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Rules of Successful trader

  • #161
  • Jun 3, 2020 10:57am Jun 3, 2020 10:57am
sounds really motivational , learn a new thing from your post , thought >actions > habit > character , thats really a nice reply from all.
  • #162
  • Jun 3, 2020 9:18pm Jun 3, 2020 9:18pm
My rules are pretty simple. You need to have a strategy and you need follow that strategy. Also, don't be greedy - it can cost you a lot. Be patient. Patience - is a key to success. And if you are trading manually - don't panic. Wish you luck!
  • #163
  • Jun 4, 2020 1:35am Jun 4, 2020 1:35am
Quoting ulianacheck
My rules are pretty simple. You need to have a strategy and you need follow that strategy. Also, don't be greedy - it can cost you a lot. Be patient. Patience - is a key to success. And if you are trading manually - don't panic. Wish you luck!
Good one. Even i believe patience has a huge role to play. if we are patient we will be able to take sound decisions and grab opportunities on time. We just need to be very alert though.
  • #164
  • Jun 4, 2020 4:12am Jun 4, 2020 4:12am
For me, a successful trader is a trader with many years of experience, which means that the longer I have mastered it. There are no secrets here
  • #165
  • Jun 4, 2020 7:19am Jun 4, 2020 7:19am
One can have many years of experience and still lose money. I'd add a successful trader is the experienced trader who makes a profit on a regular basis.
  • #166
  • Jun 4, 2020 9:32am Jun 4, 2020 9:32am
Quoting cakrajaya
rule no 1. preservation of capital rule no 2. preservation of capital rule no 3. always remember rule 1&2

This. Always this.
  • #167
  • Jun 4, 2020 2:06pm Jun 4, 2020 2:06pm
Someone who does not hang on to losses and let them affect subsequent trades. Similarly, they don't get overexcited over a profit and break their rules of risk management.
  • #168
  • Jun 6, 2020 8:24am Jun 6, 2020 8:24am
Unfortunately most people end up doing that from time to time and end up losing money.
  • #169
  • Jun 17, 2020 11:47am Jun 17, 2020 11:47am
A successful trader always has some rules that keep increasing his efficiency in trading. Some of these rules are
- Having a trading plan is always the first rule.
- Make use of technology and advance trading technique for efficiency
- A successful trader will always risk something that he could afford
- Consider protecting your trading capital
- It is important to study the markets and keep a track on it.
  • #170
  • Jun 18, 2020 2:12am Jun 18, 2020 2:12am
you have mention all good habits and character. its not only for successful trading life but also need for general life to live happy.
  • #171
  • Jun 18, 2020 4:47am Jun 18, 2020 4:47am
Quoting AronKevin
A successful trader always has some rules that keep increasing his efficiency in trading. Some of these rules are - Having a trading plan is always the first rule. - Make use of technology and advance trading technique for efficiency - A successful trader will always risk something that he could afford - Consider protecting your trading capital - It is important to study the markets and keep a track on it.
protecting your capital is very important, it focuses on money management and risk management, its most important issue to avoid unfortunate risk and losses.
  • #172
  • Jun 18, 2020 4:53am Jun 18, 2020 4:53am
can anyone explained to me what is sl/gap because for that reason i lost all my money
  • #173
  • Jun 18, 2020 12:31pm Jun 18, 2020 12:31pm
Quoting NeilWagner
{quote} protecting your capital is very important, it focuses on money management and risk management, its most important issue to avoid unfortunate risk and losses.
True, profit or not, preserving capital as much as you can and for as long as you can is a must. You cannot learn to trade without funds left in your account to trade with.
  • #174
  • Jun 19, 2020 2:49am Jun 19, 2020 2:49am
Quoting AronKevin
A successful trader always has some rules that keep increasing his efficiency in trading. Some of these rules are - Having a trading plan is always the first rule. - Make use of technology and advance trading technique for efficiency - A successful trader will always risk something that he could afford - Consider protecting your trading capital - It is important to study the markets and keep a track on it.
Exactly. Very nicely explained. Managing risk is indeed a great way to protect your capital.
  • #175
  • Jun 20, 2020 10:37am Jun 20, 2020 10:37am
sometimes in spite of having most powerful analyzing risk management trading can be useless , because there is nothing 1005 in Forex trading , its all about luck , i feel sometimes.
  • #176
  • Jun 20, 2020 5:51pm Jun 20, 2020 5:51pm
Rules..

