Become a Better Trader

[Taskin Ahmed 10]

I am sure, learning is the best way to improve trading skilled. This is way, still I'm trying to improve my trading accuracy by demo practicing and reading trading eBook.

[spareappeal 10]

thanks for the advise ... will surely keep this in mind

[SurtiTrader 10]

The best way to become a better trader is to analyze the market every time and take decision accordingly.

[Gemma 10]

Becoming a good Forex trader isn't an easy task. I too am still trying. After many struggles I am becoming a good trader. My struggles and fails actually helped a lot. Only thing I did correct was not giving up no matter what.

[SurtiTrader 10]

Good Gemma. Becoming a better trader is a very long process and need lot of practicing and struggle. Keep it up you will also become a great trader someday.

[CapitalBosters 10]

To become a better trader you must improve your awareness and analytical skills.

 

Commodity Tips

[SurtiTrader 10]

To become a better trader you must improve your awareness and analytical skills.

 

Commodity Tips

 

Yes, you are right you should improve your market analysis skills and you should also learn about trading through Demo account and than can enter into the real world of Forex.

[barako 10]

another thing that might seem simple but i hope people or traders should be more aware off, that quitters never won anything, so dont give up. as long as you push forward you are bond to improve one way or another

[ankita 10]

The best trader is the one who selects best broker according to me. I have invested much in various account and trusted many brokers but I never earned much as I do with my present broker.

[trix 10]

Selecting best broker is not an easy thing specially when we have so many brokers opening these days. We have to find the one that suits our style.

[Tradingtips_4 10]

I think having patience and constant art of learning is the key. Watch, observe, learn, try and relearn. These are the mantras for the newbies.

Gud Luck

[Dahan 10]

Keep learning, must know that forex trading is one long term business, temporary lost is the foundation of future success. So survival and learning are top important things for new ones.

[Dahan 10]

Keep learning, there are always update about forex trading technology and knowledge etc, but keep safe and learning should be top objective for new ones.

[Dahan 10]

In my opinion, successful trade need rich experience and learn lessons from past failure, it's impossible for new ones to understand market trend and predict movement correctly.

[divyanshisharma 2]

1. Make a resolution to learn. Action follows intention, so take your first step toward trading by making a resolution to learn how to trade stocks. ...
2. Do your research. ...
3. Get in “back to school” mode. ...
4. Set goals. ...
5. Seek guidance. ...
6. Start trading. ...
7. Evaluate your progress. ...
8. Cultivate good habits.

[CrazyCzarina 17]

Traders must have an edge to be profitable. The traders that have discipline, have done their homework about historical price action, and stay in control of their emotions will make money.

[anthonyconstantinou 0]

On 1/17/2014 at 9:24 PM, Mysticforex said:

This is really meant to be a "Mindset" or in the Psychology Thread, but I was not sure if any beginners would see it there.

 

I am hoping other experienced traders will weigh in with a tip or two.

 

Never trade when you are sick, tired, or in an emotional funk.

Always, always, always use a stop.

Don't stress about trades you missed. You can't lose what you never had.

This is simply one part you have defined here. lack of knowledge and awareness is also another part than needs to be consider before starting trading. 

[CrazyCzarina 17]

A stressful person can trade very roughly so it is good to avoid trading during your illness. Totally agree, avoid trading is better option then facing losses.

[mukti 0]

8 Ways To Become A Better Trader

1. The desire to be a better trader. ...
2. Brush up on trading basics. ...
3. Get a mentor, and meet with them frequently. ...
4. Diversify. ...
5. View mistakes as an opportunity to improve. ...
6. Stay updated on the news. ...
7. Emulate traders who are better than you. ...
8. Don't shy away from conflict.

[CrazyCzarina 17]

Learning can help many traders to be good at their trading life. The most important is yourself improvement that how you are surviving this business and how you are going to be here.

[Stan1 1]

On 1/21/2014 at 6:28 PM, MidKnight said:

Develop a plan.

As one goes on their trading development journey and they are exploring a variety of markets, timeframes, and methodolgies - you'll need to develop a plan. The plan doesn't have to be some objective extremely specific set of rules. It can be a loose set of guidelines that makes sense to you that gets refined over time with your experience. The goal is to start acting consistently so you can get consistent results.

There will probably be times that you violate the plan for whatever reason and I think that is normal, especially for more discretionary plans. But the key is to consciously violate it rather than getting lost in the throws of the market or in ones emotions. If you are consciously violating the plan you will note it in your daily review and over time you will collect enough data that may or may not indicate that the violation improves your plan.

Develop a plan today.

This is the key component. If you have a good trading plan, while working when sick isn't advisable, you should still be make the same trades as you would if you weren't sick. Your mental judgement shouldn't be impaired to a degree that you won't follow your plan, if so then yeah, don't work.

[fxeconomist 11]

How to develop correct and risk conservative trading plan? What are the main pillars that any trading plan should rest upon? I just don't know where to start, just scalping with Hotforex making 30-40 dollars daily. But frankly I want more. 

[CrazyCzarina 17]

Becoming a good trader is all you need to pertain good skills and knowledge which comes via practice and learning from the expert traders. 

[fxeconomist 11]

Yes, you are right you should improve your market analysis skills and you should also learn how to trade using demo account for example from Hotforex. This should help you  to enter into the real world of Forex

[CrazyCzarina 17]

Becoming a better trader all comes from experience and patience for the reward to be received against the risk taken. Trader should have learning attitude and should try new things in market for becoming successful trader.