What are the top things successful traders do?

[jimcarter]

For a successful forex trader, you can consider the following things:​

1. Patience​

Patience is one of the important things for becoming a successful trader. You must be patient enough to wait for the price to reach the levels that your system predicts for either the point of entry or departure. If your system shows access at a certain stage, however, the marketplace by no means reaches it, then pass directly to the other opportunity. Another transaction will always be available.

2. Discipline​

Forex trading demands a certain level of discipline. You must follow a series of trade rules and maintain constant sight of the reward. Discipline also entails being able to respond when your system tells you to. This is especially true when it comes to stop-loss situations.

3. Objective​

Objective trading is also referred to as rule-based trading, which follows a set of rules to guide trading decisions. Traders should follow a set of rules for order type, time period, entry or exits, and also for markets.

 

[Lewis Capaldi]

As I see, most of the successful traders always try to learn from their own trading mistakes! They all are not expecting 100% success here! And this is why, they don’t lose their momentum when they do their live trading!

 

[Resolve]

As I see, most of the successful traders always try to learn from their own trading mistakes! They all are not expecting 100% success here! And this is why, they don’t lose their momentum when they do their live trading!

If we want to become a successful trader in this business we will need to start making more Efforts.

 

[HeavenLeighGill]

Good list! Straight to the point but informative.

 

[Glossy]

For a person who wants to be successful in trading, it is necessary to make Forex your job.
To fall asleep and wake up with thoughts of trading.

 

[CapitalStreetFX]

want to be a successful trader you have to notice these points:-
1. learning
2. practice
3. read technical analysis and daily updates on what is going on in the market.
4. Use demo account for your daily strategies for better trading.
5. last patience.

 

[HeavenLeighGill]

want to be a successful trader you have to notice these points:-
1. learning
2. practice
3. read technical analysis and daily updates on what is going on in the market.
4. Use demo account for your daily strategies for better trading.
5. last patience.

You speak the truth.

 

[Marco877]

I think, it’s a long list; but one thing is most common; maximum successful traders follow their process; instead of their trading result! This is why, they are able to recover their losses since, and they don’t take decision based on their emotion!

 

[leov1018trader]

Agree w many of the shared thoughts. However i'll add this, BE very clear on your goals and avoid greed or more mindset. Don't fall prey to the "it will comeback" mentality. If your trade is losing follow your risk management process and get out. A $20 or so dollar loss is better than hoping "it will comeback" and then losing five times that. At the same time if your trade is winning and you hit your goal take your earnings and go. Don't try to repeat or your win can turn into a loss.

 

[Fxbid99]

To be a successful trader one has to learn from their mistakes, do practice on demo accounts, keep a track of daily updates and market news, read technical analysis, try new indicators and practice with those.

 

[Haruto]

I see, most of the successful traders are so focused on their process; they don’t focus on the money! On the other hand, they follow the money management rules so carefully!