Traits of a successful Forex trader!

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Euro200
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Traits of a successful Forex trader!

#1

Post by Euro200 » Mon Jul 08, 2019 11:24 am

A trait of a successful forex trader is that he is not emotional while making a plan. He makes a well documented plan which includes risk supervision and specifies the expected return on investment. He also makes strategies according to the situation.

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BeJimmiebiano
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#2

Post by BeJimmiebiano » Mon Sep 23, 2019 10:43 pm

It is interesting. Tell to me, please - where to me to learn more about it?

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Akhil
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#3

Post by Akhil » Sun Apr 26, 2020 6:37 pm

The stages of a successful trader can be summarized as following:

The Rookie Trader: Having lost most of your funds you realize what's wrong with your methodology.

The Developing Trader:
The realization of how much you have to learn and what a daunting task it is! Most traders quit at this stage.

The Determined Trader
: You find your calling. You begin to develop skills in a specific trading method.

The Consistent Trader: You have now developed your methodThe Clueless Trader: When you have just begin.
and take up trading full time.

The Expert Trader: You know enough to publish a book.

"The fool is precursor to the savior: start by doing it badly" - Jordan B Peterson.

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#4

Post by Akhil » Tue Apr 28, 2020 5:37 pm

In short, here is how it goes:
1. You could start by learning through Books, YouTube, forums etc.
2.Once you have understood the basics you start by demo trading with the help of a demo account. You carry on using demo accounts for as long as till you begin to observe that you are making profits consistently.
3. You begin to use a real account and realize that trading through real account is nothing like trading through demo account; your technique doesn't work and you start losing funds.
4. You go to step 1.

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