How to become a sophisticated forex trader? | Trading Pit | Forum

 
You must be logged in to post Login Register


Register? | Lost Your Password?

Search Forums:


 






Minimum search word length is 4 characters – Maximum search word length is 84 characters
Wildcard Usage:
*  matches any number of characters    %  matches exactly one character

How to become a sophisticated forex trader?

No Tags
UserPost

2:56 am
July 30, 2013


JHONTY FX

Member

posts 27

The best way to become a sophisticated AND professional Forex trader is to seek the best Forex education possible. I'm a full time Forex trader and I have found that the following are the most important factors that affect a Forex trader's success:

1) Money management: You must use strict money management and that makes sense. For example only use risk to reward ratios that are equal or higher than 2:1 

2) Use a trading plan: a trading plan is your road-map to trading success, without one you are going to have a hard time as a trader.

3) Learn about your trading style and personality: every person is different and what works for someone might not work for you. You need to find trading strategies that will fit your trading style and unique financial situation.

4) Be a student: all the successful Forex traders I know ( including me) are always learning something new about the markets and so should you! 

No Tags

About the S M A R T P I P . C O M Forum

Forum Timezone: UTC -5

Most Users Ever Online: 18

Currently Online:
1 Guest

Currently Browsing this Topic:
1 Guest

Forum Stats:

Groups: 4
Forums: 6
Topics: 501
Posts: 777

Membership:

There are 5760 Members

There is 1 Admin

Top Posters:

Andrews Mentro – 126
Liz Gilbert – 91
Dirk Wellham – 81
Peter Toohey – 46
Jamal Mia – 42
Muhammad Perkins – 39

Recent New Members: Marcus North, Shaun Graf, Mumin Elmas, Greg Sharpe, Dirk Wellham, nazarudin nasib

Administrators: FXChris (80 Posts)