Forex Trading Education : forex morning trade review

 How hard is it to make money in the Forex market? How long does it take to survive in the Forex market? These and other important aspects of the trade are discussed in this article.

Forex market trading has many advantages over other financial markets, the most important of which are: high liquidity, 24-hour market, better execution, and others. Traders and investors see the forex market as a new speculation or diversified opportunity because of these benefits. Does this mean that it is easy to make money in the Forex market? not at all.

Forex brokers agree that 90 traders lose money, 5 traders lose intermittently and only 5 of them achieve consistent profitable results. With these statistics, I don't find trading easy. But, is it hard to master another endeavor? I don't think so, consider musicians, writers, or even other businesses, the success rate is almost the same, there's a whole bunch of them who never got to the top.

Now that we know that it is not easy to achieve consistently profitable results, one question must be asked, why do some traders succeed while others fail to trade successfully in the Forex market? There is no hard answer to this question or any prescription that can be followed to achieve lasting profitable results. What we do know is that traders who reach the top think differently. Well, they don't follow the sheep, they are a free part of the sheep.

Forex Trading Education : forex morning trade review

Here are some of the things that set Top Traders apart:

Education: They are very educated in this matter. They have chosen to learn every other important aspect of trade. The best forex traders know that every trade is a learning lesson. They humbly approach the Forex market, otherwise, the market will prove them wrong.

Forex Trading System: Top traders have a Forex trading system. They have the discipline to follow it strictly because they know that only those trades that point to their system have a higher success rate.

Price behavior: They have incorporated price behavior into their trading system. They know that price is the last word in action.

Money Management: Avoiding the risk of ruin is the main theme of the best traders. However, you cannot succeed without funds in your trading account.

Business Psychology: They are aware of every psychological problem that affects business decisions. They accept the fact that every individual trade has two possible outcomes, not just a winner.

Forex Trading Education : forex morning trade review

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These, among others, are the most important factors influencing the success rate of Forex traders.

Now we know that making money in the Forex market is not easy, but it is possible. We also discussed the most important factors that affect the success rate of Forex traders. But, how long does it take to achieve consistently profitable results? It varies from trader to trader. For some, it may take a lifetime, and still not get the desired results, for some others, some years are enough to achieve consistently profitable results. The answer to this question may be different, but what I want to make clear here is that successful trading is a process, not something you can do in a short time.

Successfully trading is not an easy task. This is a process and can take years to achieve the desired results. There are a few things though that every trader should keep in mind that can speed up the process.


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