5% winners - HOW?

[Triggerfish]

Either it is 5% or whatever, it doesn't matter. What matters is being on this side of the fence and not the other side.

What words of wisdom would you like to share?.....What do "YOU" think it really takes to be "ON" this side?

 

[tar]

There is no answer to that , but here is some pointers : do something different , if everyone is losing then what they do isn't right , lower your expectations ie : instead of 20% returns monthly target make it just 2% and see how it goes , and don't target specific number of points or pips to gain every day ....

 

[Vasco da Banana]

What words of wisdom would you like to share.....

Never believe anything you read in trading forums.

 

[tar]

Never believe anything you read in trading forums.

+1

agree take what you read on forums with a grain of salt ...

 

[tar]

There is no answer to that , but here is some pointers : do something different , if everyone is losing then what they do isn't right , lower your expectations ie : instead of 20% returns monthly target make it just 2% and see how it goes , and don't target specific number of points or pips to gain every day ....

Check the table at the end of the doc ...

http://www-bcf.usc.edu/~lharris/ACROBAT/Zerosum.pdf

 

[BeginnerJoe]

You are not going to be on that side. People on that side are special because they know how to get on that side by themselves. They can see and know things that you cannot comprehend. They are meant to be on that side, and you are meant to be on this side. They are born that way and they know it.

 

[NVP]

The best traders in the world share a lot of good FREE advice and even their systems 24 hours a day 365 days a year if you look hard enough .........the problem is that it may as well be written in ancient Greek for all the good it will do the 95% losers who will never understand or follow what these traders are saying ..........

N

 

[Trader333]

Never believe anything you read in trading forums.

This is a contradiction in terms. You have posted on a trading forum saying not to believe anything posted which presumably includes this statement.

 

[kalott]

Either You Have It Or You Don't ?

The world's best footballers: the top 100 list | Football | guardian.co.uk

 

[ffsear]

Read

Hedge Fund Market Wizards: Amazon.co.uk: Ed Seykota, Jack D. Schwager: Books

 

[15 min tlb]

The best traders in the world share a lot of good FREE advice and even their systems 24 hours a day 365 days a year if you look hard enough .........the problem is that it may as well be written in ancient Greek for all the good it will do the 95% losers who will never understand or follow what these traders are saying ..........

N

I will accept it as a compliment , Beginner Joe was handed it on a plate , but he questioned It and never believed in it.

 

[wino59]

To answer your question. Here are some of the qualities I think are important. I am going to assume you have some sort of trading plan based on fundamentals, so these qualities are in addition to the obvious.

Strong desire to want to do this and succeed.
Patience
Discipline
Ability to control emotions
Self evaluation - understanding when your wrong and why and not compounding losses.
Experience - there is really no substitute for it.

The psychology of trading is probably the downfall for most people, and I would bet a lack of money management is a close second.

 

[bigmistake]

I think the 5% trader win because they have good minds than others. they can adjust themselves to win Forex and don't let feeling or others affect their trades.

And other reason might be their finance knowledge is better (University, Dr.).

 

[NVP]

To answer your question. Here are some of the qualities I think are important. I am going to assume you have some sort of trading plan based on fundamentals, so these qualities are in addition to the obvious.

Strong desire to want to do this and succeed.
Patience
Discipline
Ability to control emotions
Self evaluation - understanding when your wrong and why and not compounding losses.
Experience - there is really no substitute for it.

The psychology of trading is probably the downfall for most people, and I would bet a lack of money management is a close second.

and thats why only 5% or less survive and thrive....

 

[NVP]

Either You Have It Or You Don't ?

The world's best footballers: the top 100 list | Football | guardian.co.uk

but what about best 100 of all time ?

 

[soumadamou]

the advice given by forum members trading are not always reliable.

 

[Vasco da Banana]

This is a contradiction in terms. You have posted on a trading forum saying not to believe anything posted which presumably includes this statement.

Durr.