What makes trading successful?

Vladimir Rojas

Junior member
30 15
Do you know the proverb “a good craftsman doesn’t blame his tools”?

We are no craftsmen, but as traders, we have our own tools too. Trading platforms, economic calendars, education courses – we use this all to climb up the ladder of trading success. However, we are too often rely on the opinion of others while choosing the best tools.

Different people have various approaches to trading tools. Building the finest strategy requires trying out. Finding out what works for you. What resonates with you. And fits perfectly, matching your trading actions.

That’s why it is better to take any reviews you read online with a grain of salt. No one can give you a 100% guarantee that something will work for you perfectly.

Make trading personal – strive to get the best, and it will change your trading to the best.
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Henow1969

Well-known member
316 43
Getting additional knowledge through websites and senior people is my basic formula for success. The principal of success in Forex trading is to find the right broker who will hit you very well and get and give your information carefully. My next step will be to discuss my strategy with my senior traders after which I will place trades in the market. If you want to be a successful Forex trader, you must make sure you understand the market and make good trading strategies and plans.
 
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pezza55

Member
64 20
Good words there. Unfortunately can't open the attachment. Too many people walk into trading thinking they can find the answers from everyone else. The truth is that you need to study hard and be responsible for your own success or failure.
 

sharabela

Member
70 11
This is what actually it is. We do not have to blame our tools. If anyone is to blame it is us. However, there is no point of blaming only. We have to work on our mistakes and try to overcome those. We must make sure that we get better every day by studying and keeping a journal. Every now and then, we have to look back at our taken trades and compare them to be able to find mistakes if there is any.
 

no_frame

Junior member
47 9
Your trading career is your own game that you have to play alone. If you keep asking others for help, you will end up gathering a lot of information that you might not know where to put and make use of. So, it’s better to first trade yourself and get to know your trading requirements so that you know what to ask and take help with.
Agree with you on this. Rightly said!
 

Stonksalltheway

Newbie
6 1
Loved your quote OP - “a good craftsman doesn’t blame his tools”

Knowing when to contented with your profits is one thing that I learned the hard way when it comes to trading. I've been greedy for so many times and it resulted me not even getting anything at all.

One thing I also learned is to take a look at stocks that are embracing innovation and technology such as cryptocurrencies (which is rare in the stock world) $BTCS is one of the stocks I'm looking at, they just listed on Nasdaq early this month.
 

sebking1986

Well-known member
273 85
This is precisely why signal services are flawed. They assume that one can trade in the same way as the signal provider and often that is rarely the case. Then this also assume the signal provider is worth even following!
 

Jungletrader

Member
83 14
A good craftsman dosen't blame his tools 🔧
What a great saying 👏
You can however always seek the opinion/advice of others .
Best places are forums like these
 

iq200

Well-known member
367 21
There are many things that you can argue about but the two main things IMO are:
1) An edge
2) Risk management
 

lotsea

Junior member
16 1
For a newcomer, success depends on his knowledge, learning, and practice on the demo account. It is essential to gain enough confidence and the proper mental set up by using a demo account before entering the live market. For an experienced trader, success depends on his strategy and plan. The trader should be able to analyze price charts and indicators to determine the correct entry and exit point. Besides, he needs to control greed and use risk management tools to avoid losses.
 

HeavLeighGill

Active member
145 33
Nothing is guaranteed in trading. What works for one may not work for another. Reviews and recommendations from other traders are good and can be helpful, but you can't put 100% faith into it and have to do things on your own as well.
 

Egads

Junior member
27 4
Experience ....you cant buy it or shortcut it ...trust me
Yes, experience is the most important to mark success in trading. But the trader needs to be serious about learning and understanding trading to gain the skills required for trading.
There are traders who say that they have been trading for five years but are still in loss.
 
 
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