I'd like to do my post like separate, new thread, but unfortunately has no rights... So, I want to remind you about one of the greatest traders of all time - William Gann. As well as his rules: 1. The struggle for success - if you want to be successful, the most important rule is to strive for your success. 2. responsibility for results - you need to achieve success by yourself - it all depends on you. 3. Plan for Trade - When you enter market, you have to imagine a clear game plan as a relatively entry into market, and in relation to output. 4....
Ignored
Provided good information. Money and risk management helps increase trading profits. Plan and discipline together help to make a consistent profit in trading.
Do you have any advice on making a good trading plan?
Ignored
To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.
{quote} To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.
Ignored
That is an excellent way of putting it. I wonder how much of it is unhealthy ego - many of us don't want to admit even to ourselves we've got weaknesses.
{quote} That is an excellent way of putting it. I wonder how much of it is unhealthy ego - many of us don't want to admit even to ourselves we've got weaknesses.
Ignored
YES 2 really good valid points + excellent points
i always suggest stick to what you are good at
all strategies work one need find what suits them ,,, whether its trend trading / counter trading/ range trading or whatever... don't over complicate so what gives you best results and WHICH keeps you most mentally sane haha and stick to that
For example i know i am rubbish at trend trading so i dont do it , i stick to my counter stuff ...
i would be more annoyed trying to trade trend and losing money than losing money doing what i think knows works for me best
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Joined Jul 2020
|131 Posts
First you have to give time for learning. It's a professional work that requires specific knowledge and skills. Once you have necessary skilled, you can do it just by spending one or two hours per day. But for learning you have to put your efforts and dedication. One more thing learning doesn't happen in one or two months. You have to spend good amount of time depending on your level of understanding and other factors
To be a successful trader you need to take forex trading for what it really is and not what you think it is. Forex trading is a business and in business you always need to jwn what it's all about. Forex trading may seem simple to some but it is actually very complex when it comes to making successful trades. Some people are just never able to make successful trades no matter how hard they try. A successful trader starts off as a beginner but is is what they do that asks them the successful trader. There are so many things that they have to do and all of those things are covered in the various forex courses or some forex trading books sold by expert traders.
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Joined Aug 2020
|109 Posts
Successful traders always work according to discipline and plan. Money management and risk management are a part of their trading. And there are always some reasons for their success.
To be a successful trader you need to take your own path. People find it very hard to become successful traders and most of the time they wonder how he successful traders became who they are. If you ever find yourself thinking like that when you are doing something wrong and you need to get rid of it. Try to come up with a better insult than that. Do not compare yourself to others or try to be like other people. You need to know your own definition of a successful trader and make sure that you become just that. It is not easy but with hard work and determination you can easily make it to the level. Just keep trying.
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Joined Jan 2021
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Status: Junior Member
|4 Posts
To be a successful trader don't you need to loose and gain? I started recently but I am disappointed. On the other hand I don't want to take any signal providers and tell me what to do as I believe that trying on my own would be better. what do you say about it? am i wrong? by reading and applying the things you learn everyday it's better for me and by loosing I learn how to gain also. i would appreciate it if someone tells me his/her opinion
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Joined Mar 2017
|490 Posts
generally we believe that only good knowledge and experience can bring success from this trading place but besides this we the traders have to make sure a reliable support from a credible broker , because the broker can affect the result of our trading with certainly.
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Joined Apr 2018
|459 Posts
successful trader is a trader who can predict the real faction of this market with certainly , they never try to bring profit overnight. step by step their strategy
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Joined Mar 2017
|484 Posts
i thnk in order to my trading experience there
is no one who can predict the real faction of this market with certainly, so it's not a practical speech.
