9 Things You Didn’t Know About Successful Forex Traders

What is it about successful Forex traders that sets them apart from the rest? A well-known figure in the Forex world is that 95% of Forex traders fail. While no real proof of this number exists, I can vouch for the fact that it’s very close to 100%.So what is it that puts these traders in the top 5 percent?

Read our Technical analysis and Fundamental analysis

Experience

Becoming an experienced trader
Why did you want to enter this trade?
Payam Zolfagharian
I started my journey barely a year ago and had absolutely no trading experience. As many traders recommended, I began demo-trading. My goal was to show good results on the demo first and then start trading live. " If you find yourself being unable to answer the questions above when you trade, then you are doing something wrong! It could be that you don’t yet understand the finer intricacies of the strategy you are using. Maybe the problem is the strategy itself. Then you have to re-evaluate the strategy and make further studies before you proceed with your trading "
2013 - 2015
2015 - 2016
What gave you the exact confirmation for the entry?
Zolfagharian Payam
Unfortunately, there are limits to how much demo-trading can teach you. A demo account is a great place to learn how the broker platform works. It’s even better for learning how the new strategy you just discovered works. " In conclusion, practice on keeping a diary and always evaluate your trades! If you are carious about the strategy I am using I’ll present it here next week with a walkthrough including pictures! See you then! "
You won/lost because?
Payam Trader
But for the real experience, and to truly evolve as a trader, you have to go live! I compare this demo-to-live experience to my days as a kick-boxer, stepping into the ring was so different from any other training experience I had. It was not the ring itself that made me nervous, it was the fact that it was a match, meaning there would be a winner and a loser. In trading, it’s the fear of losing the money you’ve worked so hard for. You will be afraid of losses, but it helps to remember that what matters is that you get better and better for every mistake you make. Of course, you have to evaluate the mistakes you make in order to learn from them.
2016 - 2017