Skip to main content

Unsuccessful Vs Successful Trader


What separates a long-term successful trader/investor from an unsuccessful one? Here are 5 main differences between Successful and Unsuccessful Traders.


Defined Strategies
Unsuccessful Trader
  • They have no defined trading strategy.
  • They made a trading decision based on Gut-Feelings.
  • Keep repeating the mistakes due to lack of discipline.
Successful Trader
  • They have an trading plan.
  • They have well formulated trading strategy for every market condition.
  • Each time analyse the Signal calls they have implemented.
Focusing on the Money
Unsuccessful Trader

  • The unsuccessful trader focuses on the money, hoping he will make a certain amount on this or that trade so that he can make X amount of money, or buy his dream car.

Successful Trader

  • The successful trader knows that the market couldn’t care less about how much money he needs to make. He knows that focusing on the money may cause him to neglect his entry/exit rules so he focuses on the process instead, making sure he does not violate any of his rules. He knows that since his strategy has a positive expectancy over a certain number of trades, by focusing on the trading perfectly, the money will follow.
Certainty VS Probability

Unsuccessful Trader
  • The unsuccessful trader thinks that if he finds the perfect setup (chart pattern/indicator/news), he’s sure to make money on a particular trade and he discards any setup that didn’t work in the past
Successful Trader
  • The successful traders doesn’t give much importance to the outcome of one particular trade. He knows that if over the long term, probabilities are in his favour, he will make money over time, regardless of how many losing trades in a row he gets.
 The need to trade
Unsuccessful Trader

  • The unsuccessful trader has to trade almost everyday because he’s a trader, after all, and he loves the action.

Successful Trader

  • The successful trader will only take the highest probability trades, where all the variables align, even if he has to wait for months and do nothing in the meantime. He’s in the game for one reason only. To make money.
Betting big
Unsuccessful Trader


  • The unsuccessful trader wants to bet big right from the start in order to make as much money as possible


Successful Trader


  • The successful trader knows how to spot the few very high probability opportunities and how take full advantage of those. He developed this ability over many years of experience in the market, going through several bull/bear cycles.
For the Best Forex Signal| Accurate Stock Signal| Profitable Comex Signals, Try Equidious Research Services. We have a team of best and well experienced Research Analysts.
Labels:

Comments

Post a Comment

Popular posts from this blog

Know More About- Commodity Currencies Trading

Currencies of countries that rely heavily on the export of  commodities  are often referred to as  commodity currencies . An important factor that any  forex trader  should consider is that the value of commodity currencies usually rise and fall in tandem with the value of the country's main commodity exports. What Are Commodity Currencies and Pair: Both the value of the  commodity  and the country's trade balance, with respect to the commodity, are significant factors in the valuation of commodity currencies. The most commonly traded commodity currencies are: Canada (CAD) New Zealand (NZD) Australia (AUD) The three  commodity pairs  are: USD/CAD AUD/USD NZD/USD These  pairs  are highly correlated to  commodity  fluctuations in the world markets and are the most heavily traded  commodity pairs  in  forex .  Forex  traders often trade these  commodity pairs  to gain expos...
Post a Comment
Read more

Do you have "FOMO Traders" Characters?

FOMO is Fear of Missing Out type of traders, which influences our daily trading habits and decision making capability in Forex Trading. There are following causes which leads FOMO Traders: High Expectations FOMO Traders thanks that one needs to double the account by next month and you are missing out if you do not make a lot of money as soon as possible. This leads to higher risk and large position sizes. One wrong trade and you will regret of choosing wrong position sizing and trade. Over Confidence When you come from a winning streak and feel invincible and then take random trades or too large positions because you think we can “feel” what the market is going to do. Lack of Confidence After a few losing trades, many traders will try to play catch up and then enter random trades just to get into the market and hopefully somehow generate a profit. No Rules When you do not have a system or rules, to begin with, then FOMO is your default mode, always jumping in a...
Post a Comment
Read more

Learn More About Trading Breakouts

Breakouts are a common phenomenon in the Forex market  and occur across different chart intervals. It is therefore no surprise that break out  trading strategies  have become one of the most popular ways of  trading Forex , besides other strategies such as trend following methods. What is Breakout in Forex? A  breakout  is a price movement of a security through an identified level of resistance, which is usually followed by heavy volume and an increased amount of volatility. Traders buy the underlying asset when the price breaks above a level of resistance or when it breaks below a level of support. A breakout is the point at which the  market price  breaks away, or moves out of a  trading range . The trading range can be for any length of time but once prices exceeds the high or low of the range, a breakout has occurred. The accepted market wisdom is “buy low sell high”. What is False Breakout in Forex? A  false breakout  ...
Post a Comment
Read more