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How to become a successful trader (Step by Step)

How to become a successful trader (Step by Step)

To become a successful trader, you need to follow a certain process.

If you don’t follow this process, you have almost no chance of success…and that’s why about 90% of new traders ultimately fail.

If you are ready to work but not sure where to start, here is a guide.

This is a tried and tested method that has been used by countless traders over the years.

Follow these steps if you want to be a successful investor:

  1. Learn the basics about your market.
  2. Choose a strategy you like.
  3. Create a Trading Plan
  4. Backtest your trading plan.
  5. Your trading plan should be tested by forward testing.
  6. Keep a trade journal and improve.
  7. Start trading in real time.

Let’s get into the details now that you have the basics down.

You can learn the basics of your market

Learn the basics about the market that you are going to trade.

Learn about the following:

  • What is being traded?
  • How to make a trade
  • Transaction Costs
  • Gain/loss per minimal price movement
  • Both long and short can be placed

This course is for beginners who are interested in Forex trading.

Other markets are also being considered for guides, but I think the concepts will be similar.

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