1. Preserve your Capital "Capital Preservation"
2. Robust Risk Management system
3. Plan your Trade & Trade your plan
4. Apply trades Systematically
5. Know when to trade and when to relax
6. Don't loose BIG, etc..... when you lose 50% of your equity, YOU NEED TO MAKE 100% TO BREAK EVEN SO GO BACK RULE 1 & 2
7. Don't chase the money, money will come with a Statistical Edge/Strategy + These rules
8. With compounding growth you can increase your size incrementally

Characters of a Successful trader

1.Being Open Minded
2.Critical and Eager for self development(Be honest and improve on your weakness)
3. Keeps journal and learns from them
4. Persistent & Patient
5. Master your Emotion & Psychology
6. Knowing that we always have something to learn


As traders we need to Adapt,Develop, and hone into our skills. There's no shortcuts! This game has no luck in the long run, only rules and Trader who survives lives by them....
  • #177
  • Jun 21, 2020 4:13am Jun 21, 2020 4:13am
Quoting smtrader86
Rules.. 1. Preserve your Capital "Capital Preservation" 2. Robust Risk Management system 3. Plan your Trade & Trade your plan 4. Apply trades Systematically 5. Know when to trade and when to relax 6. Don't loose BIG, etc..... when you lose 50% of your equity, YOU NEED TO MAKE 100% TO BREAK EVEN SO GO BACK RULE 1 & 2 7. Don't chase the money, money will come with a Statistical Edge/Strategy + These rules 8. With compounding growth you can increase your size incrementally Characters of a Successful trader 1.Being Open Minded 2.Critical and Eager for...
3. Keeps journal and learns from them

Critical but often overlooked.
  • #178
  • Jun 21, 2020 9:14am Jun 21, 2020 9:14am
Quoting smtrader86
Rules.. 1. Preserve your Capital "Capital Preservation" 2. Robust Risk Management system 3. Plan your Trade & Trade your plan 4. Apply trades Systematically 5. Know when to trade and when to relax 6. Don't loose BIG, etc..... when you lose 50% of your equity, YOU NEED TO MAKE 100% TO BREAK EVEN SO GO BACK RULE 1 & 2 7. Don't chase the money, money will come with a Statistical Edge/Strategy + These rules 8. With compounding growth you can increase your size incrementally Characters of a Successful trader 1.Being Open Minded 2.Critical and Eager for...
the rules of successful trader is very simple and sounds , you have to main all good trading habit first of all , as like trading habit , the ability how to manage money when trading in practical , controlling emotions and much more.
  • #179
  • Jun 21, 2020 11:18am Jun 21, 2020 11:18am
very common motivation speech but honestly speaking , it all important and effective to lead a better trading life with certainly.
  • #180
  • Jun 22, 2020 1:54am Jun 22, 2020 1:54am
Quoting smtrader86
Rules.. 1. Preserve your Capital "Capital Preservation" 2. Robust Risk Management system 3. Plan your Trade & Trade your plan 4. Apply trades Systematically 5. Know when to trade and when to relax 6. Don't loose BIG, etc..... when you lose 50% of your equity, YOU NEED TO MAKE 100% TO BREAK EVEN SO GO BACK RULE 1 & 2 7. Don't chase the money, money will come with a Statistical Edge/Strategy + These rules 8. With compounding growth you can increase your size incrementally Characters of a Successful trader 1.Being Open Minded 2.Critical and Eager for...
I could not agree more with these. Basic process but very very strongly recommended.
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