👓 Can I Become a Successful Forex Trader?
Can I Become a Successful Forex Trader? 👓
Who is the Trader?
- Scalping Trader
- Positional Trader
- Breakout Trader
Key Parameters for Forex Trader
Optimal Trading Lot Size
Use of Stop Loss
Against Market Trade
Try to Buy Where other Traders Buy and Try to Sell Where other Traders Sell.
Kill Wrong Trade
Risk To Reward Ratio
Stop Revenge Trading
Trade "By Mind" and not "For Mind".
Faith On Trading Signal Groups
Kindly do your own research before putting actual trade if you are using any Trading Signal Group or Premium Service. Because No one can Guaranty 100% for "Buy" and "Sell".
Practice New Strategy in Demo Account First
If you learn New Trading Strategy and you want to Implement it. Kindly practice this strategy in Demo Account First. Because the Same Strategy did not work on each market pair. Some Strategy works "In-Session Timing" and some works "Out-Session Timing".
Trading Robot Extensive Checkup
If you have created or purchased a Trading Robot or Expert Advisor. Do not rely blindly on Historic Data Checkup. Kindly run The Trading Robot on Demo Account First for at least a week. before running on a live account. Use the Desired settings and account balance for Robot Trading as per the direction given by the developer of EA (Expert Advisor).
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You can build yourself as a successful Trader by the practice of Trading Psychology, Money Management, and the Expertise of Any Profitable Trading Strategy easily.