Success in anything makes us happier and more contented people. This is the same for forex traders, when they are successful in their trades they are better people, more accommodating, merrier, and livelier.

However, when you are a failure at what you do, you become moody, dissatisfied, discontented, and feels unappreciated.

To be successful in the forex market, you need to really appreciate the market and treat it like your loving spouse.

This is because the market will determine how you operate in other parts of your life and will be your partner in your financial and investment dealings.

One thing you should always keep in mind is that the market can be your friend if you make it your friend.

You need to make love to it for a happier forex trading experience.

Be Passionate

You need to be passionate about your forex trading and everything to do with the currency exchange market.

You need to wake up every day thinking of ways to get more intimate with your market. Learn what factors impact on currency prices.

Follow up on market forces such as economic factors and political factors that have an impact on the performance of your chosen currency pairs.

Constantly do your research and use any free time to follow up on market actions.

Be Attentive

Just like any lover who brings you joy and happiness, you need to be attentive to the market. You need to constantly pay close attention to FX market news.

You need to closely monitor price action, especially for the currency pair that you trade in.

Be there when the market offers you opportunities for gain. If you neglect the market, you are unlikely to succeed as a forex trader.

K.I.S.S.

Keep It Simple Stupid! If you complicate how you relate to the market, you will confuse yourself and end up making terrible trade decisions.

As a rule of thumb, if you cannot explain your marketing strategy such that an average high school student will understand it, then you have over-complicated it.

If your price charts show five or more signals or indicators, then it is too complicated. If you are trading too many currency pairs, you are complicating your forex account.

If you usually have more than three open positions at the same time, simplify. A complicated view of the market leads to a loss-making forex account.

Spend On Some Gifts

The forex market can be at times difficult to read and you need to have the tools to really get all the benefits it offers.

Do not shy away from subscribing to reliable signal providers. These signals will help you interpret price movements in the forex markets and this will aid you in planning your trade entry and exit points.

Do not be afraid to pay for consultation with experts on how to best improve your trading strategy and take full advantage of the opportunities provided by the market.

You also need to realize that the market gives as good as it gets and in most cases bigger is better. Increase your earning potential by taking on some margin.

This will increase your input into the market and of course you will reap much higher profits by making this added investment.

Foreplay Is Important

You cannot simply approach the market whenever you feel like and get all you want without making extra efforts.

Before you are ready to make any trades, make sure you first do your market analysis. This will enable you to pinpoint where and when you can get the best returns from the market.

Use your charts and generate some signals so you are better positioned to gauge the mood of the market.

Wait for an opportune moment before you set up your trades. Stick to your trading strategy with all trades and you will greatly enhance your profit account’s profitability.

Cuddle When Inactive

What I mean by cuddling is that you should always keep the market close to you, even during those moments when you do not have any open positions.

Keep the market close by following up on political events and other news events. Be up to date on the economic situations of both countries represented by your currency pairs.

Be vigilant on any new situations that could change price movements as this will help you plan your trades the next time you want to set up a trade.

Be Monogamous

While it is possible for you to trade on multiple currency pairs, you stand a far higher chance of profitability if you stick to trading on just one currency pair.

Choose a volatile currency pair that will have dynamic price movements in either direction.

This will provide endless opportunities to either go long or short in your trades and make constant profits.

Master your currency pair and be very familiar with how the market impacts on it. Learn the best times to trade your chosen currency pairs so that you can plan your schedules around the best market times to trade.

Summary

If you love your job, you are likely to excel in it. Love the forex market and in return you will be rewarded with many opportunities for profit.

Photo credit: Kizzlim