• Nial Fuller

    NIAL FULLER Nial Fuller
    Professional Trader, Author & Coach

    Do You Really Have What It Takes to Be A Forex Trader?

    “Attention traders, Welcome to your first day of Forex trading boot camp, if you are not prepared to do what it takes to become a successful Forex trader then please pack your bags and go home now”…

    Sergeant_HartmanToday’s trading lesson is going to revolve around one simple question: “Do you have what it takes to be a trader?” Whilst I firmly believe that anyone can learn to trade successfully if they want it bad enough, it’s also true that there are certain skills and abilities that one must be willing to develop before they can become a successful trader.

    If you’ve followed my blog for a while you know that I don’t sugar-coat anything, and today’s lesson is going to bring with it an extra-large serving of honesty and insight that will make crystal clear what you need to do to become a successful trader. So, dig deep and put your thinking cap on, and when you’re finished reading leave a comment and let me know if you think you have what it takes to become a successful price action trader.

    Do you have what it takes to lose like a pro?

    That’s right; the very first question you need to answer honestly is “are you ready to lose like a professional trader?”…Because you ARE going to have losing trades. So if you don’t want to fully accept that fact right now then you better stop wasting your time in the markets. If you accept that you are going to lose trades, then the next step is to figure out how to deal with the losses by integrating losing into your trading plan…in essence you have to figure how to lose trades properly.

    The key to losing properly is to make sure you manage your risk properly on every trade by never risking more money than you are prepared to lose and also by not over-trading. If you do these two things consistently you will have a much lower chance of becoming emotional after a losing trade and impulsively jumping back into the market to try and “make your money back”.

    Traders who try to fight against losing trades by trying to “avoid” them, inevitably end up losing more money than those traders who man-up and take the losses like a big boy. So, if you are ready and willing to accept the fact that you are going to have losing trades, then I invite you to proceed to my next question…

    Do you have what it takes to have patience in the face of constant temptation?

    Think about that point for a minute…‘Patience in the face of constant temptation’…yes, that’s essentially what successful Forex trading requires. It’s like having a fully-automatic AK-47 with your finger on the trigger and only being able to shoot 4 or 5 bullets a month…most people are going to fail at that task. So, are you ready to man-up and dig deep and refrain from firing your gun (entering the market) until a painfully obvious price action setup shows itself? Or are you just going to give in to that temptation and start shooting all your ammo away at everything you see? Your ammo is money, and I assume your money is a limited resource, so don’t waste it by trading just because you “want” to be in a trade. Instead, you need to have the patience to wait for only high-probability trade setups that meet the criteria you’ve predefined in your forex trading plan. So, if you think you have what it takes to look temptation in the eye and not succumb to it, then proceed to my next question…

    Do you have what it takes to remain in control of your emotions?

    emotionsIn other words…are you going to trade like a calm and collected professional, or are you going to give in to each emotional temptation like a 4 year old? That might sound a little harsh, but many traders have absolutely no emotional control in the markets, they are like drunks at the casino…that is until their money runs out. If trading is nothing else, it is the ultimate test of one’s self-control and of their ability to remain objective while their money is constantly at risk of being lost. I’ve said it before and I’ll say it again; the easiest way to make sure your emotions do not get the best of you in the markets, is to NEVER risk more than you are comfortable with losing on ANY trade, and NEVER over-trade. Not risking more than you should is pretty self-explanatory, but not over-trading involves mastering your Forex trading strategy to the point of having NO DOUBT of what you are looking for in the markets, as well as having a Forex trading plan and trading journal that you actually use. So if you are ready to put on your big-boy pants and put an end to your emotion-fueled trading binges, then proceed to my next question…

    Do you have what it takes to be disciplined and organized?

