How to become a successful trader?

[Kodakoto]

Successful people are those who really take it as a serious job.

 

[Ishnge]

I believe that the choice of a broker also affects the success of a trader, which is why I trade with Expertoption, because its conditions are quite favorable conditions, as well as very high-quality support.

 

[yana hansen]

I believe that the choice of a broker also affects the success of a trader, which is why I trade with Expertoption, because its conditions are quite favorable conditions, as well as very high-quality support.

That’s correct. The broker plays a big role .

 

[Dugrel]

It is not possible to become successful in 1 - 2 months, you must give yourself time, and, of course, constantly practice and study.

 

[tedmos38]

Most important rule: Learn how to lose money properly.

That means appropriate position size, always entering stop loss orders, always sticking to stop loss orders, not revenge trading, not hoping and praying.

It took me 10 years of losing money to understand how foundational this rule is. Hopefully you will learn it quicker than I did.

100% true. In the beginning face, we see a lot of losses and we should learn from that.

 

[tayte]

As a newbie what things we should consider to become a successful trader? Plz help me to understand it.

Realize that alpha creation is a negative sum game, negative due to transaction costs. Observe how winning works in similar type games, e.g. poker, competitive video games, and you'll find some relevant answers.

 

[Thanag]

To be successful, you must be in a constant state of study and practice, this will give you the opportunity to achieve results.

 

[pureequity964]

You can try different things like reading forex related books and taking some effective courses. The main focus should really be on your learning process. Try to understand the fundamental analysis and learn how it works. Keep working on your strategy until you find it to be profitable for your trade. I also keep trying different strategies and learn new aspects of trading. They’re low cost brokers so help me a good deal with my money management. Anyhow, I find that it’s important to keep on using newer indicators as old ones become redundant in new market conditions.

 

[777]

You can try different things like reading forex related books and taking some effective courses. The main focus should really be on your learning process. Try to understand the fundamental analysis and learn how it works. Keep working on your strategy until you find it to be profitable for your trade. I also keep trying different strategies and learn new aspects of trading. They’re low cost brokers so help me a good deal with my money management. Anyhow, I find that it’s important to keep on using newer indicators as old ones become redundant in new market conditions.

All of that seems reasonable but in reality probably will not work

Try to find a real winning pro trader who will chat with you: hard. Even here, hard for a nice to know

Stay away from gurus-for-hire (and expensive courses) These are mostly fancy hustlers

A good a possibly helpful read for understanding what you are up against is the book:

Trsders of the News Era

The author of the above book posts in these forums

Ideally you develop a relationship, even work for, a winning trader: A professional who "currently' wins. Very hard. Especially in short term trading like day trading, edges end.

I commend you on trying to reason up a good learning plan but it is doubtful your current plan is enough.

Beast wishes. Good luck meeting the right people.

 

[George Orwell]

rule number 1- never trust the ig influencers. Signals are just cappin