Successful Traders VS Failure Traders - Page 32
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Thread: Successful Traders VS Failure Traders

  1. #1
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    Successful Traders VS Failure Traders

    Successful traders:

    1.They Have better market education, tools, and strategies than most traders: No matter how good your mental game is you must have the right skill, tools, and strategis

    Attachment 11891

    2.They Define their Job differently than most traders: A trader is simple a simply a professional decision marker in a real time, pressure based environment

    3.They Define trading success differently than most traders: This is one of the biggest difference between winning and losing traders its counter intuitive

    4.They have a different trading philosophy and strategy than most traders:
    a. A differ way of looking at discipline
    b. Well tested and effective trading strategy

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  2. #311
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    Quote Originally Posted by Hukam View Post
    Yeah and its totally depend upon a trader that how he is learning from others and how is creating his journals to learn from himself, well said this is right trading with discipline would give us a good mindset and we would able to make this business a professional business rather than a filed of battle or war. Tension, frustration these only appear in forex when we are greedy or emotional in trading.
    Yes learning from others, learning from ourselves and learning from every possible source will eventually contribute to improve our trading. It will become impossible to control emotions when we do not have the right approach. When we follow patience and discipline in trading the effects of emotions will automatically be on the lower side and the efficacy of our trading will be on the higher side.

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  3. #312
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    In forex trading, the goal is to earn $50 to $500 per trade and minimize losses on losing trades using technical indicators on charts. The potential to profit is there for those who trade with using system. The great thing about forex trading is that you can test every system for free on a demo account using virtual money, before you risk one penny on actual trades.

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  4. #313
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    Yes, I agree with you, testing is very important because it allows you to check the performance of your strategy without exposing your real account to the risk of financial loss. That is why you should test any strategy you are going to use before utilizing it on real account. Demo acount could be very useful if you would like to make some changes to your strategy because it will allow you to understand how such changes would impact the performance of your stragey. So, each newbie trader should trade on demo long enough to become confident in his trading skills, and in profitability of his strategy too.

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  5. #314
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    Quote Originally Posted by Khimi234 View Post
    Successful traders:

    1.They Have better market education, tools, and strategies than most traders: No matter how good your mental game is you must have the right skill, tools, and strategis

    Attachment 11891

    2.They Define their Job differently than most traders: A trader is simple a simply a professional decision marker in a real time, pressure based environment

    3.They Define trading success differently than most traders: This is one of the biggest difference between winning and losing traders its counter intuitive

    4.They have a different trading philosophy and strategy than most traders:
    a. A differ way of looking at discipline
    b. Well tested and effective trading strategy
    Hello khimi234
    Good morning how are you today? i hope u fine . i think there are many other reasons to loose money if you are doing any careless trading in present that mean you will not be able to make consistent profit. We have to not only focus on few things its very important give same respect to other terms also. Along with it we have to control our over confidence, high risky trading or aggressive trading etc in forex.

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  6. #315
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    The main difference between the successful trader and losing one is that successful trader actively works on improvement of his trading performance. The best way to do this is to analyse all your trade in general and each your trading decisionin particular to find mistakes that take place from time to time and to eliminate them at all. At the same time, you should also pay attention to the improvement of the efficiency of your trading strategy. Nowadays it is quite easy since there are special tools allowing you to analyse each element of trading process. For example, it would be very useful to check the performance of the strategy using special tools like Forex Tester - backtesting software that executes simulated trades using historical data provided by brokers. As the result of such testing, you will get the important details on the performance of your strategy, such as risk-reward ratio, win rate, maximum drawdown and the average number of losing trades in a row. This information will help you to find the weakness of your strategy to be able to make changes necessary to improve the profitability of the strategy. The use of the software allows trader so spend less time on all these actions, and also to pay less efforts.
    In other words, you should search for the ways to improve each element of your trading process to become successful.

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