To be a successful trader in forex its not a hard.for becoming successful we need to follow some rules and strategy.if we take forex business as permanently then our success is possible so early.need to gather experience to be a successful trader

Success is the breakthrough from the previous level to the next, and likewise, all we can do is break through our own limitations to be truly successful in trading.

I really like a quote I read sometime ago. "if you are the smartest person in the room, you are in the wrong room".

Generally, it could be about attitude.

Specifically, practice, practice, practice,

At the end of the day, for a lot of people, success is all down to the bottom line. That's the only indicator that won't lie to you.

I think 'successful' is a very semantically packed word. Semantically packed words can be contextually general and deeply subjective. Only a truly successful trader could answer that with detailed sincerity.

However, I think success comes down to the individuals expectations from the outset. They say "you can never see the light until you have seen the darkness." So, success is never known until it is tested.

Originally posted by ZenaImderis

In my opinion I think when you start taking the right decisions and you start decreasing losses, then you can consider yourself a successful trader.

 

I agree with you. You can only consider yourself a succesful trader when you begin minimizing your lossess and start increasing your gains. But this is a process that needs patient and discipline. One must work hard to achieve proper knowledge and right strategy in Forex trading.

In my opinion those five factors are all impt.to be considered to measure the success of a trader especially experience.

When I developed a good trading strategy that works and can control my emotions,that is the time i can consider myself successful in trading.

Originally posted by Sasha

Percentage of successful traders in forex is very low. In my opinion success is measure by following factors.

 

1- Historical data

2- Consistency

3- Experience

4- Strategy

5- Professionalism

Long historical data with consistent profitability is an important measure of trader's sucess. Then experience and strategy comes next. Professional behavior matters if u want to acheive more success.

What other factors do u think r important?

 

After 6 months stable returns, it feels excellent. Every additional month only adds more experience for the strategy to developer better. When the forward history builds up, a proper optimized backtest can be carried out and compared against live results.  A backtest should be used to Compare optimized setting vs Live result setfile to forecast the future. 

Originally posted by redrhinofx

 

Originally posted by Sasha

 

Percentage of successful traders in forex is very low. In my opinion success is measure by following factors.

 

1- Historical data

2- Consistency

3- Experience

4- Strategy

5- Professionalism

Long historical data with consistent profitability is an important measure of trader's sucess. Then experience and strategy comes next. Professional behavior matters if u want to acheive more success.

What other factors do u think r important?

 

 

 

 

After 6 months stable returns, it feels excellent. Every additional month only adds more experience for the strategy to developer better. When the forward history builds up, a proper optimized backtest can be carried out and compared against live results.  A backtest should be used to Compare optimized setting vs Live result setfile to forecast the future. 

 

The idea apply here looks like the more you trade, the more you gain experience and knowledge, then the more you develop a bettter trading strategy. But how this backtest comparison with the live results done?

When I finally device a simple trading strategy that really works,I will consider my self successful