Anybody can be a successful forex trader, But few traders are willing to do what it takes.
Profitable Forex trading requires discipline, commitment, and following some important guidelines like:
Do your homework - before you start trading, know everything there is to know about the market you’re trading in. Online forums like the TFT discord channel make it easy to meet successful traders &p; learn from them. This gives you a massive edge when you start trading.
“If you don’t know, then don’t trade.” - Josh ($180,000 payout)
Have a plan - Every successful trader needs a plan. This includes your goals, risk tolerance, and the strategy you’ll use to achieve those goals.
“You can have the best psychology but if you don’t have a profitable strategy, you’re still not gonna make money.” - Pat ($29,000 payout)
Start small - Trading with too much capital too soon can (and most likely will) lead to big losses. It’s better to start small & increase the size of your account as you gain experience.
“When it comes to trading I’m only on prop firm capital… so if I have one good payout, it literally cancels out any funded account that I’ve blown or any challenge I’ve failed.” - Austin ($7,400 payout)
Stay disciplined - Stick to your plan, even when things are going against you. It’s only natural to want to bail out when you’re losing, but bailing often causes even bigger losses. Stay disciplined and you’ll increase your success in the long run.
“If you stay persistent, the market will reward you!” - Mark ($22,000 payout)
Protect your profits – Once you’ve made some profits, it’s important to protect them. One way to do this is by using stop-loss orders. This limits your losses if a trade goes against you.
“Be disciplined. Risk slow, protect your capital, and keep moving.” - Bruno ($12,000 payout in TFT)
Our goal at TFT is to ensure that all our traders are successful. These may seem basic, but these are the most important guidelines to becoming a successful trader. Follow them, and success will come.
Best of luck trading!