How to become a successful trader?

Discussion in 'Forex' started by Coner1980, Jan 21, 2021.

  1. themickey

    themickey

    Forgettaboud Brooks and don't follow anyone religously.
    Use your own brain to work it out.
    Even Tiger Woods' coach can't play to Tiger's standards by copying/emulating.
    ET is full of cultists who lack a brain to think for themselves.
     
    #51     Jan 22, 2021
  2. algoseek

    algoseek Sponsor

    Forex is not a get-rich-quick scheme. Consider this please.
     
    #52     Jan 22, 2021
    murray t turtle likes this.
  3. The path to become a successful trader starts with learning. Learn as much as you can about the forex market. Then only you can make appropriate strategies for your trading.
    Also, don’t forget to go for demo trading before jumping into the real one.
     
    #53     Jan 22, 2021
  4. padutrader

    padutrader

    if you cannot or will not follow what he says anyone will lose money.

    that was the case with me

    i did not follow him......totally.....

    you have to start step by step like he says in the book.

    trade one set up......he suggest one........so read the book......

    and trade demo when you try anyone new
     
    #54     Jan 22, 2021
  5. padutrader

    padutrader

    day trading i do treat like gambling

    that is what i am saying
    no casinos in India

    cannot leave India too many responsibilities here
     
    #55     Jan 22, 2021
  6. zghorner

    zghorner

    what medication do you speak of?
     
    #56     Jan 22, 2021
  7. Ask your doctor. Some degenerate gamblers take meds. Medications that have been found to be helpful in decreasing either the urge to gamble or the thrill involved in doing so include antiseizure medications like carbamazepine (Tegretol) and topiramate (Topamax), mood stabilizers like lithium (Eskalith, Lithobid), medications used to address addictions like naltrexone, etc.

    The treatment of compulsive gambling usually uses more than one approach, including psychotherapy, medication, financial counseling, support groups, 12-step programs, and self-help techniques.
     
    #57     Jan 22, 2021
    zghorner likes this.
  8. zghorner

    zghorner

    I might just borrow some of grandmas lithium and see what happens, thanks for the great idea.
     
    #58     Jan 22, 2021
    TimtheEnchanter likes this.
  9. I would not take lithium as the therapeutic dose is close to the poison dose. Long-term use of lithium will kill your kidneys and you may be on dialysis! You can get in a coma and/or suffer permanent brain damage. If you are a gambler, take it seriously and try to have a professional take a look at you.
    I was a gambler for most of my adult life but, various factors "fixed" it, one being my marriage and the birth of my daughter. I am in therapy and had an on and off unbalanced impulse control. As impulsive I was I lost a tidy sum with a prop firm, then I turned to Poker where I lost far more.
    Because of COVID, I would not play table poker and I find online poker boring. It seems I do not need the ups and downs adrenalin surge of gambling. Amusing tidbit; I worked in a Casino for 14-years. I have seen people with 10 houses in San Francisco, lose it to the one house to have a roof over their head. It is a sickness.

    Most traders have the issue of impulse control for various reasons. Then they will self-sabotage no matter how talented they may be.
     
    Last edited: Jan 22, 2021
    #59     Jan 22, 2021
    zghorner likes this.
  10. zghorner

    zghorner

    im not a gambler...but If there was a way to chemically enhance my trading ability...im in.
     
    #60     Jan 22, 2021
    murray t turtle likes this.