10 professional traders to share their top forex and trading success habits. Here's what they said:
1 HAVE A TRADING PLAN
You have no business trading without a trading plan.
2 HAVE A STRATEGY
A trader can use one or a combination of strategies in his trading portfolio, depending on his personality. There is no ''one'' strategy that is better than the other.
MANAGE YOUR RISK
Never trade money that you cant afford to lose becasue then the pressure of losing it wont allo you tohave the patience to profit!
KEEP A CLEAR MIND
For the last 14 years, I before I do anything in my day. I practice yoga. So before I traded each day. I always made sure my mindset and brain were in an optimal state
EXERCISE DISCIPLINE
You must excercise the discipline to follow the porcesss and do the work required..
6 DO YOUR RESEARCH
Every morning, before i start looking for trade oppuritinies i do my anlaysis and try to choose the currency pairs that have clearest conditions of them all
- ANALYZE EVERY TRADE
Analyze also the successful trades to see if itworked as planned or if you were merely lucky
8 STUDY PRICE BEHAVIOUR
Filter out noise, focus on price, stay small
9 BE PATIENT
I never had the attitude of when will I become successful. My mentality was however long it takes is however long it takes
10 ACCEPT LOSSES
You have to konw that taking a loss is a part of the game and you need to embrace. If you cant take a losss and accept you were wrong. You will never successful trader.
