10 Rules of Becoming a Successful Forex Trader

Hi there,
This thread is dedicated to rules which will help become a successful forex trader. If you have rules which you follow whenever you trade, please share them with us. Here are top 10 rules of mine:

1. Make a trading plan and follow it.
2. When the reward is worth the risk, take it. - Always calculate your risk reward ratio
3. Don't ever blame the market, it's not the market's fault, it is yours
4. Keep your emotions in check
5. Use Both Technical and Fundamental Analysis
6. Never invest more than 2% of your capital in one trade
7.When you are not sure, use demo account
8. If you trust your strategy follow it with great confidence (if not go back to demo)
9. Learn how to successfully follow the trend
10. Always use stop loss

Trading is an easy business to get into: No degrees or specialized training are required, start-up costs are relatively low and it can be done from the comfort of home. I am doing comfortably trading on the platform of Forex4you broker. As a hobby, trading quickly gets expensive: Just dabbling can prevent traders from gaining the proficiency and experience they need to become consistently profitable. So, a trader treat forex like a business.

thank you for youre thread, but we can not be successful alone. in my trading experience, i am always have big profit and gain big bonus, why that can happen ? because i am use FXB Trading as my broker. they always help you on trading.

A successful trader abides by some extra ordinary rules and regulation about trading. They trade with low lot and trade for long time. They plan before trading and keep patience while trading. They use reputed strategy while trading. But the most important thing is that they trade with reputed broker. Like in accordance with them I am using Trade12 broker as a reputed broker. Te broker is having high liquidity of source and high security of funding.

little of my opinion about the rules that will help to be a successful forex trader. read the basics about forex trading until you understand, go professional traders and experienced in order to get the knowledge. if you are ready as a whole, you can directly follow the world of trading

To become successful, you have to be patient and perseverant. Besides that you have to avoid over-trading and trade with a regulated broker. Eurotrader offers a professional trading environment for traders. They broker uses smart bridge technology.

Absolutely, I completely agree with your opinion. Success in forex cannot be easily and instantly achieved. That's why I am still learning and educating myself with Tickmill broker, so that I can deepen my understanding of the forex market and trade more effectively.

Very much appreciated with the given suggestions. However, I will try to apply these on FreshForex broker very soon cause so far they will allow all of these as their interface is a bit different.

I completely agree with you. Success in forex trading is not as easy as it sounds, it requires process and time. Therefore, it is important for traders to constantly learn and understand the market to improve their trading skills and achieve profitability. This is something that I also prioritize while trading with Tickmill, my preferred broker.