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Success comes when a trader takes trading seriously. Many traders fail to take trading seriously and lose. To do so, one has to learn patiently and remain disciplined during the journey.

To be successful in the forex market, one must understand how to minimise risks, avoid mistakes, and be knowledgeable about trading. Without knowledge, there is no chance of success in the forex market. Losses are there, but to deal with them efficiently requires effort, and that makes one a...

We cannot avoid losses in the forex market, but knowledge does help us eliminate them to an extent. Our knowledge is the greatest asset we can have in the forex market as our 'qualification' to trade.

I think choosing the right pairs, along with risk management, is crucial. Emotional balance and being professional in trading are crucial too.

It depends on your mindset and what kind of challenge you think of forex to be like. If you think of forex as a positive challenge, you will prepare yourself for it, and if you feel it in the negative, you will feel that way.

I agree! Copy trading is a nice way to get started. You get to learn a lot by observing expert traders. I also have a copy trading account on Zulutrade where I copy from professionals. Monitoring my account and analysing when they enter and exit positions helps me learn a lot.

It is necessary to keep a journal as it will help a trader know the direction of trading and what a trader needs to do to improve their trading. Also, it is beneficial for a trader’s psychology.

Keeping cool under pressure and constantly improving myself are the things I am working on. I have improved them a lot, but I need to improve them further. Thank you for your reminder through this post.

Because traders want to make money quickly and are obsessed with this idea. They are not confident, and all they want is a workable strategy that works every time. If it doesn’t work even for a single time, they leave it, thinking that it does not work.

Keep this in your mind. Forex trading is not any easy money making scheme. No shortcuts work in the market. Success in forex trading is possible only by hard work, discipline and patience.

Forex market is volatile and so risky. But if you understand the market and have deep knowledge about the market and trading then you can turn this into an opportunity. Many professional traders make money on this risky volatility.

Both should be part of your trading process. You just cannot underestimate any of them.

Discipline is one of the essential characteristics of a successful forex trader that enables a trader to be consistent and stick to the trading plan.

I agree with you. Being profitable takes a lot of time and effort. One can’t expect to make profits as soon as they enter the market. You need to work hard for that. Do the learning and gain knowledge deeply. Also, you need to practise trading in a demo account. Manage risks properly and stay...

You can make a significant amount of money in the forex market, but you'll need to figure out how to do it and know what it's all about. You need to be aware of how to conduct FX trading properly. You would need to determine which information is worthwhile taking because there are so many...

If they are losing consecutive trades or over trading, they should quit trading for sometime. They can start again when they think they are ready.

Just because no one will stop you from trading, it doesn’t mean that you can start trading without knowledge. I mean how you think you will be able to place trades or use certain market functions without knowledge. Such steps will obviously take you to losses.

It’s not about liking or not liking to take a risk. It’s about you controlling the risk you are taking. Since there is no way other than a financial risk to make money, you have to find out how your risk should be so that it doesn’t harm your future trades.

Yes, it is true! Along with dreaming big, one has to work hard to achieve what one wants. Dreaming big will give a direction towards your goals, and working hard will make you traverse along that direction towards success.

As you said that finding a mentor might be difficult for some due to certain reasons, so they can consider their losses as their teacher. They should consider losses as a part of their learning and try not to repeat the same mistakes ever again.