    Let’s face it, you’ve made attempts to get organized and to be disciplined before, but you quickly got off track or gave up. This happens to most people, whether it’s in regards to going to the gym regularly, eating healthy, or trading, most people just seem to lack the internal mechanism to follow-through with being disciplined and organized. When it comes to trading, if you do not make discipline and organization a part of your daily trading routine, you open the door just a little bit wider for emotional trading to sneak in and ravage your trading account. It is up to you to do everything you can BEFORE you start trading with real money to eliminate any chance of getting possessed by the demons of emotional trading. Forging the habits of being disciplined and organized will work to reinforce positive thinking and the proper trading mindset within you, so if you think you have what it takes to become a disciplined and organized trader, proceed to my next question…

    Do you have what it takes to become a trader instead of a gambler?

    Many traders end up gambling in the markets rather than trading. The markets can be an excellent vehicle for you to better yourself through, by learning to control your emotions and becoming a more disciplined person. However, they also offer people with addictive personalities a great place to do an immense amount of financial damage to themselves. If you have had gambling problems in the past or have an addictive personality, you need to move past these issues and develop a professional mindset and see the long-term picture, OR you will end up becoming a trading addict constantly needing a ‘fix’ from the market. So, are you ready to become a skilled trader instead of a gambler?

    Do you have what it takes to swallow your ego and not try to control the market?

    News flash: the ONLY variable you can control in Forex trading is yourself. Whether you want to believe that or not, it’s true. You can’t control other traders or their reactions to news events, you can’t control Ben Bernanke, and you sure as hell can’t control a bank trader on the other side of the world trading position sizes that would probably make you pee your pants. Stop trying to make the market do what you want by moving your stops and targets all around after you enter a trade, unnecessarily adding to positions, and manually closing out trades only because the market moved against you a little.

    Instead, learn to trade with the market and let the market structure dictate your decisions. Learn to read and trade the price action in the market and stop reading 5 different economic news websites trying to “figure out” what’s going to happen next. Focus on reading and trading the price action on your charts and on controlling yourself, if you are ready and willing to accept that you can only control yourself in the markets, then move on to my next question, if you still think the market cares about you or that you can influence what it does in anyway, then it’s time to pack your bags…

    Are you prepared to put in the hard work, study and practice?

    have-what-it-takesBecoming a successful trader doesn’t happen overnight. It takes study, time, and practice, and you aren’t going to just buy a trading system or trading course and then wake up the next day with piles of money next to your computer. Instead, you have to actually commit to one effective trading strategy like price action, and REALLY learn it…master it. Don’t mess around jumping from one strategy to the next; pick a strategy you like and then “fall in love” with it. If you have given a particular strategy or system a solid try for a period of about 6 months or more, and you aren’t having success with it, then move on, but don’t be that guy who trades 5 different trading strategies at once thinking that they will somehow unlock the “secrets” of the market.

    You also need to be prepared to demo trade and pre-empt your trading routine, you need to simply do the “hard work” before you start trading live, so that when you begin trading with real money you don’t have any big surprises or questions. Remember, by pre-empting and getting ready before you start trading live, you largely eliminate the potential to turn into an emotional trader or a gambler. So, are you ready to do put in the necessary work, study, and practice?

    If you are still reading this article and you think you have what it takes to really commit to this and become a successful Forex trader, then come join us in my price action traders’ community and learn with other traders who have accepted the challenge. I only want people joining my trading community who really believe they have what it takes to succeed in trading. So if you are ready to face the obstacles discussed in this article, and overcome them, then come and check out my Forex trading course and members’ community.

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    Nial Fuller

    About Nial Fuller

    is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
    Nial Fuller Professional Trading Course Preferred broker 2020 v1
    1. Благодарность

      Hello Mr. Nial! excellent article! I consider everyone can become the successful trader, the main thing is powerful motivation as Mark Douglas treydor has told arent born them become, it is just necessary will learn to constrain the demons, thanks for your works!

    2. Bongani Muthisi

      Reading articles at LearnToTradeTheMarket.com is like been given an opportunity as a novice trader to look inside the mind of a trading general to pick his brain on how to go all about it. With high levels of perception, conception and apprehension backed by the ability to make one’ self do exactly what you saw inside the veteran’s mind – Success is inevitable

      Trading is really simple although not easy. Trading is more about the trader than it is about the markets. Sir Nial Fuller, your concepts and perspectives on trading have shaped me and set me on the right course. Whether I make it or I don’t make it from here onwards – it’s really all up to me. God willing, I will find you and introduce myself to you in the years to come. You’re the best trading gift any trader can have. Thank you once again Sir.

