Why are some traders successful?

KAnthony posted:
hi all. i'm newbie and dont know much things. but i prefer to think experience makes trader profitable. a lot of experience. and quick reaction too.

Experience is Always the best teacher.

Tectiform posted:
This is such an insightful post. It is true that every trader has to face some challenges before they become profitable or successful in the long run. The willingness to learn and determination to keep trying until they reach success gives them an edge. Trading will never be easy and one should not give up on trading just because they are going through tough times. We must keep on trying and success will come to us sooner or later.

the people who ae already successful they are more self committed compare to general people . that is very clear message.

Trading is a style. Positive if u are in,you are favoured but negatively,if you are in it ,minimize risk and apply patience options

All successful traders are alike - use fundamental and technical analysis, risk management. All unsuccessful traders lose in their own way

Yes

Forex trading risky business, success in the forex industry, not all traders will be successful without learning and hardworking, maybe we often hear more than 90% of traders lose money in forex, and only 5% traders make money from forex, but we hope will become part of 5% profitable trader

FXOday posted:
Forex trading risky business, success in the forex industry, not all traders will be successful without learning and hardworking, maybe we often hear more than 90% of traders lose money in forex, and only 5% traders make money from forex, but we hope will become part of 5% profitable trader

I agree. For being successful you need a well-defined strategy which has a positive expectancy of outcomes and you need to apply this strategy consistently.

The successful traders are those that spend the time to learn how to trade and are not focus on getting rich quick. It may take years but better to slowly make money than quickly lose it all

Success in forex comes with disciple, consistency and good strategy.

I suppose It come down to having a good entry and exit strategy, aswell as being aware of market conditions, being patient and having self control.

In trading in order to be successful one should have enough patience and skills and that is built with only practice.

electrica333 posted:
In trading in order to be successful one should have enough patience and skills and that is built with only practice.

Yes, I agree with you. Demo trading is best for practising trades.

It is a common thing there is different result in each other in many businesses, the profession could be the same, but, the result will be different, in forex trading, although two traders use the same trading strategy the end result could be different, there is another factor the cause like psychology, time to enter, slippage, etc.

Sometimes it seems to me that some traders have very strong intuition, and it cannot be learned.

For me, knowledge and experience - I truly believe that successful forex traders often have a deep understanding of the markets they trade in, as well as a wealth of experience in trading.

For every experienced trader comes a new stage in life, when he begins to receive investments from those who also want to make money.

Being in an industry for a long can help them to overcome the struggle they faced while trading, this can help them to become more prone to the changes and accepting the challenge to be better.

Francisca33 posted:
To be a successful trader, there are several factors that come into play. One of the most important factors is having a thorough understanding of the market and the ability to use data and analysis to make informed decisions. In addition, successful traders tend to have a strong sense of discipline and effective risk management techniques that allow them to limit losses. By combining these factors, traders can increase their chances of success in the highly competitive world of trading.

How can one become more discipline?