Behind every successful trader lies a very solid forex trade system. A system that are able to profit on each and every month. These traders have trained for very long period of time and have developed something that not everyone is having. This is the thing that can make one become a successful trader.
That will be patience and discipline. So many people are lack of patience and discipline that research showing that 90% of the forex traders are losing money. They tried the system to found out that it does not work and they tried to change the method of trading every time they tried to trade. A professional trader will follow the forex trade system strictly throughout a period of time. They will determine the success rate of the system and decide on whether to improve it or use it.
There is never a forex trade system that can perform 100% winning rate trades. There are bound to have a few losing trades here and there. A good solid system will minimize the loses and rides the profits. It will have a good risk management system that can make every trade profitable.
Trading with emotions is a killer. A person holding a winning trade could be overtaken by greed and lose the trade. He holds the winning position and expecting it to rise and get an even bigger profit which in the end causes him to lose because the price has moved enough and reversed.
It is the same for fear. A person who is fear of losing more will continue to hold a losing position and hope it can break even or even win. This will cause the trader to lose more money as the money continues to move.
A person can be having one of the most solid forex trade system in the world, but 2 simple things will kill the trader and simply just make the system useless.
That will be greed and fear. Opposite of this is what I have told you about successful trader and their qualities that they trained for so long. That is patience and discipline.