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.
We need to customize or personalize our strategy. Every person needs his own understanding of the market and price. That's why we don't get success by following other's strategy. Without customized strategy, long term success in trading is not possible.
If someone is a new trader, he should do demo trading first. You should get an idea about money management and risk management by trading demo. If you invest big money as a new trader, you are more likely to lose. One should go into real trading by acquiring proper knowledge about trading.