4 Things Traders Must Do To Be Successful

[analyst75]

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

 

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

 

To be successful trading, Dr. Steenbarger has learned:

 

1. A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

 

1. Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

 

1. A simple trading journal that will help you improve each day; and

 

 

1. That the best traders are ones that embrace losses and use them to become better.

 

Author: Dr. Brett Steenbarger

 

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading

 

www.tallinex.com wants you to make money from the markets.

 

 

 

[Sininfinity]

Well keeping a journal is a difficult thing for many traders. lol I myself am not keeping one but I feel the need to keep one. It would be good if people keep one.

[earnmaster]

One thing that i have learnt is to cut losses as soon as possible rather than hoping of any magic to happen. On the other hand profits should be allowed to run with a trailling stop loss. It is tough but possible. 

[letsgetit]

whaaaaat keeping journal every day? It's weird... We live in the century of technology, why not use digital tools?  

[Ariel Dala]

Honestly, it’s all to do with education for me. If we want to be successful then we need to give highest priority to education and education only. If we do that then we will see results in our favour. I am so grateful to my broker FreshForex, as thanks to their educational setup, it eases out the way for me. And more so, they even got demo and often comes up with freebies in no deposit bonus shape. So, with that one can easily reach the desired destination.

 

[Laidar]

Really I need to go for luck or some kind of luck

[Cairdarsy]

interesting tips, it’s nice when people share any information like that

[Monaya]

These items are certainly important for successful trading, but there are also additional ones.

[Erienner]

Well, it’s written quite worthily, in fact it can even work

[Tindenucac]

in general, of course, the list can be made even larger, because there are a lot of such items

[Pyridge]

this is just a small part of what will lead to success

[gds221]

In my opinion, only 4 things are not enough for a trader for a successful outcome of work. This is an integrated approach that requires a lot of knowledge.

[Amandatrincher]

Successful traders are characterized by the same qualities that are characteristic of businessmen who have achieved everything they wanted. Career people who managed to reach unrealistic heights when their colleagues remained on the first steps. People who found the strength to work for themselves and were able to build their activities so that they brought a decent stable income. Read Ross Levinsohn Maven's biography, career development and his abilities are multifaceted.

https://www.mediaplaynews.com/ross-levinsohn-named-ceo-of-maven/

[gds221]

To be honest, there is no single formula for success here. Each trader chooses his own path to achieve success.

[Vaabum]

It should be understood that it is quite important for a trader to pay attention to training.

[Dora Wi]

Sounds like good common sense advice. Especially the tip of embracing your losses - bad experiences should be a ground for learning from your mistakes, instead of doing something rash like revenge trading.

[Vaabum]

For me, the most important thing for a trader is training. This is what is important to pay enough attention to.