In this article we want to speak about the secrets of successful Forex trading and use these secrets in our forex trading every day. Let’s start
It’s a business, not an entertainment
someone see trading and Forex market like a game, it’s attractive and wonderful for them. When they trade as if they play a game on their phone. They addict to trade, like someone who addict to game, for example football game addiction, or addiction to drug or party. Dears, I know it’s excitement. I know you can get millions$ with one click. I know it’s wonderful and has the greatest opportunity to get rich like warren buffet or others. But it’s a business. It’s not a game.
Treat it like a business.
For example , when you want to start a business and register a company, How do you treat? It’s not fun for you, it’s very serious. You set goal for this, set plan, set strategy, specify some threatens and opportunities. You try for your goals everyday , 24 hours, 7 days of a week. You try to learn more, become more, you wake up at 6 am and sleep at 12 pm.
But when we think about successful Forex trading, we want to achieve one million $ in one night. Without any efforts, any learning, any goals, any plan, any vision and any experience. Then, treat it like a business. To be successful in Forex trading, we just do somethings that we do for become successful in other businesses , or other aspect of life.
be successful Forex trader, just specify a goal
when you want to travel, you set your destiny. Or when you want to start a way, you specify the end. Not? Yes it’s undoubtable, undeniable. You have to have a goal to reach it. If you don’t have a goal, How can you draw your way? How can you recognize your road, because you don’t know your destiny.
To be successful trader, set your goal. Then I tell you, how can you reach your goal? Do you want to get millions $ in one day? Good , please give me time.
For example, write into your dream’s note book that. my goals in Forex trading: I have 2 million$ monthly income in Forex market. It’s breathtaking. 2 millions $ monthly income. But when? Today ? tomorrow ? next week? Next month? Next year or 5 years later. When do you want to be a successful Forex trader?
For example, my goal is that to become a successful Forex trader with 2 million$ monthly income in 2022 January. It’s more rational because you have a time to become successful. Good, we specified our goal, it’s the most crucial matters that we had to do this. But goal is not enough, why? Because you have a plan to reach your goals. Now you just know the destiny. But we have to specify a way Finding a way to be a successful Forex trader
Have a plan
All successes have a reason, all successful people have some habits, have some attitudes, some beliefs. Please imagine an athlete. He exercises every day, he wakes up at morning and works on himself, because he has a goal, he has a dream, and he need a plan. Like it, we have to devise a plan, do it more and more every day. Like the best successful Forex traders around the world.
Good, but you think about it, How? How can I plan my days and months to become the best trader and get huge income? Think about it, how? I tell you. As a trader, we have to behave like a professional. Please tell me:
How do you start your day as a trader?
‘ Your job in not to trade and make money, You just find the best opportunity to trade, and money will come’. Then, as a trader your main responsibility is seeking the best opportunity to trade.
For example, I wake up at 7 GMT, after breakfast:
- I check the trend of markets on yesterday, for example if I buy Gold, I check it and devise a plan for its future and what should I do for this trade.
In another word, I reorganize my plan:
- after first step, I read a book or an article about market, economy, analysis and etc.. because it helps me to be better.
There are lots of things that we don’t know. we can’t know market well, and predict it. But we can know ourselves, and prepare for all scenario that markets do.
Success = preparation + opportunity
in forex and other financial markets, there were lots of successful traders who were ready and saw the opportunity. Because forex markets have outstanding opportunities, But we must prepare for them!
- Third step that I have is analysis, my job is analysis data of all companies and economies.
I analyze charts, trends, economic indicators, monetary policies, fiscal policies, interest rates and everything that you think about it. Why?
Because it’s my job. My duty. If I don’t analyze data and just trade like a gambler, what’s the probability of my success? Is it possible? Obviously not.
Warren buffet, the best investor that you can find, analyze the financial reports and income statements of All US and Foreign companies every day to find the best opportunity to trade and invest. It’s our job. It’s necessary.
make a plan for your progress , for your learning
to be the best and most successful Forex trader who has been forever. You MUST have a plan for your learning. for instance, You have to learn technical analysis, fundamental analysis, risk management, economy and.. then you have to do this every day, without stop, constantly. I do this myself every day, I analyze data, check news, read income statements , find the bests, learn new thing and Now I’m a successful Forex trader.
As I told you in last phrase, learning is the key point to become the best in Forex trading.
‘Don’t stop learning’
Forex and other financial markets are flexible, there are no fix rules and formula to be successful. We can’t forecast market exactly, but: How do the most successful Forex traders invest and trade? They improve their knowledge , they analyze, control their emotions, diminish the probability of loss There are no fix rules, but we have to know variable rules.
For example, In fundamental analysis we can’t predict market exactly, but we can get a sense about future. We have to compare data and improve our knowledge. It’s the best way to be a successful Forex trader.
Realize your estimations
As the latest rules for successful trading, please realize your estimations. What does it mean? When some people enter to Forex market, they think they can get millions $ every day, with no money. Yes it is, in Forex market you can do this, you can get money, you can get rich, you can achieve your dreams.
I know, it’s reality. It’s a way. It’s the best and easiest way. But how? ‘My dear traders, you can get rich, but step by step, if not, you lose your money’. Let me to give an popular example. How can you eat an elephant? Morsel by morsel
Yes morsel by morel, But I wonder when some people don’t understand it in their life. As I told you, Treat Forex market as a business, not a betting place. It’s odd that some people want to double their account in one month. For example you have 1,000$ and you desire to double it and make 1000$ in one month. the Amount is 1,000$, and the percentage is 100%.
But please imagine a situation that you have 1 million$ in your trading account, do you want to double it in one month? 1 million$ and 100% of your deposited amount. And what if your balance be 1 billion$, can you double it in one month? 1 billion$ and 100% of your deposited amount.
It’s outstanding, but what if you lose your money? 1,000$, 1 million$, 1 billion$. You want to earn 100% rate capital return in one month, but can you lose all of your money? It’s a game, 100% is 100%. It doesn’t depend on your money, then please realize your estimations.
‘When I want to trade with my money, I think it isn’t mine, I try to minimize the probability of loss. I try to trade like an asset manager.’
it’s good to my client that get 40% of their deposited amount annually. so, please think bigger. If you have 1000$, think its 1 million$, and devise a plan for it. If you make profit 2% of your balance monthly, with compound effect you can a billionaire after 5 years. But if you get 100% of your balance, and lose it in next month, you just stop yourself. So, please trade constantly, and become a millionaire Forex trader.