How to become a Professional Trader

How to Become a Professional Trader 

Lots of traders who want to get big profits in the shortest possible time. However, sometimes the approach used to achieve this is not right. Some of the steps below may help novice traders change their mindset and make the right learning. To become a professional trader, here are the steps: 

The correct trading process

Become a trader professional trading starts from consistent results and trading skills that develop over time. So the first step that you have to achieve is the end result of trading that is consistent in a certain period of time, of course it must be profitable. You can achieve this without having to trade full time like most professional traders. The important thing is you must be disciplined in the time and effort you have planned for forex trading. A small account balance doesn't mean you can't trade with consistent results every month. If your initial balance is $ 500 and your target at the end of the month has to be $ 2000, of course this is difficult and less realistic. You don't have to push yourself with a big profit target. Even a professional trader who manages a large enough fund does not set a profit target that is too big but the target is consistent.

Mastering the basics and trading methods 

If you already know the goal of forex trading is not to get rich in a short time but to make regular and consistent profits, then the next step is to evaluate your knowledge of the basics of forex trading. Many traders have been in the forex market for a long time but still don't understand margins, leverage, lot size and more. If you want to get serious in the forex market, you should evaluate your knowledge of the basic rules of the forex world. You must really master before choosing and determining a trading method, because some of these standard rules are closely related to the money management strategy that you will apply. And if you have chosen the most suitable method for trading, use it in a demo account until you become proficient and accustomed to implementing it. 

Using an effective trading strategy 

What is meant by an effective trading strategy is one that is simple, uncomplicated, easy to implement and profitable. Simple means that there are not many restrictions or frequently change parameter settings, are not complicated with many technical indicators and are easy to apply in all market conditions, both trending and ranging. An example is a trading strategy with price action combined with support and resistance levels. The probability of this strategy to generate profit is quite high if used in the daily and H4 and H1 time frames because the price action trading method is not for the long term. In addition, there is also a need for a medium-term strategy with a swing strategy where the swing trading method rests on support and resistance limits. 

Test your trading skills 

This part is very important for newbies who want to become a pro trader. in the process of becoming a professional trader you must have discipline and order in trading. Maybe you can create a trading plan and a trading journal which will train you to be more disciplined with the trading system you have created. because you need experience and trading records therefore a trading journal is quite important. At this stage you have to ask yourself to test everything you know such as trading methods, management, trading journals and strategies. you use it in the demo square because this is important before you start a real account, then you have to make sure you fully master the basics of trading 

After you have gone through the above process step by step, the next test is on a real trading account which at this stage is a psychological factor that will be very influential. You must be good at maintaining your emotions when trading and remember the previous lesson in which you had to apply money management and trading based on the methods that you understand. 

Tips for running a real trading account

Realistic 

You have to instill in your mind an understanding that profit will not be as easy and fast as it comes as we think and you have to accept that fact. You must understand and accept the fact that the world of trading is not a solution to get rich quick, the more we understand this fact the more we can carry out our trading properly  

Patient 

Patience here is not just a matter of being willing to accept the risk of loss, but patience is being willing to wait for the right time to enter the market and trade based on a mastered method. This is the weakness of traders who want to quickly make big profits, namely a lack of patience. Traders who want to get abundant profits in a short period of time tend to over-trade and rush to take big risks. and violates his own trading rules 

Plan your trades carefully 

Trading planning is very useful because we can arrange a trading approach carefully and logically and calmly. The most important thing about a trading plan is that we do not enter a market where market conditions are not compatible with our trading system or our trading method. You could say this trading plan is another name for the trading system. because there is no detailed explanation of the trading plan but it is the same as a trading system where everything is integrated, such as strategy, risk and profit as part of management and trading methods such as analysis and entry points 

Controlling Emotions 

The biggest enemy of achieving success is due to our own actions, in this case, the emotional factor. Likewise in the trading world. What are the emotional factors that interfere with our goal of achieving success in the trading world? emotional things such as fear, resentment, and greed. and all of this is part of the psychology of factors where these factors are the main factors that cause failure. 

Some of the tips above can be advice for yourself to be more careful in this field. Forex looks easy but it is actually difficult to be able to generate consistent profits without planning. 

How to Develop Forex Trading skills

Traders who are more experienced will understand the importance of allocating enough time to master trading skills first, such as going through the process stages that have been written above. then do the calculation of profit and loss with money management 

The ways to practice forex trading skills are as follows: 

• Dedicate time every day to gain knowledge about forex trading; for example by reading articles on various websites atsu forex at foum. Know that the market is dynamic, and so is any information about trading. So, it's important to update information regularly. 
• Look for a good forex trading mentor. These mentors can also be found online. To find out which one is the best and how to contact him, you can explore the forex related forums. 
• Schedule a regular market review every trading day, or every week. For example, every 9am, every 1pm, every Sunday, or something. Use this time to analyze market movements using technical indicators or Price Action, even if you are just trading on a Demo Account. 
• Discipline is the key to success. Keep complete records of the transactions and analyzes you carry out. The key to practicing trading skills lies in ensuring that knowledge continues to increase, as well as learning from past mistakes.