To be a successful trader

Nice topic, you know. What make you the successful?
I think it would 3 things.
1. Knowledges.
2. Faith.
3. Money.
Without knowledges you'll burst quickly. Withouot faith you'll not be sure of yourown success. Without investing money in your own acc you'll not earn more.

Always Use a Trading Plan.
2: Treat Trading Like a Business.
3: Use Technology.
4: Protect Your Trading Capital.
5: Study the Markets.
6: Risk Only What You Can Afford.
7: Develop a Trading Methodology.
8: Always Use a Stop Loss.

AliForexTalks posted:
Always Use a Trading Plan.
2: Treat Trading Like a Business.
3: Use Technology.
4: Protect Your Trading Capital.
5: Study the Markets.
6: Risk Only What You Can Afford.
7: Develop a Trading Methodology.
8: Always Use a Stop Loss.

Yes. Very nicely explained.

AliForexTalks posted:
Always Use a Trading Plan.
2: Treat Trading Like a Business.
3: Use Technology.
4: Protect Your Trading Capital.
5: Study the Markets.
6: Risk Only What You Can Afford.
7: Develop a Trading Methodology.
8: Always Use a Stop Loss.

Agree to all these pointers buddy, especially the stop loss one. Stop loss really protects us from blowing our accounts.

@croisssan Yes good trader has huge demand but it's not easy to be a good successful trader. It takes a lot of time and dedication to learn the art of trading.

I think you explained it simply and that's a good thing, but people do need to realize that it isn't as easy as 1,2,3. It does take a lot of work, often more than people realize but the reward is worth it in the end.

i have a simple and irritating question there is any difference between a successful traders and a professional trader ? its all about the same issue or any major difference between the two.

Persistence discipline unwavering wotk ethic and positive trading mindset these are key characteristics of successful traders

Jungle78 posted:
Persistence discipline unwavering wotk ethic and positive trading mindset these are key characteristics of successful traders

Yes. You are absolutely right.

In my opinion, successful traders are those people who know their business. Of course, when you enter trading activity you can't be considered as successful trader even if you have plenty of pluses, the main idea of successful trading is to have success on a long distance. When you have 80% per month to your eposit, then probably you can be considered as successful trader.
Moreover, novices always look at professionals traders and think that they can do the same, nevertheless success comes with experience and only. On their initial stages, novices will lose their money and that is really okay. The market checks traders on durability by such things.

Putting the hours in is the key and learning from losses

Treeny posted:
Putting the hours in is the key and learning from losses

Really think thats true like so many are not willing to put the hours in and they dont keep a journal to see where they go wrong and repeat mistakes

Michihito posted:
To be a successful trader, it does not take much of pains. All what you need to do is acquire full knowledge about the economic surroundings. You should think logically about how the news would affect a particular security. A successful trader should know how to control the emotions because the emotion driven decision sometimes creates havoc.To be a successful and efficient trader, you need to start trading by opening demo account as it will help you in testing your strategies. Once you get enough confidence then start with real money.

Trading on fundamental and taking decision on it is never easy. In fact, trading on technical analysis is way easier for retail trader. Yes, you are very right on the note that traders must trade on demo account before start live trading. It is one of the most vital points that every single trader must follow. Learning trading is not painful. However, it needs patience and a trader must devote himself to learn it for a good period of time.

Every trader has the same opportunity to become a successful trader, but not all trader will be successful trader, but if we take lesson from successful trader, they has good knowledge and also have the courage to work, if trader having mindset will become successful trader, usually they can learn well-compared trader that only chasing profit

having a losses is very common attitude and there is no one who can avoid it in spite of having most powerful analyzing trade knowledge and experience.