How to Become a Forex Trader

The first step to becoming a successful forex trader is setting a realistic goal. Determine your time frame and financial resources. Choosing a platform based on your time and deposit size is an important factor. You also need to budget for materials like trading signals, algorithmic trading robots, software, education, etc.

Learn to accept loss. The best traders feel the pain of losses. They won't let the losses magnify. Often, they try to recover their losses by gambling. While these losses are painful, they are also valuable lessons that can improve your skills. A losing streak is inevitable, but you must see it as an opportunity to improve your game and become a successful trader. You need to have an edge over other traders and have a set of criteria for entering and exiting the market.

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