Rules of Successful trader

Just be disciplined and patient with your trades, do not rush. And never leave learning. You'll have to explore each and everything side by side if you want to go far. Also, keep it low in the beginning. Do not start with very high capital in the beginning itself, that can go against you.

Great and most important rules you say here.

its a good point that "Klemens" already mentioned, generally we the traders always try to bring result instantly , this rush attitude for all time make us greedy and emotional , for that reason we trade here at random and got upset at last.

All things true. It's good to be reminded of these every now and then.

all great

The more you have knowledge about this market, The more it is possible to be a successful trader. so, gather all kind of knowledge and trade like a pro.

Make a trading plan, manage your risks, wise broker, low leverage, practice new strategies and raise your capital gradually.

Two important rules of a successful trader are:
1 Good trading plan
2 Avoid emotions

Hi all. I've read through the thread and there are some great advice being dispensed. However, what I realised, although everyone is talking about the trading plant and being systematic strategically, you know the psychology part, no one has actually talked about the physical learning. What I mean is that I understand all the psychology by it, but I find myself, immersed in an open sea with sharks and a school of marlins but I can't differ from them. Setting out to learn, I'm trying to get books, and courses but as you can the Forex area has just exploded with every tom-dick-and-harry writing his/her own eBook and promoting on Twitter, Instagram and uploading videos on Youtube. The marketing and selling of education courses is entirely saturating the real and true educators out there. I want to find them and not end up falling pray.

So in real terms, for those and some of you learned and advanced traders here, what educational sources would you recommend? Because in honest truth, I'm thinking it's better to spend my money out there to study a financial education and/or accredited diploma in stock trading and securities.

There are many rules of bussiness and to be successful in forex trading like, you must have discipline, control over emotions, having good plan and also you need a good knowledge and skills.

I feel like that there will not be any successful traders out there who will tell you what to do, but I do remember Warren Buffet's most remembered quotes. It goes something like this:
Rule 1 - Never lose money
Rule 2 - Never forget Rule 1

True, but even Buffet has read books. Are there any resources one could use to better understand the market and limit one's risk. It seems that everyone here is suggesting that the best way is learning by doing on your trades until you have the "aha" moment. I understant that and sometimes just jumping out there is the best course, but if I can at least jump prepared would be much better for me.

I think, to become a good trader in this market, you need two qualities on you. One is Patience and another is Discipline.

Professional traders are always disciplined and patient in the market. Whether you trade Forex, Stocks, Indices or Cryptos, proper positioning is critical to the long-term success of your trade. Don't cling to bad trade in the hope of getting better in the future. Decide on the price you have to close before the trade gets worse. Place something to reduce the risk.

While trading, stay committed to your plan. You can make minor tweaks here and there but don't change your overall plan.

I agree with those two qualities. Most of the time new trader lose patience and quit the market.

True. After a few losses people realize trading is not easy at all.

Success in the forex market mainly depends on the trading strategy. If you choose the wrong trading strategy, you can lose your money.

A trader need to be benefitted from losses if he can think it as a lesson. Every loss is a lesson. Traders use journal to keep track of their past trading mistake so that they can learn from their mistakes. Learning from mistakes is the best learning.

One of the major problems a trader has with the market is that the market can choose which way to go, but the trader cannot!