      South Africa.

    3. Thabo Ntshisi

      Good day Nial

      Thank you again for the challenging information, once need to do a pro-inspection to see is it good for me or not.

    4. Luca


    5. Nabs

      Excellent article

    6. yaz

      hi..thank u nial,your trading lesson is really working for me..

    7. oykunle

      Well ur lecture always strike my mind and it,s wen i join ur community dat my craziness toward forex is getting suppressed, bcos i think its arena or empire of making million overnight and dis my believe makes me lose a lot of money in forex market.thank u again and again 4 ur constant response and more greeze to ur elbow.more so i appreciate ur elaboration on support and resistance.

    8. Julie

      Nial, your articles are eye-openers! I’ve made mistakes over and over and have kept wondering how to overcome them; thank God you’ve listed major issues I have to deal with here. I’m sure my trading will improve for as much as I stick to my guns!! Many thanks…

    9. sami

      good.well.it is very good.can you give more guide line.i visit this website also.

    10. Jan


    11. Gurpal

      Hi Nial,

      Hope you are well. Thank you for sharing another terrific lesson.

      Thank you for all your help

      Thanks and Regards


    12. Suresh

      This article confirmed which I had in my mind. Earlier I had losses and I couldn’t manage it. Now I think if I lose trades continually I should stop risking more money and I should correct my mistakes by taking responsibility of all my trades and start it again with new plan.

      Thank you for your articles.

    13. Mircea

      All you said in this article i believe is key to being a good trader so thank you Nial for helping newbies like myself see if they have what it takes to be a trader and leading us on the right path. Best of everything to you and keep it up. G’day

    14. The Big A

      Great Article Nial,Only with your guidance have I been able to lose the “gambler” mentality.I’ve executed 9 trades only this year to date,but most were successful & my account is growing.Thanks again for instilling real discipline in my head,the only way to survive in the forex jungle! Best Regards-Andrew T…..

    15. Michael

      Thank you Nial for all your help,Just trebled my small account in my first year with course,patience is ever thing in trading.

    16. Todor

      I say ‘yes’ to all questions which means you’re a very good mentor!
      Many thanks, Nial!

    17. Larry


      Like my Basic Training some 50 years ago … it sounds like P & D are vital keys! But aren’t Patience & Discipline = keys to success in all we do!!!

      Thanks for the reminders!!! Larry

    18. Arthur

      Fantastic lesson mate! This will be my “gut-check” read before I open the charts. And yes, I do have what it takes to be a professional trader, thanks to your course. Thanks a million! (Dollars that is) LOL

    19. moneer

      I started to learn forex when i was 16 years old (three years ago) but i only started to see things clear after i followed your website. i did every thing you said to 1-i have a trading plan 2- trading journal 3- R\R always 1:2 4- i trade on the ten pairs you said to 5- i trade only on the daily charts , and the most important : i have NO DOUBT of what i am looking for in the markets ,and my R for every month since the last JULY never get under 2 . your articles made me see what the market is really about .thank you and i am looking for more

    20. Ramli



    21. pclane

      I get it Nial thanks to you and your course.Just have to follow your course to the letter as you go to great lengths to explain what is required.

      kind regards Peter

    22. Anton

      Years of experience , trading wisdom and patience with us -this is what I feel . Thanks Nial for another excellent article.

    23. Peter Miller

      Another timely reminder what not to do and what to do properly. Best mentor ever without a doubt. No other service offers you such consistent and great advice.Got my big boy pants on and ready to rock.
      Thanks Nial

    24. Sher

      I have been trying really hard to be disciplined and follow my trading plan, it goes well for a while and then I fall off the wagon, but I am not giving up. I know this is my year. Thank you Nial, well done


      Dear “Prof” Nial. You have again given us what it takes to be a serious and successful trader. These are the reasons why many people continue to loose money daily, thinking that trading is a scam. Following you as your disciple as shaped me for greatness in the currency trading.Thank you my forex Professor.

