Traits and Report Card of a World-Class-Forex-Trader (WCFT) | Forex Factory

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Traits and Report Card of a World-Class-Forex-Trader (WCFT)

  • #1
  • First Post: Edited May 14, 2016 11:13pm May 13, 2016 10:07pm | Edited May 14, 2016 11:13pm
Hello Everyone,

I am making a list of good Forex traders worldwide. On many places it's easy to copy trades of good traders. Phrases like "Copy-Trading" "Copy-Fx" and likes are popular these days.. I like to trade and copy trades of good traders. In the process I wish to learn and evolve as a trader.

Given the nature of my trading-style, it becomes necessary for me to filter bad traders.

Below is what I think should be traits of a good trader.

  1. Highly disciplined
  2. Follows money management strictly
  3. Takes huge care of maximum draw-down, quits if the limit is hit
  4. Does not get carried away by anything


Below is how I believe a report-card of a trader should look like.

  1. Consistent monthly returns like 5% or more, if it's more apparently that would be awesome
  2. Sharpe Ratio as low as possible i.e. decent returns with minimal risk
  3. Depending on the size of account, drawdown not more than 10 - 30% of the account
  4. Proven history i.e. trackable trading records for 3-6 months at least..

Please share your ideas so we can improvise this checklist.

Meditate -> Workout -> Good Food = Good Life!
  • #2
  • May 14, 2016 11:22am May 14, 2016 11:22am
Quoting YellowFellow
Below is what I think should be traits of a good trader.
1. Highly disciplined
2. Follows money management strictly
3. Takes huge care of maximum draw-down, quits if the limit is hit
4. Does not get carried away by anything
5. Has a solid edge (entries/exits) that's grounded in the hows and whys of market behavior
6. Uses a sensible and sustainable MM method

If you really want to go down the path you've described, I assume you're aware that there are sites like zulutrade and collective2 that allow you to compare the performance of hundreds of traders, and copy their trades. FWIW.
  • #3
  • May 14, 2016 9:18pm May 14, 2016 9:18pm
1. makes money
2. knows his sh*t and sees the market how it REALLY is that the other 99.99% don't pay attention to
3. trades by his own rules
4. repeating
  • #4
  • May 14, 2016 10:51pm May 14, 2016 10:51pm
Quoting hanover
{quote} 5. Has a solid edge (entries/exits) that's grounded in the hows and whys of market behavior 6. Uses a sensible and sustainable MM method If you really want to go down the path you've described, I assume you're aware that there are sites like zulutrade and collective2 that allow you to compare the performance of hundreds of traders, and copy their trades. FWIW.
If you look at successful traders on etoro, mql, myfxbook; not everyone would share how and why he shared a trade. No smart and successful trader would normally come out to share his secrets. But, of course we would love to see if there is any such thing available.
Meditate -> Workout -> Good Food = Good Life!
  • #5
  • May 14, 2016 10:52pm May 14, 2016 10:52pm
Quoting hanover
{quote} 5. Has a solid edge (entries/exits) that's grounded in the hows and whys of market behavior 6. Uses a sensible and sustainable MM method If you really want to go down the path you've described, I assume you're aware that there are sites like zulutrade and collective2 that allow you to compare the performance of hundreds of traders, and copy their trades. FWIW.
I'm not a very seasoned copy trader, I was not aware of these two, thanks a ton for inputs.
Meditate -> Workout -> Good Food = Good Life!
  • #6
  • Last Post: May 14, 2016 11:14pm May 14, 2016 11:14pm
**Edited First Post:

Proven history i.e. trackable trading records for 3-6 months at least..
Meditate -> Workout -> Good Food = Good Life!
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