The 7 Habits Of A Highly Successful Trader

BeginnerJoe

Senior member
3,329 350
I couldn't get past point 1.

Trading is an act between 2 parties. Since you cannot control what the other party is doing, taking responsibility for all outcomes of the trade is pure newb, and pure demo pips peddling (you see, when peddling demo pips, only one party is involved). A real trader should only take responsibility for the things he has done wrong, and take no responsibility for the actions of the other party. If you can't work out who is responsible for what, you are destined to fail.

Here's why that 99% of people fail, they blame their own psychology for the actions of the other party. The correct solution isn't to blame yourself for things that you have no control, but to put yourself in a position where the other party can do minimal damage. Get that right, and you will be one of the greatest traders of all time - the market will be your ATM.

My official learn-to-trade-from-youtube rating for this video is a D minus.
 
Last edited:

15 min tlb

Senior member
2,057 98
My official learn-to-trade-from-youtube rating for this video is a D minus.

This was orignally a pdf doc and some readers recommended it.It is no different from the pdf , when sentiment and goals were different.

Does it not say a load of truth?
 

15 min tlb

Senior member
2,057 98
I couldn't get past point 1.

Trading is an act between 2 parties. Since you cannot control what the other party is doing, taking responsibility for all outcomes of the trade is pure newb, and pure demo pips peddling (you see, when peddling demo pips, only one party is involved). A real trader should only take responsibility for the things he has done wrong, and take no responsibility for the actions of the other party. If you can't work out who is responsible for what, you are destined to fail.

Here's why that 99% of people fail, they blame their own psychology for the actions of the other party. The correct solution isn't to blame yourself for things that you have no control, but to put yourself in a position where the other party can do minimal damage. Get that right, and you will be one of the greatest traders of all time - the market will be your ATM.

My official learn-to-trade-from-youtube rating for this video is a D minus.

It agrees with you , and accepts nothing can be done about other factors , but the mistakes are made by traders and flaws of traders.

http://www.trade2win.com/boards/trad...ml#post1246148

Why TA ‘fails’,It's traders that are profitable – not their methodologies , it is the traders who are losers not their methods.
 
 
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