    26. PawPawRu

      Nial, Many Thanks for your free articles. Because of these articles I became convinced that I needed to be a part of your group and joined last week. The above article covers all that is needed to overcome ones’ psychological subconsciousness that the mind plays with many traders. No, it is not easy to overcome some of these challenges, however with your course also including the psychological factors, one knows what he/she NEEDS to accomplish to get on the right path to successful trading. No, it will not happen overnight! Habits are formed by doing them consistently every day. With True To Yourself Dedication forming these daily habits, within 4 to 8 months, (read that someplace,) it becomes a natural part of yourself, your conscious mind and your subconscious mind. At that point you do not have to even argue with the tricks your mind plays with you. It is now a HABIT, which is now natural to yourself.
      I have accomplished this in some parts of my life, but not in trading yet. The countdown begins with no set timeline.
      I will know when it is part of me through following your course. Thanks for your Generosity and not sugar coating anything. None of us needs to hear sugar coated lessons. It gets us nowhere.
      Again, Many Thanks

    27. Dim Kingsley

      This is a masterpiece from an erudite and seasoned professional. You have become a shining light to my path in Forex trading. More power to your elbow.

    28. Richard Yeboah

      This is something I can’t forget,is amazing and I have learn alot,I have now know that trading is all about controling your feelings.I s a very good message to me and those who really wanna be in trading.Thanks

    29. Gary

      After reading through this article and several of the related articles, I can honestly say, ‘No, I do not have what it takes to be a trader’. Not yet anyways! I have been following the leads of other mentor’s strategies for over a year now, and none of them have worked for me. Based on all of the valuable information in your articles, I have decided to start over and commit myself to following your lead. I will start by going through your course of materials, drawing up a fresh trading plan, and continue to read through your daily blogs. Thank you so much for all that you do… You have an outstanding way of presenting yourself in the material that you write!

    30. Bhupinder

      Another brilliant lesson, i believe and accept every word in this article. I truly believe that success will follow as a trader if we embrace all of Nial’s poins and views mentioned. Thanks for all your help Nial.

    31. Lester

      I equate losses to routine expenses any successful business encounters. Enjoy reading your stuff—-reinforces the good. To reinforce my commitment and to answer your question, “Yes, I have what it takes”. Thanks again.

    32. Richy

      Wow Nial! I joined LTTTM 2 years ago as you know and while not an alternative to the actual forum and course, I still read your free weekly contributions to the world community of traders (and aspiring traders). You certainly said a mouthful in this one! Thanks again….richy

    33. Samm

      Best article on Forex Trading Psychology,,from a Great teacher.Thanks sir Nial,,,,

    34. Daniel Howard

      With self control, the use of stops, proper money management, and the use of price action wisdom by Nial, there is no reason why we should not be profitable.
      Thanks Nial!!!

    35. AMIN MALIK

      Thank you NIAL, Thank you so much.Your consistently honest
      efforts have already made most of us a better Trader and
      will,sure,make many more in future.Though difficult,but,
      not”IMPOSSIBLE”.Please keep posting.You are simply GREAT!!!

      Kindest REGARDS, AMIN

    36. Mohammad Kavoshnia

      Thanks Nial,

      This article and the previous one the”Holy Grail”have
      made me choose a fixed strategy.Trading on “D1” and being
      patient will certainly make a profitable FX trader of me.

      Warmest regards

    37. Paulette

      again – one of the most timely articles by Nial. We have the strategy, we know what we need to do in all aspects… I know I have the “balls” to act with discipline and patients, I am being tested in every way this last 3 weeks in these markets.

      Appreciate the gems you send out Nial.

      Thanks mate

    38. Filopastry

      Need to fly on my own now. To see if I really can do it.

    39. Sanjay

      Ask me these questions prior to joining LTTTM and I would of answered NO to all.

      Now its a different story.
      I have a trade plan as if it was built by kings.
      I have a daily routine that screams discipline and focus.
      I approach the markets making the very least decisions I have to make.
      I have a unquestionable belief in my intuition to serve me well.

