5 Best Success Mantras Of Forex Traders

[Hipparchy]

"The trend is your friend."

This is one of the most popular mantras among forex traders, and for good reason. Trends can be your best friend when trading forex, as they can give you a clear idea of which way the market is moving. By following trends, you can make profits more easily and with less risk.

 

[Citigrade]

Along with these tips, dedication, focus, education, and discipline are necessary too. The OP said to love small losses. It is so true! Accepting a loss of any kind is crucial; we cannot agonise over losses; it is necessary to learn from them.

 

[Berserker]

Below tips really worked for me, you can also prefer them:

1. Keep learning. This is the key to success in the market.
2. Practice as much as you can
3. Trade with a plan
4. Maintain a trading journal
5. Learn from others mistakes

 

[FXprime0721]

Thank you so much, I am learning to trade now and I hope your knowledge can help me!

 

[Chorology]

Thanks for sharing this post. I am summarising this again.

1. Choose a trading style wisely.
2. Get the broker according to trading platform
3. Determine entry and exit time wisely
4. Choose one method and stick to it
5. Weekend analysis

 

[Agynary]

My success mantra for forex trading is to stay calm. I have seen traders lose their mind every now and then and it is not my cup of tea.

 

[Hootenany]

Trade however you want to. Without getting an experience of how a certain strategy works, you will never be able to know the real thing. Take calculated risks and see how you want to keep moving in your trading career.

 

[Spectrograph]

This was an insightful read and all the points mentioned by the OP are essential for success in forex. Another point which I want to add is to always learn from your mistakes. That is the only way to get better in trading. Prioritising risk management is something that worked for me all the time.

 

[Siphonic]

You should prefer to trade if you are mentally and emotionally fit and if you lack any of these, trading is not possible. One can trade, though, but that would result in loss and nothing else.

 

[Quibble]

The best mantra/advice is to separate your emotions from trading and trade with a tested system. Align these two with a trading plan. You can become a profitable trader.

 

[Macromania]

No mantra other than your hard work works when you want to become a successful forex trader. Try to make the most of the market by staying updated with what is happening and how you must trade when you find a good trade.

 

[Monopial]

You have made a good post. Let me summarise it.

1. Choose trading style wisely.
2. Get the broker according to trading platform
3. Determine entry and exit time wisely.
4. Choose one method and stick to it.
5. Weekend analysis

 

[Descrive]

Choosing one method for many beginners is difficult as they run after methods that ultimately give them what they want. But it is not so. They have to stick to one method until they find something better than they were using. It does not work the other way.

 

[Semantology]

Thank you for sharing this post. The only thing I want to add is never stop learning. It is definitely not easy to attain long lasting success as a forex trader and we must keep on learning from our experiences to reach that level.

 

[Rheometer]

Yes! They are important for the success of a trader. Every trader needs to choose their own trading style wisely; they choose their trading style by following others, and sometimes, it is blind following. Patience could also be added to the list, as lack of patience makes many traders leave forex quickly within months.