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    Thread: Tell me what are the characteristics of successful trader?

    1. #11
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      Default Re: Tell me what are the characteristics of successful trader?

      I will first of all give my definition of a successful trader, so that I can be able to list the characteristics

      I will define a successful trader as a trader who has been able to earn consistently in forex trading and he is still earning consistently up till now. A trader that knows his way round the market and can properly manage every situation he finds himself without been sentimental due to his emotions. A successful trader is one in which when calculated his total trades I'm a week, he records profit.

      Characteristics of a successful trader

      1. He knows the right time to take the necessary decisions in the market, irrespective of his trades outcome at that point, he is not sentimental in making decisions when trading.

      2. He can win every 7/10 of his trades in the market or been able to generate weekly return after the sum or total of all his trades in a week.

      3. A successful trader is one that can be able to managed his opened trades to either come out with maximum profit and when it's a losing trade, come out with minimal loss.


    2. #12
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      Default Re: Tell me what are the characteristics of successful trader?

      A successful trader is supposed a very patient person, they are not the type of trader that will consider the possibility of entries that are not well analysed, the characteristics of a forex trader which is patience is a requirement that all traders are required to have if they plan to trade in the forex market for a long time.

      Another characteristics of a successful forex trader is discipline, trading randomly without the discipline of following our money management is a waste of time and money which will definitely be regretted, professional forex traders don't play with their discipline because they know it's importance.


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    4. #13
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      Default Re: Tell me what are the characteristics of successful trader?

      Successful traders always display a healthy dose of optimism, best when it isnít supported by the latest profit and loss statement because they know that drawdowns are temporary and that they have the skills needed to build profits again. Modern society is engaged with negative attitude trends about wealth that traders must overcome in order to make a consistent profit. Successful traders addresses issues of scarcity and doubt, understanding that it will be impossible to turn consistent profits if they donít feel worthy of financial gain. Over time, they understand that self-confidence comes in small steps, by making the right decisions, one at a time. In turn, they earnestly examine each trading day in retrospect, confirming that confidence and wealth-building guiding each action. A successful trader shares positive psychological characteristics that enhance their personal power and the ability to create positive outcomes, including a commitment to physical and mental health and stress management.


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    6. #14
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      Default Re: Tell me what are the characteristics of successful trader?

      Good behavior towards trading and correct handling of the market are the main good characteristics of a successful trader. Successful traders are really positive mindsets, they are always optimistic no matter the situation, and they are not ready to quit like the most unsuccessful traders. Also, successful traders will always be learning and training, so that the can get upgraded at all time, they work on themselves regularly, and try to be disciplined and patient in what they are doing.

      In addition, successful traders are using stop loss all the time, they are minding the money and risk management they are using too, so that they will not be losing cheaply to the market even if they lose at times, because there is no perfect traders. They trade qualitatively, and shun quantitative trading, because they believe that one single trade that is good is better that 10 trades that are bad or inconsistent.


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    8. #15
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      Default Re: Tell me what are the characteristics of successful trader?

      6 BASIC CHARACTER A TRADER SHOULD POSSES.

      1. Discipline
      Discipline is a key trait every trader needs.

      2. Patience
      Patience is related to discipline.

      3. Adaptability
      You will never see two trading days that are exactly alike.

      4. Mental Toughness
      You could also think of this as being thick-skinned. The market will constantly throw losing trades at you, and you need to bounce back.

      5. Independence
      Initially, you'll likely get some help with your trading, whether it's from reading articles or books, watching trading videos, or receiving mentoring. Ultimately, though, it's you who will place your trades and determine your own success.

      6. Forward-Thinking
      Day traders can't be stuck in the past. While day traders use data from the past to help them make trading decisions, they must be able to apply that knowledge in real-time.


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    10. #16
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      Default Re: Tell me what are the characteristics of successful trader?

      The basic characteristics that a forex trader should possess is patience, professional forex traders have this characteristics, that is what is making them to succeed whenever they trade, the failure in this business always want to trade whether they see a good opportunity or not, that is definitely not a good way to earn, when patience is given priority attention by anyone, they will become successful automatically.

      Another characteristics that we can find with successful forex traders are money management, their ability to engage this market with proper risks management has helped them to climb beyond the imagination of other forex traders. These two are needed by all to become profitable to any extent.


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