How to become a successful trader?

Discussion in 'Forex' started by Coner1980, Jan 21, 2021.

  1. padutrader

    padutrader

    now that book even i can afford
     
    #81     Jan 25, 2021
  2. padutrader

    padutrader

    smart to quit
     
    #82     Jan 25, 2021
  3. padutrader

    padutrader

    yeah.....i would like that.......find God....
     
    #83     Jan 25, 2021
  4. If you're a price action day trader, I think trading on a vps is essential. Too often new traders are only trading on their home computers. They sit in front of the computer all day waiting for their perfect entry rules. After waiting for hours, they'll break their rules and force enter into a trade that they don't feel confident about. This is a recipe for losing trades.

    Instead a vps is the only way to always be connected to the market. Basically you run your trading software on a server that is always on, instead of a home computer. Then you can connect to the server with your home computer, or with your mobile phone. Since you can use your phone to enter into trades, you no longer force trades and can go about your day, just occasionally checking your phone for setups. Them when you see the market moving in a way you like, focus on it for longer and then enter the trade using your phone.

    There's lots of vps options, but personally I like NinjaMobileTrader.com because of the low latency to exchanges and cheap hosting plans.
     
    #84     Jan 25, 2021
  5. Please explain how "consultant for hire" is applicable to trading.... other than to teach someone to trade... aka "learn Technical Analysis". I don't see it.
     
    #85     Jan 26, 2021
  6. 2xtrader

    2xtrader

    i don’t try and muddy the waters with razzle dazzle plays when investing. I look for 30% roi and go from there.

    replace consultant for hire with financial planner or anyone you pay to tell you what’s best for you.
     
    #86     Jan 26, 2021
  7. Again... has nothing to do with Technical Analysis in trading. Your post would be more appropriate in some other thread.
     
    #87     Jan 26, 2021
  8. 2xtrader

    2xtrader

    how to become a succesful trader?

    don't overanalyze, that was my $.02

    thanks for the feedback
     
    #88     Jan 26, 2021
  9. Learn about risk management practices, practice on a demo account, be patient and consistent in learning.
     
    #89     Jan 27, 2021
  10. As a profitable trader myself (last year I had a 36% growth on the account), I'd say biggest thing is Risk Management, Patience and having a solid system you've back tested. Also trade PRICE ACTION. I personally don't know anyone that makes money from retail trading patterns H&S To, Bull Flag etc etc. Just my two cents have happy to share more advice via DMs
     
    #90     Jan 27, 2021