What makes one a Professional Trader?

GeorgeDow posted:
Its interesting that everyone here believes that he's right.
Perhaps it is.
Everyone is right and wrong at the same time.
Constancy is an uncountable concept. A year of stability? Why a year?
As everyone knows, the market becomes different over the years. What worked a year might suddenly stop working.
A small drawdown? the maximum is that he observes money management. But it has nothing with professionalism. Only numbers.
The psychological factor at the current moment is not the last criterion.

I believe the pro is someone who loses and learns on falls, he is the one who can quickly adapt to the market changeability. The permanence is different for any of us, even 4 months is already a good trading.

Hmm, ability to adapt rather refers to the personal qualities of each person, personality. Trading in any conditions is on the brink, because no one can know all tricks that the market can show.
Yes, the indicators of drawdown and average earnings are just figures that do not make anybody a professional. But here is the paradox ... Money is also just figures:) And what would we do without them on Forex?
What do you mean by the psychological factor of a professional trader?

GeorgeDow posted:
Its interesting that everyone here believes that he's right.
Perhaps it is.
Everyone is right and wrong at the same time.
Constancy is an uncountable concept. A year of stability? Why a year?
As everyone knows, the market becomes different over the years. What worked a year might suddenly stop working.
A small drawdown? the maximum is that he observes money management. But it has nothing with professionalism. Only numbers.
The psychological factor at the current moment is not the last criterion.

I believe the pro is someone who loses and learns on falls, he is the one who can quickly adapt to the market changeability. The permanence is different for any of us, even 4 months is already a good trading.

Hmm, ability to adapt rather refers to the personal qualities of each person, personality. Trading in any conditions is on the brink, because no one can know all tricks that the market can show.
Yes, the indicators of drawdown and average earnings are just figures that do not make anybody a professional. But here is the paradox ... Money is also just figures:) And what would we do without them on Forex?
What do you mean by the psychological factor of a professional trader?

I believe the pro is someone who loses and learns on falls, he is the one who can quickly adapt to the market changeability. The permanence is different for any of us, even 4 months is already a good trading.Hmm, ability to adapt rather refers to the personal qualities of each person, personality. Trading in any conditions is on the brink, because no one can know all tricks that the market can show.
Yes, the indicators of drawdown and average earnings are just figures that do not make anybody a professional. But here is the paradox ... Money is also just figures:) And what would we do without them on Forex?
What do you mean by the psychological factor of a professional trader?

Klem posted:

GeorgeDow posted:
Its interesting that everyone here believes that he's right.
Perhaps it is.
Everyone is right and wrong at the same time.
Constancy is an uncountable concept. A year of stability? Why a year?
As everyone knows, the market becomes different over the years. What worked a year might suddenly stop working.
A small drawdown? the maximum is that he observes money management. But it has nothing with professionalism. Only numbers.
The psychological factor at the current moment is not the last criterion.

I believe the pro is someone who loses and learns on falls, he is the one who can quickly adapt to the market changeability. The permanence is different for any of us, even 4 months is already a good trading.

Hmm, ability to adapt rather refers to the personal qualities of each person, personality. Trading in any conditions is on the brink, because no one can know all tricks that the market can show.
Yes, the indicators of drawdown and average earnings are just figures that do not make anybody a professional. But here is the paradox ... Money is also just figures:) And what would we do without them on Forex?
What do you mean by the psychological factor of a professional trader?

Everyone has his own concept of psychological factor.
Someone thinks it's perseverance, someone thinks it's clarity of mind.
I consider not only a professional trader, but in general any. To trade, you need to understand that the market is not just a sell / buy game, profit / loss, it's a complex structure with its own character and rules that are on it.
And after that comes patience and the ability to wait where it's necessary.
A professional trader simply combines many factors.

And... it seems you've made a mess here ... posts are posting with a little delay after moderation, just you to know :-)

GeorgeDow posted:
Everyone has his own concept of psychological factor.
Someone thinks it's perseverance, someone thinks it's clarity of mind.
I consider not only a professional trader, but in general any. To trade, you need to understand that the market is not just a sell / buy game, profit / loss, it's a complex structure with its own character and rules that are on it.
And after that comes patience and the ability to wait where it's necessary.
A professional trader simply combines many factors.

