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What are the tools of successful trader???


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Many factors affect the success of trading one of them is the psychological factor of trading. trading using good psychology it will provide maximum benefit. To practice psychology then we could try to trade using small capital  like $ 1 and brokers were comfortable also affect the success of trading

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only the knowledge is the best tools in the forex if we want to earn some profit then use your skill in forex trade .if we have good skill in the forex then we can earn huge profit in the trade but we loss our invest if we have not enough good skills in trade.


 

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Maybe still many trader seeking the best system or profitable ea to making money, and only with learning also practice and always backtesting hence will getting better result in trading, no instant success in every business and all business required strive to achieved succeed, if any trader reading promising offer like a software and or system they need backltest  in demo account, because often as marketting they will attract buyer with something that very ineterested

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only the knowledge is the best tools in the forex if we want to earn some profit then use your skill in forex trade .if we have good skill in the forex then we can earn huge profit in the trade but we loss our invest if we have not enough good skills in trade.

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only the knowledge is the best tools in the forex if we want to earn some profit then use your skill in forex trade .if we have good skill in the forex then we can earn huge profit in the trade but we loss our invest if we have not enough good skills in trade.

I beg to differ, since i see knowledge is not the only tools, it is for me as component that must be placed on the right place. I know knowledge is important but your experience also important, your broker is also important and so on. Knowledge-only won't bring you anywhere or just around your current place, but if you put it in action and gain experience after that you will be different and become better.

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For me, the tools for successful tradings are knowledge and patience. This two are important to reach our goal here in forex trading. don't rush getting huge earning in forex. It takes time and effort before you can get it.

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For me, the tools for successful tradings are knowledge and patience. This two are important to reach our goal here in forex trading. don't rush getting huge earning in forex. It takes time and effort before you can get it.

Yes I think you right because success will never come instantly and requitred processing and progressing and to achieved success also need hardwork and always struggle because forex trading is not easy way to get rich at short time, if trader often rush and they have poor mentality hence one failure might leading them will quit, forex also need high dedication to survive

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In my opinion, knowledge and experience are the key tools for any trader to survive well in Forex market. None robot will help you until you dont learn well with skills. 

I agree knowledge and experience, blend it both and you will get something new, a new way to think and act in foreign exchange. This would contribute to better understanding and better risk management. But to blend this both will take times, so you rarely see a trader become "expert" in less than one or two years.

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The list of typical success traits such as discipline, focus, passion, commitment, determination, and confidence can be found in almost every trading book and, if applied, right can act as a framework for achieving success in all aspects of life.

 

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Successful forex trader must ensure that they have proper knowledge and skills on how to deal in the forex trading market this are just the real case over here as for me i think the best thing for you to do if you want to succeed is work hard and that is all 

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The best tools for all traders sure are set of analytical material and computer not to mention a stable and fast internet connection. If you have it all you have chance to be a successful trader. I think to be a successful trader is not just about tools but your determination and your willingness.

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Tools which you need is just experience and trustable broker. Experience comes from knowledge which refined by traninig in either demo or real account or even through contest. Experience handle emotions, your analytical skills, your critical thinking, your risk management and so on. As for trustable broker this is depend but a trustable broker will give you the best platform and carry your order in the most fair way.

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  • 5 weeks later...

I think as trader must using their brain to learn forex and not use emotion in trading, in forex about psychology trading is very important case in trading, some trader said if psychology trading has more than 80% involved in trading and strong psychology trading will making trader being disciplcine and always trade based on rules

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I think as trader must using their brain to learn forex and not use emotion in trading, in forex about psychology trading is very important case in trading, some trader said if psychology trading has more than 80% involved in trading and strong psychology trading will making trader being disciplcine and always trade based on rules

If that is the case i think it is true for us not to use emotion in trading, but this issue is difficult issue to discuss because of the subjective nature of what we called as psychology. Once you able to cope with all the psychological block when trade , i'm sure you will see difference in your trading and will become more discipline than before.

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The person who want to be successful in trading in the forex business should be able to have patience. Without having enough patience to learn how to trade, the trader cannot be able to trade very well in the forex market and cannot be able to make profit from his or her tradings. Patience is a very important thing for any trader. 

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If that is the case i think it is true for us not to use emotion in trading, but this issue is difficult issue to discuss because of the subjective nature of what we called as psychology. Once you able to cope with all the psychological block when trade , i'm sure you will see difference in your trading and will become more discipline than before.

I think experience will bring us to become more discipline in trading, and might will already familiar with loss and not again trade blindly, will very different since as beginner which still often making mistake because fear and sometime greedy, geting easy profit it's sometime    leading to become over confident and this is not good in trading

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The tools for traders succession are courage, intelligent, confidence and also always be cautios with the market by keep thinking forward. Never regret your loss instead learning from that loss to become better trader in future. The rest is common thing such as fast and stable internet connection also some time to trade.

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  • 3 years later...

A successful trader must be patient enough without having patience he cannot run long term in the forex trading field learning and technical knowledge is a must keep an eye on the market situation and create goals, track your goals and stick to them with patience 

 

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