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

Learn Forex Carry Trade Strategies

What is a Carry Trade? A  carry trade  is when you buy a high interest currency against a low interest currency. For each day that you hold that trade your broker will pay you the interest difference between the two currencies as long as you are trading in the interest positive direction. Carry Trade Offers Two Ways To Profit The forex carry trade is a type of strategy in which traders sell currencies of countries with relatively low interest rates, and use the proceeds to buy currencies of countries that yield higher interest rates. Forex carry trading leverages the differences in interest rates between countries. For example, one country’s central bank may lower interest rates in order to create economic stimulation, while the central bank in another country maintains higher interest rates. In effect, the forex trader borrows money in one country with a lower interest rate, and invests it in another country with a higher interest rate, and keeps the differ...
Post a Comment
Read more

What Are Currency Pair Correlations?

What is Currency Correlation? Currency correlation depicts an extent to which two currency pairs have moved in same, opposite, or totally random directions over a period of time. Thought Process: Why a certain currency pair rises, another currency pair falls? Why same currency pair falls, another currency pair seems to copy it and falls also? This is because of correlations between currencies. Correlation is the numerical measure of the relationship between two variables. The range of the correlation coefficient is between -1 and +1 . Positive Correlations: A correlation of +1 denotes that two currency pairs will flow in the same direction. For Example: Correlation between EUR/USD and GBP/USD is an epitome as if EUR/USD rises then GBP/USD is moving the same direction. Negative Correlations: A correlation of -1 indicates that two currency pairs will move in the contradictory direction 100% of the time. For Example: Correlation between EUR/USD and USD/CHF is an epitome of n...
Post a Comment
Read more