To Become a Successful Trader, You Must Do These Steps


Illustration: JOSS

Do not hurry to become a forex trader. Don't also rush to invest your money to invest in forex trading business. Why? You must know and understand, forex trading business is not suitable for everyone, because it is high risk and high return business. That is, the forex trading business has the potential to gain big profits in a short time, but also has a high risk of loss in a short time.  


For that, before plunging into a trader or investor in forex trading, you must learn forex trading intensively and understand the basics of forex correctly. Here are the steps that you must do to become a successful forex trader.

First, it is strongly recommended that you start practice trading using a demo account (using virtual money), do not directly trade with real accounts using real money. To start learn forex trading with a demo account, you can open a demo account:  HERE  

In addition to a demo account, you can also start forex trading practices using a real account, but real no deposit bonus account. This is how to trade with psychology such as trading with real accounts, but without any risk at all. Why? Because the money you are trading is bonus money that is provided free of charge by a broker company that facilitates your trading transactions on the forex market. Fun, the profit from the bonus account can also be withdrawn (cashed) into real money after fulfilling the terms and conditions applied by the brokerage company. To start practice  forex trading with a real no deposit bonus account, you can open an account:  HERE  

After your trading on a demo account or a real no deposit bonus account is able to generate profits with a weekly or monthly target consistently, then you may try to open a real account and start trading using real money. For the stage of learning to trade with a real account, start with a deposit (entering funds in the real account for trading capital) with a small fund. Why? Because you are still studying the level of trading, the potential for the loss even losing all your capital is still very large.  

If you trade with this small capital you are able to generate profits consistently, you can increase your trading capital bigger and bigger gradually. To be sure, forex trading must not be greedy. The recommended profit target that is easily achieved and safe is the fair profit of 5-20% per month. To start practice  learn forex trading with a real account, you can open an account: HERE

If you have learned to trade intensively using a demo account, then increase using a real no deposit bonus account, and finally use a real account, but have not been able to generate profits consistently. Even though you feel you have learned enough to trade for a long time, stop for a while or forever. Perhaps the forex trading business is not right for you. Perform self-inspection or evaluation of your abilities.  

If you still want to continue your forex trading business, you only have two choices : 

1. Learn with a Qualified Trader Mentor

Don't let you choose the wrong trading mentor. Choose a quality trading mentor. The main characteristic of a quality trading mentor is that he dares to show his portfolio or trading results on a real account, and he has proven that he really has been able to produce consistent profits from forex trading.

Don't just trust the words that a mentor claims to be a master trader, but he can't show his portfolio or trading results on a real account. This is a characteristic of a fake trader master. You have mistyped if you learn to trade with a fake master trader, and you will definitely regret being the victim.

For that, you must be very careful. Because forex trading is planning the security and growth of your money going forward. Forex mentors are many, but quality forex mentors are still a little. But you must be persistent to find a qualified trader mentor who is willing to train you to trade either for free or for payment. This is the first step you must do to succeed in the forex trading business.

2.  Become an Investor as a Follower of Copy Trade

If you have given up feeling unable to trade and are lazy to learn more about forex trading strategies, but you still want to generate consistent profit from the forex trading business, then the solution is that you can become an investor.

How to? You need to find a fund manager who can receive your funds for trading. But you have to be very careful because there are also many fake fund managers who are a scam. They promise to be able to produce consistent profits, but after your funds are handed over to be managed/traded, it turns out to suffer loss after loss until your funds run out without remainder.

For this reason, we recommend the safest to be an investor through a copy trade service, where your trading account is synchronized to be copied with a trading account run by a professional trader or master trader. Nowadays, many good copy trade services are provided by forex broker companies themselves as well as specialized copy trade service companies.

However, the biggest copy trade service company and has a trusted reputation is www.mql5.com. There are many accounts here that you can copy with a monthly subscription. To ensure a trading account at www.mql5.com is run by professional traders or master traders so that it is worth copying, make sure the account has been able to produce consistent profits of at least 5 months to 1 year, even more.

If you are interested, we also open a copy trade service at www.mql5.com using the Extreme Swing FX FOR LIVING trading strategy, you can join:  HERE

Okay, 100% choice is in your hands. Both you as a trader and investor, especially for beginners who still need a lot of learning, you must understand the basics of forex trading below:



What is Forex?

Forex is an acronym for foreign exchange. It is a market where people exchange one country’s currency for another country’s currency. It is called the cash market or spot market. The spot market means trading right on the spot at whatever the price is at the moment the transaction occurs. This market was established in 1971 as was previously mentioned. 

The forex market is the arena in which the currencies of countries around the globe are exchanged for one another. Payments for import and export purchases and the selling of goods or services between countries all flow through the foreign exchange market. This part of the Forex market is called the consumer forex market and this is where the majority of the daily volume takes place.

Prior to 1994, the forex retail interbank market for small individual speculative investors or traders was not available. A speculator investor is one who looks to make a profit on price movements and is not looking to hold onto the currency for the long haul. With the previous minimum transaction size, the smaller trader was excluded from being active within the market. In the late 1990s, retail market maker brokers were allowed to break down the large interbank units in order to offer individual traders the opportunity to participate in the market.

Until now, the forex market is the largest financial market in the world. The term “market” refers to a location where buyers and sellers are brought together to execute trading transactions. Nearly $5 trillion is traded on the forex daily. 

How Do Traders Get Paid?

Traders make buy and sell transactions in the forex market to make a profit in a matter of pips. The word pip is an acronym for price interest point. The pip system monitors price movements in the market. Pips are usually measured in decimals. Depending on the pair being traded, pips are usually the last number of the decimal in the price evaluation. A trader’s financial reward is measured in pips and those pips are converted into dollars. Most traders in the forex market trade with what is called leverage. Trading with leverage means you are either borrowing or using someone else’s money to trade. 

Trading on the forex is done in currency lots. There are three types of lots. A micro lot is approximately $1,000 worth of foreign currency. A mini lot is approximately $10,000 worth of foreign currency. A standard lot is approximately $100,000 worth of foreign currency. To trade on the forex market, a margin account must be established with a currency broker. This is an account into which profits will be deposited and from which losses will be deducted. These deposits and deductions are made instantly upon exiting a position.

These three types of lots create different payouts per lot. A $100,000 unit is called a standard lot and pays approximately $10 per pip captured. A $10,000.00 unit is called a mini lot and pays approximately $1 per pip captured. A micro lot is a $1,000 unit and pays approximately $0.10 per pip captured. ***


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