How to be a profitable trader?

[Keeper609]

How to be a profitable trader? it's simple, don't start XD more seriously, study and learn in demo mode before any real investment.

 

[Rheometer]

1. Know what you want to trade
2. Learn how to read charts
3. Practice trading
4. Be patient
5. Have a plan

 

[zither]

i fear to lose money than fear missing out, its so sad when your account hit MC.
so, i always try to close the profit trade than waiting to get more profit.

 

[Citigrade]

Dedication, hard work, and discipline will help you become a successful trader. Initially, make sure to spend most of your time honing your skills to get a better understanding of the market. You can't expect success without hard work or discipline.

 

[llJustll]

Start with real money. Demo account does not carry the emotional aspect of trading at all. Start small though, and see how your strategy do. Rinse and repeat if you blew the account

 

[Multisulcate]

• Spend a lot of time learning and
• understanding forex. Practice on a demo trading account for at least 3 months.
• Be clear about your goals as a forex trader.
• Devise a trading plan and strategy that suits your personality and trading style.
• Start small when you start trading on a live account.
• Keep a trading journal.
• Build discipline and try to be consistent.
• Manage your emotions and manage the risk.
• Learn from your mistakes and work hard to become a skilled trader.

 

[Berserker]

To be a successful trader, there isn't really a set of rules or a manual that everyone can follow step by step. Many people start out so ecstatic about the potential to profit in trading but end up losing because they did not adequately prepare. You have to figure out yourself what works for you and what does not! First of all devote time to learning and gaining both theoretical and practical knowledge. Furthermore, being a profitable forex trader requires discipline, objectivity, and trading the right currency pairings that suits your trading style.

 

[royalp12]

Please share your tools and testimonies of how you became a profitable trader?

I trade price action

 

[fade]

as a tip you can find a mentor or also take the time to learn on demo

 

[Agynary]

To be a profitable trader, you must focus on a few things, such as adopting a trading strategy, treating it like a business, learning to establish a methodology based on facts, always employing a stop loss, and taking measures to protect your trading capital.

 

[Mesology]

Be disciplined to trade.
Do not trade with negative emotions like greed or fear.
FOMO is real; you have to identify it and make a distance from it as soon as possible.
Avoid any irresponsible practices at all costs.
You have to adhere to strict financial management and risk management rules.
Do not trade when you do not want to trade.

 

[dark005]

You need to be discipline, patient, use proper risk management for your account size and should always work on your psychology.

 

[Hipparchy]

Don't trade with emotions; think about what you are doing before you start trading.

 

[freemenn]

Work and study hard. There are no other tricks to win ...

 

[Macromania]

Remember, You can win in the market only by your knowledge and hard work. There is no shortcut for easy success in forex trading. All it needs is a deep knowledge and understanding of the market and practise hard.

 

[Shane777]

psy

Please share your tools and testimonies of how you became a profitable trader?

psychology is very important, work on that

 

[Someecat]

There is no quick recipe for being profitable. It is achieved by hard work and discipline over time. Keep learning and practicing more and more.

 

[Angiosperm]

No one can tell you a way to become profitable. You have to find your own way on the basis of what you learn from your own market experience. Take forex trading seriously and you will yourself be able to find the right methods of trading.

 

[Monopial]

All the hard work you do in the forex market pays off in the form of profits. It might take some time for you to get there but once you are there, you will be happy that you took the chance.

 

[Quibble]

To become profitable takes time, just as in any other business. You must approach trading realistically. Don't expect to discover some genius plan and start making money every day. Mastering trading and learning every aspect of the market takes time. Don't worry about making a specific cash amount or percentage; doing so will encourage you to trade even when there are no good opportunities available. Instead, concentrate on learning. Psychology plays a big part in trading. You must first improve your thinking before beginning.