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Thread: How will you Define Success in Forex?

  1. #1
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    How will you Define Success in Forex?

    Hello

    I have been trading Forex for many time and some time i get loss and dome times i get Profits

    How will you Define Success in Forex?


  2. #2
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    I'd define it as making a shed load of money!

    Confluence: 'A gathering together'
    On my way to the top baby!

  3. #3
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    Quote Originally Posted by SarahMaroc View Post
    I'd define it as making a shed load of money!
    Ha! Well that is certainly one way of putting it!

    I'd put it this way: A trader is always going to have losses; that's just part of the business. So with that fact in mind, I'd define Forex success as finishing a prolonged period of time in positive equity. In the process you should have also limited your risk and not had any large draw downs.

    The positive equity which you've got should be enough to justify the riskiness of Forex over other safer investments such as 'government bonds' which can yield 5%+. To justify this risk, I'd say a return of 30% over a year is good.

    I also think everybody should evaluate their success on the percentage of the account gained, and not so much on the following:

    1. How many positive pips you came out with (though this can be important)
    2. The dollar amount you came out with over the year. The reason I say this is because if you have a small account and aim for a dollar figure, the chances are you'll be aiming at a 300% initial investment increase on the year. This is not realistic. Yes, it happens, but it's not what one should be striving for as if you do, there is an overwhelming probability you'll wipe out your account. Strive for that solid 30%.


    Just my 2 cents


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  5. #4
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    I'll throw my agreement in with Uncle Buck here, I think he's made some solid points.

    Trading is a science of uncertainty and an art of probability.

  6. #5
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    The road to trading success is a long, hard, winding road, with many potholes, false turns and dead-ends. Sorry, but that’s a fact. There is no holy-grail trading solution.


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    Get 3-5% per month and 20-30% per year through at least 3 year, that's the way I used to define successul in trading.


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    When your profit is more and loss is less than it you are successful trader because you are not loosing your actual amount ,you are getting profit over it , growing it or enjoy the earning. You can then understand market movement easily . Some effort can bring good results for you . You can manage your account well .


  9. #8
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    Very simple. You are successful in forex when you are in profit. As simple as that.


  10. #9
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    I agree with that, When you are in successful in Forex and earning well from it you going on profit.Its only on possible when you get proper Forex Education and learn how to analyze Forex market and well practiced in Forex trading on demo accounts.

    Learn Forex Trading and Forex Education.

  11. #10
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    I think you can only succeed in Forex if you have great level of education and knowledge about Forex. So you can learned a lot about Forex from different channels.


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