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- How I Invested One Year in Becoming a Profitable Forex Trader and Then Stopped Trading Completely
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How to become rich in Forex? - Trading Tools - General - MQL5 programming forum - Page 3
Roda Angelynne Lee 03 Feb John Jerome Arceo 26 Jan Christopher Dacuba 21 Jan Marievic Tecson 11 Jan Jan Philip 21 Dec Marvin Abella 14 Dec Mj Dimayuga 30 Nov Samuel Siong Mayos jr 24 Nov Kristina 26 Oct Vincent Antonio 19 Oct Jeffrey Capistrano 05 Jun Jhoanne Gacutan 26 May Mario Calatan 26 May Vincent Romar Sering 28 Apr Cris Paller 18 Feb Dave Algreg 05 Feb Ted Osias Vendiola 06 Jan Lea Aicel Laugan 07 Dec Jie Lyn Lagdamen 06 Dec Lea Aicel Laugan 06 Dec Joan Viado 27 Oct Samantha Lee 25 Oct Nitson Itliong 16 Oct Jielyn SAri 29 Sep Chris Avila 23 Sep Jimmelyn Grace Paniza 10 Sep Adonis Deruta 10 Sep All successful Forex traders know when to walk away and take a break.
Those who are truly passionate about trading Forex know how hard it can be sometimes to walk away from the market. Walking away can be especially difficult following a trade. This is because our emotions are running high and often get the best of us. It feels like things are finally starting to click. Walking away at this time can be tough. The natural tendency after a winning trade is to continue trading. Taking a break after a win will allow your emotions to settle.
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So the next time you have a winning trade, pat yourself on the back and then walk away. I would immediately start going through all my charts looking for a new setup with the intent of recovering what I just lost. Instead of seeing a loss as a reason to hop back in the market, take it as a signal to look at what you could have done differently. Top Forex traders know this and have learned how to control these emotions. The very first step in controlling your emotions involves walking away for a bit.
Not all brokers offer New York close charts, but you can go here to get access to the same style charts I use. This is when I do the bulk of my analysis anyway since I trade the daily time frame, so it makes sense to take a breather until then. They do it because it sells.
How I Invested One Year in Becoming a Profitable Forex Trader and Then Stopped Trading Completely
Successful Forex traders know this. The only way you can fail at becoming a successful Forex trader is if you give up.
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This sounds obvious, but it amazes me how often I see perseverance and grit left off the list of reasons why a certain trader became successful. That brings us back to the first section of this post where I mentioned passion.
You must have a burning desire to want to succeed as a trader. Not because you want more money, but because you love trading. Sure, there are various tips that can help you, but those who have achieved consistent profits are not untouchable. Embrace the journey, because there is no finish line. Even those who have achieved consistent profits have more to learn. I think the better question is: can you become consistently profitable trading Forex? The answer is a resounding, yes!
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The key is to focus on the process and forget about trying to strike it rich. Focus on the process, stay disciplined, and the profits will follow. For instance, is a billionaire who works 16 hour days and is generally unhappy more successful than someone who makes six figures a year but only works 6 hours a day and loves what they do? The second individual is more successful in my opinion. Did any of the traits above come as a surprise to you?
Can you think of an attribute of successful Forex traders I left out? Save my name, email, and website in this browser for the next time I comment. Thank you very much Justin this is great staff picked up a lot in the easiest way possible thanks to this article!!! Dr Bennett Sir I call you Dr because whenever I read your article something get cured and I become more healthier trader. Your teaching are life changing and bank account changing. I love you man. God bless you. Wow, thanks for the kind words. And from my perspective, comments like yours keep me going as running a website this large is no easy task.
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Being a beginner at anything means you have a steep learning curve ahead of you. Trading is certainly no exception. Instead, hone in on one thing at a time. Become a master at identifying key levels. Then study pin bars until you know them inside and out. Trying to learn too much at one time is a recipe for disaster. I just want to say a big thank you to you Justin.
Can forex trading make you rich?
I am making amends and soon will share my story. God bless bro. You making an impact in the way I trade. Keep the good work. Thanks for the valuable summary. The only good thing I dare to say great of the 9 is never give up. Getting the other 8 slowly but surely. Now, the more I trade the more I like myself because I am honest to face myself. Hey Justin, can you recommend trading books to read! Also, thanks for the Market Wizard recommendation!
Thanks a lot justin for your insight and posts. Paper trading, utilizing very small lots, a big desire to learn from your mistakes and sticking to the same strategy and improving on its execution and management skills are key ingredients of success. Coach what about the desire for more informative material not just irrelevant information that is up on google and other sites in the internet? I learned trading Forex at Online Trading Academy. Do you have any opinion about them and their method? Thank you!
Thank you Mr Bennett, I always love your posts and set up because no matter how experience you are, you will surely lean and gained from the post. Thanks Justin for sharing your thoughts and daily setups…. Thank you Justin, I read the article and I see many things reflected from the experience I have had in these three years operating, I follow it a year ago and my way of thinking and operating has taken a total turn and most importantly productive.
Thank you illustrious for your valuable advice and teachings. Translated by Google. Very good write-ups. I am glad I had overcome some of the attributes that you mentioned. My perseverance, passion and determination have assisted me a lot.