You've got just ONE job as a Forex Trader - to make the DOUGH!
Sorry to burst your bubble, but cashing out from the Forex market doesn't come cheap.
Get it all wrong, and it's a fruitless rigmarole in a Bermuda triangle!
To cash out from the Forex market, you need to man up (or woman up) and show those freaking charts what you're made of.
Go ahead and unpack your strategies, deploy them like missiles, and catch the market by surprise!
That's the spirit, my friend! To trade and make consistent profits in your Forex Trading journey, here are some of the skills you should never take for granted:
1. Be Emotionally Disciplined
This is your ultimate test as a Forex trader.
It is your ability to remain loyal to your analysis and not chase every single candle or price direction you encounter no matter how juicy it seems.
Focus and trade with rock-solid discipline like a soldier! No deviation from your strategy even in the face of temptation.
2. Be Self-Confident
Leave no room for doubts and hesitation!
Believe so much in yourself that you already act like a winner even when your trades are still open.
This sounds crazy but it's the proven way to go!
Doing this will spike your belief and make you more emotionally disciplined.
3. Implement Smart Money Management Skills
By now, you should know that having zero ideas of how to manage your account balance will inhibit you from attaining your very important goal of profit smashing!
The lack of smart money management will not only stop you from hitting those blue pips you desire but also pile up some really bad losses for you.
Questions like: "what lot size should I trade?", "which leverage should I trade?", "how many pips should I set as my stop-loss?", etc., are just a few of the several doubts eliminated by smart money management.
To set your foot forward, check out this recording of our past webinar on Forex Risk Management.
What are you waiting for? Go ahead to commit to these three tips and begin implementing them right away!
Are you new to 7Bforex? Come experience the thrill of trading in the Naira currency by opening an account.
To commence this journey, we're offering you a free N10,000 startup bonus! If you are an experienced Forex trader and can prove your expertise, drop a comment below to be guided on how to apply.