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The 5 Stages to Becoming a Profitable Trader

Guest post by Kris Matthews (http://tradeforexfundamentally.com)

I feel that something equally important as the strategy that one uses to trade with is the psychology. Trading (especially forex) is not an easy thing to do and it can be disheartening when losses occur. I wanted to give you something to look forward to so you know what’s required to become successful.

The following video is inspired by an anonymous statement from a trader who outlined the 5 stages traders go through before becoming successful. I’ve made several mistakes during each stage, which you may be able to relate to, before making it through and my hope is that you honestly assess which stage you’re in and decide what you need to do to get to the next one. I hope that this provides you some certainty and a pathway to make it as a successful, profitable, forex trader. With that, keep at it and remember to keep focusing on your goal and make the right decisions- then you’ll hit your target.

 

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.