Can anyone become a trader? | Forex Factory

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Can anyone become a trader?

  • #1
  • First Post: Edited 12:48am Oct 26, 2016 12:26am | Edited 12:48am
I apologise if this question has been asked before.

Can anyone become a trader ?

OR

Does it take someone with certain quality to become one ?

Regardless of your answer please explain why.

I came into trading roughly 2 years ago. I wasn't sure if trading was my passion or a calling (BS that junk btw). I didn't even know what I wanted to with my life. But I was fascinated by the charts and price behaviour and wanted to know everything about it to understand the reasoning behind the move with the hope of predicting the future direction.

Few years fast forward I still don't know what I want to do with my life. But recently I gave up on that passion and a calling BS and came to the realization that I should do what I'm good at doing. That way my probabilities of success will be higher than doing something that I'm not naturally talented in. And also I'll be a lot happier.

I can't say that I'm not good at trading or the other. I haven't figured that out yet. Not even sure if that's the right question to ask. But I've made so much progress since I started. Past the try and throw this and that method phase. I've settled on a method. But I'm not consistent. I haven't developed confidence in my method. I lack practice. I know I need more time. I wanted give it up altogether few months ago, but I couldn't. I usually lose interest quickly. But with trading I kept on going and I still do. I'm not a gambler or anything. And I figured long ago I'm not going to be making thousands or millions of $ anytime. I don't know what is it that keeps me going. But do I have what it takes to be a trader just popped up in my mind. I wonder if any of you also wondered the same thing despite their progress.
...
  • #2
  • Oct 26, 2016 12:52am Oct 26, 2016 12:52am
Anyone can become a trader.
It takes someone with certain qualities to become a profitable trader.
  • #3
  • Oct 26, 2016 12:52am Oct 26, 2016 12:52am
Hi,

To me trading is one of the hardest professions requiring the strictest mental & emotional control.

And yet, i still continue to immerse myself in the markets every single day.

It is something that has transcended mere interest and evolved beyond just the raging passion.

And like you, it has been fulfilling and satisfying to see improvements in my trading performance.

I know that as i continue improving and learning without a shred of doubt i will soon be in the top 5%.

You have to want it badly to the point of resonating with every single fiber of being and work relentlessly towards it.
  • #4
  • Oct 26, 2016 1:11am Oct 26, 2016 1:11am
Cynicism helps, above avg intelligence.

A disciplined mind is very important.

Regardless of how much money you make or not. You definitly become a better human after how market humbles you and makes you look deep inside .
  • #5
  • Oct 26, 2016 4:25am Oct 26, 2016 4:25am
There's no "right path", because of the unpredictable nature of experience. So what appears to be a complete mess is actually the right path, you're doing great.
  • #6
  • Oct 26, 2016 4:41am Oct 26, 2016 4:41am
In answer to your main question, yes, anyone can become a trader, but:

Quoting Piquant
I've settled on a method. But I'm not consistent. I haven't developed confidence in my method.
If you haven't developed confidence in your method then your method isn't correct yet. It's as simple as that.

There are 3Ms in trading:

1. Method

2. Method

3. Method


Quoting Piquant
I'm not a gambler or anything.
Good, because trading isn't gambling. It's a game of probabilities where you the trader employs an "edge".

It takes years. Give yourself five at least. Method is your foundation. Build a solid foundation; everything stands on that.
  • #7
  • Oct 26, 2016 4:55am Oct 26, 2016 4:55am
Am also new in this arena but l have come to understand that fx trading requires a lot of patience and experience...
  • #8
  • Oct 26, 2016 6:00am Oct 26, 2016 6:00am
Yes, anyone can be trained to become a trader, but different people need different time and effort to learn to trade well. Some give up before they've reached that point.
  • #9
  • Oct 26, 2016 6:15am Oct 26, 2016 6:15am
Quoting Piquant
I apologise if this question has been asked before. Can anyone become a trader ? OR Does it take someone with certain quality to become one ? Regardless of your answer please explain why. I came into trading roughly 2 years ago. I wasn't sure if trading was my passion or a calling (BS that junk btw). I didn't even know what I wanted to with my life. But I was fascinated by the charts and price behaviour and wanted to know everything about it to understand the reasoning behind the move with the hope of predicting the future direction. Few years fast...
The only traders that are failures are the traders that give up

