Nowadays a lot of new Muslim traders are joining the trading community. In Islamic forex trading community those new traders don’t have that much experience that’s why sometimes they feel low. After losing money in fx trading they feel frustrated and the think that they should not be doing forex. In short, they feel too low at times that they even think forex trading is not the right job for them. But this is a huge mistake for any new Islamic forex trader. Nowadays many brokers are proving the facility to the Muslim traders so that they can do the trade without giving any swap. Swap-free account means they are making money in the forex market in a halal way. So never feel low after losing some few trade since you have a halal way to make money.
Sometimes they feel trading is a really hard because they lose too much money. After losing money they think how to recover it since they don’t know how to trade the market properly. You need to understand that only a few percentage of trader can make money from fx trading. So if you want to be a profitable trader and want to do trading for you living than you have to adapt few things. A lot of successful traders also feels that situation. Every single successful trader knows that feeling when they think they cannot make money from this fx trading. But they don’t make it a big deal. They stick to their strategy and learn how to make become a successful trader. They overcome their fear and learn how to make money by trading. So if you are in this market you should also learn those things that the professional traders learned by their strong determination. If you practice properly you can also become a successful forex trader. Today we are going to share some tips how you can be a successful trader in this forex community.
There are few and very common mistake that most people make when they doing the forex trading. Those common mistakes drawback them from making money from fx trading. If you want to be a profitable trader you need to work on that mistake then you can easily make money from this market. People don’t see straightly in their mistake, they try to figure why they did mistake after a losing trade but the main thing is they need to look forward and inward to find out where they make mistake in their trade. They need to figure out which reason really matter. If they figure out which draw them back and work out on it then they can eventually make money from this market.
Most people who lose money in fx trading they blame the market for their losing trades. They never blame themselves for losing trade. They cannot admit that the mistake is made by them and to be honest, if there is someone to blame then it’s only you. Most of the time the problem resides in you. The first thing you need to do is to bring positivity inside you and learn how to embrace loss. Nobody is perfect so accept your mistake. Admitting your mistakes is one of the hardest things but you need to really work on it. If you can admit what mistake you made then next time you will not do that mistake. The moment you will learn from your mistake is the very moment you start making a profit in the forex market. Trust me every single trader in the world made mistakes. Nobody is perfect and everyone and you ought to accept your losing orders in the market. Trust me every now and then all successful trader also have losing trades but they manage their losses in the market in a very precise way.
You need to have an honest conversation with yourself about your trading and find out which mistake you are making in your fx trading. Ask those question to yourself and then find out all the answer. Be honest with yourself and figure out your mistakes.
There is some few question that you need to ask yourself before you expect to make money by trading the financial instrument. First, you need to know whether your trading strategy is working out for you or not. Can you do the perfect analysis or you are just losing in all single trade? Is your strategy profitable or you are losing money due to a bad trading strategy. If your strategy is not working for you then need to change your trading strategy right now. Some traders might have the perfect trading strategy but still, they might struggle hard to make a profit. This is only due to their lack of trading discipline. They enter the market without having proper logic behind the trade. They think they need to be always active in the market. Fix it if you have that problem also. Don’t just waste your time rather trade when you see a valid trading setup.
The second thing you should ask yourself, are you gambling with your money? Ask yourself trading is not like gambling. You have to be patient to be a profitable Islamic trader. Be patient and look for valid setup in your mt4 platform. If you are looking at the mt4 platform in 5 minute or 15-minute chart then you won’t be able to take high-quality trades in the market. This is one of most common mistake that every new trader do. Most of the time Lower time frame give the false signal in the market. So if you are doing trade in lower time frame don’t do it next time.