tips for become a good trader?

1.Always have a trading strategy in place.

2.Consider trading as a business.

3. Make use of a demo account.

4.Secure Your Trading Funds.

5. Research the Markets

 

Here some tips i can offer to become a good trader:
1. Developing a Plan
2. Cut Your Losses Early
3. Applying Risk Management Strategy
4. Focusing on a few Trading Tools

 

Avoid trade blindly, and keep on track to follow trading rules, if using the indicator, keep in mind indicator is only a helpful tool. no perfect indicator, understand your risk and don't be greedy, because you can't control the market.

 

I used the following key tips to enhance my trading skills:

• Always have a strategy in place.

• Consistency is important.

• Only take risks that you can afford.

• Use a stop loss at all times.

 

One tip I would like to give you is, don’t be gullible. Do your own research, have your own trading experience and learn from the mistakes you did. That’s how you will get to know forex trading properly.

 

Success won’t come to you overnight, but you will have to go through a decent amount of struggle to become successful. Make sure to keep your concepts about forex trading clear and have a good practice in a demo account. Also, you have to remain patient and emotionally strong because things might go topsy turvy in forex trading. Just stick to the process of trading without worrying about profits or losses and you’ll do just fine.

 

1. Test constantly to find out what produces best profits.

2. Understand/trade market volatility and ranges.

3. Avoid inside prior day ranges.

4. Trade frequently, with tiny stops.

5. Develop and follow rules.

 

Is there any mistake you can recall you made when you were a beginner?

 

Stick to what you have analysed and planned. It’s not just entering the market but also exiting the market at the right time. Don’t let any distractions make you make changes in your trading plan. Practice enough on your demo account so that you know which way to go.

 

Don’t make choices and set expectations until you know what forex trading is. Keep a learning attitude because that’s what you will be doing throughout. Learn risk management and use your money wisely.