3 important things to become successful trader

Discussion in 'Website Development & Online Marketing' started by VakaFx, Jul 16, 2020.

  1. VakaFx

    VakaFx New Member

    Trading is very difficult. In fact, in order to trade well, we only need to perform well what is needed for a trading strategy. Many traders lose money because they do too many unnecessary things, which can make themselves complicated in the trading process. So if you want to become a successful trader, you need do remember 3 important things below:

    1. Do NOT find perfection in trading

    Nothing is perfect and neither is trading. However, many traders require it to be perfect. Sometimes I meet traders who are looking for a winning method, or looking for a dream-like strategy,...

    [​IMG]

    Even if this perfection exists, we should not want or seek it, because sometimes it makes us miss a lot of good things in trading. It is this that prevents you from accessing other things. And sometimes perfection makes you too meticulous and makes you create a kind of fear - which is something that should not be in trading at all.

    2. Do NOT be afraid of losses

    Not being afraid of losing money here is mainly about the psychology of fear of losing money. Many traders are afraid of losing money but don't dare to trade or make many wrong trading decisions. Psychological fear can make traders prone to anxiety and it greatly affects trading results. The only way to limit losses is to manage capital well.

    3. Do NOT join with poor quality signals

    Most traders lose money by engaging in poor quality transactions - that is, transactions without selectivity. Market signals are numerous but mostly of poor quality. And if traders don't filter out signals anymore, it's obvious what the losses are.

    So we need to know how to say "no" to the temptation of poor signals. One way is to improve the quality of our transactions, the second is to improve our trading results and to improve our long-term profitability.

    Those are 3 things that look simple but are not easy to do. However, if we can say no to these three things, we can avoid quite a lot of trouble in trading.

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    Last edited by a moderator: Jul 16, 2020
  2. Charles T

    Charles T Administrator

    @VakaFx I like the image you used here! The variability of the graph's lines really emphasize your first point well.

    Re: the third point about avoiding "poor quality signals" - I'm not sure that I follow. What specifically do you consider to be some of the "market signals" to avoid or acknowledge?
     

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