What creates an advantage of best traders?

In my personal opinion it is:

- Access to unique knowledge, preferably before everyone else.
- Knowledge about companies' plans, new products (which is unavailable to others), that’s especially in a case of the stock
- Ability to reliably estimate companies' results before they are published
- Knowledge of political changes and their impact on the markets
- Use of alternative data
- Use of market formations that pay well and that others are not aware of.

This can be accompanied by

- knowledge and ability to use technical analysis
- finding specific entry points and methods
- using formations that others have overlooked or using what is known but in your own unique way

I think it also has to do with having a lot of self-discipline and being able to remain calm. Certain traits, like anxiety, can also give traders a disadvantage. I also think those with more money have a bit more of a safety net, so losing money to them may not feel as big of a deal as it does to a person that's living payday to payday, for example.

Being a perpetual student. Never quit trying to improve, be humble. Strive to learn something every day.

I think that submission to the idea that is a skill that has to be learned and practiced goes a long way and gives you an edge over the majority that think they can rock up to the markets with none and make money

In my opinion, only those traders who have or develop a growth mindset and discard the fixed mindset are the ones who reach the level of being called ‘the best.’ Traders with a growth mindset think that intelligence and originality can be developed through practice and time. Because they reframe problems as learning opportunities, they are less likely to be disheartened by failure. This permits people to be fulfilled and joyful.

HeavLeighGill26 posted:
I think it also has to do with having a lot of self-discipline and being able to remain calm. Certain traits, like anxiety, can also give traders a disadvantage. I also think those with more money have a bit more of a safety net, so losing money to them may not feel as big of a deal as it does to a person that's living payday to payday, for example.

Thank you for your thoughts! 'I also think those with more money have a bit more of a safety net' that's very individual and it depends among other things on whether one has a financial safety cushion and what the trading style and capital management is - if it is risky, the trader can lose everything in one moment. This can be devastating. An additional element is the so-called trader's glass ceiling. At a certain level trader is not able to invest more. This is quite a serious problem for intermediate and even advanced traders.

sebking1986 posted:
I think that submission to the idea that is a skill that has to be learned and practiced goes a long way and gives you an edge over the majority that think they can rock up to the markets with none and make money

Very on point. Thank you!

No one is born as an expert trader. What one could do is to carefully observe major economic events and how pairs respond to these events and eventually develop her/his own unique strategy.

I think sound knowledge with the proper strategy is of great advantage.

I think in order to be the professional trader you must get at least 3 advantages:
- Big started capital in trading;
- Deep knowledges and your own created trading strategy;
- Ability to quickly adapt and respond to market fluctuations.

This is most important things for me.