A trader can be called a professional if his/her income depends on their trading results. Likewise a sportsmen can be called a professional if he relies on the sports results.
Cenaya posted:If you're not a professional, you will not be successful. Professional does not mean you should take trading as a professional. It is about having the necessary knowledge and a mindset that is suitable for trading in forex.
A trader can be called a professional if his/her income depends on their trading results. Likewise a sportsmen can be called a professional if he relies on the sports results.
Knowledge and work experience. I think these are the most important components of a professional.
Professional traders have a passion for trading. They enjoy the financial rewards of trading, and they thrive on success. A professional trader has a plan, knows their risk parameters, and sticks to a plan.
One that makes money from trading over the long term.
If you can't spot the liquidity then you are the liquidity.
According to me, consistent hardwork and dedication can always lead to you to the road of success.
To be honest, it is rather difficult to imagine a characteristic that will instantly turn a trader into a pro. This takes a lot of time.
Jan 17 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
Jan 17 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?
Jan 18 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
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.
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.
To become a professional trader, you must stop chasing profits and learn all that you can about the market and trading strategies.
Feb 04 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
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
Feb 04 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
Feb 04 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!
In fact - experience and knowledge. I consider these aspects to be the most important in a trader's job.
Feb 04 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!
Zawiri posted: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.
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.
