Why are some traders successful?

Medlem sedan Mar 16, 2023   28 inlägg
Mar 24, 2023 at 17:44
NewCityTrader posted:
Why are some traders successful?

The best traders in the beginning weren’t the best. But that’s probably obvious. They had their problems, which they overcame either on their own or someone helped them. They also made both good and bad trading decisions. That’s why you shouldn’t be afraid of making decisions, you should learn to do it. What’s more, most decisions can be changed… although caution should always be exercised.

Why the best traders become the best?

One of the key traits I’ve noticed in the best traders is that they invested in themselves — they spent a lot of time learning the market and the system. This is just as important as in any other profession, because trading is a profession too! For example, if you want to be a good driver, you have to spend a lot of hours driving. Is that obvious? Sure. If you want to cook well, you have to have a good recipe and you have to cook it many times. This is also quite obvious. It is the same in trading.

The path of the best traders was difficult. They encountered problems that no one had ever faced before, they navigated in the dark. Many of them created this market! They started on paper.

What problems best traders were facing?

1. They were making and losing very big money. And here is a lesson for you: don’t start with large amounts! Because one thing is for sure — you can make money in trading, but it is more certain that you will lose. Most people who come to the market without preparation lose money, they are just providers of capital. Those who have been in this market for a long time know that it’s enough to bring a client here, and the market will do its job

2. They also failed to maintain discipline. They lacked patience. They struggled with fear, hope, pain from loss and euphoria. They did not control their emotions. They closed profitable positions too quickly and held losses. They even suffered from panic attacks with the market retreating. They didn’t know where to enter and exit the market (a common issue). They didn’t have good systems, they were testing a lot. When they wanted to play back — they compounded their losses and couldn’t stabilize their profits (this is also the norm). Familiar? And yet you can!

This is an extensive topic, so I will talk more about it on another occasion.

Testing trading systems
Now let’s talk a bit about testing trading systems. The thing with systems is that practically all the best traders creates their own trading system. The one that suits you. There is no trader who would play someone else’s system without any changes. There isn’t.

Every trader goes through many teachers.

Especially at the beginning, when you start your career on the market, when you don’t know the specifics of the market, the tools, you don’t know what suits you, what your risk tolerance is and what lies in your possibilities. And so on until something finally hits him, a moment of “acha!” (it’s so easy after all!). This process requires a lot of persistence. Many fall away along the path. Stress, emotion, frustration, loss… They can’t handle it. This is why everything that goes on in our heads is so important and I talk about it a lot.

The trading psychology is the key to success.
Successful traders are disciplined and patient.
They have a solid trading strategy and stick to it.
They constantly educate themselves and learn from their mistakes.


Medlem sedan Mar 16, 2023   28 inlägg
Mar 24, 2023 at 17:46
Maverwallace_5 posted:
Success in forex comes with disciple, consistency and good strategy.
i do agree
Medlem sedan Mar 16, 2023   28 inlägg
Mar 24, 2023 at 17:49
sphinxo posted:
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.
Hey, I see that you mentioned how being in an industry for a long time can help traders overcome struggles and become more adaptable to changes. I'm curious, do you think this applies to all industries, or is there something unique about the trading industry that makes experience particularly valuable? And have you seen any examples of traders who were able to turn their struggles into strengths over time?



Medlem sedan Apr 26, 2023   33 inlägg
Apr 26, 2023 at 02:48
NewCityTrader posted:
Why are some traders successful?

The best traders in the beginning weren’t the best. But that’s probably obvious. They had their problems, which they overcame either on their own or someone helped them. They also made both good and bad trading decisions. That’s why you shouldn’t be afraid of making decisions, you should learn to do it. What’s more, most decisions can be changed… although caution should always be exercised.

Why the best traders become the best?

One of the key traits I’ve noticed in the best traders is that they invested in themselves — they spent a lot of time learning the market and the system. This is just as important as in any other profession, because trading is a profession too! For example, if you want to be a good driver, you have to spend a lot of hours driving. Is that obvious? Sure. If you want to cook well, you have to have a good recipe and you have to cook it many times. This is also quite obvious. It is the same in trading.

The path of the best traders was difficult. They encountered problems that no one had ever faced before, they navigated in the dark. Many of them created this market! They started on paper.

What problems best traders were facing?

