Define a successful trader in 1 sentence

Ok...... first shot "as simple as possible but no simpler"

1. Discipline
2. Relentness
3. Risk

A successful trader should be disciplined and relentless while unafraid to take risk.

#2 and #3 I generally don't have a problem with.

I'm working on everything else.

Best of trading to all.

Billionaire

We have a winner here.

Right on man

Brilliant and thoughtful

right ?????

Can you define, please?

+1000

What a stupid topic.
.

Making money on a consistent basis.

Successful trader means a trader who can make profit according to his/her trading plan.

shane,

How about: A successful trader is someone that both has an exact trading plan, sticks to it, "and" it works month in and month out, and eventually year in and year out!

A successful trader is one who generates a positive P/L....an that's the bottom line. The very foundation of this business is making money and if you are in this business for ANY other ultimate goal then you cannot quantify success in the correct context. There is a correct response to the original question and this is it. The question is not subjective in nature.

So if I spend a year making 5% in Forex, when my bank is paying 6%, am I successful?

I liked your first answer better.

I fucking love this thread

Cindy,

Long run, no one in the world will end up making 5% in Forex. Think about why. Besides, you are splitting hairs here. No one gets into Forex to make 5%. That is the same as breaking even. But, ok Cindy I will play with you and hopefully we wont get this thread off track. If you take a peerson making 5% after a year in Forex, he will figure out be it with leverage or whatever how to make 5% a month! If he cant, he will then go in reverse and lose his account so no, he will not be making 5% for long.

Patience!

I think which trader can control himself for all situation and finally make success is a successful trader.

You guys are all focusing on results and discipline which is fine but to me, the trader I want to be is one who if he went broke, would still love the" art of trading,". In other words, hes like a baseball player playing for the pros, he gets his high regardless of whether he wins the game or loses. and all those "pros" who write in articles and books that having a losing week dont bother them..................i say they are full of it. But I am not like that. I need to have a winning day or the day wasnt enjoyable. Hopefully soon I will fgraduate to having a winning week is ok. then as long as i win for the month. WHY SHOULD WE TRADERS ALLOW SOMETHING WE CANT CONTROL(the markets) control something we can? (our mind)

Put another way......Would you rather make 5 million a year working for Warren Buffett, knowing he would fire you if you had a losing 6 months and having to position trade just like he does, or........make a cool 1/2 million a yr day or swing trading for yourself and all your friends think you are a GENIUS rather than a flunkie of warren buffett? I will take the 1/2 million a year for life!

A successful trader has to keep losses small, and should not let a profitable trade turn into a loss.

Profitable

To the point that they out do their money earning potential elsewhere in either:

1. the percentage that they earn.... OR
2. the amount that they earn per hour spent trading compared the amount per hour that they would earn elsewhere.

That is, 1% per year is unlikely to out do the deposit you put in a bank.

OR

$100 trade profit, that I sat watched for 4 hours, does not out do $40 per hour that I earn elsewhere....

lnl

A successful trader is one who traders as his/her passion and not the only monetary goal.