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Things Successful Forex Traders Do That You Probably Ignored

Discussion in 'Beginners Bootcamp' started by NicholasM, Feb 17, 2015.

  1. William Barnes

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    Thanks for a nice thread and detailed forex trading discussion on the traits of successful forex traders. However, with the passage of time, traders get to know it very well that forex is a long desired process not any project if he wants to take trading as profession. It is the fundamental rules of finance and investment that traders should try to invest in portfolios so that they can protect their wealth position against unwanted risk of price changes.

    Prior to creating the portfolio a right mind set is required to accept any situation of the market since everyone should know the fact that no one can ensure profit always. Nevertheless, we can’t deny the reality that forex is a business of currencies so we should maintain systematic evaluation of business in order to monitor the performance.
     
  2. Melvin Leon

    Melvin Leon Recruit

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    Successful traders are extremely disciplined. This is the only quality all they have. No matter which strategy or time frame you use, it is the discipline that makes you successful. And it takes time to be disciplined. Actually I do not ignore this but not being able to be fully disciplined.
     
  3. Morten

    Morten Corporal

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    Never invest your all the money in the single trade because if you lose than you lose all the money you have. Successful traders never put all the eggs in one basket. They invest their money in different bussines so that if one bussiness failed than they have the chance to recover their loss from other bussiness they have.
     
  4. Addam

    Addam Recruit

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    I think successful traders stick to the basics which is the key to their success. many traders, who lose money, try to do a lot of things at a single time which turn the whole scenario complex. It makes it really uncomfortable for them to trade. Conclusively, you need to stay as simple as possible.
     
  5. nahiyar

    nahiyar Private, 1st Class

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    It is obvious when one find success use certain strategy again and again they are really stick to some rules they find successful . Simpleness in trading makes them easy because they can follow their own plan with comfort not put them in difficult strategies that will confuse. However they need to change their sticky nature due to changing situation of market.
     
  6. jonas98

    jonas98 Highly Suspicious Person

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    I believe that the order in all the operations that you do, a constant formation as market analysis make sure you have success
     
  7. Ken Smith

    Ken Smith Private

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    Successful traders have well defined trading plan. Most importantly they know what they are doing. They have back up plan. They clearly know their risk reward ratio and winning ratio of their trading strategy. We are not that much well defined. Actually it needs time. And we are not ready to give that time. We want everything quickly.
     
  8. Desacete

    Desacete Recruit

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    Successful traders have their own and most unique qualities. They have the strong mentality and desciplined approach towards their each and every trade. They never get panic but always beleive in their strategy. Do you believe in your strategy?
     
  9. maria_taylor

    maria_taylor Recruit

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    You are absolutely right, it is the golden rule of trading that "Don't put your all eggs in one basket" . This is followed by every successful trader. Along with this they are disciplined, patient, follow proper strategies and keep themselves updated with the market conditions.
     
  10. Aaron Barton

    Aaron Barton Recruit

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    Yes, All the successful traders on the planet are disciplined traders. They may have distinctive trading techniques however one thing is normal which is they are restrained. Taking in the market and being control is trading is the way to accomplishment here.
     

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