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kingston

How long does it take to become a successful trader?

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No any trader can become a successful trader over a night, it requires good experience with accurate skills and powerful mind to trade in such an volatility market like FOREX. For a new user Demo account is route towards successful trade into real market.

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No any trader can become a successful trader over a night, it requires good experience with accurate skills and powerful mind to trade in such an volatility market like FOREX. For a new user Demo account is route towards successful trade into real market.

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On 6/28/2018 at 4:33 AM, CrazyCzarina said:

Learning is the only way you can be successful in this business. There is no other way or system which can make you rich within a few days.

This is an absolute truth. You will not become a millionaire in a week. That doesn't happen in forex if you are a small fish like most of people here. Be patient and study as much as possible.

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there is not time line to success, some would take months, others years, at most its a constant continues process of struggle, I have been trading a hotforex account for 8 years now, and i dont think im close to what people call successful, but im happy with what little i make.  

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On 4/8/2020 at 2:39 PM, anthonyconstantinou said:

Successful trader is a myth. Everything depends on time and circumstance, also the behavior and approach used by the trader. Right time trade and right judgments can make all difference in winning and losing. 

Wise words. Completely agreed.

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2 hours ago, aimhi said:

Going around through all fundamentals does not guarantee of becoming successful in my opinion.

Agreed. Complementary (in)formation is required. And never forget the emotional aspect of it. Dealing with emotions is the toughest part.

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On 9/21/2020 at 3:45 PM, aimhi said:

Without a proper trading plan, forex trading is much similar to throwing the darts in the dark.

Yeah, correct at least it has to be clear for you, why you placed some particular trade. Every step should be at least logical for a trader. 

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    • Date : 6th December 2021. Market Update – December 6 – Stock futures rise, Oil bounces. USD (USDIndex 96.36) up , as Treasuries benefited again from the flight to safety, and as some of the oversold conditions from rate hike worries were pared. Stocks struggled after a lower close on Wall Street Friday, USA100 down over -2.0%, USA500 -0.84% to 4555 & USA30 up to 34784. Investors try to sort out the big risks from monetary policy, along with renewed uncertainties over covid and the Omicron variant hitting, and now with renewed restrictions, all the while pandemic supply/demand dislocations continue with varying impacts on growth and inflation. And the US mixed jobs report topped off. The earnings season has wound down, but worrisome guidance from some big tech firms. Traders keep a close eye on this month’s round of central bank meetings. Chinese Premier Li Keqiang signaled an easing of reserve requirements and China’s securities watchdog tried to play down fears over the withdrawal of Chinese companies from American exchanges. US Yields 10-year rate is up 4.4 bp at 1.39%. UK 10-year rate lifted 4.4 bp to 1.39%, while bond markets across the Asia Pacific region were supported and the the 10-year JGB rate down -1. 2bp at 0.036%. USOil – steadied below 200-DMA at $68.00 – recovered from $62.24 today -rose on positive sentiment after top exporter Saudi Arabia raised prices for its crude sold to Asia and the United States, and as indirect U.S.-Iran talks on reviving a nuclear deal appeared to hit an impasse. Gold at $1780 area, as Treasury yields soft, unwinding some of the November selloff as it was seen as overdone, and as investors move back into haven trades as angst over an aggressive Fed policy posture abates and inflation concerns ease. FX markets – EURUSD dropped back to 1.1279 and cable to 1.3225, USDJPY lifted to 113.11 & Cable steadied to 1.3328. Antipodeans bounced. European Open -The March 10-year Bund future is fractionally higher, while US futures are in the red, although in cash markets, the US 10-year rate is up 4.4 bp at 1.39%. Asian stock markets also traded mixed and sentiment is likely to continue to continue to fluctuate. GER30 and UK100 futures are up 0.9% and 0.8% respectively and US futures are also posting broad gains, amid some hope that Omicron may turn out to be more infectious, but less deadly than previous strains. Today – Today’s data calendar had German manufacturing orders which plunged -6.9% m/m in October, much more than anticipated. BoE’s Broadbent speech is also on tap. Biggest FX Mover @ (07:30 GMT) NZDJPY (+0.97%) Currently MAs flattened, MACD signal line & histogram below 0 and dipping, RSI steadied at 45, Stochastic declines. H1 ATR 0.138, Daily 0.91. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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    • You should never give in to the rumors as it could lead you to bankruptcy if it isn't true.
    • Yeah, and you should never stop learning. If you wish to survive in the Forex Market, the only way to do it is by learning all the time.
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