Every trader is striving to find a trading technique that suits them. Whether you're a seasoned trader or a novice, a set of trading techniques or methods tailored to you can significantly impact your trading profits and losses.

Therefore, many traders like to exchange experiences with their peers, hoping to extract the "essence" of trading from others and apply it to their own trading. They may also constantly read about the trading journeys of successful traders to gain some insights.

Below, we've summarized the trading techniques, tips, and experiences of 10 successful traders or analysts worldwide for readers' reference.

1. Follow the Trading Strategy 

The idea of achieving successful trading through fantasy and intuition sounds good, but for most traders, the reality is quite different. First, develop a trading strategy, then comprehensively test and adjust it, and repeat these steps.

"Depending on their personality, traders can use one strategy in trading or combine multiple strategies. There's no such thing as one strategy being better than another." —— Mario Singh (CEO of FX1 Institute in Singapore)

2. Self - discipline 

As a trader, you must learn self - discipline. This is one of the most important trading wisdoms we often hear. Why? Because it's true. Lack of self - discipline leads to trading mistakes. If there are too many mistakes... the trading is over.

"You must be self - disciplined, follow the process, and do what is required..." —— Jamie Saettele (Co - founder of CMT/SB Trade Desk)

3. Be a Patient 

Trader Patience is an advantage, especially in foreign exchange trading. It takes time to develop a foreign exchange trading plan and to cultivate skills. It requires patience to wait for the right trading opportunities, as well as to enter and exit the market at the right time. Fundamentally, foreign exchange trading is about patience.

"I never thought about 'when will I succeed'. My thought was 'be patient and let things take their course'." —— Chris Capre (Founder of 2ndSkiesForex)

4. Develop a Trading Plan 

As the saying goes, "Failing to plan is planning to fail." Any successful trader will tell you that if you don't act systematically according to a plan, you're doomed to fail.

"Don't trade without a trading plan." —— Kathy Lien (Managing Director of BK Asset Management)

5. Avoid Over - trading 

Over - trading mainly results from traders' inability to control themselves, manifested in two situations: 1) Frequent trading in a short period; 2) Excessive capital in a single trade. Of course, sometimes both situations occur. In any case, these two forms of over - trading can cause significant harm to your trading account.

"So far, the biggest problem facing aspiring traders is over - trading." —— Johnathon Fox (Started trading at 12, a professional foreign exchange and futures trader)

6. Learn to Accept Losses 

There's a reason why foreign exchange trading is called foreign exchange trading rather than foreign exchange "success". Unfortunately, losses are an inevitable part of foreign exchange trading. If you can't accept them, you can't improve your trading or become a consistently profitable trader. There's no point in obsessing over a high success rate; instead, you need to focus on cultivating trading skills and have a broader perspective.

"You need to understand that losses are part of foreign exchange trading, and you need to accept this. If you can't accept losses and your own mistakes, you'll never become a successful trader." —— Joel Kruger (Seasoned trader and analyst)

7. Conduct Risk Management 

Practical capital management is indispensable for traders to succeed - without it, you can't survive in the market for long. Every trade you make has certain risk factors. Wisely managing risks will surely help you trade for a longer time.

"Never trade with more money than you can afford to lose, because the pressure from losses will make you impatient to gain profits." —— Vladimir Ribakov (Seasoned foreign exchange trader)

8. Keep a Trading Journal 

As the saying goes, "Failure is the mother of success." Record why you made a certain trade and any lessons you learned from it. For failed trades, traders need to know the details of the failure and why it happened to avoid unnecessary repeated failures. For a successful trade, you also need to know how and why it was successful.

"Also analyze successful trades to see if they went as planned or if it was just luck." —— Yohay Elam (Senior Analyst at Forex Crunch)

9. Learn from Experienced Traders 

Learn from those who are more experienced than you to enhance your skills. By constantly observing how veteran traders invest, you'll start to understand how they think and make important trading decisions. Whether you're a beginner or an experienced trader, following other traders in a timely manner can give you the ability to learn "in practice" and avoid spending time on theoretical learning.

"Follow in the footsteps of the big players." —— Navin Prithyani (Seasoned trader)

10. Analysis Before Entering the Market 

Before entering the market to trade, develop the habit of analysis. For example, what's happening in the global economy or politics currently? Is the foreign exchange market rising or falling? Or what about the release of some economic data? In addition, you need to decide whether to trade before or after important economic data or risk events. And what currency pairs should I trade most today? Keep in mind that professional foreign exchange traders don't take risks by gambling.

"Every morning, before starting to look for trading opportunities, I analyze and choose the currency pairs with the clearest market trends." —— Raul Lopez (Full - time trader, Chief Trader at Straightforex.com)