Every newbie trader starts their journey to forex trading with an aspiration to make a profit from the currency market. At the begging of forex trading, they are struggling to make a profit from forex trade. Then they think it is not possible to make a profit from the forex market. But their idea is wrong because professional forex traders make a profit and grow their account balance regularly. As a beginner trader, everyone has a question in their mind why professional forex trader makes a profit but beginner trader did not. They think there a  holy grail that professional forex trader knows to make a profit from the forex market. A professional forex trader did not have the holy grail. A professional forex traders has proper education, knowledge about the market, and strategy to trade. A newbie trader thinks a magic trading system converts them into a professional forex trader. If anyone wants to be a professional forex trader then they need to follow who is a successful professional forex trader and how they are a professional forex traders?. There is no magic system to make a profit as like a professional forex trader. Time and proper approach of learning process made a newbie trader into a professional forex traders.

 

1. Think Realistically Not Emotionally

Professional forex trader set their trading goal realistically. They did not think emotionally that deposit $100 and convert it $10000 within a week. Forex trading is a business, any business in the world it is not possible to make a profit $100 into $10000 within a week. Professional forex traders operates their trading balance as a business and tries to grow their balance as business growth. They think it is very safe to make a profit of 30% per year. Their loss and profit depend upon forex market condition and strategy.

 

2. Develop A Forex Trader Strategy

A professional forex trader has a trading strategy. Newbie trader thinks professional trade use logarithm trading or robot trading and complex trading strategy that is not possible for them to follow. But Professional traders use only use basic analysis to develop a strategy

a.Fundamental analysis                          

b.Technical analysis                          

c.Sentimental analysis

Fundamental analysis:

The forex market is mainly moved by the fundamental cause of a country. A professional trader has knowledge about the factor to change a country’s economic condition. They analyze country growth or fall fundamentally. If they think it is good for a country’s economic condition then they trade the currency to buy a position. It is bad for a country then they trade the currency sell position. Fundamental analysis has many factors or data to the calculation to find the real pic of the economic growth. Professional forex traders can calculate the data to find the trade entry.

Technical analysis:

Fundamental analysis is a real factor to move the market but when the market moves it analysis by technical analysis. Technical analysis signals the position of entry or exit of a trade. A professional forex traders has solid knowledge about technical analysis to chart analysis. Chart analysis is one of the best skills for professional forex traders that newbie traders did not have.

Sentimental analysis:

Sentimental analysis is a complete picture of overall market sentiment or reaction by a trader. If fundamental news is released then what happened to the market or traders think about the news to entry into the market is measured by the sentimental analysis. It is a very complex analysis to trade in the market. A professional trader has the knowledge and experience to trade with sentimental analysis. Most of the newbie trade lose their money lack of sentimental analysis.

Never end learning

Professional forex traders always learn new knowledge and experience from the market. The forex market is dynamic. So, today’s knowledge is backdated tomorrow. The learning journey is never ended in the forex market. Always growing knowledge is one of the factors for a professional forex trader.

 

Conclusion

Forex trading is a challenging and dynamic business in the world. But the flexibility and volatility of this market influence people to trade in this market. Most of the newbie trade loses money for the lack of knowledge and follow the professional forex trader reaction in the market. Forex trading is not a short-term business to gets rich quickly. Forex trading is a business of patience and goes rich slowly. So, you must follow a professional forex trader rule to make a profit from the forex market. otherwise, it is very difficult to make a profit from the forex market and hold your account profitable.