TGF Premium ⭐ analyst75 Posted October 26, 2018 TGF Premium Share Posted October 26, 2018 THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much. To be successful trading, Dr. Steenbarger has learned: 1. A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month; 2. Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths; 3. A simple trading journal that will help you improve each day; and 4. That the best traders are ones that embrace losses and use them to become better. Author: Dr. Brett Steenbarger Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading www.tallinex.com wants you to make money from the markets. Link to comment Share on other sites More sharing options...
epicresearch Posted October 27, 2018 Share Posted October 27, 2018 To be Successful in stock market is. - Know Your Limits - Don't Miss The Facts - Treat it as a Business - Take Breaks in Between Trades - Don’t React Out of Anger - Concentrate on Your Trading Strategy - Avoid Holding onto Trades for Too Long - Only Use Speculative Money Link to comment Share on other sites More sharing options...
Sininfinity Posted November 1, 2018 Share Posted November 1, 2018 These can be considered as good suggestions and also recommended. But I would not say people should limit themselves with these 4 things. There are more to explore so don't hesitate or limit yourself. Link to comment Share on other sites More sharing options...
Gilstern Posted December 21, 2018 Share Posted December 21, 2018 Dr. Steenbarger had said it very nicely. But it is only less than 10% of all things that pop up in reality with which every dealer needs to cope and find solution for it. This is one of the reasons why I love forex market. I need to keep my brain constantly alert Link to comment Share on other sites More sharing options...
tradesprint Posted January 4, 2019 Share Posted January 4, 2019 On 11/1/2018 at 10:16 AM, Sininfinity said: These can be considered as good suggestions and also recommended. But I would not say people should limit themselves with these 4 things. There are more to explore so don't hesitate or limit yourself. Yes and they should open to embrace new things which can be beneficial to them rather than limiting them in a narrow jar. Link to comment Share on other sites More sharing options...
Sininfinity Posted January 10, 2019 Share Posted January 10, 2019 On 1/5/2019 at 3:31 AM, tradesprint said: Yes and they should open to embrace new things which can be beneficial to them rather than limiting them in a narrow jar. Yeah that's what I also said. If others discourage you from learning anything then they should be cautious about why they are getting discouraged and should do some research. Link to comment Share on other sites More sharing options...
tradesprint Posted January 11, 2019 Share Posted January 11, 2019 Doing some own research is always helpful and is highly recommended as it allows boosting your own confidence as well as earning knowledge about any relevant niche. Link to comment Share on other sites More sharing options...
Gilstern Posted February 10, 2019 Share Posted February 10, 2019 There might be people on Forex who unintentionally discourage other people and this should not ever happen. This is why I always keep on mind how much support new traders need and trying to be always very positive as I understand their sentiment Link to comment Share on other sites More sharing options...
Kerazan Posted April 9, 2019 Share Posted April 9, 2019 A trader must be patient in odre to achieve success in the forex market. Without patience, you'll find yourself quitting after one or two losses. For a trader to start making consistent profits, you need to be able to trade for long, even for years, so that you know the dos and the donts of the market Link to comment Share on other sites More sharing options...
Fegore Posted April 9, 2019 Share Posted April 9, 2019 For a trader to be successful, one needs to be able to control emotions so as to trade with a clear mind. Greed is a major causative factor of failure in the forex market, and being able to work on that will see you stick to your plan and trade cautiously Link to comment Share on other sites More sharing options...
7bledin Posted April 10, 2019 Share Posted April 10, 2019 For a trader to be successful, you must learn to manage your money. Trading is very risky, which means you should ensure your risk management strategies are up to standard. You need to sell what loses and buy what wins. That way, you'll add your profits while reducing your losses Link to comment Share on other sites More sharing options...
Guest Ivanny Posted April 27, 2019 Share Posted April 27, 2019 You forgot to mention the importance of risk management. No matter how good you are, without risk management you cannot keep your capital safe. Link to comment Share on other sites More sharing options...
Dalton33 Posted July 15, 2019 Share Posted July 15, 2019 Ivanny, thank you for mentioning risk management. I dont think that new traders are aware how important these techniques are. With proper capital and risk management they will be able to survive for a long time on this market Link to comment Share on other sites More sharing options...
tradesprint Posted July 15, 2019 Share Posted July 15, 2019 All these things take time and thats why we learn from our daily routine, it is better if we review our trading journal on regular basis and check for necessary improvements in it. Link to comment Share on other sites More sharing options...
Garpolen Posted August 15, 2019 Share Posted August 15, 2019 Certainly Tradesprint, I would fully agree with you. However, in order to reach point where you can make trades, you need to go through process of learning the basics of Forex trading. In second stage, you will be able to learn from your mistakes. Would you agree? Link to comment Share on other sites More sharing options...
mlawson71 Posted August 25, 2019 Share Posted August 25, 2019 Have a strategy, a trading plan and be organized and disciplined enough to follow them. Link to comment Share on other sites More sharing options...
Smoovetrade Posted August 30, 2019 Share Posted August 30, 2019 These are very good advice and trading tips. Thank you for a very wonderful post Link to comment Share on other sites More sharing options...
DerekMan Posted October 17, 2019 Share Posted October 17, 2019 Smoovetrade, I would certainly agree with you. I also like to read a good conversation on forum. This is very interesting topic, maybe this is why so many traders wanted to provide opinion and some very useful advices Link to comment Share on other sites More sharing options...
DerekMan Posted November 7, 2019 Share Posted November 7, 2019 On 8/25/2019 at 5:54 PM, mlawson71 said: Have a strategy, a trading plan and be organized and disciplined enough to follow them. Mlawson, you have provided very good advice for new traders. Without a trading plan, winning strategy and good organisation there is no trader who can make success on this market. These are all important topics Link to comment Share on other sites More sharing options...
mlawson71 Posted November 8, 2019 Share Posted November 8, 2019 Thank you! I agree - a trader needs to be organized and disciplined in order to succeed. Link to comment Share on other sites More sharing options...
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