Follow price direction
Problems start when you become successful (advice needed) 19 replies
Successful Manual System - EA Needed Please 19 replies
Honest answers please! Are you successful trading on Forex or not? 102 replies
My charts refuse to open themselves! Inspiration from successful traders needed 7 replies
My charts refuse to open themselves! Inspiration from successful traders needed 3 replies
DislikedTo be successful in this vicious market, you need the following .. 1) at least $2000 in your account 2) money management . with your 2k, do not trade more than .2 lot which is 2 dollars per pip. better to break it down to .02 x 10 times and trade at fib levels. 3) discipline, discipline and more discipline. do not overtrade and do not over leverage. 4) have a lot of patience to let the trade reach your target levels. ( levels can be obtained by fibonacci). 5) learn at least the basics of Elliot wave and fibonacci ratios else follow top EW traders...Ignored
Disliked{quote} PS... don't DEMO I know, it may sound crazy, but if the trader does DEMO, it's because he is familiarizing himself to the platform, nothing else - If you DEMO to "trade", the psychology when trading with REAL money will be the opposite of what you did on the DEMO. But not only that the real-time execution, widening spreads, lags of data on fast market - slippages, and cancelling your profits will be much different -Ignored
DislikedWhat is needed to be successful in forex trading I underlined successful in your thread title because success is subjective. Some people trade forex as a side job, some trade it to make a living, some are money managers and some are investors ... etc. Required balance for each group vary, and so is risk vs returns. Which type of trader you want to become ? And how much monthly return is considered success for you ?Ignored
Disliked{quote} A pair of eyes. So you can buy when price goes up and sell when price goes down.Ignored