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How to be a profitable trader?

3.00 star(s) 2 Votes

Quirky

Member
Hard work and continuously trying to improve your skills is important if you want to be profitable in a market that fluctuates constantly. Finding a strategy that brings in consistent profit and making it work by picking the right trend or opportunity is necessary. Maintain a journal to avoid repeating mistakes. Over time, you will succeed, Just be patient.
 

Possessive

New Member
There are a few things that I took care of and it went pretty smoothly for me. Stay away from the herds and their thinking. Do not attempt to time the forex market. Take a methodical approach to trading. Never allow your emotions to impact your decision-making. Always set goals that are achievable.
 

Allegator

Member
It takes time and effort to be a profitable trader. There will be times when you come across losses and might think of giving up, but don’t. Tweak your strategies, control your emotions and trade with positivity, and you shall turn the tables around.
 

Remiform

New Member
To be a successful forex trader, you must have the necessary skills and be willing to put in the necessary effort. You can't just put your money in and expect to get a return. You must put in constant effort, understand the changing market, and make the best selections possible.
 

ShihTzu

New Member
There are various profitable forex trading strategies available online. A lot of these strategies are of the high risk, high reward nature. You stand to gain a lot, but if things don't work out in your favour, you could lose a lot of your money as well. The most recommended strategy is to use a simple trading strategy and to focus on the basics. Know your entry and exit points and stick to your strategy. It is important to understand the foreign exchange market and how it works. This will help you to know when to enter and exit trades. Also, learn to manage your losses and know when it is time to cut your losses.
 

Liang Huiqing

New Member
To be a profitable trader, you need to upgrade your knowledge and skills. Keep a sharp eye on the latest market trends. Invest your money strategically. Remember, trading is risky. You must learn about risk management.
 

Bane

New Member
To be a profitable trader:
  1. Never stop learning.
  2. Do not underestimate the power of practicing on a demo account.
  3. Keep discipline.
  4. Keep your emotions away.
  5. Make realistic goals.
  6. Learn from mistakes and rectify them.
 

Tempera

New Member
  1. Keep learning and upgrading yourself.
  2. Practice as much as you can on a demo account
  3. Analyse several strategies and find out a profitable one.
  4. discipline is essential.
  5. Trading is not a shortcut to making money so have patience.
 

onomatopoeia

New Member
There are a few tips that helped me a lot to become a pro at FX trading and I also read a lot of books and watched N number of videos on the internet.
1.) Decide on a trading strategy that is appropriate for me.
2.) The trading strategy must be competitive.
3.) Properly manage risks
4.) Adhere to tight rules.
5.) Adaptability
6.) Accept responsibility for your errors.
 

Subfocal

New Member
You can become a profitable trader by mastering technical and fundamental analysis - by which you can predict the market accurately, and by using proper risk management to curb your losses.
 

mtrua

New Member
Follow the market, invest in business you understand and learn more. Don't forget to use stop loss/take profit orders.
 
Keep learning. Because learning never stops. Learn, practise, implement, apply, and relearn. This cycle needs to be continued because learning will never stop.
 

deaddog

New Member
Some tips to become profitable -

1. Define your trading strategy and the trading rules.
2. Record the trading rules in writing.
3. Start trading.
4. Record results.
5.Review your trading, identify mistakes and fix them.
 

Odis1942

Member
Along with strategies, risk management, trading plans, and capital to be invested, I believe that consistency is the most important factor in trading success.
 

Serimeter

Member
I developed a winning strategy built on three pillars; a robust methodology, a good money management system and a psychological posture suited to my personality. Balancing all three has proven to be my edge to trading.
 

Asteism

New Member
Don’t follow anyone. Build your own rules-based trading routine and stick to it. Be thoughtful about the capital you will be using for trading. Learn to keep patience because good things take time.
 

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