1. They were making and losing very big money. And here is a lesson for you: don’t start with large amounts! Because one thing is for sure — you can make money in trading, but it is more certain that you will lose. Most people who come to the market without preparation lose money, they are just providers of capital. Those who have been in this market for a long time know that it’s enough to bring a client here, and the market will do its job

2. They also failed to maintain discipline. They lacked patience. They struggled with fear, hope, pain from loss and euphoria. They did not control their emotions. They closed profitable positions too quickly and held losses. They even suffered from panic attacks with the market retreating. They didn’t know where to enter and exit the market (a common issue). They didn’t have good systems, they were testing a lot. When they wanted to play back — they compounded their losses and couldn’t stabilize their profits (this is also the norm). Familiar? And yet you can!

This is an extensive topic, so I will talk more about it on another occasion.

Testing trading systems
Now let’s talk a bit about testing trading systems. The thing with systems is that practically all the best traders creates their own trading system. The one that suits you. There is no trader who would play someone else’s system without any changes. There isn’t.

Every trader goes through many teachers.

Especially at the beginning, when you start your career on the market, when you don’t know the specifics of the market, the tools, you don’t know what suits you, what your risk tolerance is and what lies in your possibilities. And so on until something finally hits him, a moment of “acha!” (it’s so easy after all!). This process requires a lot of persistence. Many fall away along the path. Stress, emotion, frustration, loss… They can’t handle it. This is why everything that goes on in our heads is so important and I talk about it a lot.

The trading psychology is the key to success.
I think the most important thing is being patient.
Medlem sedan Apr 27, 2023   3 inlägg
Apr 27, 2023 at 09:58
NewCityTrader posted:
Why are some traders successful?

The best traders in the beginning weren’t the best. But that’s probably obvious. They had their problems, which they overcame either on their own or someone helped them. They also made both good and bad trading decisions. That’s why you shouldn’t be afraid of making decisions, you should learn to do it. What’s more, most decisions can be changed… although caution should always be exercised.

Why the best traders become the best?

One of the key traits I’ve noticed in the best traders is that they invested in themselves — they spent a lot of time learning the market and the system. This is just as important as in any other profession, because trading is a profession too! For example, if you want to be a good driver, you have to spend a lot of hours driving. Is that obvious? Sure. If you want to cook well, you have to have a good recipe and you have to cook it many times. This is also quite obvious. It is the same in trading.

The path of the best traders was difficult. They encountered problems that no one had ever faced before, they navigated in the dark. Many of them created this market! They started on paper.

What problems best traders were facing?

1. They were making and losing very big money. And here is a lesson for you: don’t start with large amounts! Because one thing is for sure — you can make money in trading, but it is more certain that you will lose. Most people who come to the market without preparation lose money, they are just providers of capital. Those who have been in this market for a long time know that it’s enough to bring a client here, and the market will do its job

2. They also failed to maintain discipline. They lacked patience. They struggled with fear, hope, pain from loss and euphoria. They did not control their emotions. They closed profitable positions too quickly and held losses. They even suffered from panic attacks with the market retreating. They didn’t know where to enter and exit the market (a common issue). They didn’t have good systems, they were testing a lot. When they wanted to play back — they compounded their losses and couldn’t stabilize their profits (this is also the norm). Familiar? And yet you can!

This is an extensive topic, so I will talk more about it on another occasion.

Testing trading systems
Now let’s talk a bit about testing trading systems. The thing with systems is that practically all the best traders creates their own trading system. The one that suits you. There is no trader who would play someone else’s system without any changes. There isn’t.

Every trader goes through many teachers.

Especially at the beginning, when you start your career on the market, when you don’t know the specifics of the market, the tools, you don’t know what suits you, what your risk tolerance is and what lies in your possibilities. And so on until something finally hits him, a moment of “acha!” (it’s so easy after all!). This process requires a lot of persistence. Many fall away along the path. Stress, emotion, frustration, loss… They can’t handle it. This is why everything that goes on in our heads is so important and I talk about it a lot.

The trading psychology is the key to success.
sometimes i think that most of them lies just to profit from people to join their VIP group
Medlem sedan Mar 16, 2023   28 inlägg
Apr 27, 2023 at 18:56
Traders may be successful due to a variety of factors, including having a solid trading strategy, being disciplined and patient, managing risk effectively, and staying informed about market news and trends.




Medlem sedan Aug 19, 2021   225 inlägg
Apr 27, 2023 at 19:33
Oh I think about it a lot.

How do you believe that AI will help the trader to prescribe his trading strategy, offer trading options. And in the future to adapt to market fluctuations. I'm not speaking for EA now. As for me, this is still only a prototype of what artificial intelligence can be in the future. But it seems to me that every day we are getting closer to it.
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