And... it seems you've made a mess here ... posts are posting with a little delay after moderation, just you to know :-)

Yes, I got a little confused, thanks :)
The market is one, but there are many of us. Rules are the same for everyone, but everyone takes them in their own way. Someone will say that there are people who move the market, I always answer that this market moves people.
You say that the market is a complex structure with its rules... Is it possible to say that a professional trader should know how the market is arranged, or this knowledge is incomprehensible. What is your experience?

fxdimarion posted:
Consistent profit for at least one year, with low draw downs on a real account of course.

Yes, consistency is the key! Without a consistent result it’s really tough to stay here for a long time.

A professional trader focuses on the PROCESS, not the results. A professional trader knows how much he can make realistically without blowing his account up. A professional trader protects his mental capital at all cost. The IDERR method that helps you become a professional trader

A pro trader is one that makes enough money through trading to support themselves. Even if they have a small account and make only $20,000 a year they are a pro to me. Much better than someone who claim are a professional but make no money from Forex

IndiTrader posted:
A pro trader is one that makes enough money through trading to support themselves. Even if they have a small account and make only $20,000 a year they are a pro to me. Much better than someone who claim are a professional but make no money from Forex

Basically, consistency is the main parameter; I am not interested to judge any trader based on the figure of financial sum instead of the profit ratios.

The successful trader is a trader who has a different systems that work and it is possible to diversify the full amount between different trading accounts and systems.

You can still achieve diversification with the same trading system. If you use that system on different FX pair (or even commodities), then you have diversification for each market. I would rather do that than have 10 systems trading EURUSD

BlueDino20 posted:
You can still achieve diversification with the same trading system. If you use that system on different FX pair (or even commodities), then you have diversification for each market. I would rather do that than have 10 systems trading EURUSD

Sure...
But I meant a different systems that will trade in different market conditions and pairs. Sure, there is no reason to trade EURUSD by 3 EA that open trades simultaneously.
diversification for different markets is also a great strategy.

Zawiri posted:
A number of times i've seen comments on this site alluding that professional traders dont make their statements public; some talk on no solicitation for funds on such forums; some on the need for one to have more than 100 trades and so forth. But what would make one be considered to be Professional coz at some point many aspire to be! Share you thoughts here.

noun: professional; plural noun: professionals
1. a person engaged in a specified activity, especially a sport, as a main paid occupation rather than as a pastime.
synonyms: professional player, non-amateur, paid player; (informal) pro

2. a person competent or skilled in a particular activity.
'she was a real professional on stage'
synonyms: expert, master, maestro, past master, trooper, adept, virtuoso, old hand, skilled person, authority; (informal) pro, ace, whizz, hotshot, ninja; (informal) dab hand, wizard; (informal) maven, crackerjack; (rare) proficient
antonyms: amateur

It is a fine line between a 'professional' and an 'amateur': a professional is one margin call away from an amateur.

Pro traders are very difficult to find. Most people claiming that they are pro are in fact just amateur. Pro traders usually keep to themselves and focus on earning money rather than telling every one how they trade and giving their secrets away

CheCheChe posted:
Pro traders are very difficult to find. Most people claiming that they are pro are in fact just amateur. Pro traders usually keep to themselves and focus on earning money rather than telling every one how they trade and giving their secrets away

On the other hand, pro traders are social media friendly; so it’s difficult to find out.

Sociability is a character trait, not a criterion of professionalism.
I communicate a lot with different traders, including professionals who have devoted all their time to trading. People are very different.
Professionalism is efficiency.

CheCheChe posted:
Pro traders are very difficult to find. Most people claiming that they are pro are in fact just amateur. Pro traders usually keep to themselves and focus on earning money rather than telling every one how they trade and giving their secrets away

Correct! You are not going to meet any pro trader here and there! Besides, scammers are available here & there. In addition, scammers try to build up a fake image on social media by using their Photoshop skill.

Only one thing makes professional trader. It is following trading plan.
Good trader also has good trading plan.

Okay; but for me I have plan B even plan C according to the market situations! Since, there is no guarantee in Forex; so I have to move with multiple trading plans on trading.