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What kind of person can trade?

  • #101
  • Nov 13, 2011 10:46am Nov 13, 2011 10:46am
Hmm, you can learn to be happy with whatever life gives, but that's not the same as being lucky. I know people who are walking disasters, it's not that they're stupid or unprepared, just things don't tend to work out well for them. They're plain unlucky. So, no, you can't.

Quoting ALThau
Good point, and that brings up.......

Can someone learn to be lucky?
forget about tomorrow, just steal away into the night
  • #102
  • Nov 13, 2011 11:27am Nov 13, 2011 11:27am
Quoting spekitox
Hmm, you can learn to be happy with whatever life gives, but that's not the same as being lucky. I know people who are walking disasters, it's not that they're stupid or unprepared, just things don't tend to work out well for them. They're plain unlucky. So, no, you can't.
not sure if you can or can't, but, check this out

http://www.telegraph.co.uk/technolog...-to-learn.html
  • #103
  • Nov 13, 2011 12:42pm Nov 13, 2011 12:42pm
Cool article, thanks for the link. Intuition, variety and looking at the bright side, would that be the secret? Easy skill to learn, ha-ha. If it was that easy, we had more lucky people eh?
Well, as the old TFF song goes, these days it's all in the mind
/Elemental/

Quoting ALThau
not sure if you can or can't, but, check this out

http://www.telegraph.co.uk/technolog...-to-learn.html
forget about tomorrow, just steal away into the night
  • #104
  • Nov 13, 2011 12:47pm Nov 13, 2011 12:47pm
I do believe it can be learned, but mental habits are very hard to change.
  • #105
  • Nov 13, 2011 1:29pm Nov 13, 2011 1:29pm
Well, that's true. Some say you really have to hate your old ways before you can change. You truly have to believe that it's not good for you before you can even think about changing it.

So in the spirit of the truly clever article you posted, may we recommend, anyone wanting to become "lucky" please go with your intuition, please do your routine things sometimes a little differently /different route, different means of transport, different store of the same chain/, and for Christs sake, stop moaning, there are people starving in the Sudan, if you look harder, you'll see that you really don't have anything to be complaining about.

LOL

Quoting ALThau
I do believe it can be learned, but mental habits are very hard to change.
forget about tomorrow, just steal away into the night
  • #106
  • Nov 13, 2011 10:01pm Nov 13, 2011 10:01pm
Quoting spekitox
Well, that's true. Some say you really have to hate your old ways before you can change. You truly have to believe that it's not good for you before you can even think about changing it.

So in the spirit of the truly clever article you posted, may we recommend, anyone wanting to become "lucky" please go with your intuition, please do your routine things sometimes a little differently /different route, different means of transport, different store of the same chain/, and for Christs sake, stop moaning, there are people starving in the Sudan,...
AMEN
  • #107
  • Nov 15, 2011 5:43am Nov 15, 2011 5:43am
Quoting Leonlorenzo
Im very interested to hear from what kind of background FF's current successfull resident traders come from. For the purposes of this thread I would like successfull to be defined as anyone who has been profitable(made considerably more than they have lost) for 2+ years.

You may be an x/current-business owner, top uni grad, bricky, engineer, programmer, scientist or a drug dealer. Regardless of previous occupation Im sure I and others would be interested to hear.
[list][*]Uni grad -The love/want to learn may be why you have found success trading.[*]Scientist...
Yupe this is really good topic. Actually trading doesn't require specific education but yes knowledge about basic forex is must in order to become trader.
  • #108
  • Dec 23, 2011 1:44pm Dec 23, 2011 1:44pm
Quoting craige
I think anybody can trade who have the following qualities,

1] Patience to learn and understand
2] Cut loss and move ahead starting afresh
3] Trade with head and not with emotions
Agreed. But I can't help but feel overwhelmed sometimes as I learn more about forex and how to be a successful trader. So I think another good quality to have is the ability to keep things in perspective and not get too caught up in the minutia at the expense of the big picture.
  • #109
  • Jan 23, 2012 8:32am Jan 23, 2012 8:32am
Quoting Mr J
I'd pretty much ignore backround if I was hiring traders. All I care about is how sharp they are, and then whether their personality traits allow them to be sustainable (i.e. responsible, disciplined, prepared etc). The only activity that teaches someone to trade is trading itself. Some backgrounds will be more useful than others, such as poker, but in the end it's the natural ability and personality of the person that makes a good trader, not the background.

