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Defination of a Good Trader?

CapitalhillManagment
Capitalhill
Oct 09 2011 at 08:11
46 posts
As for me,
A good trader is a trader that always stick to his or her plans, like taking lose when it is due, and always knows he or she cant win all the time, but always have the winning trades exceeding the losing trades i.e the sum of all winning positions, after subtracting the losing positions, u still have profits.

Make ur own defination
jakkapan (nfsfantasy)
Oct 09 2011 at 15:47
1 posts
CapitalhillManagment
Capitalhill
Oct 09 2011 at 16:11
46 posts
SaltyWaters
Oct 09 2011 at 19:04
247 posts
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
CapitalhillManagment
Capitalhill
Oct 09 2011 at 23:42
46 posts
Gerald (gerald325i)
Oct 13 2011 at 18:08
159 posts
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.
Take your profits while you can or the market will take them from you
petrus damianus (damianus)
Nov 07 2011 at 02:26
29 posts

   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

Thank you salty....nice one :)
Ini uang benaran bukan daun jambu
Ken (TheForexFox)
Nov 07 2011 at 04:21
57 posts

   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!!
Trade the plan that works for you!!
7forex
Nov 10 2011 at 22:38
56 posts
There is no good trader until he/she retires from trading and have maded profits while he/she was trading. A 'good trader' can blow out his/her accounts anytime as long as he/she is actively trading. Do we see enough of this kind of good traders?

Of course, a 'bad' trader can make profits as long as he/she keeps learning and stop trading when he/she make some profits.



I love taking risk with the right returns.
Forex Signals By Forex RingLeader (Fxringleader)
Dec 08 2011 at 04:27
95 posts
Definition of a Good Trader: Professional Gambler and expert at calculated Risk. & Can make a Dollar out of .15 Cents.
Dmitriy Filimonov (Dmitriy1987)
Jan 18 2012 at 08:13
15 posts

   Fxringleader posted:
   Definition of a Good Trader: Professional Gambler and expert at calculated Risk. & Can make a Dollar out of .15 Cents.
Thumb up! To gamble and calculate risks - what else one needs to profit!
Less talking, more business!
Jesse Livermore (Vlad197299)
Feb 01 2012 at 07:21
9 posts
I would stipulate that a good trader is a professional, and a profy is never a gambler but an extremely well educated generally and financially expert who feels the market deeply and sticks to the strategy he developed. And, as a profy, this trader firmly understands that money management is the fundamental aspect of safe trading and the compony safety. I would prefer to work with a client with the capital at least 50 - 100 times the margine for a lot traded. And risks are the lower the higher the timeframe is, which also affects the requirements for the money invested.
everything is very simple, you just have to guess
PipGnostic
TheCyclist
Feb 01 2012 at 10:52
724 posts
A true professional doesn't feel the market anything. Those days are long gone. He writes a algorithm that interprets the data correctly and logs in from his phone on the beach from time-to-time to see how much money he's made so far today, and if everything is still on.
ForexScam
Feb 01 2012 at 19:06
1008 posts

   TheCyclist posted:
   A true professional doesn't feel the market anything. Those days are long gone. He writes a algorithm that interprets the data correctly and logs in from his phone on the beach from time-to-time to see how much money he's made so far today, and if everything is still on.
You couldn't have said it any more subtle
Jesse Livermore (Vlad197299)
Feb 02 2012 at 07:12
9 posts
No doubt, a good algorithm, a good expert advisor is a very useful thing. Automatical trading could be much helpful. But any machine does only the things a person tells it to do in such and such circumstances and situations. Nothing more. So it would win money when you would yourself and lose it when you would yourself, becourse it is the algorithm you wrote. So still I would stipulate that a good trader is a profy, never a gambler, but an extremely well educated generally and financially, firmly understanding that money management is the fundamental aspect of safe trading, feeling the pulse of the market and having developed a profitable strategy. Only having all of this components assembled one can write an algorithm to earn money. I use automatical trading as well as manual and find it much more interesting then using them separately.
everything is very simple, you just have to guess
PipGnostic
TheCyclist
Feb 02 2012 at 10:20
724 posts
Jesse,

You don't understand mate.

For a modern pro there is no decision making process or this or that circumstances. The only thing that influences profitability is volatility. All circumstances are profitable and the speed of said circumstances determines how profitable.

PipGnostic
TheCyclist
Feb 02 2012 at 10:28
724 posts
And most likely a pro doesn't use an EA. MT is to slow for real work.
ForexScam
Feb 02 2012 at 11:36
1008 posts
I'm no pro and I've honestly hated mt4 for a very long time so I know what you're saying. I see how mt4 limits a strategy's potential and how it hinders the success of automated systems and manual traders for that matter. However, there is one factor and one factor only why MT4 is worth while. Popularity. Because of solely this, I've been able to learn from examples that I would never have been able to learn something like this before ( coding).

I understand the difference in opinions as what Jesse and PipG said. I'd say there is some truth in both. For example, There is a long narrow road that you can head down for automation like a neural net- AI, HFT. But how far down the rabbit hole do you want to go?

While Jesse's approach is logical for new programmer/experienced trader. You take what you know and use programming to act on your behalf. Anyways this is my approach because I'm an inexperienced programmer.

a long story short, PipG is right, a true professional wouldn't use MT for anything and levels of automation are just as deep as levels of experienced traders.
ForexScam
Feb 02 2012 at 11:39
1008 posts

   Vlad197299 posted:
   Only having all of this components assembled one can write an algorithm to earn money. I use automatical trading as well as manual and find it much more interesting then using them separately.

This is our approach because we're probably both manual traders from the beginning and after so much screentime we know its just a matter of time of taking our personal experience and turning into an automated approach.
Chikot
Feb 05 2012 at 17:09
2299 posts
automation works and manual trading works. to each their own.
Some like PipG enjoy spending time on beach hence automation is a good bet 😉
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