The 5 Stages to Becoming a Profitable Trader

3

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.

Get the 5 most predictable currency pairs

About Author

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 the 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.

3 Comments

  1. Great video. Forex trading success is 95% mental and only 5% techniques. It’s so important to master your emotions and be disciplined if you want to be a forex winner.

  2. The guy is not serious. If he is a serious FX trader he knows that he is cheating some hundred people by doing this overselling of a business that is complex and very risky. The tutorials are fraud and he gave 3 strong FX pair recommendations last winter where everybody should profit from. All 3 failed (All 3 !!!) Thas really good. Stay away from all sellers. It is only them who get rich, and you lose your money. I talk from experience, 18 years of trading and 3 in the FX marked where I do well, but not because of him.