A Tale Of Two Traders, Which One Are You? - Page 154
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Thread: A Tale Of Two Traders, Which One Are You?

  1. #1
    Trader techboy's Avatar
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    A Tale Of Two Traders, Which One Are You?

    In this thread I just want to show a scenario of two traders with different mindset to give emphasis how important to have the right mindset in trading! So I hope fellow members can identify themselves which type of trader they are at these stage of their trading.

    Trader No. 1

    Mindset: He knows that the market can give him a loss anytime
    He accept that losing trades is just part of trading
    He accept that the market is always right and nothing he can do about it
    He accept a lose with ease and never complain or blame his mistakes

    Trading Performance:

    He open a trade, when the market move against his trade
    he accept his loses and just wait for the next trading opportunity
    He is calm in conducting his trading

    Trader No. 2

    Mindset: He is too focus on making profitable trades
    Never give emphasis on risk management
    Believe a perfect analysis of the market
    Never fully understand the character of the market
    Refuse to accept a lose

    Trading Performance:

    Open a trade, when market moves against his trade getting frustrated
    either he hedge or adjust his stop or remove his stop, then the market
    went up again he open another trade to counter the other losing trade
    and now his trading is a mess, he did not know what to.

    Which type of trader you belong?

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  2. #1531
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    trader number two is very wrong and have adventures in his way of the trading . also i see that the trader number one is very right to do his system . with not being greedy and also has very good strategy of patience which enable him to find good results even if the time is too lone . and this will be very effective at the times opf strong news unlike the second trader .

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  3. #1532
    Trader Toyen's Avatar
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    Quote Originally Posted by naeem555 View Post
    if we are making mistakes its normal but if we are learning from loss its best for us and in same time it will increase experience, with this if we trade and not learning from loss we can really lose more and more here and can not survive for long, trader should never think about loss because this is normal if we learn good we can earn later easily good profit, so keep in mind that thing otherwise this is not easy way to earn
    Traders can make mistakes, it will be normally truly. In the moment that the mistakes is getting too much, it is no more normal. One of the mistakes which traders are making is for them to be dwelling in mistakes as if it is something that is normal, but things will be spoiling with that trader. For us to survive, we need experience and management, we need to always learn from the past and avoid future mistakes.

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  4. #1533
    Trader Silhouette's Avatar
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    Quote Originally Posted by Toyen View Post
    Traders can make mistakes, it will be normally truly. In the moment that the mistakes is getting too much, it is no more normal. One of the mistakes which traders are making is for them to be dwelling in mistakes as if it is something that is normal, but things will be spoiling with that trader. For us to survive, we need experience and management, we need to always learn from the past and avoid future mistakes.
    Something's went wrong when we keep getting bad result with our trade and we need to stop at any cost before we lose our entire account. That's right according to what you've said here, making mistakes for traders is normal but don't repeat them so many times at once because it explains how traders can't understand what's going on with market or they don't have any clues why they're trading. Opportunities in market must be analyzed, we can't predict it randomly.

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    rules made to be followed, not to be broken

  5. #1534
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    Silhouette, when we face some bad results we should understand we are doing something wrong, and if we understand this then we should also understand if we identify reasons we can avoid them in future and can earn good profit later, any way we can choose but when we learn from loss and profitable orders we can make some good and strong strategy

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  6. #1535
    Trader Toyen's Avatar
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    Quote Originally Posted by Silhouette View Post
    Something's went wrong when we keep getting bad result with our trade and we need to stop at any cost before we lose our entire account. That's right according to what you've said here, making mistakes for traders is normal but don't repeat them so many times at once because it explains how traders can't understand what's going on with market or they don't have any clues why they're trading. Opportunities in market must be analysed, we can't predict it randomly.
    What i believe is that there is no way traders will be having a good trade result at all time, traders will lose at times, traders can gain at times likewise, it is not the issue here. What is important is for traders to be prepared to take the hit when they lose. They can do that with the proper plans on the use of money and risk management, that will help the trader to secure his trading account at all time.

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  7. #1536
    Trader sniper007's Avatar
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    I believe to be the trader who has a lot of experience about the business. I know what forex trading is all about, I also know that we can only get to become profitable depending on how much skills we have obtained, therefore, at the same time, I know that, the traders who wants to become profitable should be willing to pass through the whole experience and then they should also know that they will make mistakes and that is also where they can learn from.

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  8. #1537
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    Quote Originally Posted by sniper007 View Post
    I believe to be the trader who has a lot of experience about the business. I know what forex trading is all about, I also know that we can only get to become profitable depending on how much skills we have obtained,
    skills can be obtained but for this we need of two things one is our hard work and second is our patience, when we do demo but we do not give it time we can not learn or understand what is better for us, so make sure you do hard work, you do some proper management into trading, success is easy if we have experience and for this give it time and learn from every single order, when we learn from every order it teach us everything

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  9. #1538
    Trader Sascha's Avatar
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    Quote Originally Posted by sniper007 View Post
    I believe to be the trader who has a lot of experience about the business. I know what forex trading is all about, I also know that we can only get to become profitable depending on how much skills we have obtained, therefore, at the same time, I know that, the traders who wants to become profitable should be willing to pass through the whole experience and then they should also know that they will make mistakes and that is also where they can learn from.
    whatever happens to our account has become our responsibility to take care of. we know our capacity of knowledge and understand our skills in trading, this is why we choose our own risk level to trade and measure our possible earning to make later. between good and bad trader, i think we can call ourself as good traders or averagely good because as long as we stay here to learn, we'll never be a bad trader.

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  10. #1539
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    Quote Originally Posted by Sascha View Post
    whatever happens to our account has become our responsibility to take care of. we know our capacity of knowledge and understand our skills in trading, this is why we choose our own risk level to trade and measure our possible earning to make later. between good and bad trader, i think we can call ourself as good traders or averagely good because as long as we stay here to learn, we'll never be a bad trader.
    It is seen that most of the traders are not able to protect their money and lose it fast, this is because they have some mistakes in their trading. When we trade using our knowledge and by making a plan, we do get losses, but they are less than the profits we make. It is our own responsibility that after making a plan, it is carefully implemented without emotions or impatience.

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