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    Thread: What basic skills required to become a trader? (Part 2)

    1. #101
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      Many things are required in the Forex Market that we traders need to have learned before we become successful in this business. but i generally summarize all of them to knowledge. A trader needs to get a general Forex knowledge so that they can use it for their trading in this business.


    2. #102
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      The most primary thing that is required in this regard is to get the how know of the forex market and to understand how the market works and how to put in a trade and how to be consistent and then you come to the demo account and you get enough practice and then you can come to the real account.


    3. #103
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      you sure needs discipline as well as good trading skills if you really want to make money as a trader because this is a market that millions of people trade around the world and as such it requires a lot of information as well as understanding for you to be able to make money here .


    4. #104
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      There are a lot of basic requirements for beginners but I think the basic and most important requirement for traders is money management and risk management. As we all know, forex is risky if You do not have the right money management method, you will never succeed, To learn how to manage money I only trade with lot 0.01 / lot fixed and open no more than 2 lot at the same time


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    6. #105
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      A trader needs to learn following basic skills:
      1. Market Sentiment
      2. Money Management
      3. technical Analysis
      4. Fundamental Analysis
      5. Use of Indicators
      6. Create or adapt a strategy

      Besides above mentioned skills, traders should gain as much experience as they can because experience rectifies mistakes.


    7. #106
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      you have said a lot bout how ever the basic skill that is required for a new trader to become a successful trader is the ability to spot good trade and and take advantage of it skilfully in a easy that it will not lead to the crashing of your account by using too much lot size that for me is the basic trading skill.


    8. #107
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      To become a trader some basic skills are needed but to become a successful trader, some special skills are needed. You basic skills are just to start up but to go long long ahead you should have some special skills. Make your own way. Success here is always a secret that you can learn by yourself. But you must have mastery over basic skills.


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    10. #108
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      The basic requirement to become a trade is that you need to learned the essentials about the Forex market, you need to learned the tools and features to open your trade and closing it, you need to be informed when and how much your concerned currency pair's price moved/fluctuation according to minutes, hours, days, weeks and months base, you need to opened a trading account with your Broker (InstaForex Company), you need to deposit big investment, and you need to be informed about the payment processors through that you can deposit and withdraw your money.


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