The Top 5 Qualities Of A Successful Forex Trader Essay

784 Words Sep 30th, 2016 4 Pages
Foreign exchange in Nigeria today is a thriving business if you know exactly what you’re doing. Keep in mind the terms could be different when you talk about forex trading and forex exchange. Trading forex in Nigeria has been in the news lately, especially if you have the time to follow the FX trading show in the news.
However, to become a successful forex trader is hard and for you to be called a forex broker, you need to know how to win the heart of many in the forex market.
A Forex Trader is a person that takes forex exchange market to conduct trading of currencies and implements the skills and practices of Forex trading. A Forex trader must know several trading strategies as well as different jargons of FX trading. In this article, I will reveal to you the top 5 qualities of a successful forex trader and how you can become one.
01. Discipline and Realistic: The 1st quality a Forex trader must hold is discipline. Practically, anyone make money in Forex if you are lucky, but not everyone can earn money consistently. Moreover, the traders who tend to be anxious and volatile can lose the money within a short period of time. Besides, many traders know the Forex strategies, but they 're unable to put them into action correctly.
One other thing that goes with discipline is that you must be realistic while trading. It is possible to love a specific currency, but that may not bring the desired level of success you need.
In addition, the trading strategies are like a compass…

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