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What makes one a Professional Trader?
Uczestnik z Jan 25, 2010
1288 postów
Jan 17, 2019 at 14:58
Uczestnik z Jan 25, 2010
1288 postów
togr posted:
Professional trade follows trading plan. Amateur trader does not so he is a gambler. That's why 95% of traders are losing.
Trading plan has to define when to enter trade and when exit. (also when you DO NOT trade, trade size, etc.)
So there is no need for plan B or whatever nonsense.
You can be professional with only one plan (read "strategy"), or you can have multiple plans (strategies).
I personally use multiple strategies, on multiple accounts also:
Plan A: Primary EA on Main account
Plan B: High-risk Asian scalper on secondary account
Plan C: High-risk all-sessions scalper on tertiary (overclocking) account
Plan D: Linear Cost-Averaging Grid EA
Plan E: Manual trading
etc.
The qualifying factor is: "Do you ultimately aim to make money (ie. commercial enterprise)?"
https://www.business.gov.au/planning/new-businesses/a-business-or-a-hobby/
Uczestnik z Feb 22, 2011
4573 postów
Jan 18, 2019 at 09:44
Uczestnik z Feb 22, 2011
4573 postów
BluePanther posted:togr posted:
Professional trade follows trading plan. Amateur trader does not so he is a gambler. That's why 95% of traders are losing.
Trading plan has to define when to enter trade and when exit. (also when you DO NOT trade, trade size, etc.)
So there is no need for plan B or whatever nonsense.
You can be professional with only one plan (read "strategy"), or you can have multiple plans (strategies).
I personally use multiple strategies, on multiple accounts also:
Plan A: Primary EA on Main account
Plan B: High-risk Asian scalper on secondary account
Plan C: High-risk all-sessions scalper on tertiary (overclocking) account
Plan D: Linear Cost-Averaging Grid EA
Plan E: Manual trading
etc.
The qualifying factor is: "Do you ultimately aim to make money (ie. commercial enterprise)?"
https://www.business.gov.au/planning/new-businesses/a-business-or-a-hobby/
Sure you can have more strategies
But you cannot have more trading plans per one strategy
You can even trade more strategies on single account

forex_trader_458816
Uczestnik z Sep 11, 2017
117 postów
Jan 18, 2019 at 10:54
Uczestnik z Sep 11, 2017
117 postów
Just consistent profit withdrawn, it is enough for me to call them Professional.
Uczestnik z Feb 22, 2011
4573 postów
Jan 18, 2019 at 12:50
Uczestnik z Feb 22, 2011
4573 postów
nasrul_poyo posted:
Just consistent profit withdrawn, it is enough for me to call them Professional.
Nope withdrawing money could mean you were lucky.
Uczestnik z Dec 28, 2013
160 postów
Jan 18, 2019 at 17:35
Uczestnik z Dec 28, 2013
160 postów
I think a trader can be qualified as a pro trader if trading is if s/he can support living by trading as a a main source of income (of course that varies according to each country) I think somebody has said that already. Intelligent emotionless traders, INTJ variants,(look for Briggs-Myers personality theories), and women fare the best I've told myself.

