The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. So, what are your chances of succeeding as forex hedging strategy guaranteed profitable business Forex trader?
This is a very important question that deserves some logic-based discussion, rather than the vague general statements that we so often read on the internet. This is a very important question with far-reaching implications. However, consistently making money is a different story, so over the long-term there are going to be fewer traders who have made money than who have lost money. When your expectations are more in-line with the reality of trading, you will have less desire to over-trade, and you will feel less desire to trade large position sizes as well. Since you feel no pressure to rely on your trading exclusively for income, you release most, if not all of the emotional attachment to your trades and to the money you have at risk. This is a very important point that has far-reaching implications on your success as a trader.
So what are your Chances of ACTUALLY Making Money as a Forex Trader? Ok, now let’s get down to some actual facts and figures, so that you can see for yourself what your approximate chances are of making money as a Forex trader with an effective Forex trading strategy vs. So, let’s first look at what it takes to be a break-even trader in terms of risk reward. I often discuss the power of risk reward in Forex trading, and for good reason, it is a concept every trader must understand and it is the best way to see how letting your winners out-pace your losers makes successful trading easer to achieve. However, risk reward is not the only thing that makes a trader profitable over the long term.