Can anyone be a Forex Trader?

[Sub-zero]

My two cents
In order to become a trader a person should:

1. Learn the basics of FX trading.
2. Practice with demo account hard.
3. Accept money management rules and strictly follow them.
4. Get emotions under control.
5. Continue to educate theirself.

 

[ewan_savage]

In theory, I suppose that "Yes, anybody could be a trader", but in reality, I'd have to say no. FOREX trading requires the same traits that it takes to be a successful businessman, financial planner or a person who's good with numbers, reading, has a good memory and can do more than just follow some guidelines while trading... because we all know the market shifts and changes, and it's only those who are on the up-and-up that can see this... while everybody else using a robot or something akin gets lost on the curve and takes hits until they catch up... at which point everything is set to shift again... so no, I don't personally think just anybody can be a trader.

 

[WaveRider]

I have a solution. Anyone who is emotional, inconsistent, indecisive, desperate, fearful, greedy, has a gamblers mentality or is too lazy to read a book on trading, or anyone ready to trade live without a written strategy and without having traded demo first, just send me your money. PM me and I'll send you my email and you can PayPal 50% or 85% of your account value to me or whatever level you were going to trade and lose before you got discouraged and left. No need to give it to FapTubo or FXCM or any other swindlers. So you'll feel better, I'll even promise amazing returns, tech support of just $150/month, guarantees about whatever you want. I promise you'll never choke to death on peanut butter and you will never be grumpy in the morning ever again. So give me your money dear 95%. And remember, the more money you give me, the more money I'll have.

It took me a while to figure this out but there are a lot of successful forex traders out there with trade journals that describe how to win. These same traders also describe how to lose.

No, wait I mean PayPal me all your money. What was I thinking?

 

[yideng]

I have a solution. Anyone who is emotional, inconsistent, indecisive, desperate, fearful, greedy, has a gamblers mentality or is too lazy to read a book on trading, or anyone ready to trade live without a written strategy and without having traded demo first, just send me your money. PM me and I'll send you my email and you can PayPal 50% or 85% of your account value to me or whatever level you were going to trade and lose before you got discouraged and left. No need to give it to FapTubo or FXCM or any other swindlers. So you'll feel better, I'll even promise amazing returns, tech support of just $150/month, guarantees about whatever you want. I promise you'll never choke to death on peanut butter and you will never be grumpy in the morning ever again. So give me your money dear 95%. And remember, the more money you give me, the more money I'll have.

It took me a while to figure this out but there are a lot of successful forex traders out there with trade journals that describe how to win. These same traders also describe how to lose.

No, wait I mean PayPal me all your money. What was I thinking?

Everyone can be trader, but very difficult to be a successful one.

Your proposal is interesting and just like kidding. I believe if people know you well would do like that and it's workable if you are experienced trader, but for strangers, trust is a big problem.

 

[WaveRider]

Everyone can be trader, but very difficult to be a successful one.

Your proposal is interesting and just like kidding. I believe if people know you well would do like that and it's workable if you are experienced trader, but for strangers, trust is a big problem.

That's easy, Ill just make a nice website. Poof! Instant trust. Or I'll make 50 websites that seem independent but all are praising my product as super duper. Big time trust. I'll just smile and tell visitors to my site to trust me. That has worked very well for a lot of brokers, EA designers, and education peddlers.

 

[Pharaoh]

Waverider,

Please stop sharing my retirement plans.

 

[WaveRider]

AARGH Pharaoh! You're FapTurbo! The biggest FPA infiltrator ever!

 

[craigthinks]

I don't think this question was properly answered. My 3 cents.
I believe some countries restrict Forex trading like India. Also, some countries may restrict people from getting accounts like people in jail or too young. You also need money, time, a computer, a conection, a broker and a brain, so that may eliminate a few people.
The below list is good, but you need to track your trades too. I can always tell a scam trader as they don't track their trades and have a portfolio I can see. Henry Liu live trading and others come to mind.
...My two cents
In order to become a trader a person should:
1. Learn the basics of FX trading.
2. Practice with demo account hard.
3. Accept money management rules and strictly follow them.
4. Get emotions under control.
5. Continue to educate their self.

 

[Anita Taylor]

For me the most important thing in forex are emotions. A trader must learn to control all his emotions while trading. Also, forget about such feeling as greediness. And also practice- all your free or not free time you must practice.
p.s. Can you tell me, please, is forex really forbided in India? Why?

 

[Pharaoh]

I keep hearing mixed messages about forex being forbidden in India. You may want to check with your bank and see if they will give you any trouble sending/receiving bank wires from a forex broker.