fadly fahmi
New Member
To be successful in trading cannot be obtained in an instant. The fact is that 95% of traders experience losses in their trading activities, especially for beginners who are just a little familiar with forex and don't have sufficient experience. Even so, not a few traders who have been in the world of forex trading for a long time still end up with an MC (margin call) in each trading session because they don't take lessons and rarely practice besides the many other variables.
In my opinion there are 3 basic things to be successful in forex trading, namely:
1. ability to analyze the market
There are 2 types of Forex market analysis namely technical analysis and fundamental analysis. Technical Analysis relies solely on price charts whereas Fundamental Analysis explains the basics regarding the economic factors that make prices move as seen on the charts.
2. money management skills (MM)
This ability relates to how to manage capital and how to minimize risk (risk management).
3. self-control ability (psychology trading)
This ability relates to emotional regulation, discipline, patience, non-greed and calm in trading activities.
In my opinion there are 3 basic things to be successful in forex trading, namely:
1. ability to analyze the market
There are 2 types of Forex market analysis namely technical analysis and fundamental analysis. Technical Analysis relies solely on price charts whereas Fundamental Analysis explains the basics regarding the economic factors that make prices move as seen on the charts.
2. money management skills (MM)
This ability relates to how to manage capital and how to minimize risk (risk management).
3. self-control ability (psychology trading)
This ability relates to emotional regulation, discipline, patience, non-greed and calm in trading activities.