry into the market that day don't trade but rather have patience while waiting for a good entry.

 

3. Put greedy aside.

Greed has caused many traders to fail this journey of Forex trading and it's when you want to make so much profits that you end up using big lot size or start trading any how failing to control your nerves  or following your strategy and at the end of the day you get nocked out and to be successful avoid this.

 

4. Make a daily target of profits.

Don't trade anyhow but rather make a daily target of profits you want to be making for example if it is $20 then after archiving it leave the market until the next day,trade wisely.

Happy posting and good day family wish you success in your trading journey.

 

@Mwangi @Guru2050 @Dorjoy12  @gourav789

I think your post is very informative and useful for every trader. Thanks for sharing this useful post. In my opinion trading is the best for earning but you have more experience and patience . Without patience you can't trading. You set your daily target and achive this. 

  • +1 1

Share this post


Link to post
Share on other sites

For the Forex trading it is not easy to become a master and owner of that kind of trading because you can lose all of your capital with in no time so we should follow these simple things mentioned by you in the topic

Share this post


Link to post
Share on other sites

Well my friend your tips are great and helpful as said, it's important to have patience when doing forex trading while as making a strategy I also believe indicators can be helpful if we master how they work and how to use them by concluding I like your point we shouldn't have greedy whilst doing forex trading because it will take us nowhere.

@Lawrence Mwansa

  • +4 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...