thank

Based on what I've read around I rather start my view (not definition) with what is a bad trader.


A bad trader is one who doesn't succeed in making money even though he has read all the books about trading and belongs to a group of people who agree with him and call themselves 'the good traders' or the guys who know how to do it the way it should be done (they usually have nothing to show) but they still struggle to break even or they still end up losing.
He applies the rules he believes should make a good trader (e.g. tight SL) and tries to define a bad trader, usually setting the standards of trading or even teaching others (e.g. selling books that define what is a good trader) - pointing out things he sees on other traders that he can't do himself because he has no skill or he is a 'chicken' like trading without a SL or using a martingale strategy, grid, etc...

He often forgets the ones who succeed in this game are usually the ones who don't do what everybody else is doing. Because they have the 'Guts' or the 'Balls' to do it.

A good trader is one who makes money trading regardless of his style or strategy be it orthodox or not. He knows that there's plenty of wannabes out there that don't agree with him and will try to put him down by calling him names (e.g. gambler) or trashing his method (e.g. it will blow soon or later). He doesn't give a shit for what others say or do. He believes in himself and his strategy. He may be able to take more heat than others before chicken out and let the DD go deeper in order to get what he wants. He knows the risk involved and he is willing to take it. He will take the money and run when the time comes and bank the profits. Here he will laugh at the 'barking dogs' that say he is not a good trader then indifferently he will go back for more.

He is an individual that knows the risk involved in trading and he knows that he will win some and he will lose some sometimes but he keeps his equity growing.

A good trader knows that better than to be a 'good trader' is to be a 'Money Maker' and that is his ultimate goal.

In the end of the day the name of the game is 'make money' - and if you can have fun doing it is even better .


Cheers,

Salty

A good trader is someone who can execute a simple strategy with consistent positive results and who has patience and perseverance to stay the course. A good trader knows that the road to success is a steady walk uphill, and that the danger of losing it all is just one step away. A good trader recognizes that success is measured by proven risk management techniques, and by letting go of feelings to execute trades with asset preservation in mind. It is better to cut a losing trade lose than to hold on to it and drag every penny into darkness.

   SaltyWaters posted:
   Based on what I've read around I rather start my view (not definition) with what is a bad trader.


A bad trader is one who doesn't succeed in making money even though he has read all the books about trading and belongs to a group of people who agree with him and call themselves 'the good traders' or the guys who know how to do it the way it should be done (they usually have nothing to show) but they still struggle to break even or they still end up losing.
He applies the rules he believes should make a good trader (e.g. tight SL) and tries to define a bad trader, usually setting the standards of trading or even teaching others (e.g. selling books that define what is a good trader) - pointing out things he sees on other traders that he can't do himself because he has no skill or he is a 'chicken' like trading without a SL or using a martingale strategy, grid, etc...

He often forgets the ones who succeed in this game are usually the ones who don't do what everybody else is doing. Because they have the 'Guts' or the 'Balls' to do it.

A good trader is one who makes money trading regardless of his style or strategy be it orthodox or not. He knows that there's plenty of wannabes out there that don't agree with him and will try to put him down by calling him names (e.g. gambler) or trashing his method (e.g. it will blow soon or later). He doesn't give a shit for what others say or do. He believes in himself and his strategy. He may be able to take more heat than others before chicken out and let the DD go deeper in order to get what he wants. He knows the risk involved and he is willing to take it. He will take the money and run when the time comes and bank the profits. Here he will laugh at the 'barking dogs' that say he is not a good trader then indifferently he will go back for more.

He is an individual that knows the risk involved in trading and he knows that he will win some and he will lose some sometimes but he keeps his equity growing.

A good trader knows that better than to be a 'good trader' is to be a 'Money Maker' and that is his ultimate goal.

In the end of the day the name of the game is 'make money' - and if you can have fun doing it is even better .


Cheers,

Salty


Very well said Salty--My kind of trading!!

Definition of a Good Trader: Professional Gambler and expert at calculated Risk. & Can make a Dollar out of .15 Cents.