1, Do what you love to do.
2. Do what you have to do
3. Do What is possible
4. Then what was impossible will become possible
20 Pips a day keeps centerlink away
  • #10
  • Oct 26, 2016 8:18am Oct 26, 2016 8:18am
Quoting Piquant
I apologise if this question has been asked before. Can anyone become a trader ? OR Does it take someone with certain quality to become one ? Regardless of your answer please explain why. I came into trading roughly 2 years ago. I wasn't sure if trading was my passion or a calling (BS that junk btw). I didn't even know what I wanted to with my life. But I was fascinated by the charts and price behaviour and wanted to know everything about it to understand the reasoning behind the move with the hope of predicting the future direction. Few years fast...
Sure. But it consumes huge time and costs money.
Never Gamble Forex
  • #11
  • Oct 26, 2016 9:56am Oct 26, 2016 9:56am
An interesting question.

I believe it takes a special set of character traits for someone to be successful in this profession. I recently stumbled upon this:
Inserted Video
, interesting watch on the topic of who can actually become a trader.

So it's not just the will and decision to do it, but also the personality traits that matter in this business in order to be able to do it.
Greed and impatience are our greatest enemies.
  • #12
  • Oct 26, 2016 12:44pm Oct 26, 2016 12:44pm
Like what @simond2002 says, it all boils down to method, the rest is BS. No method no talk.

Here's the catch, do you have the necessary qualities to develop the method? Expect to take 5yrs above of hard work even if you have the brains to compete with the very best - that's the real barrier for every aspiring trader.
  • #13
  • Edited 4:36am Oct 27, 2016 3:52am | Edited 4:36am
Quoting mlawson71
Yes, anyone can be trained to become a trader, but different people need different time and effort to learn to trade well. Some give up before they've reached that point.
This is very true, I also think that those who fail are those who can't handle the "frustration" and give up. Nothing wrong with that just the way it is.

There are also other factors in play but none beats the TIME and EFFORT you put in. You don't need much money to open a micro account and practice there.
  • #14
  • Oct 27, 2016 4:45am Oct 27, 2016 4:45am
by only getting education and experience u can become a trader.
  • #15
  • Oct 27, 2016 5:49am Oct 27, 2016 5:49am
Quoting HeyYou
{quote} This is very true, I also think that those who fail are those who can't handle the "frustration" and give up. Nothing wrong with that just the way it is. There are also other factors in play but none beats the TIME and EFFORT you put in. You don't need much money to open a micro account and practice there.
That's one reason, that's for certain. Another reason is that sometimes people just run out of money - they invest what they can, blow their account (it often happens to newbies) and then they're unwilling to invest more. Which is totally understandable.
  • #16
  • Oct 27, 2016 5:58am Oct 27, 2016 5:58am
Quoting mlawson71
{quote} That's one reason, that's for certain. Another reason is that sometimes people just run out of money - they invest what they can, blow their account (it often happens to newbies) and then they're unwilling to invest more. Which is totally understandable.
Yeah, I wrote my story here, still I don't see any reason to give up since I believe it's possible to start with $100 and I have a job.. time will tell if I was right!
  • #17
  • Oct 27, 2016 6:04am Oct 27, 2016 6:04am
Anyone can become a trader but it won't happen overnight. You have to dedicate a shit load of of time and effort into learning, losing, and figuring out what works best for you.

If you have a passion for trading and the markets, the long journey into becoming a profitable trader will be fun so stick to it.
  • #18
  • Oct 27, 2016 9:26am Oct 27, 2016 9:26am
Anyone can , but most can't because trading successfully requires a unique set of skills nothing in life can prepare us for. First off, as with acquiring any skill, it requires a great deal of time, effort and dedication, which is stating the obvious. Beyond that, it requires the discipline and mental tenacity to execute system defined trading opportunities over and over again without hesitation or fear, despite the fact that if we are wrong, the market mercilessly punishes us, and this is something most people cannot handle and they succumb to any number of trading mistakes based on irrationality and fear.

Unless one can learn to think in terms of probabilities whereby the outcome of any one single trade is irrelevant, one is programmed to fail, human nature guarantees it.

Those that learn to override basic human nature to think like traders will succeed. Those that don't, the majority, will fail.
  • #19
  • Oct 28, 2016 7:42pm Oct 28, 2016 7:42pm
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  • #20
  • Oct 29, 2016 2:36am Oct 29, 2016 2:36am
military soldiers can be very good traders.the amount of discipline they have is unrivaled
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