What does profitable trading depend on?

Many beginners wonder why, despite all their efforts, they cannot succeed in stock trading.

What does profitable trading depend on, why does someone make millions on the stock exchange, and someone loses it there, what basic conditions must be met to make a profit?

Let's move on to an overview of the reasons that are the basis for profitable trading on the Forex exchange:

1. Skills - knowing which button to press to open a trade isn't enough to call oneself a trader.

The profitability of trades and the size of losses incurred depend on the amount of theoretical knowledge and practical experience.

2. Technical equipment - a good computer and a stable internet connection are essential to avoiding freezing of the trading terminal and connection interruptions.

3. The right broker is an important component; without this, you can expect unstable servers, altered quotes, slippage, and requotes. This isn't to say that reliable forex brokerage companies are completely free of all drawbacks, but you should at least choose the lesser of two evils.

4. Timing - first of all, avoid opening trades during times when losses are highly likely (weekends, holidays, news releases), and secondly, seize every opportunity to make a profit.

5. Risk calculation - although scalping is one of the most profitable Forex strategies, it's advisable not to use leverage greater than 1:50.

6. Help - don't rely solely on your own trading; always use third-party analytics, indicators, and Forex scripts. Combined with your own knowledge, this significantly increases your chances of success.

7. Money management - some people think that money management is only about setting stop orders, but in fact, this discipline encompasses many other aspects.

Profitable trading can only be ensured by a comprehensive set of measures for organizing and opening trades; simply clicking buy or sell buttons will quickly leave you without money.