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The perfect criteria for the professional trader
Vicky MackleanParticipantVicky Macklean 20 February 2018 at 12:40 #6541
People do not have a mindset when they trade in Forex. They think they will start having strategy after they have started their trading and this is where they get the market wrong. If you want to trade in Forex, you have set your trading criteria’s. These criteria are the places where you will focus on your trades. You cannot trade in all the markets in Forex but you can know what is happening in your market. You also cannot trade with the all the strategies in the market but you can try them all one by one. If you have set your trading criteria, you will know what strategies are important to you and what strategies you should not follow in Forex. This article will tell you how you can set your trading criteria to trade the market successfully in Forex.
If you truly consider trading as your full-time profession, you need to change lots of things. Starting from your daily habit, every detail counts when it comes to currency trading profession. All the professional traders in the real trading community always suggest the novice traders trade the market with the professional brokerage firm. Some retail traders might say the charge and fees of the high-class broker are extremely high but this not exactly true. If you do some extensive research you will find a much high-class broker willing to offer your premium trading environment at low cost. So why do you need to high-class broker? This is for the safety of your trading fund and professional trading environment.
Without having access to the professional trading environment it’s almost impossible for a certain individual to make a profit in the long run. But if know the technical and fundamental analysis it won’t be a difficult task to deal with the complex nature of this market. Try to gain access to the best social trading platform so that you can understand how the pro traders make a consistent profit. In fact, the expert traders always follow a paper-based trading journal so that they can easily identify their trading mistake.
Are you trading for part time full time?
The first thing to know for setting the criteria in your trading is if you will trade the market for part time or full time. There are many people who trade in Forex for part-time. They trade part-time because they know the risks, they have other jobs and they do not think they can trade the market for the full time. It takes many years before you can trade this market for the full time. If you are to trade for the part-time, you have to set your trading mind and trading strategy as a part trader. When the full-time traders think they will trade the market with the long-term strategy, you cannot do that if you are trading the market for the part-time. You have to use short-term strategy and use your time carefully to make the most out of your trading.
Paying for professional courses
Professional courses are life changes. Many people did not know how they could trade in Forex but they took these courses and their lives have radically changed. Now they are trading the market like professionals and making money. If you want to set your criteria in Forex, this should be a top priority in your criteria. A good professional trader can show you how to make the money and also trading in markets without losing. You will lose some trades but they make a very good winning money.
The position sizes, the leverages, the strategies
These are the things that you should set in your trading plans. The trading position size is important and using leverage without knowing can lose your money. Know the strategies and use that is best for you.
LogaterParticipantLogater 29 March 2018 at 19:26 #6581
Professional trades enter the market with a proper planning and technique. They never repeat the mistakes and learn from their each and every trade. They also trade with proper risk management. The mentality and psychology of the professional traders makes them successful.
teddiParticipantteddi 30 April 2018 at 20:35 #6593
Professional trading is not as easy as one thinks. It requires a lot of hard work and dedication to become a profitable trader. All the experienced traders have some distinguishing qualities which make them successful. The psychological strength is one the best quality of the professional traders.
NosfrParticipantNosfr 28 June 2018 at 14:17 #6636
I am in favor of full time trading if you are taking it as a serious job and source of income. Short-term trading is much more risky option as well as compared to other forms. You have to set goals in order to achieve most here on the currency markets!
- This reply was modified 1 month, 2 weeks ago by Nosfr.
GarearaeParticipantGarearae 31 July 2018 at 17:31 #6674
Hello everyone! I think we traders need to think well before taking any decision as there is no choice after taking a decision. You can not reverse your decision on the forex market as it does not stop for anyone. So, go with the right flow with good profits. Thanks!
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