Forex trading attracts individuals because you don’t have to go to college or graduate to be successful. It is a priori activity open to all, but yet the vast majority of retail traders lose money on the forex.

Indeed, while degrees are not required, learning and understanding the basics of the stock market and the tips to read Forex news (สอนวิธีดูข่าวForex, which is the term in Thai) is essential for success in the forex market.

Aside from the theoretical and practical knowledge of the stock market, here is a non-exhaustive list of the skills you will need to achieve your goals in the forex market:

• Self-control: to accept a loss without getting nervous.
• Self-confidence: to believe in yourself and your trading strategy and not be afraid.
• Dedication: to become the best forex trader possible.
• Discipline: to stay calm in a realm of constant temptation (the market)
• Flexibility: to successfully negotiate changing market conditions
• Organization: to forge and strengthen positive trading habits.
• Patience: to wait for the trading signals most likely to be successful.
• Realism: to keep goals achievable and not be disappointed, don’t think you’re going to get rich quick.

It should be noted that discipline and organization are often the factors that forex traders who lose money on the stock market lack.

Rules To Avoid The Pitfalls Of Trading On The Currency Market

Here are some basic rules to follow so that you don’t get kicked out of the forex market before you start making consistent profits.

• Do not overlook the importance of training: Any new career, whatever it is, begins with training. Take the time to train yourself in forex trading and master the different concepts and strategies.
• Practice on a demo account: Start by practicing on a virtual trading account to test the platform, get used to analyzing charts and placing stock market orders. This step should not last more than a few weeks to a few months; it only serves to master the basic concepts.
• Increase position size over time: The more you trade, the more experience and confidence you gain. You can then start to gradually increase the size of the positions and aim for more substantial gains.