Also ignore education - the current system isn't very useful for a trader's mindset,...
Quoting Troikaone1
I am an engineer by profession and I believe that if you have an analytical/logical background, it can be prove to be a liability to trading. The first thing that analytical/scientific types will do is look at a FX chart and assume there must be some mathematical formula driving price action. That mindset will lead to a path searching for the holy grail formula that encompasses every possible scenario that may occur on a chart. It can be a search that goes on for years. Analytical types will look at a chart and swear that there is a "Y= mX +...
Great posts!
  • #110
  • Jan 23, 2012 8:37am Jan 23, 2012 8:37am
Quoting Hedginghog
- Although I enjoy my life immensly I seemed to have developed a 'positively cynical' trait and seek pleasure in taking the piss out of commonly held assumptions, the herd mentaility, and questioning a lot of things that are taken for granted - I am sure this trait (whether it is good, bad or otherwise) has served me very well in my trading development; and it probably also explains why I enjoy reading these forums and making a contribution or two!
Very well worded. I feel as if that is the final and most overlooked aspect of most profitable speculative traders
  • #111
  • Mar 7, 2012 3:41am Mar 7, 2012 3:41am
In my opinion, A person can deal with Psychological Pressures and control
his or her emotions.

We all like to read about and study the subjects of strategy and analysis and Forex trading. For many traders, that is the familiar, understandable, and easier part of trading. By contrast, emotional control and money management belong to the more arcane category of knowledge in currency trading. On news channels, the websites of brokers and online and visual sources of news and analysis, you often find the various market movements and strategies based on them debated heatedly and with passion, but commentators who are often not traders themselves do not feel so inclined to discuss the psychological aspect of trading in their presentations.
  • #112
  • May 8, 2012 6:51am May 8, 2012 6:51am
Quoting Leonlorenzo
Im very interested to hear from what kind of background FF's current successfull resident traders come from. For the purposes of this thread I would like successfull to be defined as anyone who has been profitable(made considerably more than they have lost) for 2+ years.

You may be an x/current-business owner, top uni grad, bricky, engineer, programmer, scientist or a drug dealer. Regardless of previous occupation Im sure I and others would be interested to hear.
[list][*]Uni grad -The love/want to learn may be why you have found success...
The one who's got a passion for trading and big belly for money making can survive in trading...
  • #113
  • May 8, 2012 3:47pm May 8, 2012 3:47pm
i reckon that money management is very important for everyone
i think only person who have good money management can earn good money in this market
take care
  • #114
  • Aug 30, 2012 8:43am Aug 30, 2012 8:43am
I'd welcome member advice about where to base a company to trade Forex.

Need: (a) SIMPLE, inexpensive company setup and annual reporting
(b) Available broker (which?) with MT4
(c) Low corporate tax rates

Presently we use the UK but annual filing is a nightmare. They are just not set up to attract foreign business.
  • #115
  • Sep 2, 2012 5:47pm Sep 2, 2012 5:47pm
Someone who is dedicated , pationed , willing to learn , someone who have a lot of free time and money .
  • #116
  • Sep 2, 2012 6:22pm Sep 2, 2012 6:22pm
Quoting LeanLowFx
Someone who is dedicated , pationed , willing to learn , someone who have a lot of free time and money .
Pertinent to your recent post on the music thread i would concur that the school of hard knocks is the best background for sustaining the level of concentration required to learn and keep on learning.

Not so sure about the " lot of free time and money"...

If i'd had " free time and money" i would not have started to learn how to trade. I would not have been driven to learn through my mistakes.,i probably would have given up at the first ditch .
All systems of divination, like music itself,work through patterns.
  • #117
  • Sep 2, 2012 6:51pm Sep 2, 2012 6:51pm
Quoting kaspopsicle

Not so sure about the " lot of free time and money"...

If i'd had " free time and money" i would not have started to learn how to trade. I would not have been driven to learn through my mistakes.,i probably would have given up at the first ditch .
Some could trade worse under the pressure of "do or die" or better with a lot of free time/money. Or the other way 'round

No one size fits all it seems.
When the Joker is in the deck.. fear not and play it well
  • #118
  • Sep 3, 2012 1:21am Sep 3, 2012 1:21am
Agree that the experience matters!
  • #119
  • Sep 4, 2012 3:53pm Sep 4, 2012 3:53pm
Quoting kaspopsicle
Pertinent to your recent post on the music thread i would concur that the school of hard knocks is the best background for sustaining the level of concentration required to learn and keep on learning.

Not so sure about the " lot of free time and money"...

If i'd had " free time and money" i would not have started to learn how to trade. I would not have been driven to learn through my mistakes.,i probably would have given up at the first ditch .
I meant - "lots of free time and money" , but i see that for some people it's to hard to figure it out . About music , yes for me "hard knocks'' like you say , is very relaxing and helps me concentrate , not all people are the same ...
  • #120
  • Sep 16, 2013 1:43pm Sep 16, 2013 1:43pm
Quoting nubcake
{quote} one held trade that MIGHT fortunately pay off does not equate to a wise trader or trading mindset. a golfer making a hole in one does not make them a great golfer. consistency through frequency paints a real picture, not some idealized fantasy of one POTENTIALLY fortuitous gamble MAYBE paying off. holding power and sitting tight are good for nothing if your position tanks. there's always going to one one lucky fool who always wins a gamble and never has a sick day and never gets rained on, but for every one of those people are a million...

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Take all you can, give nothing back!
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