How to be a good trader?

Discussion in 'Forex' started by luxergarden, Oct 30, 2018.

  1. pipeguy

    pipeguy

    Tried this broker but my experience was unsatisfactory. Later move on Hotforex and still enjoy experience. Although sometimes I get slippage on my fast trades but I think these costs are unavoidable
     
    #11     Dec 15, 2018
  2. Nice way to get your aff link in there LOL
     
    #12     Dec 16, 2018
  3. Weelor

    Weelor

    I think that a good trader has many attributes in him. He doesn't rely on a single charateristic. The best thing about a good trader is that he learns from his mistakes and try to ammend it in the next session. I think that this is top quality of a good trader.
     
    #13     Dec 16, 2018
  4. The man has a point.
     
    #14     Dec 17, 2018
  5. fube

    fube

    I think it's about the mental aspect. I think developing the mental framework is key to becoming a good trader. I think once you start seeing the market for what it is--a game of probability, variance, and risk management--then you can manipulate the pieces better. By that I mean, understanding the concept of basic probabilities such as playing the following game: Risking $0.30 to make $1. Or playing a game where you risk $0.15 to make $1. Constructing the mindset where you accept that you are committing yourself to an endeavor that has considerable variance. Positioning yourself and strategies in a way where your wins are significantly greater than your losses. Allowing at least several losses to be recovered by one win (I know this may not be the case for scalpers who are 1:1, but I am speaking in a general sense). I think the mental game of the markets is key to becoming good. Once you start seeing there is a way to enter trades where you have a 1:3 or 1:2 favorability, then you start to trade better and more efficiently.
    Edit: Also, remembering that the money is just a way to keep score.
     
    #15     Dec 17, 2018
    John.rizcallah and nickynoes like this.
  6. noahark

    noahark

    You just helped him double the link be quoting :D
     
    #16     Dec 18, 2018
    wwatson1 likes this.
  7. bublu

    bublu

    I don't think any doubling had happened because everyone here on forums knew about affiliate links.
     
    #17     Dec 24, 2018
  8. IF I can pick anything here is two words; risk management and money management. These are very important if we must succeed in the market, else we would be dashing our funds out in the air.
     
    #18     Dec 24, 2018
    comagnum likes this.
  9. ah shit
     
    #19     Dec 28, 2018
  10. Bonuses have upgraded so much, you can actually trade with them. It depends on the broker though, because you can actual transfer your bonuses to your account and trade with them. That's a total gain or win for me.
     
    #20     Dec 28, 2018