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

    1. #21
      FX Vampire
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      Tell me what are the characteristics of successful trader?Without mincing words ,a good and successful trader must have acquired a lot of trading experience over years .In order to achieve this feat ,a lot of water must have gone under the drain.However ,these features are very relevant for a trader to be successful on this field. [A] Adequate and knowledgeable skill [B]Wisdom to profit from this market .This is an embodiment of understanding the knitty -gritty of market movement. The inherent discipline required to trade profitably. Employing the use of S/L ,T/P , 2% trading rule ,sound money management ,Risk management techniques .[C] Psychological and emotional control that will fetch meaningful result .The patience to wait and spot good set up for trade entry is part of emotional control in order to get the very best out of the market .


    2. #22
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      Characteristics of a successful trader are:

      1. Understanding of the Market Structure- this is where practice comes into play, when you are always in the mood of practice, the chances are that you will understand the market much better than anyone that has not involved himself in same activity.

      2. Patience: There is no success without paying some great attention to patience, waiting before you hand moves to pull the trigger will save you from many challenges, this is where many people lose their money because of their inability to acknowledge the essence of patience.

      3. Trading with Money Management: for someone to be successful as it is suppose to be, money management has to be present in his consciousness always.


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