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Skill the most important in forex - page 3

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mlawson71:
I couldn't have put it better - if you want to trade it's best to learn to control your emotions as much as you can.
It is not the emotions that are the most important. Yo can control your emotions as much as you want if your trading decisions are wrong
Skills are required in each and every field. Without the acquired skills you cannot earn required profits from your business.

the most imporatant skill is psycology for sure.  สอน forex

fufighter:

the most imporatant skill is psycology for sure.  สอน forex

Psychology is very important, but it's not enough though. For all of one's calm, if they lack knowledge, they still won't be successful.
The most important skills are art of waiting and sober reaction on everithing that is happening. Also you have to dedicate a lot of time and nerves to atchive smth.
The most important thing is luck - and then using the money that you gained by luck wisely
I also think that the key to success Is more of a complexity of qualities and skills that you should possess.
Forex is very volatile market and it´s highly unpredictable. Therefore It’s necessary that everyone who decides trading Forex to be well prepared, to possess solid knowledge base and experience.It is crucial to build and improve your trading strategy before you have started investing real money. Also it is important to be very consistent, disciplined , focused and patient.
The emotional intelligence is а leading quality as well, you should be able to control your emotions and fears in order to prevent inconsiderate and rash decisions.

Well said bonifaas_abe. I do agree with all qualifications that you listed in your comment.

Allow me just to add one more – informed. I think that the information for upcoming events have a key role.
bonifaas_abe:
...Forex is very volatile market and it´s highly unpredictable...
Which market would be predictable or highly predictable in your eyes?
krelian99:

There are three crucial parts in forex, if only one fails, everything fails:

  • - a winning strategy and much experience
  • - money management (risk/reward and dynamic lot size)
  • - consistency (psychology and the law of big numbers)

[...]

Newbies change good strategies very quick when there is a drawdown. 

Hello @krelian99 

i think this is truly the essence of being successful in the long run. some german traders also add statistical and seasonality calculations and often other fundamental analysis to their trading. in my 2 years of experience i didnt really found a winning strategy on chart analysis only. perhaps i am still a newbie and too inconsistent.

do you have any recommendation for a simple (comprehensible) winning strategy on chart? i'd like to say it's only my fault and i need more discipline to reproduce a positive outcome. i have never found a system to trust to begin with. +__+

 sincerely myrx 

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