Can You Define a Successful Trade?

Discussion in 'Forex Trading' started by fxgator, Mar 16, 2012.

  1. fxgator


    This single question seems to be at the heart of both success and failure as a trader.

    I'm curious as to what others use as their measuring rod for success. Is it accuracy, net ROI per trade, a positive MFE/MAE ratio, not getting stopped out, leaving a certain % of pips on the table in each position held, etc. etc., etc. How do you define it?

    When you look in the mirror in the morning and say to yourself: 'You know something, you are a successful trader," what does that mean exactly?

    Define: Successful Trader.
  2. Handle123


    Define: Successful Trader.

    Everyone has different agendas or goals, depends on the cycle of skill and years of trading I would think. But when I wake up in morning, to me, I am concentrating on not having a losing trade. By keeping my losing percentages extremely low, I have many more options like averaging down on each trade, so that on breakeven trades, I have made money. Most think it is getting in at perfect places is the answer, but reading the chart after that is where the profits are.
  3. I guess a successfull trader is a combination of successfull trades and money earned with a touch of balance between your social life and trading life! :D
  4. makes money & stays legal.
  5. Success has to do with finding and following one’s calling in life.

    In trading, many apply but very few are suited for the game.


  6. TRS



    perseverance, discipline, confidence and humility
    and a bloody good mentor helps....

    money is a by-product.
  7. There is only one measure to determine if you are successful or not:

    Your P/L.

  8. VielGeld


    +ve over a consistent period with a demonstrable edge, for the "trade" part.

    Emotional stability and ability to take a loss while demonstrating focus, discipline, dedication, and extreme patience for the "trader" part.

    Also, a Zen-state of mind is not required, but highly recommended!

  9. The p/l and of wall street crooks is bigger.So they are successful in trading?

    Trading by investment banks is robbing their clients , by robbing bonuses from funds.
  10. Not true, you can get a good P&L by luck, or by taking silly risks, or by using a strategy that banks coin 4 years in a row then blows up after 5 years. Successful traders can have down years, or lose large sums due to bad luck from external events.
    #10     Mar 23, 2012