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  • Tuesday 1 October 2019

    Recommended ways to become a Profitable Forex Trader

    winning in the markets is a current struggle that majority of traders are facing worldwide, with so many new strategies being developed and thousands of robots being added to the market has made a most profitable career a much difficult career. I am sharing with you important things and routines that you should follow to help you become a more productive trader in this flooded market place.

    Winning is not much based on a certain strategy but it is based on how you trade, On September I have achieved a 100% success rate in more than 20 positions I opened using my strategy but at the other hand you may find a trader losing with the same strategy, and that is a reality that you cannot ignore. In this article I have shared ways that traders can follow to improve their trading.

    Keep it Simple

    you should not complicate your trading, trading is very simple and complicating it can really cause you problems as a trader, having charts and a 

    Plan Your Trades

    Stick to a trading plan and always prepare on weekends for setups that you can trade when the markets open

    Choose your Mentor Carefully

    Choosing a trader to follow is very difficult, the traders on the spotlight mostly are mostly not good traders at all, these guys are dream sellers who promise people success in trading while themselves cannot trade, they mostly in instagram and they make money on Classes and they hardly posts trade setups on their channels.

    Recommended Article- The Reasons Why A Majority Of Traders Fail

    Master Trade Entry and Exit

    Knowing when to enter a trade position and not when to enter a position requires a high level of discipline and understanding of institutional order of the market. as a trader it is your duty to know the right time for making trade entries, opening the charts does not necessarily mean you must open or close a trade position, as a trade you must have a technical or a fundamental reason for everything you do in your trading account.

    Trade entry is done on a valid reason, you do not enter a trade because you think the market will go up or down which is one of the biggest reason why most traders dont make money in the markets. the market is very tricky as a lot of false moves get to happen in the markets causing a lot of traders to get trapped into losing trades.

    Use Proper Risk Management

    Risk Management is important in any business as it is in trading, no matter how good is your strategy, you will definitely lose money if you dont have a good risk management, learning how to control risks is a must for any trader out there despite their skills.

    Risk Management is clearly an issue as there have been traders who have been promoting the use of high risks in trading which is a very bad thing to promote in trading the markets.

    Sifiso Nkwanyana

    Author & Editor

    I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.


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