How Do I Know I Master Forex Trading

[moonchild]

If you have been trading for a while and you have started making profits and also you are dealing with less draw downs, and maybe you have a solid strategy, these are all goals that any beginner trader should be able to master but this article is going to be discussing some certain skills that will help you to understand if you have mastered the art of trading or you have a long way to go.

1) You can control your emotions: If you can control your emotions and not trade base on pure impulse then you are definitely on your way of becoming profitable, this means you only trade when you see a clear pattern.

2) You measure your risk in any trade: This means your risk management skill is top notch, you always measure the amount you are willing to risk and make peace with that, you don't quit trades you wait for either TP or SL.

3) You don't worry about news: This might be a bit controversial but a master trader don't worry about fundamentals he just look at the charts and make his decisions, you have to rely on candlesticks and patterns to navigate the market and make trading decisions.

 

[King bell]

There's no easy answer to this question. mastering forex trading requires a lot of dedication, hard work and determination.

That said, there are a few key indicators that can give you a good idea of how well you're doing. One is how consistently you're able to make profit over time. If you're able to make a profit month after month, then you're probably doing pretty well.

Another key indicator is how well you manage risk. If you're able to keep your losses small while letting your profits run, then you're doing a good job of managing risk.

Of course, there's no guarantee that you'll ever master forex trading. But if you can show consistent profitability and good risk management, then you're probably on the right track.

 

[FXOchartist]

All traders join the forex business with the goal of making money and wanting to become master. Here I just want to talk if each trader has their own skills and knowledge, where trading forex is not only about how to analyze the market-based trading system but also involved psychology aspect of trading. You don't become a master if can't control your own emotion. The big enemy in trading is emotion because emotion could lead traders to make reckless decisions without paying attention to the risk level.

When traders already become masters, choosing a broker is important to understand the trading conditions, spread, withdrawal process, etc. Grateful along using FXOpen broker, withdrawal process always smoothly to processed.

 

[Sotherefore]

People can be able to control their emotion perfectly if they are trading a demo account and this decision should not be based on those who are trading demo account because trading of demo account is completely different from trading live trading and you will come to understand the reality of trading when you move into live trading..

When I was still learning how to trade which I am still doing currently , I traded a demo account and I do made progress with it but immediately I have to fund my account with smaller fee to start trading , that is when I understand that in terms of emotional control I was not ready to trade a live account. I was just trading out of the fact that I am just interested to make profit even when I did not see a clear indication that I should enter the market at that period of time.

 

[eldavis]

Though all these are signs that you have matured when it comes to forex trading but personally i feel no one can fully master forex trading, even experts make mistakes and loose some trades. When it comes to forex trading, there is always something to learn each day, which means the learning process never ends. You keep learning and growing.

 

[Asahi]

Your daily profit won’t be same and you shouldn’t get tensed about it more. So, you should nurture a jolly mind and earn knowledge more and more. Otherwise, you won’t find satisfaction even if you earn millions of dollars. Eurotrader allows all investors with a whopping 111% deposit bonus.

 

[Ivo Zetticci]

I always recommend traders to go for ECN brokers because it’s a good option for them than the remaining twos. Select such an ECN broker that meets your trading requirements and allows you with high security of funding. Eurotrader is a regulated ECN broker.

 

[Jack Reacher]

Brokers with bogus certification are harmful for traders. To find out the best trading broker, first of all you have to check the broker’s certification because it will let you know whether the broker is regulated or not. Eurotrader is a recognized and certified trading broker.

 

[SolarCrook]

A few days or weeks is not enough time to master forex. A trader continues to learn and gain new knowledge about the forex market while simultaneously engaging in trading. Even a trader with a solid strategy and plan can lose a trade due to the forex market's extreme volatility and unpredictability. At any age or stage, it's crucial that you maintain a learning attitude.

 

[Dita Walczak]

Trade when the market breaks out a range because the market has some sensitive and strategic points where if you strike at the right time, you can gain more profit. FXOpulence provides traders with a reliable and easy-to-operate trading platform for better trading.