How to be a successful trader in long run?

A lot of long hours of hard work. You need to develop your own approach, and that takes work, thought and experience. There are no shortcuts.
 
Find your own way, match your strategy to your personality, start small.
 
You should always follow your rules. If you can't, you will inevitably lose back all the money you made to the market (and more).
 
Define "long run" ?

People generally have spells of goodness and very badness.....
Successful strategies do come and go. From my experience, they last about 3 years a piece, then you need to find something different.

Personally, to stay ahead in this game I'll be trading strategy 67 but working on strategy 68, 69 and 70.

It's a non-stop grind.

Best of luck.
 
Spend lots of time studying the charts. Study price action because in reality it is the only indicator that is 100% accurate.

Learn to draw accurate trend lines.

Spend time identifying likely positions of support and resistance and practice plotting them on your chart.

If you can learn to quickly distinguish between a trending market pair and a consolidating market pair then you will be a good way towards success.
 
I believe proper steps are:

1) Choose one market and study it. Thousands of hours of screen time is highly recommended volume of practice.

2) Based on what you know about the market of choice, develop a trading strategy, which has relatively small risk and consistent equity curve.

3) Backtest and forward test your strategy to see if it works for real.

4) Execute with iron discipline.
 
I'm afraid it is not possible. The market beats all of us retail crap in the end. Jesse Livermore said 'No man living can beat the stock market'. I'd add dead men to that list too.

The only way to have some sucess as a trader is is to become lucky. Which of course, very few of us ever are in the long run.

But if you are lucky and also wise you'd perhaps realize that to endure you had to become a coorporation. Unfortunately that's not enough for long term success either.

But if you, now as a corporation, were lucky, wise and also ruthless, perhaps you'd then realize you had to crush most of your rivals and thus become one of the big fish eating up the small fish. Unfortunately, that would still only get you so far.

But if you, now as a big fish corporation were lucky, wise, ruthless and also crooked, perhaps then, in the long run, you'd be ecstatic to realize that you'd actually become quite a success at trading. And perhaps you'd also, to your utter horror, realize that this success was only because YOU had become the market.

Jesting aside, set low expectations then cut them in half.
 
Last edited:
cymail said:
I'm afraid it is not possible. The market beats all of us retail crap in the end. Jesse Livermore said 'No man living can beat the stock market'. I'd add dead men to that list too.

The only way to have some sucess as a trader is is to become lucky. Which of course, very few of us ever are in the long run.

But if you are lucky and also wise you'd perhaps realize that to endure you had to become a coorporation. Unfortunately that's not enough for long term success either.

But if you, now as a corporation, were lucky, wise and also ruthless, perhaps you'd then realize you had to crush most of your rivals and thus become one of the big fish eating up the small fish. Unfortunately, that would still only get you so far.

But if you, now as a big fish corporation were lucky, wise, ruthless and also crooked, perhaps then, in the long run, you'd be ecstatic to realize that you'd actually become quite a success at trading. And perhaps you'd also, to your utter horror, realize that this success was only because you had become THE market.

Jesting aside, set low expectations then cut them in half.
Click to expand...

Are you sure that to succeed as a trader, as well as being ruthless and a criminal I have to be a big fish:?::?:

:clap::clap:
 

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cymail said:
I'm afraid it is not possible. The market beats all of us retail crap in the end. Jesse Livermore said 'No man living can beat the stock market'. I'd add dead men to that list too.

The only way to have some sucess as a trader is is to become lucky. Which of course, very few of us ever are in the long run.

But if you are lucky and also wise you'd perhaps realize that to endure you had to become a coorporation. Unfortunately that's not enough for long term success either.

But if you, now as a corporation, were lucky, wise and also ruthless, perhaps you'd then realize you had to crush most of your rivals and thus become one of the big fish eating up the small fish. Unfortunately, that would still only get you so far.

But if you, now as a big fish corporation were lucky, wise, ruthless and also crooked, perhaps then, in the long run, you'd be ecstatic to realize that you'd actually become quite a success at trading. And perhaps you'd also, to your utter horror, realize that this success was only because YOU had become the market.

Jesting aside, set low expectations then cut them in half.
Click to expand...

I heard this many times and regarding many areas of human activity, far beyond just trading.

One thing for sure: if you don't believe in your ability to succeed you have programmed yourself for a failure and will get exactly that as a result.
 
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