      Trading is Bliss.

      Thanks you Nial for this gift.

    40. stuart nurse

      Many thanks again for another great lesson. The amount of confidence i take from the content of this kind of lesson is brilliant, when i first started live around 6 months ago i just kept losing and i didn’t know where to turn- i felt ‘a mess’ But since i found you and then joined your course i have made back my loses and now feel happy that the next 12 months will be another improvment- however small. I have also learned to ‘enjoy’ the feeling of patience.
      Thanks again, Stuart.

    41. David Davies

      Great article, if I could have read it 12 months ago I might have avoided wiping out an account of several 1000 pounds!!

    42. Sanjay Hallan

      Ask me these questions prior to joining LTTTM and I would of answered NO to all.

      Now its a different story.
      I have a trade plan as if it was built by kings.
      I have a daily routine that screams discipline and focus.
      I approach the markets making the very least decisions I have to make.
      I have a unquestionable belief in my intuition to serve me well.

      Trading is Bliss.

      Thanks you Nial for this gift.

    43. Thomas Sebastian

      Absolutely truth in what you have said “The truth will set us free to become winners”. Thank You

    44. Henry

      Good talk Nail. I just got faced with reality.

    45. Vanessa

      Thank you Nial – brilliant as usual! 2011 was my first year in the market and following your training I came out with a small profit – big enough to be 3 times what the banks boast they could give me if I save with them haha. And that was my learning year! Bring on 2012!! You are genuine, honest and true. God bless you.

    46. samuel

      Thank you and well done!

    47. Tracy Stevenson

      Love one method of trading and have the patience to stick with it….soooooooo true!! Thx, Nial.

    48. peter

      7 must read keys to success in trading. A guild to those who really know the worth of a professional trader not a gambler. Kudos Nail.

    49. tbird


    50. Paul

      Absolutely true that you must learn to accept losses. This idea goes against everything we learn in life as we are taught that we must be winners or that loosing equals failure. But in trading its a natural and normal part of the cycle of a winning trader. Everything this site teaches about price action, set and forget trading, mindset needed is all that you need to succeed in trading. Once you have been trading a demo for a fair few months to a year or so and have been through the wins and losses you will start to become confident and you will know that you are a winning trader. It just take commitment to your plan to find this out. What you need to do is very simple actually.

    51. Caine Goh

      My! just what I needed other than technical knowledge like how to read candlestick chart, studies basics of forex.

      I have not yet pay much attention to my mental/emotion skills in forex trading… a HUGE oversight … :(

      Thanks Nial, you have nailed it down for me … my next chapter of self training …

    52. Alex

      I cleared my trading account out for the first time the other day because I got emotionally involved in a gold trade. I also had a setup on Oil at the same time and when they both went sour I was overstretched. I took a hit and even though I was comfortable losing the trade when I first did it. I didnt bank on losing my profit which after 2 days I had become emotionally attached to! The swing on one trade meant I had lost more than what was initially thought about. I tried to re-enter the market on gold with EVERYTHING I had, being stupid and emotional! I’ve never done it before and blimey it was a lesson learnt! I will come bk from this but now I know the importance of control over your emotion. Also maybe to tell people about the SWING that one trade can undergo if you’ve not locked in profit! Thanks Nial, I will be back with a helmet next time!

    53. Trader Mark

      As always your lessons don’t pull any punches – just what traders need to hear. Great lesson that very clearly outlines what you need to do if you want to be successfull at this game. I have been trading now for over a year and have still not quite mastered all the points that you highlight but I am definitely on the right road and “enforcement” messages like these in your lessons are always welcome.

      Keep up the great lessons.

    54. Asterix

      I’m trying, I’m trying but I still have a long way to go.
      In terms of the value I have received from your course so far, I think you should put your price up.


    55. Steve

      Great advice/ lesson that should be read often and never forgotten.

    56. olaoye

      thanks for this article many people don’t know what it take to become a trader.
      thanks once again,keep it up.

