How To Become A Profitable And Successful Forex Trader

How does one become a profitable and successful forex trader? Is one of the questions I often get asked by a lot of people who are either interested in forex trading or someone who has been into forex trading for a while but isn’t seeing any successful outcome from all their efforts. Due to frustrations and failure of losing their money they often run back to me for advice.

To answer the question... how do you become a successful and profitable forex trader, there are things that needs to be put in place.

How to become a profitable and successful forex trader

I have highlighted 6 factors that should be put into perspective when talking about making money as a day trader... because, been a forex day trader, one of the easiest way to really built true wealth is through day trading the forexmarket.

The question is -- do you have the discipline to keep to the rules of the game?

Let's see what the 6 factors are...

1. Understanding Of The Forex Market

Before you even start talking about making money as a successful and profitable forex trader, one question I want you to sincerely answer is... do you have the proper knowledge and understanding of trading? The answer I know is NO. 

Why? Because if you do, you wouldn’t be here reading this content.

Many lack the right knowledge when it comes to trading... and yet they want to make money trading the forex market. They are like many who say they want to become a medical doctor and yet they don’t want to go through the process.

Though, many will buy their way through. However, they'll definitely pay for it. Because, in life, it is a different ball… game. You will be tried and tested about what you claimed to have known. And this is what is happening to a lot of forex traders out there. 

And I also want to state that this is the reason you have been failing each time you try to trade. So my advice for you to today is to go get the right knowledge about how to trade the forex market effectively.

I want you to go and learn about: forex price action trading strategy. This highly involves you to study the story of price itself which is the candlestick (Candlestick patterns, and candlestick formations).

Also learn about support and resistance, chart patterns, and also get to understand how to develop your own trading strategies as well. These are the basics you need to get started with. Though, it looks simple... but I assure you that it’s the most effective strategy out there. I believe that in simplicity you can find sophistication.

You don’t need to complicate things. Have you ever heard of the term analysis leads to paralysis? That’s what happens when you have too much indicators all over your charts.

2. Good Forex Trading Strategies

I talked about forex trading strategies earlier on right? I want to assure you that if you are able to come up with a good forex strategy for your trading. you are sure of getting the very best out of your investment... this is guaranteed.

Your strategy is your game plan -- for you to be successful and profitable as a day trader, you've got to have sound game plan that will give you an edge over other traders out there. I can tell you this, many don’t really have any strategy in place and yet they want to make money as a trader.

Truth be told, if you don’t have a good game plan, do you really think you will be able to make money trading? The answer is big NO.

I know of someone who is really good at spotting profitable trades. However, do you know is challenges? His challenge is how to keep the money he has made! While he can pick profitable trades, he doesn't know how to keep that money it's a sad story friend.

3. Consistency

Knowing how to interpret the chart effectively and having a good game plan isn't enough friends. Consistency is the key to building true wealth as a forex trader. I see so many traders out there who have over 5 trading strategies.

Today when they trade and lose out... they immediately change their trading strategies and develop another as if the trading strategy is the problem. Rather, in my opinion... they are the real problem.

Why? Because, they are not consistent… my trading strategy is purely price action trading technique which can be used on any kind of market -- be it: trending market, or range bound market.

Secondly, I follow my rules to the later... if any trade setup don’t meet my requirement which is a framework I uses, I discard that trade and looks for a good and profitable trades I can bank on.

Where many people including you reading this article makes mistakes is when you think you can trade all the market that gives you trade setups. It is wrong. This is why so many people fail as a trader. 

Do you want to also follow such path? NO? The learn how to come up with sound trading rules.

4. Discipline

Discipline is what separates the pros from the noobs. What do I mean by this? Many bring in a very wrong mindset into trading. They think trading forex is their tickets to win lotteries and so therefore, they treat it like one.

Let me tell you something. If you must become a successful forex trader, you must be disciplined and also treat forex like a business. If you are looking for quick money, you can as well go and play sport betting, casino, or binary options. These are the only thing that promises quick money.

On the other hand, forex trading is a business and as such you should treat it as one and that's only when you can be a consistent and profitable trader. I believe that's your aim. Right? To be consistent in your profit making; So, I urge you to forget about making quick money and focus your attention to learn and be disciplined enough to becoming a better trader.

5. Record Keeping

Have you been keeping your trading journal? I know you don't even have a trading journal. Don’t be surprised I know. I too have once been there too. I know it isn’t easy to keep a trading journal. But for you to be successful and profitable, you don't have a choice than to keep trading records of all your trades.

One thing it does for you is to help you to become a better trader. Because, you will get to learn from your mistakes in time past if you are looking at your journal in the future: also, you will also be able to identify certain patterns as well that's peculiar to you alone. This is one of the benefits of keeping a journal amongst many others.

6. Continuous Learning

As you know, be successful in anything, you've got to learn, unlearn, and re-learn. The same is true with forex trading. Here are good resources where you can learn from other experts. You can visit babypips.com, actionforex.com and learn from other experts.

Please note; am not saying you should copy trades! Because many people do that… if you don’t know the reason(s) for taking a trade, you should hold on to that trade at all talkless of taking it at the first place. Your journal over time is another great source to also learn forex trading and become a better and well informed trader. do you get me?

Recommendation

With all these I have highlighted so far, where you get started? This is why am recommending to you forex candlestick made easy guide.

The guide covers all I have highlighted above and it even comes with a complete system. However, I would urge you to please take the time to understudy the system on a demo account before even going on live account.

What Are You Going To Learn From Forex Candlestick Made Easy?

What is the forex candlestick made easy about? This is a forex trading guide that comes with timeless principles on how to trade the currency market. It teaches you a lot about candlesticks and support and resistance. 

In addition, all I’ve highlighted on this post are also taught as well. What this signifies is that you have nothing to be afraid of. Why? Because what you will be getting has been tested over time. What else do you want if not to get speed up with your trading?

What you will be learning from the forex candlestick made easy program…

• How to interpret the candlestick patterns and formations
• Understanding how to come up with a trading strategy
• Detailed and comprehensive guide on to trade
• Complete trading system used by Eric the author of the program
• 60 days money backed guaranty. Meaning if it doesn’t make sense, you can request for a refund within the stipulated time frame.
• Good customer support system is put in place to help you as a trader.

The forex candlestick made easy system that comes with the program is comprehensive and detailed to the point that anyone including newbie’s would find it very useful. It gives you proven and tested trading system.

Eric also took out all the stress and unnecessary information that won’t be beneficial to you as a trader. So, you are sure of getting the very best out the forex candlestick made easy program.

Conclusion

Forex trading to me is one of the best and easiest ways to build true wealth online. The beauty about it is that you don’t have to sell to anyone, you don’t need to carryout advertisement, you don’t need to perform SEO or any form of marketing at all.

All you need to become a successful and profitable trader is to follow a sound system put in place for you. You can start with the forex candlestick made easy guide and start making money as quickly as possible. Have you ever heard of the term standing on the shoulders of the giants?

That's what the candlestick made easy by Eric is.

It gives you everything you need to succeed as a trader. So friend, what are you waiting for? You can get the guide here and start your journey as a profitable, consistent, and profitable trader now.

PS: please remember, you have nothing to lose as there is a refund policy placed on forex candlestick made easy. go out there and start trading successfully.

Wish you the best.

Reuben.