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

    1. #11
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      Quote Originally Posted by sakes View Post
      What are the basic knowledge or skills required for a person to become a trader in forex? I am not familiar with basic terms , like pips, reading graphs, so suggest some good source for starting.
      To become a good trader, first of all you need to have a clear knowledge about what is forex market and how the profit is being made here. Then you will go for practicing in a demo account with given free virtual money, you will trade with this money and spend enough time to learn how to earn real money from the real account. The time period of practicing in demo account depends on how much fast learner you are.


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      Default what Basic Skills required beacome a trader?

      If you want to be a trader in forex then you need the basic information about forex and then you need knowledge and experience. You also need a very good strategy and manage your risk and money.


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      dear the basic skill which is very much important is that is chart pattern you have to learn about the char pattern and then you will be able to trade in to the forex market and earn from the market


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      the basic thing which is required to become a good trader is patience.patience plays very important role in our trading.some time we do no wait for the trade which is in negative and closed it.and at the same time it come in profit so patience is neccessary for trading.


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      Every skill that would help in the improvement of trading results is needed in forex. That will include both technical and fundamental skills in trading.


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      Quote Originally Posted by sayedbd View Post
      this trading business is a good business basic skill required beacome a trader and trading. this trading system requires me to be on for up to 10 hours some days. you reactive strategies so I can't just set a simple work.
      it requires skills in this business .. we should take our time to practice ... strategy and systems both very supportive trade and skill in our trade ...


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      The only basic skills required to be a good and successful trader is the ability to learn and apply what you have learnt to become a successful trader.


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      term we are people who do not know what if it does not recognize what basic science will be very difficult to master the material will we traded. so no harm as a trader we really really really pay attention to trading that we do. because if we do not have the knowledge and skills would be very dangerous if it continued trading with empty hands.


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      Well to start with,complete newbies,need to learn various Terms and Abbreviation of Forex Trading...!

      There are many Resources online for this,just search around with simple Google Search

      Then they need to adopt one of the many Strategies and Learn,Practice and Test it,till they get it right and are Comfortable...!

      It is where the Forex Forums helps...!

      They must Start slow and steady,when Trading Real for first time,and observe how the Markets behave

      Above all be Focused and Patient...!

      Hope good

      Cheers
      The Real Money is in 100% Compounding


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      ability to be patient even when the forex market is not doing fine and also the ability to make sure you have your emotions under control and be very discipline when it comes to trading in the forex market and the desire to succeed because the forex market will treat you in a way that you will feel like quitting but you just have to stay on that job.


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