The 4 Pillars of Forex Trading Success

Pierluigi Locatelli

FPMarkets Multi and Spammer
Messages
11
These are the most relevant ones for me:

Avoid forex trading software that claims to guarantee returns
Always use a demo trading account to start with
Forex trading can be highly stressful – avoid emotional trading
Invest in a solid forex education
Keep learning and reading news
Manage your forex capital wisely
Manage your investment per trade wisely
Ensure you use risk protection strategies at all times
 

7Bulletin

Sergeant
Messages
134
What is the difference between intention and desire? Understanding the effort required. Trading is not a path to easy profit, but a skill based on good theoretical training and psychological practice. And do not hope to acquire the necessary knowledge and skills in a couple of weeks: you will have to combine more than one month of "boring low-paid job" with training, because only after serious training can you claim to be a serious success.
 

steveday76

Private, 1st Class
Messages
65
So many different things need to come together in order to become a profitable trader. Discipline and money management are two things that a lot of new traders struggle with.
 

ForexViking

Recruit
Messages
130
100% agree. To many people chase the money rather than trade strategically. I set and forget when I’ve come up with an entry :)
 

sebking1986

Recruit
Messages
194
Discipline and money management are the two that fall under the realm of mindset and psychology and are the hardest to master by far
 

pezz55

Sergeant
Messages
134
For me, emotions are a key factor in the market, which is why I do not even approach the computer, if I understand that I am annoyed today and unable to assess the situation objectively. Because only calmness in any situation is a guarantee that you will be able to find a way out and cope with any difficulties. I have read a lot about the psychology of traders and I know that it is emotions and excitement that can cause reckless actions and, accordingly, loss of capital. And this is what I want to avoid first of all. And every day I do my best not to make it happen.
Yeaqh emotions is the factor i am finding hard to over come. but slowly getting there
 

Farm_Yard_Forex

Corporal
Messages
115
2 & 3 are the hardest and arguably most important aspects to nail down for me. The entry and exit can be tweeks but discipline and approach to money are fundamental personality traits you might need to change.
 
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