What makes one a Professional Trader?

Aug 02, 2015 at 06:14
9,088 Views
233 Replies
Member Since Dec 20, 2021   25 posts
Jan 17, 2022 at 12:31
According to me, consistent hardwork and dedication can always lead to you to the road of success.
Member Since Jan 26, 2013   73 posts
Jan 17, 2022 at 14:54
To me, a professional trader is one where his/her primary (and sometimes only) income is derived from the profits of his/her trading.
Integrity is the seed for achievement. It is the principle that never fails. - Earl Nightingale
Member Since Jan 03, 2022   9 posts
Jan 17, 2022 at 17:53
cgasucks posted:
To me, a professional trader is one where his/her primary (and sometimes only) income is derived from the profits of his/her trading.

And that income must come directly from their trading not 'forex education' etc?
Member Since Jan 26, 2013   73 posts
Jan 18, 2022 at 01:40
OriginalPointer posted:
cgasucks posted:
To me, a professional trader is one where his/her primary (and sometimes only) income is derived from the profits of his/her trading.

And that income must come directly from their trading not 'forex education' etc?

If you teach others how to trade and make all of your income from teaching, then you're not a forex trader, you're a forex educator.
Integrity is the seed for achievement. It is the principle that never fails. - Earl Nightingale
Member Since Jan 07, 2022   16 posts
Jan 18, 2022 at 07:45
A professional trader needs to have the right mindset, follow a system that is profitable in the long run, have discipline, and be able to handle risk.
Member Since Nov 03, 2021   53 posts
Jan 20, 2022 at 05:03
For me, a professional trader is not someone who makes oodles of money day in and day out. Traders who are professional in their approach, consistent in their efforts, follow their plans, strategically take every move, stay disciplined, don’t chase money and try to learn lessons from their failures are professional traders.
Member Since Dec 13, 2021   32 posts
Jan 28, 2022 at 04:00
To become a professional trader, you must stop chasing profits and learn all that you can about the market and trading strategies.
Member Since Jun 07, 2021   72 posts
Feb 04, 2022 at 05:44
Qualities like the following make a professional trader:
Patience - Waiting for the right moment to enter or exit a trade
Emotion control - Controlling anger, fear and other emotions while making decisions
Knowledge - Being up to date with the latest available information and news
Practice - Trying every piece of knowledge in demo trading
Member Since Aug 10, 2021   178 posts
Feb 04, 2022 at 14:10
There are some forex signals that can be profitable for you, there are some that are at least 70% accurate, you should know the test and understand if the signals are worth your trust before you take them. So it's better to use the signals on a demo account first or to learn from a professional
Member Since Mar 01, 2018   43 posts
Feb 04, 2022 at 15:37
Protecting capital and keeping dd down is more important than the monthly percentage. I want to clarify an important thing for everyone: investors should be aware of the risks of the currency market and the high volatility that occurs daily. Our advice to everyone: invest only money that you can afford to lose
Have your trading charts ready!
Member Since Feb 08, 2019   213 posts
Feb 04, 2022 at 18:44
Discipline, patience and a strategy
Member Since Mar 01, 2018   43 posts
Feb 04, 2022 at 19:35
Patience – is one of the essential qualities that a successful trader must either have or learn over time. It is the lack of patience that forces us to rush into wasteful trades that often lead to unnecessary losses. The fact that there are always plenty of opportunities in the market worth waiting for is being realized by myself always :)
Have your trading charts ready!
Member Since Dec 09, 2013   139 posts
Feb 05, 2022 at 07:32
Zawiri posted:
A number of times i've seen comments on this site alluding that professional traders dont make their statements public; some talk on no solicitation for funds on such forums; some on the need for one to have more than 100 trades and so forth. But what would make one be considered to be Professional coz at some point many aspire to be! Share you thoughts here.
Consistency makes someone a professional trader. A trader must be consistent and able to handle the pressure of market. This market is never perfect. It is a game of probability. Thus, a trader is bound to make losing trades. He has to know how to deal with those losses as well.
Member Since Feb 07, 2022   24 posts
Feb 07, 2022 at 06:09
In order to become a professional trader, the very first thing that needs to be done is learn to trade it as a craft. Take it really serious.
Member Since Jun 21, 2021   33 posts
Feb 07, 2022 at 08:52
ElliotEll posted:
In order to become a professional trader, the very first thing that needs to be done is learn to trade it as a craft. Take it really serious.
Well said Elliot! This really needs to be learned.
Member Since Feb 07, 2022   9 posts
Feb 07, 2022 at 14:29
Perhaps anyone who is taking this serious could be considered a professional trader. If you dedicate yourself to learning the craft them this makes you a professional
Member Since Apr 03, 2021   470 posts
Feb 08, 2022 at 00:08
As long as you can make consistent profit in forex trading, you are already professional, but professional I think they not only work in one investment type, they will diversify the portfolio to balancing strategy investment, there is a portion for forex investment, there is a portion for investment in bonds, mutual funds or treasury, crypto, etc.
Member Since Aug 10, 2021   178 posts
Feb 09, 2022 at 02:01
The forex market is not something one can just jump into without good knowledge about how it works. While sometimes one can gamble on it and become rich, one can also gamble and go bankrupt. Getting rich through forex trading requires a total understanding of the market.
Member Since Jun 26, 2020   327 posts
Feb 10, 2022 at 06:53
Leaning from own trading mistake is the best practice! But, we should try to complete our main learning process in the beginning stage of trading!
Member Since Jan 22, 2021   125 posts
Feb 10, 2022 at 07:50
Right strategy and careful back-testing of the trading plan makes a trader pro.
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