tips for become a good trader?

Dwayne · Jun 5, 2020

Abbas Ali Khan said:
its all has logic , avoiding over trading should first step , because only this reason we the traders always lost our maximum equity.

I agree. Greed and fear makes us over trade and that spoils the game.

Diego23 · Jun 5, 2020

Dwayne said:
I agree. Greed and fear makes us over trade and that spoils the game.

Don't you feel that sometimes Fear also can be useful to minimize the risk in forex trading ?

kreskos · Jun 6, 2020

In general, fear for forex is a very bad character trait. It will be superfluous. We need a system analysis that will show all the risks. And fear can only aggravate everything.

notagain · Jun 6, 2020

Buying power stop, to force quit trading on a bad day. Trend following with multi time frames. Sizing price target and stop loss to fit within the daily average true range. MetaTrader platform creating a trading robot.

KCalhoun · Jun 6, 2020

Good thread.

To avoid overtrading, memorize and focus on trading 1 top setup
Trade very small size with very cheap stops
Look for opportunities in related pairs
Expect to take more stops than wins, use scaling to leverage winners

BorisSutherland · Jun 7, 2020

The best advice I can give you is to be patient and not follow the crowd

Coner1980 · Jun 7, 2020

To be successful in Forex, you always give your maximum to it. Learn it first and then think about making a good profit. Always do hard work which will be helpful to become a good trader.

Dwayne · Jun 8, 2020

Diego23 said:
Don't you feel that sometimes Fear also can be useful to minimize the risk in forex trading ?

Yeah sometimes it can and sometimes there is FOMO too. So it can be both good and bad.

evasmith · Jun 10, 2020

The very first step to become a good trader is to practice a lot before you start trading with real money.
Be passionate about what you are doing and keep a constant knowlegde of what is happening in forex market.
Play safe but at the same time try to take some risk because risks turn into profits.

kreskos · Jun 11, 2020

In general, it is quite difficult to say who can be considered a successful trader. And if an experienced trader after a few profitable trades turns out so that the transaction will be unsuccessful?