    57. Omar

      Estimado , reclaro el relato de un operador , exelente ¡
      Un abrazo ¡

    58. Ryan


      Became a student of yours about 2 or 3 yrs ago and in that amount of time I think I have tried just about everything under the sun in terms of trading and I have finally come to a place of consistency within the last year or so when I came back to price action. Your article nailed the biggest obstacles I face now. It is not the fundamentals of trading…it is the mental components, and staying plugged into your teaching gives me the mental conditioning I need….Thanks for all you do! Keep it up!!

    59. Paul

      Sound advise as always Nial

      Its only since I came across your site that I really started to understand what ‘accepting losses as being a necessary component of trading’ really meant.

      No one before had really got through to me that trading assessment is made over the long term (in years, quarters or at least months) from a high volume of trades. Because no one and no system can possibly KNOW what the market is going to do next, the holy grail of a ‘system’ that only identifies winning set ups never has and never will exist. Therefore you need to find a strategy (there are many which can demonstrate profitability over a long term, and when you examine trade set up by trade set up, they may even be contradictory in their recommendation or ‘forecast’ of which way the market is going to move next. Like at present, the NZD USD pair is definitely in an up trend on the daily timeframe. A trend following system may be waiting for a retracement on a lower timeframe (say 4H or 1H) to dynamic support & or a fib. level & or ascending trend line and a candle formation to act a s a ‘trigger’ to enter long, with the trend. Whereas just as ligitmate counter trend strategies will be looking to enter the market short, because the price is an obvious support and resistance area and the daily chart has printed a clear ‘sell’ trigger candle rejecting higher prices at this point in time. Obviously only one of the set ups will turn out to be right, but both strategies could still be able to deliver positive returns in the long run, provided they both make more on their winning trades than they lose on the losing ones. Thus ‘R’ is the key to assessing whether or not to place an order to enter a trade and then truly ‘setting and forgetting’ to let the market make up its mind and either provide one trading strategy with a nice winning trade and the other with an accepted loser. It could of course be the other way around next time

      I have only repeated what you teach, but my point is, for the first time I actually understand it now, and approach my trading with a firm view of what my strategy is (daily time frame trend following) and what I require to place an order in the market (minimum ‘R’ of 2.5, pull back and ‘trigger’ candle on lower timeframe) and how I manage a trade if an order has been opened (move stop to breakeven position when price has moved to ‘R’ = 1 and then trail stop behind obvious 4H support, resistance levels). I suspect I have a lot more breakeven trades because of my trade management strategy, but until I have a years worth of live historical data, those are the rules that I am going to trade by

      I have you and only to thank for this, and do so unreservedly. Have a great weekend with your family and thanks as always, best

    60. Prayas Mandve, India

      Nial’s posts are a real deal…his captivating and genuine posts can make ur psychological background strong enough to succeed in Forex market…!!..To be honest, this is simply the best trading guide on psychology to be kept throughout ur Forex trading life…

    61. Sudhir

      I agree with the idea of 3 or 4 quality trades per month. You don’t need to make 100 trades per month to make a living.

      I have wasted a lot of time learning to day trade. Nial was a turning point for me in trading.


    62. Charles


    63. Udom, Ubong

      Your Articles have always been bomb. I learned immense lesson from you that have helped me shape-up my trading ability. And I believe it well help me build my Trading Career.
      Am hoping to fully register as your student someday when am buoyant enough.

    64. Godwin

      Very awesome article ,your making teachers from studentship

      “Give a man a fish and he will eat for the day. Teach a man to fish and he will eat for a lifetime.”Chinese Proverb


    65. Johnpaul

      Thanks Nial, you have said it all.You are the revolution to my trading career and you always hit it right on spot.

    66. Rocky

      A timely article indeed. Personally, the biggest obstacle for me was the inability to take losses. That still happens sometimes but with a trading plan, and an acceptance that one can never win all the time, I have definitely been more successful at trading than I was before. Nial, love the course, and the trading community that you have is really great! One thing about this article that made me chuckle was about having the AK 47 and only pulling the trigger 4 to 5 times a month! That is so true though…again, that’s when sticking to your trading plan really really comes in handy…


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