Starting up

kjb

Junior member
22 0
hi madasafish,

I hear what you say about forex not being for beginners but surely every successful forex trader started out as a beginner?

There has to be something that separates 'good' traders from 'bad' traders and that is all I want to try and discover. At the end of the day they are only human and if I don't succeed then it will not have cost me much in the process.

ps. I once lost much more than £2000 on TAD, but I won't go into that.

Kev.
 

Buk

Established member
615 6
"There has to be something that separates 'good' traders from 'bad' traders and that is all I want to try and discover. At the end of the day they are only human and if I don't succeed then it will not have cost me much in the process".


:devilish: :cool: ......light the blue touch paper & stand well back!!!!!.....here comes a hatful of posts ................or none at all!!........ :cheesy:

ummmm, errrrr........nah, I aint goin there!!


:D :D ....oh, go on then!!! cable's nudging along nicely at the mo anyway.....I don't think it's a case of whether a trader is good or bad Kev....we all make mistakes & continually strive to improve our individual strategies/tecniques. The consistant traders learn from their mistakes & adapt to their surroundings with a flexible approach. There are no bad & good traders imo, each do the best they can with the resources available to them. Success and failure are a very fine line, and as long as you continually assess & re - assess your progress, then the market will ultimately be the judge of how far on or off track you are!!.......blimey, it's been a long day, and I think me cells are nearly on emergency run mode!!!................ :eek:

I knew I shouldn't have started this.............................
 
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TWI

Senior member
2,536 254
"There has to be something that separates 'good' traders from 'bad' traders and that is all I want to try and discover."

IMHO Patience,Discipline and the ability to pull the trigger. That is it.
 

TheBramble

Legendary member
8,394 1,170
'Good' and 'Bad' meaning what precisely?

Still in the game after x years?

Profitable over the last 12 months?

Sticks like glue to his/her system - but isn't making a profit?

Made some mega trades in the last week?

Going on 'gut instinct'?

I suspect there are many other, quite different attributes others would have in describing what they would call a good trader/bad trader.

For me it's the ability to manage risk and stay in the game taking a consistent profit and accepting small losses.

I agree with you that patience is an important trait of 'my' good trader - not just waiting for the trade to be right before entering, but probably more importantly - not going in when it's 'just a bit' wrong.

However, even more vital is confidence and a passion (not just a willingness) to continue learning the skill.
 

TWI

Senior member
2,536 254
Yeah, definitely forgot the confidence factor, maybe that one needs to come at the front.
I also think it is a good reason why you should take a short break after a big loss or a big profit.
 
 
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