3 Things That Makes a Good Trader

CryptoPopo

Private, 1st Class
Messages
51
  • Trading Psychology (Most Important)
  • Money Management ( Compensation of loss/profit)
  • Strategy ( Least Important)
Most new traders tend to focus more on Strategy and ignore the fact that strategy is the least important thing on their list. Please do develop your trading psychology since it is the most important thing in trading. Can't let your emotions get the best of you.
 

bigdolly

2nd Lieutenant
Messages
1,125
  • Trading Psychology (Most Important)
  • Money Management ( Compensation of loss/profit)
  • Strategy ( Least Important)
Most new traders tend to focus more on Strategy and ignore the fact that strategy is the least important thing on their list. Please do develop your trading psychology since it is the most important thing in trading. Can't let your emotions get the best of you.
Stop loss and take profit will do the trick. If you honor them in your trading of course
 

CryptoPopo

Private, 1st Class
Messages
51
And I`ll suggest keep distance from Options trading :)
hahaha it's gonna be pretty hard for new traders to keep distance from options, cause it's basically more 'interesting' since new traders know the profits they are making through each trade. Options are basically an introduction for new people to the trading world, and would eventually evolve to other forms of trading.
 

FxMaster

Lt. Colonel
Messages
10,237
hahaha it's gonna be pretty hard for new traders to keep distance from options, cause it's basically more 'interesting' since new traders know the profits they are making through each trade. Options are basically an introduction for new people to the trading world, and would eventually evolve to other forms of trading.
And it's turning into most scamming as well. Read this and this to get the idea why I say no and will suggest not to go with it.
 

Melvin Leon

Recruit
Messages
54
Yes you are right psychology is not most neglected thing is forex trading though it is the most important aspect of trading. People are looking for ready-made strategies. They change the strategies one after another. But do not try to adapt the trading psychology. As a result most of the traders fail in trading.
 

MarryLo

Recruit
Messages
57
Yes I agree with you as you have pointed out the basic requirements for Forex trading. Forex psychology is the most importatnt because trading is directly related to the emotions. Your strategy is the key of your success as well.
 

CryptoPopo

Private, 1st Class
Messages
51
Yes you are right psychology is not most neglected thing is forex trading though it is the most important aspect of trading. People are looking for ready-made strategies. They change the strategies one after another. But do not try to adapt the trading psychology. As a result most of the traders fail in trading.
And most people with really low psychology tend to think that trading is an easy and don't need practice. And when they screw up, they will always blame the broker. #tradersthesedays
 
Top