forex_trader_458816
Uczestnik z Sep 11, 2017
117 postów
Jan 20, 2019 at 07:14
Uczestnik z Sep 11, 2017
117 postów
I mean consistent withdraw, not one time withdraw. It means that, they can make money by self trade, not by selling or teaching goods from Google
Uczestnik z Jan 18, 2019
7 postów
Jan 20, 2019 at 07:18
Uczestnik z Jan 18, 2019
7 postów
Experience has shown that most manual strategies pass the eye test. They have good risk reward ratios.
The greatest problem, in my view is EMOTIONAL CONTROL. You really cant call yourself a professional trader is you dont have emotional control of your trades. And the only way to that is to consistently use proper money management.
The greatest problem, in my view is EMOTIONAL CONTROL. You really cant call yourself a professional trader is you dont have emotional control of your trades. And the only way to that is to consistently use proper money management.
Trade In A Way That Leaves You With Money To Trade More
Uczestnik z Jan 25, 2010
1288 postów
Jan 20, 2019 at 07:43
Uczestnik z Jan 25, 2010
1288 postów
A professional trader is analogous to a professional gambler:
https://www.forex-warez.com/Free%20Download/Edward%20Thorp%20-%20The%20Mathematics%20of%20Gambling/
https://en.wikipedia.org/wiki/Kelly_criterion
https://www.thebalance.com/how-much-money-stock-day-traders-make-1031069
...a person that knows the "game" and "how to play it" for success.
https://www.forex-warez.com/Free%20Download/Edward%20Thorp%20-%20The%20Mathematics%20of%20Gambling/
https://en.wikipedia.org/wiki/Kelly_criterion
https://www.thebalance.com/how-much-money-stock-day-traders-make-1031069
...a person that knows the "game" and "how to play it" for success.
Uczestnik z Jan 25, 2010
1288 postów
Jan 20, 2019 at 07:44
Uczestnik z Jan 25, 2010
1288 postów
Uczestnik z Aug 27, 2017
875 postów
Jan 31, 2019 at 12:24
Uczestnik z Aug 27, 2017
875 postów
HyperAI posted:
I heard a myth about 5% of traders who know what is a profit on forex trading. My option - luck makes a trader profitable.
Then you are wrong; the success is all about the trading skill; without proper knowledge we all are unlucky.
keeping patience.......
Jan 31, 2019 at 13:36
Uczestnik z Jan 31, 2019
15 postów
Adribaasmet posted:HyperAI posted:
I heard a myth about 5% of traders who know what is a profit on forex trading. My option - luck makes a trader profitable.
Then you are wrong; the success is all about the trading skill; without proper knowledge we all are unlucky.
You are lucky if you got a proper knowledge.
The AI is the future.
Uczestnik z Feb 22, 2011
4573 postów
Jan 31, 2019 at 14:28
Uczestnik z Feb 22, 2011
4573 postów
HyperAI posted:
I heard a myth about 5% of traders who know what is a profit on forex trading. My option - luck makes a trader profitable.
Luck does work. For a while. Like you can make fortune in casino one night and lost your house next 10 times.
What does really make professional trader is following professional trading plan.
Majority of guys here do not do so...
Feb 05, 2019 at 12:26
Uczestnik z Feb 05, 2019
43 postów
Professional trading plan is gained over years of experience and mistakes. This is a difficult path that every professional must go. Most of traders really only want quick money, but do not want to work for it.
my experience is my profit
Uczestnik z Jan 11, 2019
11 postów
Uczestnik z Jan 25, 2010
1288 postów
Feb 07, 2019 at 09:10
Uczestnik z Jan 25, 2010
1288 postów
I like what this guy says: 0.01 Lots per $1000 MAXIMUM.
Consider a $10,000 account: you will not trade more than 10 x 0.01 Lots, or a maximum of 0.10 Lots.
You won't make much. But you won't lose much either.
So who starts with less than $10,000?? Many unprofessional traders do...
Consider a $10,000 account: you will not trade more than 10 x 0.01 Lots, or a maximum of 0.10 Lots.
You won't make much. But you won't lose much either.
So who starts with less than $10,000?? Many unprofessional traders do...
I also ask of you to be wise and smart. Trading is a business and not a gambling house. I trade at .01 lots per bullet fired off and per $1,000 USD of account value. Going over this can become very risky if you are wrong in direction. DD (Draw Down) can hurt if you trade larger bullet sizes and is very unwise. I ask that you treat this as a business and not a "get rich quick" casino.
Uczestnik z Dec 28, 2013
160 postów
Feb 07, 2019 at 12:32
Uczestnik z Dec 28, 2013
160 postów
Prest posted:
Professional trading plan is gained over years of experience and mistakes. This is a difficult path that every professional must go. Most of traders really only want quick money, but do not want to work for it.
Yes, I second this. I'm keeping my fingers crossed that I'm not going to change my strategy. Impulsiveness is an enemy. I would describe trading as a skill like reading and writing. It takes time to learn how to read, and even more so how to write neatly, or if one is a skilled calligraphist there is a lot of work involved.
It is a step-wise process..
And then, a professional has gone through a lot of BS and mumbo-jambo filtering out all that unnecessary and even false knowledge.
I'm not a pro.
Uczestnik z Dec 28, 2013
160 postów
Feb 07, 2019 at 12:40
Uczestnik z Dec 28, 2013
160 postów
BluePanther posted:
I like what this guy says: 0.01 Lots per $1000 MAXIMUM.
Consider a $10,000 account: you will not trade more than 10 x 0.01 Lots, or a maximum of 0.10 Lots.
You won't make much. But you won't lose much either.
So who starts with less than $10,000?? Many unprofessional traders do...I also ask of you to be wise and smart. Trading is a business and not a gambling house. I trade at .01 lots per bullet fired off and per $1,000 USD of account value. Going over this can become very risky if you are wrong in direction. DD (Draw Down) can hurt if you trade larger bullet sizes and is very unwise. I ask that you treat this as a business and not a "get rich quick" casino.
I think probably you both are on a different scale talking about the same thing: trading.
If one is trading in 15M time frame that trader can use a bigger lot size than the guy trading 1D. Stop loss can be smaller than the 1D guy uses. Similar set up on both ends can have a devastating effect to the other.
If one starts small then he either ´dies´ or succeeds and then he is a pro and no longer has less than 10k in his account.
Uczestnik z Jan 15, 2019
11 postów
Feb 10, 2019 at 07:22
Uczestnik z Jan 15, 2019
11 postów
It is easier to start on smaller time frame if you have a small account. Trading with 0.1Lot and using a 30 pip stop loss will only result in a small loss but if you are on a longer time frame and use 200 pip stop loss then 0.1Lot cold result in big loss

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