Can anyone be a Forex Trader?

[pipdreaming]

Of course

I believe there was a book called "turtle trader" and it was about complete newbies who were shown how to trade the stock market and be succesful, it was quite interesting hehe

 

[perryfx]

I believe there was a book called "turtle trader" and it was about complete newbies who were shown how to trade the stock market and be succesful, it was quite interesting hehe

Thanks for this info mate. I am also looking forward to start my career as a turtle. Because I don't have money to gamble. Need to learn well before jump in to the well.

 

[Pharaoh]

Beware - since the Turtle Traders are famous, there are a lot of "turtle trader" products out there that have nothing to do with the turtle trader concept.

 

[juanita1]

Don't be a turtle. Learn from your experienced mentors and cut your learning curve short!

 

[perryfx]

Don't be a turtle. Learn from your experienced mentors and cut your learning curve short!

Agree with you. But we cannot cut the essential beginning learning curve. After got to know most of the essential knowledge we can cut the learning curve.

 

[navyseal]

This is a nice question, I think forex trader is easy for everyone. Even my 10 years old younger sister can know how to buy/sell, set SL or TP and she can know how we can earn money from Forex.

But to be a successful trader can earn thousand a trade is very hard.

 

[Pharaoh]

Don't be a turtle. Learn from your experienced mentors and cut your learning curve short!

The turtle trading method was taught by an experienced mentor. Here's the original guy:

Richard Dennis - Wikipedia, the free encyclopedia

What's interesting is that although he successfully trained traders and had been a successful trader himself, he later got out of trading after some serious losses. My best guess is that he didn't keep up with changes in the patterns of the market.

 

[Mike51]

Hi manish88,

I want to reply to part of your post in which you say "Simple techniques perform best in Currency dealing, because they are more solid than complex ones with less components to crack."

I cannot agree with you more.!!!!!!

I am on track with a very simple, no indicators, S/R type of trading plan and it is starting to work out very well.

When I found myself trading without indicators and so simply, it freaked me out because I thought it was wrong to go back to something so simple after studying all those indicators and systems that everyone still hawks.

Guess what? It is very freeing and my charts are so clean as well as my thinking and minimum of analysis.

Most of what I need to do now is to have the DISCIPLINE to take small losses when they come my way.

Avoid large losses, not be afraid to lose small and take it as the cost of your business.

Large losses I call DAT's (Dumb Ass Trades) LOL.

Simple Techniques....YES YES YES. Do not ignore this sage advice and you can grow rich slowly but surely.

THanks for your thoughts manish88

Best from Bassman

 

[Nahai]

Yes anyone can trade. The trading system depends on the character of a trader. In my opinion anyone who knows what is forex strategies can trade after a good practice in demo accounts.

 

[RahmanSL]

"But to be a successful trader can earn thousand a trade is very hard."

Yes you can earn thousands in profits every day.....BUT just don't expect to do that with a USD50 or even USD10k trading account.
To have sufficient margin to take those initial losses, trade on a well funded account.