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    Thread: Qualities of successful traders

    1. #1
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      Post Qualities of successful traders

      Successful traders have the following qualities:
      1. They always take action when there is valid, high probability signal. They dont let their fear control their decisions and interfere with their trading.
      2. They take responsibility and learn from mistakes. They dont dwell on setbacks.
      3. They expect and accept losses as part of the trading.
      4. They always focus on following the system.
      5. They focus on being consistent and following pre determined entry and exit rules.
      6. They keep patience and wait for high probability opportunities.
      You Can Do It.


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    3. #2
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      Hello, you are right. Successful traders are the ones who have disciplined themselves and trained their minds to work in a particular way. You have made a lot of points, and these points are true. In addition, a successful trader is someone who comes across obstacles on his way to success but he eventually jumped pass them and strived for what he wanted. Forex is not an easy business, but a success-hungry trader would do anything to get himself succeeded no matter what.


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      a successful trader must have the qualifications and quality in trading forex. so that my ability is given to increase and get better because with good qualification skills, the results of the technique obtained if we are better we must strive so that we can trade in our own way with our own strategy to generate profits that are in line with our expectations. With good money management with good analysis, we can anticipate the losses we will receive and the many benefits we get if we can have qualifications in trading forex.


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      I was thinking about "Driving" analogy. We can compare trading with Formula One driving championship.
      One can easily learn how to drive a car (change gear, brake, ...) but driving in a contest is completely a different thing.
      Similarly, you can easily learn trading (entry, exit, plan, money management, discipline) but making consistent profit in the market is completely a different thing.
      You may have been driving for 10-20 years now but probably you are not able to compete with a F1 driver. So what is the difference here?


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      Successful traders also have a very high degree of emotional control. Its not just in trading but in every field, self discipline is a crucial predictor of long term success. People who are successful in trading have high emotional intelligence. They don't let their fears force them to hold losing trades unnecessarily neither they miss trades out of fear. Whenever they face a loss, they are strong enough to accept it and analyze what led to that loss. If its because of their emotions, they immediately take steps to ensure a similar mistake doesn't happen in future.


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      Qualities of good trade patience hard working and always trade with trend never trade against the trend set stop loses and not become greedy


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      Quote Originally Posted by Shollybright     
      Hello, you are right. Successful traders are the ones who have disciplined themselves and trained their minds to work in a particular way. You have made a lot of points, and these points are true. In addition, a successful trader is someone who comes across obstacles on his way to success but he eventually jumped pass them and strived for what he wanted. Forex is not an easy business, but a success-hungry trader would do anything to get himself succeeded no matter what.
      Yes, only such people will achieve something in trade. Because often many only dream that they will earn a lot. Often they are looking for easy ways, hoping that everything will be easy and simple. But here you need to work. And you need to be hardworking, you need to love trade and only have a lot of ambitions to live. And strictly adhere to many rules.


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      Hi friends the quality of best trader is first of all he have a cool mind and great controller on our emotions second is get knowledge about trading and market up s and downs and hard working is really important and get experience is good for good results.


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      Hello friend, every trader must develop some qualities/attributes that makes them distinct from others. These qualities which has been developed over a period of trading are often what make or mar most traders.

      Below are good qualities have put together:
      - A good trader must be willing to learn everytime: since the nature of this business is dynamic, always changing daily due to factors that are uncontrollable. A trader must always update themselves with current happenings around the world.
      - Top notch discipline and patience: discipline is an attribute that MUST be learn. Without it, we will have little or no control over our proceedings.
      - Time and Risk management: while trading could be addictive and interesting at the same time, every trader should learn how to manage his/her time according and know when to stop trading to the day in order to avoid over trading.
      - Design your own trading plan.
      - Be optimistic and forward thinking.


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      In fact, psychologists have profiles of the personality traits and ways of thinking of many groups in this society, such as police officers, pilots, firefighters, employees and workers. Therefore, they can know the personal characteristics predominant for all categories according to their work, since it must affect the work of man on his personality and this is normal, has been proved through the tests of the standard psychologist where they found that there are common qualities acquired by the person through his work and be shared with the features The personality of other people doing the same work, but what function gives the owner the features necessary to trade in the Forex market? Or rather what are the personal traits necessary to be in the trader so that he can trade in the currency market.

      These features include:
      openness
      The most successful traders are those who are open to new ideas, non-fanatics of their ideas, and who do not close their minds to other ideas if there is evidence of their effectiveness in a significant and significant way. Therefore, the reception of new ideas helps them to develop and improve what they know about the market and so they can try out the promising ideas in this market, which may return them to many profits. In this regard, it is possible to distinguish between two types of contradictory qualities such as introversity and openness. It is true that trade is a solitary activity, but opening to others and communicating with them leads to an exchange of ideas and information. This will improve your thinking and save you from isolation. Your trade.

      Conscience
      But we mean that trade gives its right to hard work. Successful traders take their jobs seriously, so that they do not unfairly trade or personal life. So you have to realize that when you give the trade your time and effort, They will give you money, so give it to you to give. You must maintain a regular schedule to record all events and activities.

      Get ready for help
      The most successful traders are those who are willing to share their knowledge and skills with others to help them improve. Many successful traders have become trainers for other traders to help them succeed. They are certain that some trainees may not be successful traders, but they know that the result could make a real difference for some.

      Neuralism
      This feature can be appropriate in other professions and those who specialize in sports, but can not in any way that this attribute is suitable for traders, especially in the currency market, that the positive outlook or optimism is one of the most important things must be available in all things of life, Especially in trade.

      In the end, this does not mean that people who do not have these features can not become successful forex traders. Motivation, motivation and reinforcement help to develop techniques to overcome all imperfect qualities


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